The global gate valve market size recorded sales of US$ 12.9 billion in 2018. The market is poised to hold a revenue of USD 24.3 billion in 2033.
The global gate valve market is set for significant expansion, with projected revenues reaching USD 14.8 billion by 2023. Industry forecasts indicate a consistent Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2033. This trajectory positions the gate valve market to achieve a noteworthy milestone of USD 24.3 billion by the end of the assessment period, underscoring its resilience and substantial growth potential. Slide Valve
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Central to this growth narrative are the strategic initiatives implemented by industry frontrunners. These market leaders strategically focus on seizing opportunities in offshore and chemical gate projects, effectively strengthening their presence and market dominance within the gate valve sector. Their forward-thinking actions align seamlessly with the escalating demand for gate valves in critical industries such as energy, oil and gas, and chemical processing.
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Gate Valves: Essential Components for Oil & Gas Sector Operations
Gate Valves play a pivotal role within the oil & gas sector, acting as crucial tools for controlling the flow of hydrocarbons during exploration, drilling, and production endeavors. These valves find extensive usage in key infrastructure elements such as wellheads and Christmas trees, where they assume the responsibility of managing oil & gas flow, upholding safety standards, and preventing potential leaks.
The versatile application of Gate Valves spans across both the upstream (exploration and production) and midstream (transportation and storage) segments of the oil & gas industry. In the upstream domain, these valves are strategically placed at wellheads and production facilities. Meanwhile, within the midstream sector, Gate Valves find their role in pipelines and storage tanks, facilitating the smooth transportation and storage of fluids.
Key Insights from Gate Valve Market Analysis:
Prominent Players in the Gate Valve Market:
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Gate Valve Market Segmentation:
The industrial valve market size is expected to be valued at USD 123.05 billion by 2034.
The North America residential ball valves market will grow at a CAGR of 5.6%, reaching a valuation of USD 554.1 Million in 2032.
The valve remote control systems market to exceed USD 15.1 billion by the end of 2033.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
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Angle Valve 15mm Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.