NEW YORK, June 24, 2019 /PRNewswire/ -- Persistence Market Research's new market research report titled, 'Multiple Orifice Flow Control Valves Market: Global Industry Analysis 2013-2017 and Market Forecast 2018-2028', investigates themultiple orifice flow control valves market, and provides critical insights for the forecast period 2018 to 2028. As per the findings of the report, the global multiple orifice flow control valves market is estimated to witness noteworthy growth during the forecast period, owing to factors such as recovery of crude oil prices, growth in shale gas drilling and production activities, and notable opportunities in nuclear power generation applications.
The global multiple orifice flow control valves market was valuated at around US$ 300 Mn in the year 2017, and is expected to expand at a CAGR of 2.4% during the slated period of 2018 to 2028.
The demand for multiple orifice flow control valves has been driven by the swelling production of oil & gas and chemicals & petrochemicals, and growing investments in water & wastewater and power generation applications. In addition, the replacement of legacy multiple orifice flow control valves is necessary to enhance flow without any interruptions. These factors are expected to be responsible for the projected growth of the multiple orifice flow control valves market during the forecast period.
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East Asia and South Asia are Anticipated to Project Significant Growth Opportunities for Global Multiple Orifice Flow Control Valve Market Players
The global multiple orifice flow control valves market is significantly consolidated, with the top 7 players accounting for around two-fifths of the global market share. Respective governments in countries from East Asia and South Asia are initiating measures to deal with water scarcity due to water pollution, and by investing in wastewater treatment plants. In addition, industrial regulations to reduce wastewater will lead to the installation of multiple orifice flow control valves.
Global players are engaged in expanding their manufacturing capacities in developing economies to cater to the increasing demand for multiple orifice flow control valves. Prominent regions in the global multiple orifice flow control valves market throughout the forecast period are expected to be South Asia and East Asia, because of the increasing oil & gas production and consumption of multiple orifice flow control valves in countries such as China and India. Latin America is expected to drive the growth of the global multiple orifice flow control valves market, owing to growth in process industries.
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The 12" - 24" Diameter of Multiple Orifice Flow Control Valves and Oil & Gas End-Use Industry Segments to Remain Prominent in the Global Multiple Orifice Flow Control Valves Market Over the Forecast Period
The global multiple orifice flow control valves market has been segmented on the basis of valve diameter, operation, and end-use industry, besides seven regions.
- On the basis of valve diameter, the 12" - 24" multiple orifice flow control valves segment accounts for a prominent share in the global multiple orifice flow control valves market, and the adoption of carbon steel-based multiple orifice flow control valves is gaining revenue growth over others.
- Based on operation, the automatic-based multiple orifice flow control valves segment is estimated to account for a large market share. Currently, most end users and industrial operators are looking for automated types of operations for multiple orifice flow control valves to reduce their operational costs. The electric-based automated multiple orifice flow control valves segment is expected to drive revenue growth during the forecast period.
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- Multiple orifice flow control valves find significant application in various end-use industries such as oil & gas, chemicals & petrochemicals, energy & power, and water & wastewater. The oil & gas segment is estimated to be a prominent end-use industry segment in the multiple orifice flow control valves market. Developments in orifice plates and growth in remote operations in some of the end-use industries are expected to drive the adoption of advanced multiple orifice flow control valves.
Multiple Orifice Flow Control Valves Market: Vendor Insights
The report highlights some of the market players that are prominent and have established themselves as leaders in the global multiple orifice flow control valves market. Some of the examples of the key players in this market are Schlumberger Limited, Parker Hannifin, Emerson Electric Co., Baker Hughes (GE), KUBOTA Corporation, IMI Plc., Metso Corporation, Flowserve Corporation, Kurimoto, Ltd., Watts Water Technologies, Inc., and Azbil Corporation, among others. During the forecast period, market strategies to invest in new corrosion-resistant materials at competitive pricing, and setting up new production units in the Latin American, ASEAN and African regions, are expected to drive revenue growth of the global multiple orifice flow control valves market.
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