According to the recent study the gate valve market is projected to reach an estimated $12.3 billion by 2028 from $9.8 billion in 2023, at a CAGR of 4.6% from 2023 to 2028. Growth in this market is primarily driven by widespread demand for these valves in municipal settings to limit water flow for residential use and significant use of these valves in oil and natural gas exploratory activities.
A more than 150–page
report is developed to understand trends, opportunities and forecast in gate
valve market by product type (parallel slide gate valve, solid wedge gate
valve, flexible wedge gate valve, double-disc valve, and others), material
(stainless steel, brass, PVC, and others), end use industry (oil & gas,
manufacturing, automotive, marine, and others), and region (North America,
Europe, Asia Pacific, and the Rest of the World).
“Solid wedge gate valve market is expected to remain the largest
segment during the forecast period.”
Based on product type,
the gate valve market is segmented into parallel slide gate valve, solid wedge
gate valve, flexible wedge gate valve, double-disc valve, and others . Lucintel forecasts
that the solid wedge gate valve market is expected to remain the largest
segment due to the considerable utilization of these valves owing to their
durability and simplicity.
“Within the gate valve market, the oil & gas segment is expected
to remain the largest end use industry.”
Based on end use
industry the oil & gas segment is expected to witness the highest growth
over the forecast period due to the extensive usage of these valves for the
upstream, middle, and downstream activities to provide a suitable solution for
flow rate management and maintenance.
“Asia pacific will dominate the gate valve market in near future.”
APAC will remain the
largest region due to the continuous expansion of manufacturing units,
increasing investment in the pipeline infrastructure for downstream uses in the
oil and gas sector, and rapid urbanization in the region.
Major players of gate
valve market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Crane, Curtiss-Wright,
Flowserve, IMI Critical Engineering, and XHVAL Valve are among the major gate
valve providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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