Global Industrial Spray Valves Market Overview
The global industrial spray valves market size was valued at USD 225 million in 2019, and estimated to reach 290 million by the year 2027 with a significant CAGR of 3% during the forecast period of 2021-2027. The key drivers impacting the industrial spray valves market is the growing oil and gas industry and chemical industry at the global level. According to the report, the chemical industry touches nearly every goods-producing sector, making an estimated $5.7 trillion contribution to world Gross Domestic Product (GDP) through direct, indirect, and induced impacts.
In addition to this, the adoption of industrial spray valves in the chemical industry for a wide range of process engineering and control tasks. Most media, such as steam, fluids, gases, etc., can be excellently controlled using valves. Thus it is anticipated to increase the industrial spray valves market demand under the forecast period.
The technological innovations aimed at automation of industrial processes enabling high productivity, reliability, and smart manufacturing process is also estimated to be a key determinant adding growth to the market. However, the disparity in supply and demand and fluctuating prices may hamper the global industrial spray valves industry in the long run. Also, the coronavirus (COVID-19) pandemic had negatively impacted the end-user industry from every direction to restrict the market growth. The growing trend of smooth and efficient spraying has led the equipment manufacturers to manufacture more advanced industrial spray valves in the coming decade are creating new market opportunities for the key players.
The industrial spray valves market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, in 2018, T&S Brass had acquired Italian manufacturer Klarco SRL to improving their ability to provide superior products and service to our customers around the world. The report studies a few key players of the global industrial spray valves market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Dymax, Fisnar, Nordson, SchuF Group, Techcon Systems, AquaGlobe, Axxon, DAV Tech, Dropsa, Emerson, Gentec Benelux, HILGER U. KERN, Inchimica, Strahman Valves, T&S Brass, TEEJET TECHNOLOGIES, Texas Industrial Remcor, Transland, Unicontrols Singapore, always been the initial targets of industrial spray valves companies and many others.
In this market research report, the market is segmented by type, applications and region.
Analysis by Type
By type, the report is categorized into Linear spray valves and Radial spray valves. Radial industrial spray valves are expected to witness a significant growth rate during the forecast period.
Analysis by Applications
By applications, the report is categorized into water and wastewater industry, oil and gas industry, Agriculture industry. An oil and gas industry dominates the application segment in 2019 with a maximum market share of 20%. It is expected to maintain its dominance over the forecast period because of its widespread usage of oil and gas as a raw material in manufacturing various products.
Analysis By Region
In the regional outlook of the global industrial spray valves market, Asia pacific dominates with over 33% of shares in 2019. Asia Pacific region is the significant region globally driving the market share over a forecast period. The rapidly growing demand in China and the growth of end-user industries such as agriculture and chemical industry are the primary growth factors contributing at a regional level. The APAC market is anticipated to record considerable growth during the forecast period due to the rising number of industries, the trend of industrial and expanding end-user industry in the region.
Market Segmentation covered in the Report:
- Linear Spray Valves
- Radial Spray Valves
- Oil and Gas Industry
- Power Generation Industry
- Agriculture Industry
- Water and Wastewater Industry
- Chemical and Petrochemical Industry
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.