According to our latest market study on "Global Gate Valve Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Valve Type, Application, and Valve Size," the market is projected to reach US$ 12,988.40 million by 2028 from US$ 8,712.18 million in 2020. It is estimated to register a CAGR of 4.5% during the forecast period.

Market Driver: Global Gate Valve Market
Growth in Industrialization Powers Demand for Gate Valves
Ever since the Industrial Revolution began, there has been a significant increase in industrial production capacity due to technological advancements. This has resulted in a rise in the global economy's reliance on manufacturing. PricewaterhouseCoopers (PwC) has identified several factors, including growing economies, labor quality, tax policies, regulatory environments, and transportation and energy prices, that have contributed to the manufacturing sector's recovery after the pandemic's impact. As a result of the manufacturing sector's growth, markets that rely on mechanical equipment, such as providers, are thriving. Additionally, the emergence of new consumer categories in developing nations is expected to provide significant opportunities for manufacturers. As demands evolve due to innovation, manufacturers are compelled to use modern equipment, such as gate valves, in their production facilities.

Gate valves play a critical role in facilitating fluid velocity between different industrial equipment setups. By using a blade, these valves can effectively cut through obstructions in heavy liquids and gases. Initially, knife gate valves were introduced for chopping stringy pulp between manufacturing locations in the pulp and paper sector. However, due to their ease of handling and low costs, gate valves quickly gained widespread adoption in various sectors, including oil & gas, wastewater treatment, mining, and electricity. Today, gate valves are widely used in all types of production sites, with big capacities that can efficiently handle heavy and viscous slurries, grease, oil, paper pulp, varnish, wastewater flows, and more. Moreover, with the availability of gate valves featuring technology-driven provisions, the market for these valves is expected to continue growing.

The gate valve market report includes a detailed competitive analysis of the global market players, including Weir Group Plc.; ITT Inc.; Emerson Electric Company; Velan Inc.; Jash Engineering Ltd.; Mueller Water Products Inc.; Process Systems; T-T Pumps; Econosto; Red Valve Company, Inc., FKB; and KSB SE & Co KgaA. Several industrial activities, including product introduction, acquisition, agreement, and expansion, are taking place in the gate valve market globally. ITT Friction Technologies, for example, opened its new state-of-the-art factory in Silao, Mexico, in May 2018.

Gate valves are primarily used in the oil and gas industry, which is the largest end-user of these valves. In the extraction and processing of crude oil and gas, pipelines are crucial, and valves are used to regulate the flow of these resources. Due to the limited geographic locations where these resources are found and their global consumption, pipelines are also essential for the distribution of oil and gas products. As industrialization continues to grow steadily, so does the demand for oil and gas. In this context, the UAE has announced its plans to invest US$ 127 billion between 2022 and 2026 to increase its oil and gas production levels. Similarly, Russia has announced its plan to triple its LNG production to 140 million tons per year by 2035. Consequently, the increasing investments in boosting oil production provide significant growth opportunities for the players in the gate valves market.

During the course of the research study, various leading industry experts, global sales managers, key opinion leaders, and industry veterans shared their valuable and critical insights about global and regional trends related to the gate valve market.

Key Findings of Study:
The global gate valve market is analyzed based on four main factors: valve type, valve size, application, and geography. The valve type segment includes flexible wedge, solid wedge, and split wedge or parallel disks valve. The gate valve market is further segmented based on its application, which includes oil & gas, water and wastewater treatment, chemicals, and others. Additionally, the valve type segment is divided into solid wedge, flexible wedge, and parallel disk or split wedge. The market is also segmented by valve size, which includes 2" to 12", 14" to 36", and above 42". Finally, in terms of geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com