India Industrial Valves Market, By Functionality (On/Off, Control & Others), By End Use Industry (Oil & Gas; Petrochemicals, Chemicals & Fertilizers; Power; & Others), Competition Forecast & Opportunities, 2012 – 2022
Industrial valves are mechanical/electromechanical devices used for controlling, regulating and diverting flow and pressure in fluids (liquids, gases and slurries) by closing, opening or blocking the passage of fluid. Industrial valves are widely being used in diverse sectors including oil & gas; petrochemicals, chemicals & fertilizers; power; etc. Over the years, the Indian Government has been continuously focusing on the expansion of pipeline network for the distribution of natural gas across the country. As of September 2016, the total length of gas pipeline network in India stood at 16,121.21 kilometres. Moreover, the demand for natural gas in India is projected to increase from 446 MMSCMD in 2016 to 523 MMSCMD by 2019. Hence, with increasing demand for natural gas coupled with continuous expansion of natural gas distribution network, the country’s industrial valves market is expected to grow at a robust pace over the next five years. From operational, safety and reliability point of view, industrial valve is one of the crucial components used in oil & gas industry. Oil & gas is expected to remain the largest source of fuel in India in the next five years as well, consequently aiding India industrial valves market.
According to “India Industrial Valves Market, By Functionality, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022”, the industrial valves market in India is anticipated to grow at a CAGR of over 9% during 2017 – 2022. Widening demand supply gap in Indian power industry has been driving the need for power capacity additions, which, in turn, is providing a boost to industrial valves market in the country. On/off industrial valve segment occupied the largest share in Indiaindustrial valves market in 2016. The segment is anticipated to maintain its dominance during the forecast period as well. Low cost and easy maintenance are some of the major factors responsible for growing penetration of on/off industrial valves in India. An oil & gas processing plant spends 80% of total industrial valves cost upon on/off valves, while the rest 20% are spend on control valves. Some of the major companies operating in Indiaindustrial valves market are Larsen & Toubro Valves, Emerson Valves, Instrumentation Limited, MIL Valves and Kirloskar Brothers Limited, among others. “India Industrial Valves Market, By Functionality, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022” discusses the following aspects of India industrial valves market:
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