Ball Valves Segment Will Continue to Dominate the Global Valves and Manifolds Market Until 2020, Predicts Technavio
June 14, 2016 | By Business Wire News
This research report titled ‘Global Valves and Manifolds Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on product, the report categorizes the global valves and manifolds market into the following segments: ball valves, needle valves, check and relief valves, manifolds, and others. The top three revenue contributors are illustrated below:
- Ball valves
- Needle valves
- Check and relief valves
Global ball valves market
Technavio predicts the global ball valves market to reach USD 432.9 million by 2020, an increase from USD 320.8 million in 2015.
Ball valves are capable of withstanding corrosive substances flowing through them. Operating temperatures range from as low as -328°F to 932°F. These valves can endure the high pressure of compressor stations that are used to keep the movement of natural gas smooth through pipelines. Ball valves find extensive application in the oil and gas industry, specifically for FPSO, pipelines, offshore production platforms, gas storage applications, tank farms, specialized LNG applications, and emergency shut down situations.
According to Anju Ajaykumar, a lead analyst at Technavio for research on tools and components, “Increase in the construction of new industrial plants, especially in the oil and gas and process industries, and the capacity expansion of existing plants have led to a growing demand for ball valves. Industries worldwide are upgrading their existing plants to increase production efficiency and reduce labor costs, which has led to the increased installation of such valves. Also, the availability of new and innovative quarter-turn valves has enabled end-users to carry out production more efficiently.”
Global needle valves market
Technavio predicts the global needle valves market to grow at a CAGR of 6.31% to reach USD 288.4 million by 2020.
The global needle valves market is seeing increased demand from the food and beverages and pharmaceutical industries. In these industries, needle valves are used for filtration purposes. The development of new products and the constant upgrading of existing lines will create demand for needle valves in these industries. “The presence of several food and beverages and pharmaceutical industries in APAC has contributed to the growth of the market in the region. APAC has the largest number of consumers of multi-turn valves,” adds Anju.
Global check and relief valves market
The global check and relief valves market was worth USD 221.3 million in 2015. Technavio predicts the market to reach USD 312.1 million by 2020.
The major end-users of check and relief valves are oil and gas production, petrochemicals, steel/primary metals, pulp and paper, marine, and food processing industries. Check and relief valves offer leak-free and secure connections and incur low cost. The increased adoption of these valves in many other end-user applications will drive the market. For instance, these valves are used extensively in medical facilities; they have their own special requirements such as reliability, safety, cleanliness, quiet operation, and need to replace components quickly is especially critical for life support systems. The valves that are used in medical facilities are medical gas ball valves, medical gas check valves, and vacuum and pressure relief valves for vacuum.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Circor Instrumentation
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