As per the lastest market report, the subsea valves market is expected to grow at a reasonable CAGR during the forecast period under consideration. As per the report, the ever increasing demand for energy is one of the major factors driving the subsea valves market. Coal, oil and gas being the major providers of primary energy all over the world, the production and exploration process of these sources of energy requires subsea valves, thus driving their market. In addition to the existing oil and gas exploration projects, there is expected to be an increase in the subsea projects in the comings years, thus further propelling the subsea valves market growth.
Subsea valves are used to isolate or control the flow of materials, commonly to transport oil and gas, through an undersea pipeline or some other equipment. Subsea valves are designed to be durable and to function in a sub-marine environment so that they could withstand the effects of high external pressure, salt-water corrosion, bubbles or debris in the material that is being transported. The reduction in onshore reserves and an increase in the global demand for energy have pushed the countries investing in oil and gas exploration to heavily invest in offshore reserves, thus boosting the market for subsea valves.
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Unstable crude oil may hinder the steady growth of the subsea valves market. Nevertheless, market players are expected to be offered newer opportunities in the subsea valves market in the near future, owing to technological advancements. Competitive strategies like mergers and acquisitions by key market players are further expected to create a growth in demand for subsea valves during the forecast period.
The following manufacturers are covered:
Advanced Technology Valve
On the basis of type,thesubsea valves market is segmented as subsea gate valves, subsea needle valves, subsea ball valves, subsea check valves.
On the basis of application, the subsea valves market is segmented as oil industry, gas industry and others.
The ball valves segment of subsea valves has been in the forefront, accounting for a large part of the market share. The varied applications of ball valves like transportation and storage, gas processing, subsea hydraulic manifold and other marine applications, as well as their ability to impart bubble tight sealing and reliable protection against leakage are the factors driving the market growth subsea valves used in oil and gas transportation.
On the basis of region, the subsea valves market has been segmented as North America, Europe, China, Japan, Southeast Asia, India, Latin America, the Middle East and Africa.
As per the regional segment report, high temperature and high-pressure valves are primarily employed along the Gulf of Mexico and the North Sea due to the extreme climatic conditions in these regions. Subsea valves are also being deployed in numerous projects in the Asia Pacific region. In the coming years, Brazil and West Africa are regions where several production and exploration projects are expected to commence, thus driving the subsea valves market.
In May 2018, Neway Valve signed a subsea valves supply deal Offshore Oil Engineering for a gas field cluster initiative. The said project contains subsea gate valves and subsea ball valves. Ventures like these are expected to positively drive the market demand for subsea valves.
Table of Contents
1 Industry Overview of subsea valves
2 Manufacturing Cost Structure Analysis
3 Development and Manufacturing Plants Analysis of subsea valves
4 Key Figures of Major Manufacturers
5 subsea valves Regional Market Analysis
6 subsea valves Segment Market Analysis (by Type)
7 subsea valves Segment Market Analysis (by Application)
8 subsea valves Major Manufacturers Analysis
9 Development Trend of Analysis of subsea valves Market
10.1 Marketing Channel
11 Market Dynamics
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This post was originally published on Food and Beverage Herald