March 29, 2020
Pressure Reducing Valve

Pressure Reducing Valve Market| Steam Application Dominated the Market

The pressure reducing valve market is set to grow with a CAGR of 4.2% during the forecast period, up from US$1.50 Bn in 2018.

Market Insights

The global pressure reducing valve market is driven by the increasing automation across the industrial facilities. As the competition among the market players is increasing and the profit margins are reducing, the organizations are moving towards the automation to reduce the operation cost and gain operational efficiency. This is encouraging the adoption of the pressure reducing valve to maintain a constant pressure across the pipelines and refineries. Furthermore, the integration for the IoT sensors into the pressure reducing valve is further accelerating the demand in the market. Additionally, the increasing number of oil & gas exploration activities across the globe is augmenting the market growth. 

Get sample copy of report here: https://www.credenceresearch.com/sample-request/59879

The pressure reducing valve market is segmented based on the application into chemical, food & beverage, hospitality, oil & gas, pharmaceuticals, power generation, and pulp & paper. The chemical industry is leading the market with the majority share of 35% in the pressure reducing valve market. Furthermore, the pressure reducing valves are extensively used in the oil & gas industry to monitor and maintain constant pressure. Furthermore, the stringent government regulations across the countries regarding the safety standards are driving the market growth. 

Based on geography, North America generated the largest revenue by holding approximately 38% of the market share. Rapid developments in the industrial sector is the major factor attributed to this high market share. However, Asia Pacific is estimated to grow substantially during the projected timeline. The growth of the market is driven by increasing industrialization across the region. The growing public and private investment in the oil & gas industry also propels the growth of the market. Moreover, the increasing trend of automation across the industry verticals is accelerating the adoption of the pressure reducing valve.

Report originally published at Credence Research: https://www.credenceresearch.com/report/pressure-reducing-valve-market

Segmentation  

 Material Segment (2017–2027; US$ Bn)

 • Bronze

 • Carbon steel

 • Cast Iron

 • Cast steel

 • Ductile Iron

 • Stainless steel

 Pressure Segment (2017–2027; US$ Bn)

 •50-200 psig

 •201-500 psig

 •501-800 psig

 •Over 800 psig

 Application Segment (2017–2027; US$ Bn)

 • Steam application

 • Gas application

 • Liquid application

 Industry Verticals Segment (2017–2027; US$ Bn)

 • Chemical

 • Food & Beverage

 • Hospitality

 • Oil & Gas

 • Pharmaceuticals

 • Power generation

 • Pulp & Paper

 Geography Segment (2017–2027; US$ Bn)

 •North America (U.S., Rest of North America)

 •Europe (U.K., Germany, France, Rest of Europe)

 •Asia Pacific (China, Japan, India)

 •Rest of Asia Pacific (Rest of the World, Middle East & Africa, Latin   America)

Some of the major companies profiled in the report include Fushiman Co. Ltd., Caleffi S.P.A., Armstrong International Inc., Forbes Marshall, Genebre SA, CIRCOR International Inc., HYDAC, Itap Spa, TLV, Spirax Sarco Engineering PLC, Watts Water Technologies Inc., Yoshitake Inc., and HAWE Hydraulik SE.

Get sample copy of report here: https://www.credenceresearch.com/sample-request/59879

About Credence Research
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.Media Contact
Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
(US/CANADA) Ph.: +1-800-361-8290
E-mailsales@credenceresearch.com

Leave a Reply

Your email address will not be published. Required fields are marked *