Gate Valve Market
Description:
The gate valve market is projected to reach US$ 12,988.40 million by 2028 from US$ 8,712.18 million in 2020. It is estimated to register a CAGR of 4.5% during the forecast period.
Market Overview:
Robots and other modern technologies are employed in the oil gas sector, and the pulp and paper industry to automate complex operations. New technologies have made operations in various enterprises far more efficient and adaptable. Automation supports interoperability, information transparency, and manufacturing operations’ integrity protection. Valves have been an essential component of process automation systems. Complex piping systems, variable-temperature pipes, and process pressure management are the critical performance areas regulated by valves in automated facilities. The use of valves has surged dramatically across many verticals owing to the reduced complexity associated with their installation and maintenance. Major players in the gate valves market concentrate on providing dependable valves—such as the flexible wedge, solid wedge, split wedge, or parallel disk valves—which are suitable for a range of applications. Furthermore, different end-user industries have been replacing long-standing pressure valves with newly developed safety valves capable of alleviating, lowering, sequencing, or discharging fluid pressure. Thus, the growing trend of factory automation is likely to benefit the gate valves market in the coming years.
Get Sample PDF:
https://www.theinsightpartners.com/sample/TIPRE00028937/
The gate valve market report includes a detailed competitive analysis of the global market players, including Weir Group PlC; ITT Inc.; Emerson Electric Company; Velan Inc.; Jash Engineering Ltd.; Mueller Water Products Inc.; Process Systems; T-T Pumps; Econosto; Red Valve Company, Inc., FKB; and KSB SE Co KgaA. Several industrial activities, including product introduction, acquisition, agreement, and expansion, are taking place in the gate valve market globally.
APAC Led Gate Valve Market with 38.8% Share in 2028
China, India, South Korea, Japan, and Australia are among the key economies in APAC. China, India, and Southeast Asian countries are the fast-growing economies in the region. The demand for gate valves from the water wastewater management industry in APAC is booming, and a similar trend is expected to continue in the next few years. In addition to the large-scale industrialization and urbanization, dense population and high per capita income contribute to the expansion of the gate valves market. Urbanizations leads to the elevated demand for new and enhanced wastewater treatment facilities for ensuring appropriate water usage and management.
The discovery of new fossil fuel reserves in APAC, especially in countries such as China and Thailand, is expected to open up substantial development opportunities for the gate valves market. The large-scale exploration and production operations at these sites will boost the procurement of gate valves in this countries. The chemicals industry in China is another key end user of gate valves. Many top players have chemical manufacturing sites in China.
Buy Now: https://www.theinsightpartners.com/buy/TIPRE00028937/
Impact of COVID-19 Pandemic on Gate Valve Market
According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected other major emerging economies such as Singapore, Thailand, and Indonesia.
The existing unutilized production capacity scenario, combined with the COVID-19 effect, would have a neutral impact on the Asian manufacturing and power sectors’ overall financial health. However, there has been a major reduction in power consumption and production volumes in industrial and commercial units, ultimately resulting in a reduction in demand for gate valves. However, owing to the adoption of remote production and supported by solid infrastructure, majority of the manufacturing units didn’t feel adverse effect in their operations.
North America is at the forefront of the advancement and adoption of new technologies due to favorable government policies boosting innovations and strengthening infrastructure capabilities. After the first wave of the COVID-19 pandemic, overall all the segment recoveries have been non-uniform across various manufacturing industries. Several manufacturers had to suspend their operations; they also experienced disruptions in supply activities, which lowered their capacity utilization rates and impaired productivity. However, the implementation of digital twin, i.e., a digital representation of a physical thing, like production process or physical production environment, enabled manufacturing units across North America to virtually simulate the production process and products with its performance in the real world.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
