Isolation Valves Market | Industry Analysis 2020-2025
This comprehensive report, from Stratview Research, studies the isolation valves market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025. The report estimates the current and future demand for isolation valves at the global and regional levels. The report also studies all the major suppliers of isolation valves located across the globe. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
The Isolation Valves Market: Highlights
An isolation valve is a mechanical device, used to open and shut the flow of fluid via pipeline. A valve is classified as an isolation valve solely due to its desired function/role to isolate the flow of fluid in a process pipe loop. This type of valve is generally used for maintenance and safety purposes in industries such as oil & gas, water & wastewater, and chemical & petrochemicals. In order to select a valve for isolation of flow of fluid, following criteria need to be taken into consideration: operating pressure and temperature range, shut-off (classification and direction), process conditions, flow capacity, pipe connections, manual or automated, required service life, industry standards, system performance, and total cost of ownership.
The isolation valves market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 38.6 billion in 2025. The year 2020 is expected to be extremely challenging for almost all the markets including isolation valves, due to the outbreak of COVID-19 across the world. The growth of the isolation valves market is highly dependent upon the performance of various industrial sectors with the oil & gas industry being the major one.
The oil & gas industry is facing major price drops due to the dual impacts: collapse in demand and surge in supply, which is severely impacting the future investments in the upstream, midstream, and downstream sectors of the oil & gas industry. China, the epicenter of the outbreak, is the world’s largest producer of most of the industrial products. As China’s industrial production is hugely affected due to large-scale production shutdown and with similar trends observed across the world, especially in Europe; the global isolation valves market is expected to witness a slowdown in the year 2020.
The impact of Covid-19 is yet unpredictable. Currently, most of the industries are considering two scenarios: Pessimistic and Optimistic. For instance, as per the current IEA publication, the global oil demand may fall by 730,000 barrels a day in 2020 in the pessimistic low-case scenario (when global measures fail to control the outbreak). In the optimistic high-case scenario (if the virus is contained quickly), the demand may rise by 480,000 barrels a day. The growth of the market is anticipated to remain between these two cases. It is expected that the impact does not last long, and the market will rebound quickly in the coming years, backed by the expected recovery of the industrial sector.
Advancements in various applications of isolation valves in various end-use industries, such as advanced oil & gas production techniques and pipeline processes, are leading towards new developments in isolation valves. Such developments along with continuous R&D efforts laid by key players to produce high-performance isolation valves with improved efficiency and service life are expected to generate healthy growth opportunities in years to come.
Based on the valve type, the isolation valves market is segmented into ball valve; plug valve; gate, globe & check valve; butterfly valve; and other valves. The gate, globe & check valve is likely to remain the dominant segment of the market during the forecast period, owing to its benefits such as good isolation properties, shorter strokes, and minimum pressure loss. These benefits have led to its wide adoption in almost all end-use industries.
Based on the end-use industry type, the market is segmented into oil & gas, power generation, chemical & petrochemical, water & wastewater, and others. Oil & gas is expected to remain the dominant and fastest-growing segment of the market during the forecast period, driven by an expected surge in oil production in 2020. Russia has already announced to increase the production to crude oils from April this year. The recent decline in the crude oil prices due to breach of the three-year-old pact between Russia and OPEC may dwindle the demand for isolation valves in the year 2020. However, the demand for isolation valves in the oil & gas industry is estimated to invigorate after 2020 and create healthy growth opportunities for the market participants.
Based on the operation type, the isolation valves market is segmented into automated valve and manual valve. The manual valve is expected to remain the larger segment, whereas the automated valve is expected to be the faster-growing segment during the forecast period. Gaining momentum of automation valves is due to their various advantages such as precise flow modulation with improved accuracy and efficiency, advanced preventive maintenance ability, and an option to change the flow path between the continuous and batch process. Owing to these benefits along with rapid advancements in valve control technologies, the automated isolation valves market is subjected to offer high-growth opportunities in the years to come.
In terms of region, Asia-Pacific is projected to remain the largest as well as the fastest-growing market for isolation valves during the forecast period. The region is among the largest market for the chemical & petrochemical and power generation industries with China being the largest market in the world. Industrialization, urbanization, and water & wastewater treatment activities coupled with the expected rebound of key economies across the region are the major factors propelling the growth of the region’s market over the forecast period.
North America is projected to remain the second-largest market for isolation valves during the forecast period, mainly driven by the USA. The region is the largest market for oil & gas products and water & water treatment activities. Increasing spending by utilities on pipe rehabilitation for reducing water loss and increasing electricity generation and chemical production is pushing the demand for isolation valves in the region.
The supply chain of this market comprises raw material suppliers, isolation valves manufacturers, distributors, and end-users. The key players in the isolation valves market are Emerson Electric Co., Velan Inc., Flowserve Corporation, Crane Co., Trillium Flow Technologies, MKS Instruments, Inc., Schlumberger N.V., Forbes Marshall, Spirax-Sarco Engineering plc, and Baker Hughes Company. The development of reliable, ease of automation, and cost-efficient isolation valves; expansion in untapped and growing markets; and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The isolation valves market is segmented into the following categories.
Isolation Valves Market, By Valve Type:
Isolation Valves Market, By End-Use Industry Type:
Isolation Valves Market, By Operation Type:
Isolation Valves Market, By Sales Type:
Isolation Valves Market, By Region:
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].