The 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, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Isolation Valves Market
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.
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.
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Report Scope & Market Segmentation
Isolation Valves Market Share by Valve Type
Based on the valve type, the market is segmented into ball valve; plug valve; gate, globe & check valve; butterfly valve; and other valves. The 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 wide adoption in almost all end-use industries.
Isolation Valves Market Share by End-Use Industry Type
Based on the end-use industry type, the market is segmented into oil & gas, power generation, chemical & petrochemical, water & wastewater, and others. 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 to crude oils 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.
Isolation Valves Market Share by Operation Type
Based on the operation type, the market is segmented into automated valve and manual valve. The manual valve is expected to remain the larger segment, whereas the automated valve is expected to be the faster-growing segment during the forecast period. Gaining momentum of automation valves is due to their various advantages such as precise flow modulation with improved accuracy and efficiency, advanced preventive maintenance ability, and an option to change the flow path between the continuous and batch process. Owing to these benefits along with rapid advancements in valve control technologies, the automated isolation valves market is subjected to offer high-growth opportunities in the years to come.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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