The valves and fittings market will be showcasing a steady growth in the near future. The demand from developed nations in North America is expected to be stagnant, while developing nations in the Asia Pacific are expected to be primary driver for valves and fittings. The growth in construction and commercialization of shale gas technology are the main contributing factors for this industry.
What is Valves and Fittings?
Valves and fittings are instruments which determine the flow of liquids or gasses in a machinery or equipment. Valves are found in every industrial process, including oil and gas, pharmaceuticals, power generation, mining, food manufacturing, pharmaceuticals and many other. Fittings refer to a small part which is used to attach two different parts of machinery or equipment. Valves and fittings go hand in hand with each other while forming an integral part of a machinery.
Market Research and Market Trends of Valves and Fittings Market
- The Asia Pacific market is expected to be main consumer of valve and fittings in the coming years. The rapid expansion of industrial base especially in electronics manufacturing sectors, automobile and manufacturing sectors are promoting valve and fittings manufacturers to focus on developing nations. Also, sensing an opportunity, regional players are taking advantage of their local knowledge to establish their foothold in the market.
- Oil and Natural gas industry is one of the largest consumers of valves and fittings. The development of shale gas technology has enabled industries to reduce their reliance on the traditional coal power plants. Shale gas producers are increasing their drilling, fracking and extraction activities to keep up with the rising demand for power. The growing consumption of shale gas is resulting in increased demand for valves and fittings to be used in offshore apparatuses, refinery plants and gas handling systems.
- The demand for automatic valves is expected to outpace standard valve sales. Rising cost in raw materials and minimizing profits are propelling manufacturers to employ technology to avoid costs. Manufacturers in advanced economies are most likely to follow the trend of implementing automated valves, whereas developing nations are more likely to purchase the standardized valves.
Who are the Major Players in Valves and Fittings Market?
The major vendors in the Valves and Fittings market are As-Schneider, Astectubelok, Bray International Inc., Fujikin Incorporated, Ham-Let, Hex Valve, Circor International, Hy-Lok Corporation, Oliver Valves, Parker Hannifin, Safelok and many more.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
