Isolation and Shut off Valve Market: Overview
The flow of a fluid (liquid, slurry, gas) can be controlled, directed and regulated by closing, partially obstructing or opening the passageways through which they are flowing. An isolation valve is used safety and maintenance purposes. The isolation valves help in obstructing the passageway of fluid in one location. Isolation valves also help in providing the flow logic, wherein one flow path can be selected over the other. External devices can also be connected to a system with the help of isolation valves. Isolation valves are so called because of their function, hence many types of valves are classified as isolation valves. Due to lack of differentiation between products, a new trend has started. Local as well as international vendors of the global valve market are now selling customized safety and isolation valves in the market.
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Isolation and Shut off Valve Market: Drivers and Restraints
Owing to huge investments in the manufacturing facilities and increasing innovation in the technology of isolation valves, the isolation valve market is expected to show growth with high CAGR, in the forecast period 2017 to 2023. Many other factors are likely to increase the demand for the isolation and shut off valve systems. These factors include the increasing demand for power and water, regulations that are being set regarding pollution control and rapid growth of industrialization. Nuclear power plants are being set up in different parts of the world. This trend is likely to drive the growth of the Isolation and Shutoff Valves Market. Petrochemical industries, water and wastewater applications, mining, municipal industries and chemical industries are some other sectors which are likely to fuel the demand for isolation and shut off valves in the market, in the forecast period. Strict government policies and regulations in the Isolation and Shut off Valves Market has led to a war of price between the vendors of this market. This factor is likely to restrain the growth of the Isolation and Shut off Valves Market. Other than this factor, the costs associated with the isolation and shut off valves is high. These costs include the fabrication cost as well as repairing cost. This factor can also restrain the growth of the Isolation and Shut off Valve Market.
Isolation and Shut off Valve Market: Market Segmentation
Global Isolation and Shut off Market can be segmented by application type, by product type, and by geography.
Based on the application type, Isolation and Shut off Valve Market is segmented into:-
- Water Treatment
- Oil & Gas
Based on the product type, Isolation and Shut off Valve Market is segmented into:-
- Medium-operation valves
- Gate and check valves
- Globe valves
Based on the geography, Isolation and Shut off Valve Market is segmented into:-
- North America
- Southeast Asia
Isolation and Shut off Valve Market: Regional Outlook
Availability of high-end technology in the North America region is a likely reason why the North America region is estimated to hold the highest share in the Isolation and Shut off Valve Market. Huge investments are being made in the gas and oil exploration sector in the MEA (Middle East and Africa) region. This factor may lead to the growth of Isolation and Shut off Valve Market in the MEA region. Regional market growth is expected to occur considerably in the MEA region, owing to the fact that the increased industrial development in this region has made this region a refined products supplier as well as a raw goods supplier. Heavy investments are being made in the pipeline infrastructure in the gas and oil segments, by the governments of certain countries like China, India and Brazil. This factor is expected to drive the growth of Isolation and Shut off Valve Market in these regions. The GCC has witnessed an increasing demand in the facilities related to the gas and oil production. Also, the APAC (Asia-Pacific) region is facing an increasing demand for energy. Owing to these factors, the APAC region and the GCC region are expected to show a very high growth rate in the Isolation and Shut off Valve Market.
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Isolation and Shut off Valve Market: Key Players
Some of the major players identified in the Isolation and Shut off Valve Market are:-
- IMI Critical Engineering
- Weir Group PLC
- ARI Armaturen GmbH
- Flowserve Corporation
- Curtiss-Wright Corporation
- Tyco International Ltd.
- Velan Inc.
- Crane Co.