As per the research conducted by Fast.MR, the report titled “Knife Gate Valve Market - By Product Type (Pneumatic, Electric, Handwheel, Others), By Application (Pulp & Paper, Mining, Food & Beverage, Power Plants, Chemical Industries, Wastewater Treatment, Steel Industry, Oil, Gas & Refining, Others) & Global Region - Market Size, Market Volume, Trends, Opportunity, Forecast 2018-2024” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Knife Gate Valve Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.

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The consumption of knife gate valve is expected to reach 549.8 thousand units by the end of 2024 from 464.5 thousand units in 2017. Further, the knife gate valve market is predicted to thrive at a CAGR of 3.0% over the forecast period i.e. 2019 to 2024. The drivers of growth will vary by region. Growth in developing areas such as China and India will result from rapid industrialization, investment in water infrastructure and rising electricity generation. In developed areas, continued growth in oil & gas industries will provide growth in the market.

Market Insights

Growth Drivers – Knife Gate Valve Market

Rapid Industrialization is Augmenting the Demand for Industrial Valves

Knife gate valves find foremost application in oil & gas, mining, pulp & paper and chemical industries. As the industrialization is rising across all regions, especially in emerging economies such as India, Brazil, China and others, the demand for knife gate valve is expected to rise in upcoming years. Mining industry is one of the major end-user of Knife gate valve, and since the mining industry across the globe is flourishing owing to number of reasons, the knife gate valve market is likely to follow the same path as mining industry in future.

Rapid growth in industries such as water & wastewater treatment, oil & gas, chemical and petrochemical, where liquid handling is essential, the demand for valves is intensely high and this is a major driving factor behind rising consumption of knife gate valves across the globe. Ongoing government & municipal projects for water & wastewater treatment, rising expenditure on oil & gas exploration activities by countries such as U.S. & China are two of the many factors, which are projected to bolster the consumption rate of knife gate valve in upcoming years.

Growing Demand for Energy in Emerging Countries

The economic, industrial and urbanization growth have a direct impact on energy demand in leading industrialized and emerging economies including China, Argentina, United States of America, Saudi Arabia, China and others. Due to rise in demand for energy, industries such as oil & gas, powerplant, coal industry, renewable energy industry and others are growing significantly worldwide. Governments are spending tons of capital to increase the energy production in order to fulfil the energy demand of nations.

Industrial valves such as Knife gate valve’s consumption is estimated to grow significantly higher than its levels in previous years owing to rise in investment in energy sector across the globe. Countries such as China and U.S. are striving hard to boost oil & gas production in the country. At the same time, it is also expected that, consumption of knife gate valves in renewable energy industries such as hydro powerplants, and others will grow as the demand for renewable energy resources is rising worldwide.

Segmentation

By Product Type:

- Pneumatic Knife Gate Valve

- Electric Knife Gate Valve

- Handwheel Knife Gate Valve

- Other Knife Gate Valve

By Application

- Pulp & Paper

- Mining

- Food & Beverage

- Power Plants

- Chemical Industries

- Wastewater Treatment

- Steel Industry

- Oil, Gas & Refining

- Others

By Geography:

- North America (U.S. & Canada)

- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)

- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)

- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Competitive Landscape

The report profiles various major market players such as

- Weir

- ITT Inc.

- Emerson Electric Company

- Velan Inc.

- Jash Engineering Ltd

- Mueller Water Products Inc.

- Process Systems

- T-T Pumps

- Econosto

- RED VALVE COMPANY, INC.

- FKB

- KSB SE & Co KgaA

- Other Major & Niche Players

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