According to the new market research report “Hybrid Valve Market by Material (Steel, Tungsten Carbide, Alloy, Titanium, Duplex Nickel), Valve Size, End-Use Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemicals, and others), and Region – Global Forecast to 2024”, published by MarketsandMarkets™, the global Hybrid Valves Market size is expected to be worth USD 1.0 billion in 2019 and reach USD 1.4 billion by 2024, at a CAGR of 6.4% from 2019 to 2024. The growth of this market can be attributed to the high demand for hybrid valves from various industries such as oil & gas, energy & power, and water & wastewater, mainly from APAC and North America.
Ask for PDF Brochure:
Oil & gas industry to hold the largest share of the hybrid valves industry in 2019
The oil & gas industry is likely to account for the largest hybrid valves market share in 2019. The recent uptrend in the oil & gas industry, the enormous demand for energy from the ever-growing population & expansion of the consumer base in developing economies of Asia Pacific, increase in the pipeline production of oil & gas are the major factors that are likely to drive the hybrid valves market growth in the next few years. In addition, the increasing production of crude oil in the Middle East due to the increase in the oil production in the coming years and the activation of oil rigs in the region will result in the high demand for hybrid valves over the forecast period.
The demand for steel hybrid valves to grow at the highest CAGR during the forecast period
The hybrid valves market for steel is expected to witness the highest growth during the forecast period. The rising demand from industrial production plants for high temperature/pressure applications of valves is expected to drive the market for steel hybrid valve during the forecast period.
APAC expected to hold the largest share of hybrid valves market in 2019
APAC is expected to hold the largest share of the hybrid valves industry in 2019. The growth is attributed mainly to the numerous initiatives taken by the government to encourage the implementation of IoT in the companies in APAC. Increasing oil & gas activities and the growing need for water treatment solutions in countries, such as China, India, and Japan. Due to these factors, the usage of hybrid valves is projected to increase in this region.
Browse in-depth TOC on “Hybrid Valves Market“
169 – Tables
38 – Figures
189 – Pages
Request Sample pages of the Report:
A few key players operating in the hybrid valves industry are Emerson (US), IMI PLC (UK), Trillium Flow Technologies (US), and Dymet alloys (UK).
Please Explore Relevant Reports:
Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography – Global Forecast to 2023
Control Valve Market by Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Valve Size, Valve Components (Actuators, Valve Body, Others), Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power), and Geography – Global Forecast to 2024
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hybrid-valve-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/hybrid-valve.asp