Knife Gate Valves Market Size [2023-2030] | Industry Share, Growth, And Trends Forecast Report
Knife Gate Valves Market Major Manufacturers Covered in The Report Include Velan, Jash Engineering Ltd., T-T Pumps, ITT Inc., Weir Group, Orbinox, DeZURIK, Inc., Emerson (Pentair Valves & Controls), Bray International, Flowrox Oy, AVK Group, Zhejiang Linuo Flow Control Technology, Trueline Valve Corporation
Pune, India, March 09, 2023 (GLOBE NEWSWIRE) — The global knife gate valves market size is expected to experience a considerable growth owing to the increasing focus on wastewater treatment and the fast-paced industrialization that is driving the demand for knife gate valves across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Knife Gate Valves Market Size, Share & Industry Analysis, By Type (Pneumatic, Electric, Manual, Others), By Function (Bi-Directional, Uni-Directional), By Industry Vertical (Oil & Gas, Mining, Paper & Pulp, Chemical & Petrochemical, Power, Wastewater Treatment, Others (Pharmaceutical, etc.)) and Regional Forecast, 2020-2027.”
The novel coronavirus, COVID-19, has cast an unprecedented effect on several businesses across industries. While some industries are experiencing significant loss owing to the lockdown announced by the federal governments globally, collective efforts from the government, as well as the industries will ensure that the testing times may soon pass away.
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Knife gate valves are primarily designed for isolation services within the system that includes high content of suspended liquids or solids. They handle viscous, slurry, abrasive, and corrosive materials with greater efficiency and reduced costs across several industrial applications. Furthermore, they are manufactured to efficiently work in harsh work environment and include a sharpened disc to cut viscous or slurry materials with ease.
What does the Report Include?
The global market for knife gate valves report includes a detailed assessment of the various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, it provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
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DRIVING FACTORS
Increasing Focus on Efficient Wastewater Treatment to Bolster Growth
The increasing mining and manufacturing activities by large-scale industries are leading to the excessive formation of sewage waste that gets dumped in the ocean. This results in several environmental hazards and further affects the flora and fauna present in the ocean bed. The increasing focus on proper wastewater treatment initiatives owing to the rising oil & gas industry is driving the demand for efficient knife gate valves across the globe. Moreover, the rising water scarcity problems and the increasing focus on water conservation are expected to contribute to the growth of the global knife gate valves market during the forecast period.
REGIONAL INSIGHTS:
Asia-Pacific to Remain at the Forefront; Presence of Small & Medium Manufacturers to Favor Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global knife gate valves market during the forecast period. This is attributable to the presence of small & medium manufacturers that are developing innovative knife gate valves. Additionally, the increasing adoption of valves for several industrial applications such as oil & gas, chemical plants, refineries, and wastewater treatment plants is expected to contribute to the market growth in the region.
The market in North America is projected to showcase a substantial growth owing to the increasing production of shale gas and oil sands in the offshore parts of the region between 2019 and 2026.
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COMPETITIVE LANDSCAPE
Product Launches by Major Companies to Boost Sales Revenue
The companies operating in the global knife valves market are trying to maintain their positions by focusing on introducing novel products and further boosting their sales revenue. For instance, in May 2020, Flowrox unveiled its new design for large slurry knife gate valves. As per the company, the new design is expected to eliminate the need for cylinder tower, besides repositioning two actuator cylinders at either side of the valves. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration that are anticipated to drive the market growth during the forecast period.
List of the Companies Proliferating in the Global Market for Knife Gate Valves:
- Velan
- Jash Engineering Ltd.
- T-T Pumps
- ITT Inc.
- Weir Group
- Orbinox
- DeZURIK, Inc.
- Emerson (Pentair Valves & Controls)
- Bray International
- Flowrox Oy
- AVK Group
- Zhejiang Linuo Flow Control Technology
- Trueline Valve Corporation
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