The global gate valve market was valued at US$ 9.2 billion in 2021 and it is anticipated to grow up to US$ 14.5 billion by 2031, at a CAGR of 4.6% during the forecast period.
A gate valve is a mechanical device that closes and opens or partly obstructs multiple entrances to control or regulate fluid flow (liquid or gas). Gate valves are commonly used in municipal applications to restrict the water flow for residential uses.
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These valves are also used in industries such as oil & gas and chemicals to accomplish critical functions related to fluids. Flexible wedge, solid wedge, split wedge, and parallel disc valves are among the type of gate valves employed in these industries. They can operate manually with the help of levers or other devices or automatically by using sensors and programming.
Market Drivers and Trends
In the oil & gas sector, gate valves have widespread applications in upstream, middle, and downstream operations. These valves employ a gate mechanism to open or close a pipeline completely. They provide an apt solution for the regulation and maintenance of flow rates. Thus, with the flourishing oil & gas sector worldwide, the gate valves market will likely keep up its pace during the forecast period.
According to research findings, the global energy demand is expected to increase by 50% over the next two decades. This projected surge in demand is mainly attributed to the expanding population worldwide and rising living standards in emerging countries. Despite the burgeoning popularity of new and renewable energy sources, petroleum remains a key energy source. New refineries are being planned at several locations across the world. Thus, the flourishing oil and gas sector contributes to the gate valve market proliferation.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Gate Valve Market Segmentation
By Valve Type
- Flexible Wedge
- Solid Wedge
- Split Wedge or Parallel Disks Valve
By Material Type
- Cast Iron
- Steel
- Alloys
By Application
- Oil & Gas
- Water & Wastewater Treatment
- Chemical
- Others
Major Players in the Global Gate Valve Market
The key players studied in the global gate valve market are Econosto Oy (Finland), Emerson Electric Co. (US), ITT Inc. (US), Jash Engineering Ltd (India), Mueller Water Products, Inc. (US), Process Systems (Australia), RED VALVE COMPANY, INC. (US), The Weir Group PLC (UK), T-T Pumps (UK), and Velan Inc. (Canada).
COVID-19 Impact
In 2020, the COVID-19 pandemic resulted in economic challenges owing to subsequent lockdowns. In 2020, the manufacturing industry was severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities had limited the expenditure on the production of gate valves worldwide. Thus, the COVID-19 pandemic negatively affected the global gate valve market in 2020.
However, in 2021, the manufacturing industry started recovering from the significant labor and supply chain challenges that triggered the production of gate valves.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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