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(I-AutoNewsWire.com, April 27, 2022 ) The Americas industrial valve market is anticipated to witness a growth rate of 3.9% over the. Market expansion is predicted to be driven by increasing usage of industrial valves across industries such as oil & gas, chemicals, water and wastewater treatment, power plants, paper pulp, and other industrial sectors.
Companies are continuously exploring possible acquisition opportunities and striving to be at the forefront to tackle market challenges. This is done through excelling operations in new oil & gas regions and emerging markets. Major market players are focusing on developing industrial valves especially for oil & gas industries with applied product standards.
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To sustain through harsh mining conditions, the mining industry demands high-quality industrial valves for both, surface and underground mining. Valves are also used in fire protection systems and at pump stations.
Workers feel uncomfortable when they work in deep mine coals due to the presence of harmful gases and also because the failure rate of conventional equipment can increase due to abnormal pressure and temperature. Therefore, demand for specialized equipment and parts, such as highly featured industrial valves, is increasing continuously.
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Key Takeaways from Market Study
• Manual industrial valves are expected to hold a major market share in terms of volume, whereas = automatic industrial valves will account for a higher growth rate.
• Based on end use, the oil & gas industry is projected to hold more than 30% share of the Americas market in 2022.
• The U.S. and Canada are anticipated to remain prominent markets for industrial valves and account for more than 80% demand in 2022.
• Based on valve type, ball, globe, and gate valves are projected to hold a considerable share in the Americas industrial valve market.
• Revenue generation from the industrial valve market in the Americas is projected to reach US$ 28.65 Bn by the end of 2032.
“Emergence of the internet of things (IoT) has revolutionized industrial settings and the oil & gas industry, which is one of the key factors giving a strong impetus to the growth of the Americas industrial valve market,” says a Persistence Market Research analyst.
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The Americas industrial valve market is moderately consolidated among leading manufacturers. Prominent players in the market are actively investing a significant share of their turnover in continuous product development, which is an important tool to differentiate themselves from competitors and position themselves in a high-quality niche
Key industrial valve manufacturers include Emerson Electric, Watts Water Technologies, Inc, Weir Group Plc, Flowserve Corporation, Alfa Laval Corporate AB, National Oilwell Varco, Inc., CIRCOR International Inc., and KSB SE & Co. KGaA.
Read More Trending Reports of PMR – https://www.globenewswire.com/news-release/2022/04/13/2422092/0/en/Americas-Industrial-Valve-Market-is-projected-to-expand-steadily-at-a-CAGR-of-3-9-by-2032.html
Adoption of automated valves in new chemical plants for the production of crude oil by-products across Argentina, Peru, and Brazil, rising government prominence on oil & gas installations, and increasing distinctive downstream oil & gas production across the U.S are expected to enhance demand for industrial valves in American countries.
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Persistence Market Research