Multiple Orifice Flow Control Valve Market
Global Market Study on Multiple Orifice Flow Control Valve: Mounting Replacement Rate of Legacy Products to Encourage New Sales
Multiple Orifice Flow Control Valve Market Segmented By Manual, Automatic Electric Actuators, Automatic Pneumatic Actuators, Automatic Hydraulic Actuators Used in Oil and Gas, Chemicals and Petrochemicals, Energy and Power Industrial Process, HVAC and Tankless Heaters, Water and Wastewater
The global multiple orifice flow control valve market was valued at around US$ 299.8 Mn in 2017, and is estimated to grow at a 2.4% CAGR over 2018–2028. In terms of unit sales, East Asia and South Asia are expected to register relatively high value and volume growth in the multiple orifice flow control valve market throughout the forecast period.
The robust growth of industries such as oil & gas, chemical processing, energy & power generation, and water & wastewater is the key factor responsible for the growth of the multiple orifice flow control valve market. These industries in countries such as the U.S., China, India, and other Asian countries are the key driving forces for the growth of the multiple orifice flow control valve market.
Increasing automation and digitalization, and the rising need for remote monitoring applications have improved the demand for smart multiple orifice flow control valves that help in improving durability and minimizing product loss. China, India, Indonesia, and the Latin American regions are picking up in the multiple orifice flow control valve market, owing to the growing number of pipeline projects and robust outlook of various industries in these regions.
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- Parker Hannifin Corp.
- Emerson Electric Co.
- Metso Corporation
- BHGE (BAKER HUGHES, a GE Company)
- Kurimoto, Ltd.
- Watts Water Technologies, Inc.
- Azbil Corporation
- KUBOTA Corporation
- Flowserve Corporation
- IMI Plc.
- NOW Inc.
- Ross Valve Mfg. Co Inc.
- Rototherm Group
- AGI Industries
- Doering Company
- Cyclonic Valve Company, Inc.
Key Driving Factors of the Multiple Orifice Flow Control Valves Market
- Replacement of Legacy Valves
- Valves are commonly used in regulating the production and flow of important gases, steam, and liquid over long distances. Damage in old valves can lead to leakages and intrusion of external agents, resulting in corrosion, loss of material, and added pollution to the environment. The replacement of aged multiple orifice flow control valves in industrial applications such as oil & gas, chemicals & petrochemicals, energy & power, and water & wastewater are mandatory.
- The demand for the replacement of old multiple orifice flow control valves is driven from refineries, gas distribution, and other industrial process companies that are switching to new high-strength multiple orifice flow control valve products. Multiple orifice flow control valves that are made from steel and cast & wrought iron are the traditional valves material types, primarily used in material transportation, especially in the oil & gas sector. These are being replaced by carbon steel and corrosion-resistant alloy multiple orifice flow control valves.
- Coping up with the economic slowdown of the oil & gas industry is expected to increase the demand for multiple orifice flow control valves across the globe during the forecast period.
- Growth in the Water and Wastewater Industry
- Growing urbanization and industrialization not only increases the need for fresh water, but also gives rise to poor wastewater practices, which leads to water pollution and the contamination of drinking water. Such practices have led governments to take up initiatives and introduce strict norms for better wastewater management to reduce water pollution. This will be implemented by creating a strong collection system network of sewers and industrial wastewater collection systems, where multiple orifice flow control valves are installed. Thus, increased wastewater management activities, in both, industrial and municipal sectors, are expected to increase the demand for multiple orifice flow control valves during the forecast period.
- According to USAID (the United States Agency for International Development), more than 2.1 Bn people don’t have access to safe drinking water, and around 4.4 Bn people lack access to sanitation.
- With rapid growth in developing countries such as China, India, and others, increased spending on wastewater management is being witnessed, which is expected to drive the growth of the multiple orifice flow control valve market. Governments in India & China are enforcing that industrial wastewater be recycled after industrial use. Thus, increased spending on water management and growing government initiatives are indirectly expected to drive the growth of the multiple orifice flow control valve market over the forecast period.
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Multiple Orifice Flow Control Valves Market: Structure Analysis
Top companies operating in the multiple orifice flow control valve market are Schlumberger Limited, Parker Hannifin, Emerson Electric Co., Baker Hughes (GE), KUBOTA Corporation, IMI Plc., Metso Corporation, Flowserve Corporation, Kurimoto, Ltd., Watts Water Technologies, Inc., and Azbil Corporation, among others. A majority of these players are investing in orifice technologies and creating orifice plates with new materials with automation solutions for monitoring applications.
The competitive pricing of multiple orifice flow control valves by regional players is a key challenge for global players to enter into developing markets. Setting up new production units in India, China, ASEAN, and Latin American regions will drive the revenue growth of the global multiple orifice flow control valve market. The multiple orifice flow control valve market report is designed to provide relevant information regarding these players, and also about the key strategies that they have adopted.
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Multiple Orifice Flow Control Valve Market: Segmentation
|By Valve Diameter||
|By End-Use Industry||