It is estimated to register a CAGR of 4. 5% during the forecast period. Key stakeholders in the gate valves market ecosystem include raw material suppliers, gate valves manufacturers, and end users.
New York, June 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Gate Valve Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Valve Type, Valve Size, and Valve Size" - https://www.reportlinker.com/p06289908/?utm_source=GNW
Raw material suppliers offer materials such as steel, iron, and aluminum for various types of gate valves, such as flexible wedge and solid wedge valves, among others.
These valves are used in various end-user industries for regulating the necessary velocity through the acceleration and deceleration of fluids to the industrial equipment.
The gate valve market is spread across APAC, the MEA, Europe, North America, and SAM.
Market Overview: Gate valve Market
Robots and other modern technologies are employed in the oil & gas sector, and the pulp and paper industry to automate complex operations.New technologies have made operations in various enterprises far more efficient and adaptable.
Automation supports interoperability, information transparency, and manufacturing operations’ integrity protection.Valves have been an essential component of process automation systems.
Complex piping systems, variable-temperature pipes, and process pressure management are the critical performance areas regulated by valves in automated facilities.The use of valves has surged dramatically across many verticals owing to the reduced complexity associated with their installation and maintenance.
Major players in the gate valves market concentrate on providing dependable valves—such as the flexible wedge, solid wedge, split wedge, or parallel disk valves—which are suitable for a range of applications. Furthermore, different end-user industries have been replacing long-standing pressure valves with newly developed safety valves capable of alleviating, lowering, sequencing, or discharging fluid pressure. Thus, the growing trend of factory automation is likely to benefit the gate valves market in the coming years.
The need for gate valves in Asia is being driven by the growing industrialization in most emerging economies in the region.Over the predicted period, gate valve usage is expected to increase significantly.
China, along with other Asian countries, is the largest buyer of industrial valves, especially gate valves.Moreover, several municipal projects and government efforts for infrastructural development are expected to drive the Asia Pacific gate valve market throughout the forecast period.
Furthermore, the rising demand from the petroleum industry is expected to boost the Middle East & Africa market’s share during the forecast period.
Market Driver: Gate valve Market
Since the beginning of the industrial revolution, technological advancements have led to a tremendous surge in industrial production capacities; as a result, the dependence of the economy on manufacturing has surged across the world.According to PricewaterhouseCoopers (PwC), growing economies, labor quality, tax policies, regulatory environments, and transportation and energy prices are the factors that have catalyzed the comeback of the manufacturing sector from the pandemic’s impact.
As a result of the expanding manufacturing sector, the dependent markets, including mechanical equipment providers, are flourishing.Moreover, with the emergence of new categories of consumers in developing countries, manufacturers are likely to have significant, new prospects.
Innovations catalyze the evolution of demands, thus compelling manufacturers to use modern equipment, including gate valves, in manufacturing units.
Gate valves offer the necessary fluid velocity between different industrial equipment setups.Using a blade, these valves function as a component that cuts through obstructions in heavy liquids and gases.
Such knife gate valves were first introduced to the pulp and paper sector to chop stringy pulp between manufacturing locations.Later, gate valves were quickly adopted by the oil & gas, wastewater treatment, mining, and electricity sectors due to their easy handling and low costs.
The adoption of gate valves has subsequently risen across all production sites.These are often available in big capacities to efficiently handle heavy and viscous slurries, grease, oil, paper pulp, varnish, and wastewater flows, among others.
The availability of products with technology-driven provisions further propels the gate valves market growth.
According to a report issued in March 2019 by the United Nations Organization, 74% of the world’s wastewater dumped into the environment is untreated.The need for wastewater treatment facilities has risen across the world due to the elevating concerns about untreated sewage.
The best water treatment technologies and valves are used to build state-of-the-art treatment facilities.In water treatment plants, gate valves prevent water from flowing when the pumps are turned off.
On the other hand, main air gate valves are mounted on the pump at high points on force to prevent the formation of vacuum pockets. Hence, the growing number of water treatment facilities is likely to create significant opportunities for the gate valve vendors.
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