The metal valve market majorly consists of the sales of industrial valves, fluid power valves and hose fittings, plumbing fixture fittings and trim, and/or other metal valves and pipe fittings which is being done by major entities such as organizations, sole traders or partnerships which are largely producing one or more of these types of metal valves.
As per the Analysis of the Report, ‘Metal Valve Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Crane, Mueller Water Products, The AVK Group, Emerson Electric Co, Parker Hannifin are some of the major companies which are currently operating in the market. These companies majorly competes in the market on the basis of products and services offered, strategies adopted by them in the market and financial performance of the companies. In addition to this, report also covers various other segments which includes overview of the market, ecosystem, value and supply chain, major growth drivers and restraints of the market, sizing of the market along with the market segmentations by Type (Industrial Valve, Fluid Power Valve And Hose Fitting, Plumbing Fixture Fitting And Trim, and Other Metal Valve And Pipe Fitting) by End User Industry (Chemicals, Marine, Construction, Mining, Oil & Gas, and Others) by Product (Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, and Other Valves) and by regions.
The Metal Valve global report also covers the analysis of the market at the country level as well and for that some of the major countries which has been comprehensively covered in the report includes China, India, Indonesia, Austria, Belgium, Denmark, France, Sweden, Switzerland, Poland, Spain, Russia, Romania, USA, Canada, Mexico, Argentina, Brazil, Saudi Arabia, UAE and many more.
As per the report, it says that Asia Pacific has accounted the highest market share in the global metal valve market, followed by Western Europe as it accounted the second share in the market. However, South America accounted the least share in the overall global metal valve market.
Now a days, companies in metal vale market have shifted towards metal additive manufacturing due to increased consumer demand for lightweight, faster, and fuel-efficient automobiles which have been currently driving the market for metal valves. Moreover, it has been observed that there has been a growing demand in the countries namely Germany, Japan, China and India. Furthermore, the increased investments towards metal additive manufacturing technology has led to process improvements and fall in production costs.
Currently, it has been observed that the global metal valve market has declined at a double digit compound annual growth rate (CAGR). The entire decline has been majorly due to the economic slowdown prevailing across the world largely due to the outbreak of COVID-19 which has impacted the market negatively. On the other hand, in the near future it is anticipated that market will show the signs of recovery and start growing at a single digit CAGR post the Covid-19 times.
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Ankur Gupta, Head Marketing & Communications