The global pressure-reducing (Boost) valve market was worth US$3570 mn in 2018 and the report suggests that the market will reach US$3970 mn by 2025, exhibiting a sluggish CAGR of 1.5%. Pressure-reducing/boost valve is a type of valve that can reduce or boost the pressure of any liquid such as water, oil, or gas. The demand for this valve is on the rise as it is used to regulate pressure in gas transmission, oil, water supply, and many other industry processes.
The team of QY Research analysts has published a detailed report of the market, titled “Global Pressure-reducing (Boost) Valve Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.”
Global Pressure-reducing (Boost) Valve Market: Drivers
The global pressure-reducing (boost) valve market is driven by a number of factors and industry needs. The primary driver of the market is the oil and gas industry. Maintaining the right flow is very important to reduce waste and ensure proper distribution. This factor is also applicable to the water supply process. This valve has its use in the processing industry as well, whether it is food or other chemical processing. The right pressure to supply or add various liquids is very important for achieving the result. These factors have boosted the global pressure-reducing (boost) valve market growth.
Global Pressure-reducing (Boost) Valve Market: Segment Analysis
The global pressure-reducing (boost) valve market is segmented on the basis of type and application. In terms of type, the market is segmented into the pressure-reducing valve and boost valve. In terms of application, the market is segmented as oil and gas, gas transmission, water (municipal), process industry, and others. Oil and gas industry is highly dependent on this pressure-reducing valve as maintaining the right pressure matters a lot in this industry. Thus, the aforementioned segment will lead the global market.
Global Pressure-reducing (Boost) Valve Market: Regional Analysis
On the basis of region, the global pressure-reducing (boost) valve market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America and Europe are the most prominent regions in the global market due to burgeoning oil and gas and processing industry.
Global Pressure-reducing (Boost) Valve Market: The Key Players
The key players studied in the global pressure-reducing (Boost) valve market are Pentair, GE Mooney, Curtiss-Wright, Elster, Emerson, Festo, Weir Group, Valvitalia, Parker, Wuzhong Instrument, Kosmek, Eaton, SMC, Watts, Goetze, Armstrong International, Bosch, Shanghai Jindie Valves, Shanghai Qiwei Valves, and Leser. These key players are more into expanding their business to maintain their global importance.
For example, Pentair, a globally acknowledged water treatment company has recently announced a collaboration with SunTech Drive to deliver solar pumping solutions in the most simplified manner. The first innovation that will result from this collaboration as SunTech Drive's state-of-the-art solar control platform will be driven by the company’s Pentek variable speed drive technology. Such collaboration opens new vistas for global expansion to stay strong amid tough competition.