Valve MarketTop Players, Global Trends, BusinessOpportunities, and Industry Forecast till 2022
“Development of advanced diagnostics and smart technology in valves market for measuring various procedure variables that include upstream & downstream pressure stem position, temperature, and the flow rate, is propelling market growth over the forecast period.�
The Global Valve Market is subject to witness a substantial growth due to the shifting trend towards automation & digitalization of various industrial processes. In addition, rapid expansion of existing facilities and petroleum refining plants are estimated to drive the growth of market over the forecast period. Development of advanced flow control tools is projected to have positive impact on market growth in the near future. Globally, the valve market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the industrial valves. Introduction of smart valves along with intelligent control systems is gaining traction among industry participants due to their capability to detect and correct leakages in the valves with help of advanced feedback mechanism, thereby escalating market demand for smart valves with intelligent control systems. Development of advanced diagnostics and smart technology in valves market for measuring various procedure variables that include upstream & downstream pressure stem position, temperature, and the flow rate, is propelling market growth over the forecast period. The recent technological advancement such as integrated embedded processor and advanced networking framework for subsea oil & gas sector with development of novel products such as high impact rendering driver are projected to boost market value in the upcoming years.