LONDON–(BUSINESS WIRE)–Technavio has been monitoring the oil and gas storage valves market and it is poised to grow by USD 130.53 million during 2020-2024, progressing at a CAGR of almost 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the oil and gas storage valves market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
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Based on segmentation by Application, which is the leading segment in the market?
Aboveground storage.
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What are the major trends in the market?
Growing demand for natural gas.
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At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 2% during 2020-2024.
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Who are the top players in the market?
VK Holding AS, Baker Hughes Co., Curtiss-Wright Corp., Emerson Electric Co., Flowserve Corp., Honeywell International Inc., Schlumberger Ltd., TechnipFMC Plc, The Weir Group Plc, and Wärtsilä Corp. are the top players in the market.
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What are the key market drivers and challenges?
The market is driven by the increasing mandates for SPRs. However, corrosion in storage tank valves might hamper growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AVK Holding AS, Baker Hughes Co., Curtiss-Wright Corp., Emerson Electric Co., Flowserve Corp., Honeywell International Inc., Schlumberger Ltd., TechnipFMC Plc, The Weir Group Plc, and Wärtsilä Corp. are some of the major market participants. Although the increasing mandates for SPRs will offer immense growth opportunities, corrosion in storage tank valves is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this oil and gas storage valves market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Oil and Gas Storage Valves Market 2020-2024: Segmentation
Oil and Gas Storage Valves Market is segmented as below:
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Application
- Aboveground Storage
- Underground Storage
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Geography
- North America
- APAC
- MEA
- Europe
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43950
Oil and Gas Storage Valves Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The oil and gas storage valves market report covers the following areas:
- Oil and Gas Storage Valves Market Size
- Oil and Gas Storage Valves Market Trends
- Oil and Gas Storage Valves Market Industry Analysis
This study identifies the growing demand for natural gas as one of the prime reasons driving the Oil and Gas Storage Valves Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Oil and Gas Storage Valves Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist oil and gas storage valves market growth during the next five years
- Estimation of the oil and gas storage valves market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the oil and gas storage valves market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of oil and gas storage valves market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Aboveground storage – Market size and forecast 2019-2024
- Underground storage – Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AVK Holding AS
- Baker Hughes Co.
- Curtiss-Wright Corp.
- Emerson Electric Co.
- Flowserve Corp.
- Honeywell International Inc.
- Schlumberger Ltd.
- TechnipFMC Plc
- The Weir Group Plc
- Wärtsilä Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
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List of abbreviations
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