The industrial valve market is expected to grow from USD 70.53 billion in 2018 to USD 85.19 billion by 2023, at a CAGR of 3.96% from 2018 and 2023. Key factors driving the growth of the industrial valve market include the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient.
This is an overview of a recent report from Reportbuyer.com that covers the global valve market and projects that the largest growth will come from the Asia Pacific (APAC) region.
At the same time, valves ranging in size from 1″ to 6″ are expected to account for the biggest increase in valve sales.
You can download the full report (paid) here: ReportBuyer.com