Oil and Gas Valves Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2029
By the end of 2022, the oil
& gas valves market is anticipated to reach more than US$ 12.5 Bn.
During the forecast period of 2022-2029, the global market for oil & gas
valves is expected to grow at a 3.5% CAGR.
The global oil and gas valves market was valued at
approximately US$ 10 billion in 2014. The global oil and gas valves market is
expected to be worth more than US$ 11 billion by the end of 2022. The oil and
gas valves market is expected to grow at a CAGR of more than 3% between 2022
and 2029, reaching a value of nearly US$ 16 billion by the end of 2029.
Future Market Insights’ (FMI) market study titled, ‘Oil
& Gas Valves Market: Global Industry Analysis 2014–2021 and
Opportunity Assessment 2022–2029’, analyses the global oil & gas valves
market, and provides an in-depth analysis on the forecast period of 2019-2029.
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https://www.futuremarketinsights.com/reports/oil-and-gas-valves-market
Downstream Applications Contributing a Major Share to Oil
& Gas Valves Market
By product type, the global oil & gas valves market has
been segregated into gates, globes, balls, butterflies, checks, PRVs, and
others. The gate type of oil & gas valves are estimated to continue
recording a high market value share throughout the projected period, while
recording a high CAGR simultaneously.
With respect to the different sizes of oil & gas valves,
the oil & gas valves market has been segmented into 0.25 to 8 inches, 8 to
20 inches, and above 20 inches. By the end of the year 2029, the 0.25 to 8
inch-sized oil & gas valves segment is estimated to hold more than half of
the global oil & gas valves market share.
With regards to application, the global oil & gas valves
market has been segregated into upstream, midstream, and downstream
applications. The downstream applications of oil & gas valves are estimated
to contribute the most to the market size of the global oil & gas valves market.
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https://www.futuremarketinsights.com/reports/sample/rep-gb-9671
Rising Energy Need and Multiple Oil and Gas Projects in
Pipeline Accelerate Market Growth in Developing Countries
Among all the regional markets, the oil & gas valves
market in North America is estimated to account for over one-fourth of the
global oil & gas valves market share throughout the forecast period, due to
continuous advancements in the North American oil & gas and shale industry.
With a booming oil & gas industry in the Western Africa
and Northern African countries, the oil & gas valves market in the Middle
East & Africa is estimated to record the second-largest market share throughout
the forecast period.
The oil & gas valves market in China, India, and Brazil
are estimated to be emerging markets due to the growing energy needs, new oil
& gas projects, improved economic conditions, and continuous
industrialization and urbanization in these countries.
The oil & gas industry is extremely competitive, due to
the high presence of established market players. This, in turn, makes the oil
& gas valves market fairly fragmented. Leading market players in the oil
& gas valves market are very well-established across all the regional
markets.
Some of the key vendors in the global oil & gas valves
market are Emerson Electric Co., CIRCOR International Inc., Schlumberger
Limited, PARKER HANNIFIN CORP, Weir Group Plc., Metso Corporation, and BHGE
(BAKER HUGHES, a GE Company), among others.
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