RALEIGH, North Carolina, January 24, 2019
RALEIGH, North Carolina, January 24, 2019 /PRNewswire/ --
The global industrial valves market is expected to grow at a CAGR of 4 - 5 percent until 2020, according to Beroe Inc., a procurement intelligence firm. The tremendous rise in demand for power in developing regions has given rise to the need for power plant investments, leading to an increase in demand for industrial valves.
Developing regions such as LATAM, Middle East, Africa, and APAC boost the growth of industrial valves globally due to increased investment in infrastructure such as power plants, water supply lines, and sewage water treatment facilities. The utilization of smart valves is increasingly being adopted in North America and Europe because of their ability to control fugitive emissions which are required for compliance with environmental regulations.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
The immense growth in the demand for power in developing regions has given rise to the need for power plant investments, leading to an increase in demand for industrial valves. However, patent violations and copies of the original by the local players would hamper the growth of the industrial valves market due to the copies being relatively cheaper.
A major trend in the industrial valve market is the use of robotics in handling complex and repetitive tasks such as replacing broken valves, which has remarkably reduced labor requirements. The use of control valves has helped in reducing fugitive emissions, while also reconditioning older valves rather than replacing them.
The industrial valves market has constant innovation taking place; for instance, the chemical sector has replaced generic valves with smart valves. Since the market is highly fragmented with the entry of global players, competition has increased and local players are adopting newer technologies to stay competitive.
The research methodology adopted for the report included:
Technical specifications and type of material of the valve have to be as per design mentioned in the contract. Products failing to comply will be returned to the supplier for rectification. For valves of high precision, which are critical for operation, a global manufacturer is an ideal fit. But for valves of low critical application, local/regional suppliers can be engaged at a competitive price point and quicker delivery.
The report also includes:
Cost and Pricing Analysis:
Procurement Best Practices:
About Beroe Inc.:
Beroe's unique business model involves providing market intelligence and analytics to the procurement teams of businesses across the globe. Beroe leverages its deep domain expertise in 300 + categories across 14 industries. It boasts of more than 80 of the Fortune 500 companies as its clients.
To learn more about Beroe Inc, please visit http://www.beroeinc.com