Isolation Valves Market Size to Reach US$ 38.6 Billion in 2025, Says Stratview Research
DETROIT, April 1, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Isolation Valves Market by Valve Type (Ball Valve, Plug Valve, Gate, Globe & Check Valve, Butterfly Valve, and Others), by End-Use Industry Type (Oil & Gas, Power Generation, Chemical & Petrochemical, Water & Wastewater, and Others), by Operation Type (Automated Valve and Manual Valve), by Sales Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This comprehensive report, from Stratview Research, studies the isolation valves market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025. The report estimates the current and future demand for isolation valves at the global and regional levels. The report also studies all the major suppliers of isolation valves located across the globe. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate the growth strategies.
Isolation Valves Market: Highlights from the Report
An isolation valve is a mechanical device, used to open and shut the flow of fluid via pipeline. A valve is classified as an isolation valve solely due to its desired function/role to isolate the flow of fluid in a process pipe loop. This type of valve is generally used for maintenance and safety purposes in industries such as oil & gas, water & wastewater, and chemical & petrochemicals. In order to select a valve for isolation of flow of fluid, following criteria need to be taken into consideration: operating pressure and temperature range, shut-off (classification and direction), process conditions, flow capacity, pipe connections, manual or automated, required service life, industry standards, system performance, and total cost of ownership.
As per Stratview Research, the global isolation valves market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 38.6 billion in 2025. The year 2020 is expected to be extremely challenging for almost all the markets including isolation valves, due to the outbreak of COVID-19 across the world. The growth of the isolation valves market is highly dependent upon the performance of various industrial sectors with oil & gas being the major one.
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The oil & gas industry is facing major price drops due to the dual impacts: collapse in demand and surge in supply, which is severely impacting the future investments in the upstream, midstream, and downstream sectors of the oil & gas industry. China, the epicenter of the coronavirus outbreak, is the world's largest producer of most of the industrial products. As China's industrial production is hugely affected due to large-scale production shutdown and with similar trends observed across the world, especially in Europe; the global isolation valves market is expected to witness a slowdown in the year 2020.
The impact of Covid-19 is yet unpredictable. Currently, most of the industries are considering two scenarios: Pessimistic and Optimistic. For instance, as per the current IEA publication, the global oil demand may fall by 730,000 barrels a day in 2020 in the pessimistic low-case scenario (when global measures fail to control the outbreak). In the optimistic high-case scenario (if the virus is contained quickly), the demand may rise by 480,000 barrels a day. The growth of the market is anticipated to remain between these two cases. It is expected that the impact does not last long, and the market will rebound quickly in the coming years, backed by the expected recovery of the industrial sector.
Based on the valve type, the market is segmented into ball valve, plug valve, gate, globe & check valve, butterfly valve, and other valves. Gate, globe & check valve is likely to remain the dominant segment of the market during the forecast period, owing to its benefits such as good isolation properties, shorter strokes, and minimum pressure loss. These benefits have led to its widespread adoption in almost all end-use industries.
Based on the end-use industry type, oil & gas is expected to remain the dominant and fastest-growing segment of the market during the forecast period, driven by an expected surge in oil production in 2020. Russia has already announced to increase the production of crude oil from April this year. The recent decline in the crude oil prices due to breach of the three-year-old pact between Russia and OPEC may dwindle the demand for isolation valves in the year 2020. However, the demand for isolation valves in the oil & gas industry is estimated to invigorate after 2020 and create healthy growth opportunities for the market participants.
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In terms of region, Asia-Pacific is projected to remain the largest as well as the fastest-growing market for isolation valves during the forecast period. The region is among the largest market for the chemical & petrochemical and power generation industries with China being the largest market in the world. Industrialization, urbanization, and water & wastewater treatment activities coupled with the expected rebound of key economies across the region are the major factors propelling the growth of the region's market over the forecast period.
North America is projected to remain the second-largest market for isolation valves during the forecast period, mainly driven by the USA. The region is the largest market for oil & gas products and water & water treatment activities. Increasing spending by utilities on pipe rehabilitation for reducing water loss and increasing electricity generation and chemical production is pushing the demand for isolation valves in the region.
Key players in the isolation valves market are Emerson Electric Co., Velan Inc., Flowserve Corporation, Crane Co., Trillium Flow Technologies, MKS Instruments, Inc., Schlumberger N.V., Forbes Marshall, Spirax-Sarco Engineering plc, and Baker Hughes Company. Development of reliable, ease of automation, and cost-efficient isolation valves; expansion in untapped and growing markets; and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the isolation valves market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Isolation Valves Market, By Valve Type:
- Ball Valve
- Plug Valve
- Gate, Globe & Check Valve
- Butterfly Valve
- Others
Isolation Valves Market, By End-Use Industry Type:
- Oil & Gas
- Power Generation
- Chemical & Petrochemical
- Water & Wastewater
- Others
Isolation Valves Market, By Operation Type:
- Automated Valve
- Manual Valve
Isolation Valves Market, By Sales Type:
- OE
- Aftermarket
Isolation Valves Market, By Region:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Stratview Research has several high value market reports in the oil & gas industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Oil-Gas.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
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Stratview Research
E-mail: [email protected]
Direct: +1-313-307-4176
SOURCE Stratview Research
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