Metal Valve Manufacturing Market Characteristics
The metal valve manufacturing market consists of the sales of industrial valves, fluid power valves and hose fittings, plumbing fixture fittings and trim, and/or other metal valves and pipe fittings, by entities (organizations, sole traders or partnerships) that produce one or more of these types of metal valves.
Competitive Landscape of the Metal Valve Manufacturing Market
Major players in the global metal valve manufacturing market include Crane, Mueller Water Products, The AVK Group (Denmark), Emerson Electric Co, Parker Hannifin.
Metal Valve Manufacturing Market Size
The metal valve manufacturing market size is expected to reach a higher value 2022, significantly growing at a steady CAGR during the forecast period. The growth in the metal valve manufacturing market is due to slowdown in the global economy, increased spending on construction and increased sales of valves.
However, the market for metal valve manufacturing is expected to face certain restraints from several factors such as reduction in free trade, oversupply in the Chinese steel sector and complex supply chain.
Metal Valve Manufacturing Market Segmentation
The global metal valve manufacturing market is further segmented based on type and geography.
By Type - The metal valve manufacturing market is segmented into industrial valve manufacturing, fluid power valve and hose fitting manufacturing, plumbing fixture fitting and trim manufacturing, other metal valve and pipe fitting manufacturing.
By Geography - The global metal valve manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific metal valve manufacturing market accounts the largest share in the global metal valve manufacturing market.
Trends in the Metal Valve Manufacturing Market
Companies in this market have moved towards metal additive manufacturing due to increased consumer demand for lightweight, faster, and fuel-efficient automobiles that in turn drive the market for metal valves, is the major trends witnessed in the global metal valve manufacturing market.
Potential Opportunities in the Metal Valve Manufacturing Market
With increasing number of vehicles, adoption of advanced technologies and investments in end user industries, the scope and potential for the global metal valve manufacturing market is expected to significantly rise in the forecast period.