Global Industrial Valves Market in Oil and Gas Industry 2019-2023
SKU ID :TNV-14770515 | Published Date: 06-Dec-2018 | No. of pages: 124Description
About this market
Valves are undergoing change to suit the growing requirements of end-users for data analytics. Whether it is an oil and gas upstream facility or a refinery, there are many valves that are used in multiple processes and operations. Valve diagnosis can help in attaining preventive maintenance by offering clear, real-time data regarding valve performance. In addition, by assessing the results from diagnosis at regular intervals, end-users can analyze trends in valve performance, which can later be used for improving the valves or maintenance. With the help of diagnostic services for valves, end-users can reduce operation and maintenance costs while improving process reliability. End-users can also take advantage of new advanced technology for diagnostic purposes without the need to invest in any hardware or software. The global industrial valves market at a CAGR of over 6% during the forecast years.
Rise in demand for more efficient valves
The growth of unconventional hydrocarbon resources, such as shale oil and gas as well as oil tar sands, has also provided new opportunities for the industrial valves in the oil and gas industry. These valves are used for enhanced oil recovery and also for artificial lifts in such unconventional oil and gas fields. The high investments in shale fields will also contribute to the demand for more efficient valves in the oil and gas industry.
Price fluctuations of raw materials
The high market competition also implies a small price rise can tilt the competition. Derivative instruments can hedge the risk of price volatility. However, fluctuating prices will continue to represent a significant challenge for the industrial valves market in the oil and gas industry during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the industrial valves market in the oil and gas industry during the 2019-2023, view our report.
The industrial valves market in the oil and gas industry is moderately fragmented owing to the presence of several market players. A strong focus by vendors has also resulted in the development of additive manufacturing as vendors are moving from testing and pilot projects to mass production of products through additive manufacturing. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies
Valves are undergoing change to suit the growing requirements of end-users for data analytics. Whether it is an oil and gas upstream facility or a refinery, there are many valves that are used in multiple processes and operations. Valve diagnosis can help in attaining preventive maintenance by offering clear, real-time data regarding valve performance. In addition, by assessing the results from diagnosis at regular intervals, end-users can analyze trends in valve performance, which can later be used for improving the valves or maintenance. With the help of diagnostic services for valves, end-users can reduce operation and maintenance costs while improving process reliability. End-users can also take advantage of new advanced technology for diagnostic purposes without the need to invest in any hardware or software. The global industrial valves market at a CAGR of over 6% during the forecast years.
Market Overview
Rise in demand for more efficient valves
The growth of unconventional hydrocarbon resources, such as shale oil and gas as well as oil tar sands, has also provided new opportunities for the industrial valves in the oil and gas industry. These valves are used for enhanced oil recovery and also for artificial lifts in such unconventional oil and gas fields. The high investments in shale fields will also contribute to the demand for more efficient valves in the oil and gas industry.
Price fluctuations of raw materials
The high market competition also implies a small price rise can tilt the competition. Derivative instruments can hedge the risk of price volatility. However, fluctuating prices will continue to represent a significant challenge for the industrial valves market in the oil and gas industry during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the industrial valves market in the oil and gas industry during the 2019-2023, view our report.
Competitive Landscape
The industrial valves market in the oil and gas industry is moderately fragmented owing to the presence of several market players. A strong focus by vendors has also resulted in the development of additive manufacturing as vendors are moving from testing and pilot projects to mass production of products through additive manufacturing. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies
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