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Oil and Gas Valves Market Development Trends, Competitive Analysis & Key Manufacturers Report 2022 to 2029

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Sagar Gunjal
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4 min read

The global oil and gas valves market was valued at around US$ 10 billion in 2014. The global oil and gas valves market is expected to be worth more than US$ 12 billion by the end of 2022. The oil and gas valves market is expected to grow at a 3.5% CAGR from 2022 to 2029, reaching nearly US$ 16 billion by the end of 2029.

Future Market Insights (FMI) recently released a market study titled ‘Oil & Gas Valves Market: Global Industry Analysis 2014 to 2021 and Opportunity Assessment 2022 to 2029,’ which examines the global oil & gas valves market and provides an in-depth analysis for the forecast period of 2022 to 2029.

Furthermore, the oil & gas market research report evaluates the prominent forecasting factors that are expected to further augment the growth of the oil & gas valves market on a global and regional scale. Furthermore, the report discusses the key industry dynamics influencing the global oil and gas valves market across the supply and value chains.

Get a Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9671

A list of Key Players Covered in the Oil & Gas Valves Market are:

  • Emerson Electric Co.

  • CIRCOR International Inc.

  • Schlumberger Limited

  • PARKER HANNIFIN CORP

  • Weir Group Plc.

  • Metso Corporation

  • BAKER HUGHES

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.

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.

Key vendors in the oil & gas valves market must focus on investing in research and development-related projects, particularly in emerging markets such as China, Brazil, and India.

Get Full Access on this Report @
https://www.futuremarketinsights.com/reports/oil-and-gas-valves-market

Oil & Gas Valves Market By Category

By Product Type:

  • Gates

  • Globes

  • Balls

  • Butterflies

  • Checks

  • PRVs

  • Others

By Size:

  • 0.25 to 8 inches

  • 8 to 20 inches

  • Above 20 inches

By Body Material:

  • Cast

  • Forged

By Application:

  • Upstream

  • Midstream

  • Downstream

Region:

  • North America

  • Latin America

  • Europe

  • South Asia

  • East Asia

  • Middle East & Africa

Oil and Gas Valves Market