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GCC And MENA Valves MarketÐ Growth, Trends, And Forecast (2019 Ð 2024)

Published on: Sep 2019 | From USD $3750 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 130

Market Overview

The GCC and MENA valves market is expected to expand at a CAGR of 5.12%, during the forecast period of 2019 2024. One of the major factors driving the growth of the market studied is the expanding power generation sector in the GCC countries.

- Geopolitical tensions and volatility in oil prices are expected to hinder market growth.
- The gate valves accounted for the largest share in the market studied, in 2018.

Key Market Trends

Increasing Demand from Industrial Application

- Valves are extensively used for industrial applications, for controlling the flow of any fluid through a system. In industries, valves are used to start, throttle, or stop the fluid flow to ensure safe and efficient operation.
- They are used in various parts of daily mechanical devices, including its application in heating, ventilation, and air conditioning (HVAC) and water systems in offices and gasoline mechanism for vehicles.
- The usage of valves ranges from application in pipelines, the oil and gas industry, marine industry, to power, food and beverages, and pharmaceutical industries.
- Pipelines stand to be one of the most integral arrangements in various industries, such as oil and gas, refineries, and power generation, to transport media from its source to the place where it is to be used or transformed into final products. There are thousands of miles of crucial pipelines running across the world for transportation of oil and gas, LNG, etc. Such pipelines run in both onshore, as well as offshore locations.
- In such industries, valves are used in the upstream, midstream, and downstream sectors for application in piping, where they help to optimize the operating conditions of pipelines. The countries, such as Kuwait, Saudi Arabia, Algeria, and Oman, have been witnessing greenfield investments and expansions in pipeline projects. With this, the demand for valves is also expected to increase in the coming years.
- In the marine industry, valves play a crucial role, where they are used more frequently to generate power, manage and treat wastewater, and control HVAC, as well as perform their required tasks. The size and application of the ship determine the different types and number of valves to be used onboard.
- Hence, all such industrial application of valves and anticipated growth of such industries in the MENA and GCC countries are expected to drive the demand for valves for industrial applications at a steady pace, in the coming years.

Saudi Arabia to Dominate the Market

- Saudi Arabia is a major oil producer in the world. In 2018, the kingdom witnessed a 3.3% increase in oil production, recording 12.29 million barrels of oil production per day. Whereas, the domestic consumption of the kingdom was about 3.72 million barrels per day.
- Besides, the refining throughput capacity continuously increased over the past years and reached to 2,802 thousand barrels per day in 2017. However, in 2018, throughput capacity declined by 1.1% and was recorded to be about 2,770 thousand barrels per day. On the other hand, the countrys refining capacity increased by 0.3% during 2018, reaching 2,835 thousand barrels per day.
- There is numerous oil and gas, refinery, and pipeline projects in the kingdom, which are either in planning, exploration, or construction phase. Such projects are likely to drive the demand for valves market in the coming years.
- Further, the government plans to diversify the economy through investments in non-oil industries, such as chemical, construction, healthcare, and automotive sectors. This is expected to lead to an increase in water treatment plants, as the pollution and water waste is expected to increase.
- The waste from the oil and gas industry is also expected to increase again, with commencement of operations of projects under construction. Besides, water shortage is further increasing the water treatment activities in the kingdom.
- Hence, such market trends and initiation of planned projects in industries, such as oil and gas, water treatment, refinery, mining, and petrochemicals, are expected to offer huge opportunities of growth for the valves market in the kingdom over the coming years.

Competitive Landscape

The GCC and MENA valves market is partly consolidated in nature. The major companies include Baker Hughes, a GE Company, Crane Co., Emerson Electric Co., Schlumberger Ltd , Alfa Laval etc.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Expanding Power Generation Sector in GCC Countries
4.1.2 Surge in Oil Refining in the MEA Region
4.2 Restraints
4.2.1 Hazardous to health
4.2.2 Substitution of Alternative Chemicals
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Industrial
5.1.2 Municipal
5.2 By Type
5.2.1 Butterfly Valve
5.2.2 Ball Valve
5.2.3 Globe Valve
5.2.4 Gate Valve
5.2.5 Plug Valve
5.2.6 Other Types
5.3 Geography
5.3.1 Saudi Arabia
5.3.2 United Arab Emirates
5.3.3 Qatar
5.3.4 Algeria
5.3.5 Egypt
5.3.6 Iran
5.3.7 Iraq
5.3.8 Rest of Middle East & North Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ABO Valve
6.4.2 Alfa Laval AB
6.4.3 AVK Gulf And Watecom International Water Network LLC
6.4.4 Baker Hughes, a GE Company
6.4.5 Circor International Inc.
6.4.6 Crane Co.
6.4.7 Danfoss AS
6.4.8 Emerson Electric Co.
6.4.9 Emirates Valves
6.4.10 FlowCon IVC
6.4.11 Flowserve Corporation
6.4.12 Georg Fischer Ltd
6.4.13 Honeywell International Inc.
6.4.14 IMI Critical Engineering
6.4.15 IVM Saudi
6.4.16 Saint-Gobain
6.4.17 Schlumberger Limited
6.4.18 TechnipFMC PLC
6.4.19 The Weir Group PLC

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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