The “Industrial Valves – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Industrial Valves Market to Reach $92.3 Billion by 2026
The global market for Industrial Valves estimated at US$73.2 Billion in the year 2020, is projected to reach a revised size of US$92.3 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. Ball Valves, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$30.6 Billion by the end of the analysis period.
Industrial valves are mechanical or electromechanical devices intended to control, divert and regulate pressure and flow of fluids by opening, blocking or closing fluid passage. Industrial valves are mainly utilized in capital-intensive industries, as these industries require a large number of valves during the installation stage. The valves are also utilized as flow controllers for pipelines, through which gases, liquids and semi-solids are transported.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Butterfly Valves segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Industrial Valves market.
The U.S. Market is Estimated at $20.3 Billion in 2021, While China is Forecast to Reach $18.2 Billion by 2026
The Industrial Valves market in the U.S. is estimated at US$20.3 Billion in the year 2021. The country currently accounts for a 27.03% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$18.2 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European…
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