Press Release: April 01, 2020
Industrial Valves are the mechanical devices which controls or regulates the pressure or flow of gases, liquids that are running through the piping system. The industrial valves are also referred as regulators and can be implanted for multiple applications. The industrial valves can be differentiated through various methods including valve function and control mechanism.
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The factors responsible for driving the growth of global industrial valves market include the ease in maintenance, ability to maintain pressure, reduced operating cost and improved safety. The increasing initiatives for developing smart cities along with the increasing industrial sector is further propelling the growth of global industrial valves in the forecast period. In addition, the enhanced accuracy, reliability, the need of little maintenance and the leak proof service provided are some factors fuelling the growth of global industrial valves market. The growing refineries and the petrochemical plants along with implementation of advanced technologies in the industrial valves is further paving a way for industrial valves in the market. However, the factors responsible for hindering the growth of global industrial valves include the high fabrication cost and the lack of government policies and standardized certifications.
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On the basis of geography, Asia-pacific is expected to grow at a highest growth rate in the forecast period owing to the growing population leading to the high demand for the power generation further leading to the demand for the industrial valves in the region. The rising industrial sectors and the increasing demand for water treatment in this region is driving the industrial valves market.
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Various notable players operating in the global industrial valves market including Emerson, Cameron- Schlumberger, IMI PLC, Flowserve Corporation, Weir Group PLC, Spirax Sarco, Crane Co., Kitz Corporation, Metso Corporation and Neway Valve among others.
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