Isolation Valves Global Market Report 2023
Major players in the isolation valves market are Emerson Electric Co., Orion Valves, KITZ Corporation, Spirax-Sarco Engineering PLC., Frank’s International NV, The Weir Group PLC., Flowserve Corporation, Velan Inc.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Isolation Valves Global Market Report 2023" - https://www.reportlinker.com/p06479941/?utm_source=GNW , Crane Company, Trillium Flow Technologies, MKS Instruments Inc., Schlumberger Limited., Forbes Marshall, Baker Hughes Company, Colton Industries and Della Foglia Srl.The global isolation valve market is expected to grow from $3.40 billion in 2022 to $3.57 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The isolation valve market is expected to reach $4.42 billion in 2027 at a CAGR of 5.5%.The isolation valves market consists of sales of gate valves, check valves, horizontal explosion isolation valves, and vertical explosion isolation valves.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Isolation valves are a type of valve that shuts off the flow of fluid or gas in a system. They are utilized for pressure gauge isolation, pressure transmitter isolation, orifice plate pressure tapings, and various measurement devices.Asia-Pacific was the largest region in the isolation valve market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main isolation valves types are ball valves, butterfly valves, knife gate valves, plug valves, and others.A ball valve is a form of shut-off valve that controls the flow of a liquid or gas using a rotating ball with a bore.The various operation types are automated valve, and manual valve through various sales channels that are original equipment (OE), and aftermarket. The end-use industries are oil and gas, power generation, chemical and petrochemical, water and wastewater, and others.The growth of the oil and gas industry is expected to propel the growth of the isolation valve market going forward.The oil and gas industry refers to the global process of exploring, mining, processing, transporting, and distributing petroleum and natural gas products to supply energy to diverse sectors such as transportation, manufacturing, and power generation.Isolation valves are a key element in the oil and gas industry, as they are used to isolate specific parts of a pipeline or process system to facilitate maintenance, repair, and safety procedures, as well as to control the flow of fluids or gases, prevent backflow, and regulate pressure. For instance, in September 2022, according to Statistics Canada Highlights, a Canada-based intergovernmental organization, Canada’s total gross revenue in the oil and gas extraction industry increased by 85.7% from $93.7 billion in 2020 to $174.0 billion in 2021. Therefore, the growth of the oil and gas industry is driving the growth of the isolation valve market going forward.Product innovations are a key trend gaining popularity in the isolation valve market.Companies operating in the isolation valve market are adopting new innovative products to sustain their position in the market.For instance, in October 2020, Fike Corporation, a US-based company that produces industrial safety solutions that safeguard individuals and organizations against flammable dust explosions and pressure-related explosions, launched the New Explosion Isolation Valve with Dual Flaps.The dual-flap isolation valve is excellent for implementation in both horizontal and vertical positions, next to bends, and near containers due to the quickly-closing flaps.Fike DFI is also suitable for almost any industrial use due to its capacity to tolerate forces of up to 1.5 barg and its efficiency against a variety of burning dust such as ST1, ST2, and ST3.In December 2021, Severn Glocon UK Valves Limited, a UK-based company that produces and supports high-quality valves for the energy sector, acquired ValvTechnologies for an undisclosed sum.This acquisition broadens, diversifies, and enriches Severn’s portfolio by increasing the family’s international presence, broadening the sectors served, expanding its product offering, and benefiting from a combined approach to delivering on-site service support capabilities across all markets.ValvTechnologies is a US-based manufacturer of steel-seated, zero-leakage isolation valves for high-pressure applications that operates in the isolation valve market.The countries covered in the isolation valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The isolation valves market research report is one of a series of new reports that provides isolation valves market statistics, including isolation valves industry global market size, regional shares, competitors with an isolation valves market share, detailed isolation valves market segments, market trends and opportunities, and any further data you may need to thrive in the isolation valves industry. This isolation valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479941/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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