Global Valves and Manifolds Market 2016-2020

Market outlook of the global valves and manifolds market

Technavio research analyst predicts the global valves and manifolds market to grow steadily at a CAGR of 7% during the forecast period. The increased application of valves and manifolds in the oil and gas, process, and power industries is expected to fuel the market growth. The power sector is one of the prominent end-users of the market. The increase in setting up of new nuclear power plants has also fuelled the demand for valves and manifolds. For instance, China is very ambitious in adding nuclear capacities to its power mix and has added seven nuclear reactors during 2015. There are 21 nuclear reactors under construction, and many are in the planning stages.

With growing environmental concerns worldwide, many countries are encouraging the usage of renewable energy sources. It was observed that the global hydropower capacity increased from 1,018 gigawatts during 2013 to 1,055 gigawatts during 2014, and the global geothermal power capacity increased from 12.1 gigawatts in 2013 to 12.8 gigawatts in 2014. China accounts for 280 GW of total installed capacity of hydropower capacity and has 57 GW of hydropower capacity under construction.  The increasing capacities of renewable energy sources such as the geothermal and hydropower will drive the global valves and manifold market over the next four years.

Product segmentation and analysis of the valves and manifolds market

• Ball valves
• Needle valves
• Check and relief valves
• Manifolds