The valves are one of the important devices that control the flow of the liquid and gas that are integrated into the pipes and assembled at the commercial, industrial, and residential places. The controlling of the gas or liquid can be controlled through automatically fed programs or else manually. The overall processing of the liquid or gas is passed through series of pipes ending at some point. The flow cannot be closed or opened every time there are specifically designed processes that decide the cycle of the valves operation.
Governments of several developing nations are widely investing in pipeline projects to reduce the transport barrier between the oil and gas manufacturing units to the storage location. The industrial applications decide the type of valves and its functional parameters. The rising demand for valves that are assembled with the actuators such as pneumatic, hydraulic, and electrically operated have motivated the growth of global industrial valve market. Rising installation of valves in water management facilities have generated huge demand for the valves and its sub-products in the market, which drives the global market trend. Considering, the CAGR of 5.3% in 2016-2021, the global market is anticipated to reach USD 88.4 billion by 2021.
The valve is a device that is designed based on the application needs. Based on the industrial valve types, it is segmented as a gate valve, globe valve, ball valve, check valve, and butterfly valve. Further based on the application industry wise it is segmented as oil and gas, power, chemical, waste and waste water management, food, and beverage industry.
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Valve manufacturers play a crucial role in the industries as the design and installation need to be planned and precisely created. Some of the global players contributing their efforts to achieve the dominance of the industrial valve market and to bolster the growth of the global market include Curtiss-Wright Corp, Cameron International Corporation, AVK Group, Emerson Electric Co, Alfa Laval AB, L&T Valves Ltd, Flowserve Corporation, and Flowserve Corporation.