Gate Valve Market Overview On Revolutionary Trends

Gate Valve: Introduction

• A gate valve is used to control flow of fluids such as oil and gas in the pipes. It is used in various industries to safeguard the machinery and process from explosions. Gate valves control the fluid by obstructing the pathways of fluids fully or partially. They can operate manually with the help of levers or other devices, or automatically by using sensors and programming.
• Increasing industrial applications due to growth in industrialization and urbanization is anticipated to fuel the demand for gate valves in the coming years. Metal fabrication, and oil and gas are the major consumers of gate valves. Growth in these industries across the globe is expected to encourage the demand for gate valves during the forecast period.

Key Drivers of the Global Gate Valve Market

• Major consumers of gate valves are oil and gas, petroleum, and pharmaceutical industry. Growth in industries across the globe owing to rapid economic development in several emerging countries surges the demand for different industrial products including gate valves. Growing demand for petroleum products is encouraging petroleum industries to increase the production which also supports the gate valve market.
• Manufacturers are focusing on technological advancement and product innovations to cater to increasing demand in diverse regional markets across the globe. Improvement in features of gate valves such as friction reduction and pressure management, and continuous improvement in valve efficiency is expected to stimulate the gate valve market during the forecast period.

Gate valves have lucrative opportunities in developing countries across the globe

• Surge in development rate across emerging countries in Asia Pacific and South America is taking place due to increasing number of industries and significant population growth. Gate valves are mainly preferred in industries such as petrochemicals, petroleum, and metal fabrication. These industries are expected to show growth across most of the emerging economies which is anticipated to create lucrative opportunity for gate valve manufacturers to expand their business in the coming years.

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Volatile price of raw material and high maintenance cost of gate valves expected to hamper the market

• Increasing volatility in raw material prices and high maintenance cost of gate valves is anticipated to hinder the market growth during the forecast period. Growing volatility in raw material prices influences the ability of manufacturers to produce gate valves based on specific requirements. However, companies are increasing investment in research and development for cost-effective technology to reduce the cost of gate valves.