Pinch Valve Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; End-user, and Geography
The global Pinch Valve accounted for US$ 578. 6 Mn in 2019 and are expected to grow at a CAGR of 4. 15% over the forecast period 2020-2027, to account for US$ 737. 5 Mn by 2027. The demand for natural gas and crude oil is witnessing a constant growth across the globe.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pinch Valve Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; End-user, and Geography" - https://www.reportlinker.com/p06010086/?utm_source=GNW
For instance, in 2018, the oil demand globally increased by 1.3%, attributed to robust growth of the oil industry in the US. As per the International Energy Agency forecasts, the oil demand in Q3 2019 rose by 1.1 million barrels (mb)/day, signifying more than double growth compared to the previous quarter. The US and China are the most significant countries witnessing a considerable growth. The robust increase in petrochemical demand in the US resulted in enhanced consumption. Surging industrial production along with high demand for trucking services is boosting the need for petrochemicals, thereby fueling the growth of the pinch valve market.
Additionally, the growth in air traffic volumes worldwide, particularly in Asia’s developing economies, is another significant factor resulting in increased oil consumption.The Organization of the Petroleum Exporting Countries (OPEC) launched ‘The 2020 OPEC World Oil Outlook’ in October 2020.
According to it, the COVID-19 pandemic has led to a downturn in oil demand; however, it is expected that the global energy demand would witness constant growth in the mid-term and long-term period, rising by a noteworthy 25% to 2045.The outlook further anticipates oil to be the largest contributor in the energy mix market, contributing 27% share in 2045.
The demand for oil is projected to grow at ~47 mb/day during 2022–2025 in Organization for Economic Co-Operation and Development (OECD) countries. On the other hand, the demand in non-OECD countries is projected to increase by 22.5 mb/day during the forecast period to 2045. India is anticipated to be the dominant contributor, adding ~6.3 mb/day between 2019 and 2045.
Furthermore, the report stated that natural gas is expected to be the fastest growing fossil fuel and would be the second largest contributor to the energy mix, accounting for 25% in 2045.Asia-Pacific is anticipated to witness high demand for natural gas owing to rise in use of natural gas in diverse industrial sectors.
According to the BP Statistical Review of World Energy 2020, growth in consumption of natural gas worldwide averaged 2% in 2019, while in APAC, the natural gas consumption showed 4.7% Y-o-Y growth in 2019. Also, the interregional trade of gas increased at 4.9%, representing over double growth in the 10-year average. The growth is propelled by a surge in demand for liquefied natural gas. Therefore, the enhancement in oil & gas, petrochemical, and natural gas industries is creating huge opportunity for the pinch valve manufacturers to develop more innovative products and meet the requirement of the end users.
The European processed food & beverages market is primarily driven by the growing demands for convenience food products.Growing population and rising disposable income, coupled with busy lifestyles, led to the growth of convenience food in Europe.
This further boosts the demand for flavored syrup; thus, the need for the pinch valve in the manufacturing industry is also increasing.Also, flavored syrup manufacturers’ efforts in the development of flavored syrup products with healthy and natural ingredients are attracting health-conscious consumers, which is further expected to boost the pinch valve market.
Transforming lifestyle trends concerning the food & beverages industry have significantly influenced the pinch valve market in Europe.
The European region is known for better standards of living, with people exhibiting higher income levels.Oil & gas, construction, and chemicals are the major industries in Europe.
The construction industry is expanding vigorously due to demographic trends, low mortgage rates, and individuals’ increased income.New construction projects as well as renovation, and maintenance activities for the existing structures have also increased sewage and wastewater management in the infrastructure.
The UK and Germany are experiencing high growth in their construction sector in Europe, thereby boosting the demand for a pinch valve in the region.Italy and Spain’s governments are taking initiatives to support the construction industry through investments, subsidies, and grants for the renovation and construction of public and private infrastructural projects.
In the construction industry, the sewage and wastewater management system and pipelines demand pinch valves. It is also used for sewage pipes, intake and drain lines, and water meters and outside pipes/taps, water pipes in unheated areas, and sprinkler systems. The Italian government provides tax rebates and low mortgage interest rates to fuel the country’s construction industry’s wastewater recovery. Thus, this demand for pinch valve would surge the growth of the construction industry in the region, thereby indirectly impacting the pinch valve market positively.
The well–established market players operating in the Pinch Valve market include AKO Armaturen & Separationstechnik GmbH, Cla-Val, Emerson Electric Co, Flowrox Oy, Red Valve Company, Inc, RF Valves, Inc, Schubert & Salzer Control Systems GmbH, WAMGROUP S.p.A., Onyx Valve Company, and Festo.
The overall global Pinch Valve market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global Pinch Valve.
It also provides an overview and forecast for the Pinch Valve based on all the segmentation provided for the global region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, Pinch Valve intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Pinch Valve industry.
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