The demand for industrial valves in China is rising, due to the country’s increasing population and vehicle sales. According to the U.S. Energy Information Administration, the country will produce 4.9 million barrels of petroleum per day by 2025. In addition, the government is currently exploring new reserves to increase production levels. This will spur the growth of the market for industrial valves in China. Here are some of the factors that are driving the growth of the market for industrial valves.
The development of the healthcare industry and the rapid industrialization in China are the major factors driving the growth of the industrial valves market in the country. This trend is expected to continue for the foreseeable future. With new facilities being built all over the world, demand for these devices will continue to rise. This will boost the demand for pipe valves and industrial valves, and will drive the growth of the market for these devices. As a result, China is set to become one of the top five global markets for industrial valves https://www.linquip.com/suppliers-companies/manufacturer?category_id=339&cn=valve in the coming years.
As the COVID-19 pandemic spread across the world, the demand for industrial valves increased. The energy and power industries are among the key industries that use industrial valves. With these industries growing at a rapid rate, the need for these valves will also continue to increase. Moreover, the emergence of emerging economies in developing countries like China is fueling the growth of the industrial valve industry in the region. It is anticipated that China will be a key market for industrial-grade valves in the coming years.
The industrial valves market is highly fragmented and can see substantial growth in the coming years. As a result, mergers and acquisitions are an important strategy to increase market share and improve product portfolios. As the oil & gas industry looks to streamline processes, large players are increasingly buying up small companies with innovative solutions. For example, Emerson acquired Advanced Engineering Valves in Belgium in 2018. This is an indication that the market is set to increase substantially in the coming years.
As the oil & gas industry grows in size, the demand for industrial valves is set to increase significantly. The market is expected to grow at a steady pace through the 2020s, owing to the increasing number of pipeline projects and government investments in the sector. For instance, the oil & gas industry is a large and fragmented market, and mergers and acquisitions can improve the market’s competitiveness and improve product portfolios.
The industrial valve market in China is highly fragmented. Despite its fragmentation, some companies have acquired smaller companies to increase their market share and enhance product portfolios. A major example is Emerson’s acquisition of Advanced Engineering Valves (Belgium). Such mergers may also result in the development of new products. It is a good sign for the market, especially since the oil & gas industry is becoming increasingly efficient in its processes.