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Adoption of knife gate valves is majorly been observed across the mining, chemicals plants, power plants, wastewater treatment plants, etc. These valves perform as a component that uses a blade to cut the heavy liquid and gases clogs. Initially, knife gate valves was being introduced across the pulp and paper industry inorder to cut the stringy pulp across the manufacturing sites. Furthermore, owing to its ease of operation and low price, use of knife gate valves expanded across various industries such as oil and gas, wastewater treatment, mining, power in a short duration of time. Eventually, adoption of knife gate across all the manufacturing plants has increased substantially. These are usually available in large sizes to efficiently handle the heavy and thick flows of slurry, grease, oils, paper pulp, varnish and wastewater.
Moreover, with the substantial growth of the wasterwater treatment industry, the demand of knife gate valves anticipated to grow at a highest CAGR across the industry. Also the demand is been expected to flourish across the mining and oil and gas sector, owing to the need of the valves for the regulating the pressure, controlling the flow and directional control.
Key Market Driver -
• Industrialization across the globe is boosting the demand of the knife gate valves • Robust growth across the wastewater treatment industry will spur the growth of the market
Key Market Restraint -
• Knife Gate Valves can require frequent replacement and also requires high maintenance
Apparently, the impact of COVID-19 is creating woes and is expected to sustain for a considerable period in the future. The immediate lockdown resulted on major manufacturing hubs grinding to a halt resulting in critical hampering of production across the globe. It is anticipated that the market for industrial components will observe a downfall in the coming years. This is owing to the immediate shutdown of factories, disruption in transportation, destabilization of economy and related ecosystem, etc. As a result, a collapse in the production of knife gate valves can be observed for the year 2020 and is expected to grow steadily over the forecast period 2020-2027.
Some of the key competitors in the knife gate valves market include Velan, Jash Engineering Ltd., T-T Pumps, ITT Inc., Weir Group, Orbinox, DeZURIK, Inc., Emerson (Pentair Valves & Controls), Bray International, Flowrox Oy, AVK Group, Zhejiang Linuo Flow Control Technology, Trueline Valve Corporation etc. In order to gain a competitive edge, market players are investing in research & development activities to enhance their product portfolio. ,
Asia Pacific is anticipated to provide a huge platform for the knife gate valves the market of knife gate valves, owing to the growth of the industrialization across its major countries such as China, India, Japan and South Korea. China holds a lion share among them, mainly due to the wide presence of the small and medium manufacturers. In addition to this, increase in the usage of valves is being experienced across the oil & gas, water treatment industry, increase in refineries and chemical plants.
Followed by Asia Pacific, Middle East and Africa is also expected to have a significant growth owing to the growth in the oil and gas and mining industry.
North America and Europe are projected to have substantial share for the market, owing to the increasing production of oil sands and shale gas. The product awareness is expected to grow in North America and Europe as a result of retrofitting and renovation of old technology. In addition to this, rising investments in oil refining and increasing of petrochemical & general industry fields expenditures is influencing the demand of the valves across these regions.
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