Transparency Market Research recently published a report on the global valves market. The study predicts that the market will grow steadily over the forecast period owing to the increasing demand from the consumer industries. The strict government regulations in different countries have also aided the expansion of the global valve market during the forecast period 2019 to 2027 The increasing industrialization and the development of advanced solutions have also contributed significantly to the stages of expansion of the TMR market.

The global valve market is expected to grow at a CAGR of 7%

As per Transparency Market Research analysis, the global valve market has been assessed $69.7 billion and expected to grow at a CAGR of 7% out 2019 to 2027 and reach the market size of US$128.1 billion in 2027

The market is inherently very competitive with the presence of small and medium-sized players. Major players operating in this market employ strategies including mergers and acquisitions, product innovation and development. In addition, some suppliers offer advanced and cost-effective valves that offer improved pressure control.

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Among the major companies operating in the Global Valves Market are: General Electric Company, Scientific AVK Holding A/S, Schlumberger Limited, KITZ Corporation and Goodwin International Ltd.

The oil and gas industry leads the valve market

The oil and gas segment has been estimated to account for the largest market in the global valves market and is projected to maintain its dominance over the forecast period. Factor contributing to the market growth is automation in the oil and gas industry. The use of robots to perform complex industrial tasks has seen a flood. The trend towards plant automation is widespread in the oil and gas industry. Such processes essentially require valves to ensure efficiency. These factors have a high…