Analysis of the North American Industrial Valves Market, Forecast to 2026


A Bleak Investment Outlook and Prolonged Trade Tensions in the United States Accounted for the Subdued Market Activity

Prolonged geopolitical tensions and a bleak investment climate in North America have negatively impacted the growth of the North American industrial valves market. The market is mature, and it comprises saturated end-user industries, such as oil and gas (O&G) and power generation. After a brief reprieve in 2018 due to the recuperation of the O&G industry, the start of the US-China trade war triggered market uncertainty in North America, further dampening the demand. However, the gradual integration of Industrial Internet of Things (IIoT) across asset-intensive industries and the need for component-level smart solutions in fluid systems are expected to augur well for valve systems. During the forecast period (2010-2026), the demand for smart solutions from both process and non-process industries is slated to sustain demand for industrial valves. Additionally, end users such as O&G and power generation have aging assets that should be refurbished to comply with stringent safety standards. Therefore, replacement sales in these industries will boost market demand in the long term. However, in the short term, the market will be subject to sharp revenue declines amidst the COVID-19 pandemic. The outbreak has impacted all the end users, especially the O&G industry, as is apparent from the unprecedented decline in its demand. As the financial crisis intensifies due to the pandemic, new investment opportunities will be relatively low in 2020.

Click image to view it in full size

{62504986-ca5a-4843-a48d-278f333e9661}_K3DA_Medium_IG

Get Access to Complimentary Intelligence