Hybrid Valve Market (By Material: Steel, Duplex Nickel, Titanium, Alloy, Others; By Industry: Oil & Gas: Energy & Power, Chemical, Pharmaceutical, Water & Wastewater, Agriculture, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global hybrid valve market size is projected to reach around US$ 1.81 Bn by 2026 and expected to grow at a CAGR of around 7.2% over the forecast period 2019 to 2026.
A hybrid valve is specially planned using a disc stack for reducing pressure, voice, noise, and vibration that occur during high-pressure flow applications. In a hybrid valve, disc stack is usually designed with several holes on the sideline for easy transfer of gases and chemicals fluids use. This disc stack is used in valves to reduce the pressure flow in the hybrid. Hybrid valves are widely used in various process industries such as oil & gas, energy & power, water & wastewater, chemical, pharmaceutical and others for reducing pressure, voice, vibration, noise. The need to control excessive noise, voice, pressure, vibration in critical procedures and corrosion problems in the oil & gas, power & energy industry is among the key energetic factors for the hybrid valve market. Other factors that driving factors the growth of this market include the use of 3D printers in industrialized lines and also a major increase in the number of refineries and chemical plants worldwide to boost the market growth. Though, factors such as the high manufacturing cost can obstruct the growth of the hybrid valve market in the coming years.
Market Dynamics
The increase in chemicals used by the consumers coupled with the growing prevalence of hybrid valve market across the globe is primarily driving the market growth. Rising demand for oil & gas, energy & power, chemicals or others in North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa regions are further strengthened the market growth. Increasing in the disposable income in developing countries and advancements in the technology in developed countries for further accelerating the growth in the market value. High risk of getting infected associated with the new methods of chemicals the percentage of getting body infected which is highly expected to hinder the market growth. In the increasing investment on forefront technologies and the untapped market of developing economies is anticipated to create potential opportunities over the forecast period of the hybrid valve market.
Based on material, steel dominated the lighting control system market
Based on material, the market has been segmented into steel, duplex nickel, titanium, alloy, and others. The steel segment is expected to dominating the region during the forecast period owing to the huge demand for the material from applications involving high temperature and steam which is needed water & wastewater treatment industry during the forecast period. The steel accounts of the largest share in the market and are expected to grow at the highest CAGR during the forecast period.
Based on the industry, chemicals segment is expected to dominate during the forecast period
Based on industry, the market has been segmented into oil & gas, energy & power, chemicals, pharmaceuticals, water & wastewater, agriculture, and others. The chemicals segment accounts of the largest share in the market and held for more revenue than other of the total market in 2018. The major factors that are needed to control excessive noise, pressure, and vibration driving the growth of this segment are the rising demand of the hybrid valve market. The hybrid valve market for the chemical industry is expected to witness significant growth during the forecast period. Hybrid valves are used increasingly for controlling distinguishing & composite noises and acoustical experiments generated in chemicals plants, due to a large number of potential sources and the size of facilities provided to raise the market demand.
Mixers, centrifuge machines, valves, high-pressure pumps, and pipelines generate noise that hypothetically harmful to the health of employees and also for the local community residing members. In addition, the expansion of air, noise, and water pollution implemented in refineries are the major driving factors encouraging the demand for hybrid valves in the chemicals industry. This expected to enhance the dominance of the equipment segment in the global market over the forecast period.
The market research study on “Global Hybrid Valve Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global hybrid valve market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global hybrid valve market, its material, industry, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global hybrid valve market size and volume, and segment markets by material, industry, and geography along with the information on companies operating in the market. The hybrid valve market analysis is provided for major regional markets including North America, Europe, Asia-Pacific and Latin America, Middle East & Africa. For each region, the market size and volume for different segments have been covered under the scope of the market.
In 2018, Asia Pacific dominated the regional market with a maximum market share
The Asia Pacific accounted for the high market share of the hybrid valve market and the region is also expected to maintain its dominance over the forecast period. The region is experiencing the maximum growth owing to the presence of population growth and an increase in urbanization, favorable compensation policies in the rapidly growing population. The Asia Pacific is followed by the India & China region in the business market. The rapid consumption of energy & power, water & wastewater, oil & gas and many more are the major driving factor in the global market. Moreover, the increasing demand for the urbanization Industry and increasing awareness about their speedy development among the consumers are expected to enhance the market growth in the global hybrid valve market in nearly future. The manufacturers are investing in developing countries to meet the demand for hybrid valve.
Few of the players profiled in the report operating in the market are Emerson Electric Co., ChemtrolsEmet Pvt. Ltd., Trillium Flow Technologies, Wuxi Smart Auto-Control Engineering Co. LTD., Circor International Inc, Parcol S.P.A., IMI Plc., Koso Kent Introl Pvt. Ltd., Dymet Alloys, and Carter Process Control GmbH. These players are implementing various strategies such as new Industry introduction, attainments and collaborations, in order to apprehension high revenue share in hybrid valve business. The companies are involved in mergers and acquisitions and new Industry development for expanding their market share and also for gaining competitive advantages over its competitors.
Market Segmentation
Market By Material
- Steel
- Duplex Nickel
- Titanium
- Alloy
- Others
Market By Industry
- Oil & Gas
- Energy & Power
- Chemical
- Pharmaceutical
- Water & Wastewater
- Agriculture
- Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
What is hybrid valve?
A hybrid valve is specially planned using a disc stack for reducing pressure, voice, noise, and vibration that occur during high-pressure flow applications.
Where does disc stack use?
The disc stack is used in valves to reduce the pressure flow in the hybrid
Which industries are using hybrid valve?
Hybrid valves are used in various process industries such as oil & gas, energy & power, water & wastewater, chemical, pharmaceutical and others for reducing pressure, voice, vibration, noise.
Which factor curbs the growth of hybrid valve market?
The increase in chemicals used by the consumers coupled with the growing prevalence of hybrid valve market across the globe is primarily driving the market growth.
What will be the market value of hybrid valve in the forecast period 2019 to 2026?
According to Acumen Research and Consulting, the hybrid valve market value is anticipated to be worth around US$ 1.81 billion in 2026.
What will be the growth rate of hybrid valve market during the forecast period 2019 to 2026?
The hybrid valve market is anticipated to grow over 7.2% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share of the hybrid valve market?
Asia Pacific held maximum share in 2018 for hybrid valve market.
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