The global oil and gas valves market was estimated at roughly US$ 10 billion in 2014. The global oil and gas valves market is anticipated to be valued more than US$ 12 billion by the end of 2022. The oil and gas valves market is estimated to increase at a 3.5% CAGR from 2022 to 2029, reaching roughly US$ 16 billion by the end of 2029.
FMI recently issued a market report titled ‘Oil & Gas Valves Market: worldwide Industry Analysis 2014 to 2021 and Opportunity Assessment 2022 to 2029,’ which covers the worldwide oil & gas valves industry and provides an in-depth analysis from 2022 to 2029.
Furthermore, the oil & gas market research report assesses the key forecasting factors expected to boost the growth of the oil & gas valves market on a global and regional scale. The report also discusses the key industry dynamics influencing the global oil and gas valves market along the supply and value chains.
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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.
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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
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Taxonomy
2.2. Market Definition
- Key Success Factors
- Global Oil & Gas Valves Market Demand Analysis 2014 – 2021 and Forecast, 2022-2029
4.1. Historical Market Volume (Units) Analysis, 2014 – 2021
4.2. Current and Future Market Volume (Units) Projections, 2022-2029
4.3. Y-o-Y Growth Trend Analysis
- Global Oil & Gas Valves Market – Pricing Analysis
5.1. Regional Pricing Analysis By Product Type
5.2. Pricing Break-up
5.3. Global Average Pricing Analysis Benchmark
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