Report : Middle East and Africa Gate Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Valve Type (Flexible wedge, Solid wedge, and Split wedge or Parallel disks Valve), Valve Size (2" to 12", 14" to 36", and 42" and Above), and Application (Oil and Gas, Water and Wastewater Treatment, Chemical, and Others)
At 4.7% CAGR, the MEA Gate Valve Market is speculated to be worth US$ 1,727.46 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA gate valve market was valued at US$ 1,190.33 million in 2021 and is expected to reach US$ 1,727.46 million by 2028, registering an annual growth rate of 4.7% from 2021 to 2028. Popularity of automation and increasing number of power generation and wastewater treatment facilities are the critical factors attributed to the market expansion.
Robots and other modern technologies are employed in the oil & gas sector, and the pulp and paper industry to automate complex operations. New technologies have made operations in various enterprises far more efficient and adaptable. Automation supports interoperability, information transparency, and manufacturing operations’ integrity protection. Valves have been an essential component of process automation systems in industries, as they are one of the key determinants of the performance of industrial sites. Complex piping systems, variable-temperature pipes, and process pressure management are the critical performance areas regulated by valves in automated facilities. The use of gate valves has increased as industrial activities have become more efficient. Moreover, the use of valves has surged dramatically across many verticals owing to the reduced complexity of valve installation and maintenance. Major players in the gate valves market concentrate on providing dependable valves—such as the flexible wedge, solid wedge, split wedge, or parallel disk valves—which are suitable for a range of applications. Furthermore, different end-use sectors have replaced long-standing pressure valves with newly developed safety valves capable of alleviating, lowering, sequencing, or discharging fluid pressure. Thus, the growing trend of factory automation is likely to benefit the gate valves market in the coming years.
On the contrary, concerns regarding raw materials used in gate valve manufacturing hurdles the growth of MEA gate valve market.
Based on valve type, the MEA gate valve market is segmented into flexible wedge, solid wedge, and split wedge or parallel disks valve. The solid wedge segment held 44.0% market share in 2021, amassing US$ 524.27 million. It is projected to garner US$ 730.94 million by 2028 to expand at 4.2% CAGR during 2021–2028.
Based on valve size, the MEA gate valve market is segmented into 2" to 12", 14" to 36", and 42" and above. The 14" to 36"segment held 51.9% market share in 2021, amassing US$ 617.29 million. It is projected to garner US$ 892.29 million by 2028 to expand at 4.7% CAGR during 2021–2028.
Based on application, the MEA gate valve market is segmented into oil and gas, water and wastewater treatment, chemical, and others. The oil and gas segment held 49.4% market share in 2021, amassing US$ 587.89 million. It is projected to garner US$ 849.18 million by 2028 to expand at 4.7% CAGR during 2021–2028.
Based on country, the MEA gate valve market has been categorized into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that rest of MEA captured 49.4% market share in 2021. It was assessed at US$ 588.13 million in 2021 and is likely to hit US$ 887.91 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.
Key players dominating the MEA gate valve market are Bray International; DEZURIK, INC; Emerson Electric Co.; ITT Inc.; Mueller Co. LLC; Orbinox; Sistag AG; STAFSJö VALVES AB; and The Weir Group PLC among others.
- In 2021, ITT Inc. announced it has acquired privately-held Habonim for $140 million in an all-cash transaction.
- In 2021, ORBINOX has introduced a novel bi-directional high-pressure knife gate valve for industrial and water treatment applications. Its design focuses on providing the ideal option for water treatment applications as well as general industrial operations that require high pressure performance and durability.
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