The Business Research Company’s Metal Valves Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, June 29, 2021 /EINPresswire.com/ — According to the new market research report ‘Metal Valves Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global metal valves market is expected to grow from $229.08 billion in 2020 to $261.57 billion in 2021 at a compound annual growth rate (CAGR) of 14.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $343.33 billion in 2025 at a CAGR of 7%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in metal valve manufacturing, thus driving the market during the forecast period.
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The metal valves market consists of sales of metal valves by entities (organizations, sole traders or partnerships) that produce industrial valves, fluid power valves and hose fittings, plumbing fixture fittings and trim, and/or other metal valves and pipe fittings.
Trends In The Global Metal Valves Market
Many metal valve manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to KPMG report, 16% executives of global metals companies have already invested in robotics for metal manufacturing, 31% executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest on robotics in the near future. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation.
Global Metal Valves Market Segments:
The global metal valves market is further segmented based on type, end user industry, product and geography.
By Type: Industrial Valves, Fluid Power Valve And Hose Fitting, Plumbing Fixture Fitting And Trim, Other Metal Valve And Pipe Fitting
By End User Industry: Chemicals, Marine, Construction, Mining, Oil & Gas, Others
By Product: Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, Other Valves
By Geography: The global metal valves market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global metal valves market, accounting for 38% of the market in 2020.
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Metal Valves Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metal valves global market overviews, analyzes and forecasts market size and growth for the metal valves global market, metal valves global market share, metal valves global market players, metal valves market segments and geographies, metal valves market’s leading competitors’ revenues, profiles and market shares. The metal valves global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Metal Valves Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Metal Valves Market Organizations Covered: Crane, Mueller Water Products, The AVK Group, Emerson Electric Co, Parker Hannifin.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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