Expanding renewable energy sector, robust mining industry and booming LNG gas production to drive Australia industrial valves market through 2023
According to TechSci Research report, “Australia Industrial Valves Market By Product Type, By End User, Competition Forecast & Opportunities, 2013 – 2023”, industrial valves market in Australia is projected to grow at a CAGR of 14.5% during 2018-2023. Key factors expected to drive this growth include shift in focus from non-renewable to renewable resources such as hydro, wind and biomass for power generation, expanding water and wastewater management industry, and growing mining activities in the country. Moreover, Australia is anticipated to boost Liquid Natural Gas (LNG) production in the coming years in order to compete for the number one spot with Qatar. Rising activity in LNG production is also expected to positively influence industrial valve sales in the country over the course of next five years. Some of the major companies operating in the country’s industrial valves market include Pentair Flow Control International Pty Limited, AVK Australia Pty Ltd, Australian Valve and Engineering Pty Ltd, and Australian Pipeline Valve, among others.
Browse 14 market data Tables and 26 Figures spread through 91 Pages and an in-depth TOC on “Australia Industrial Valves Market” https://www.techsciresearch.com/report/australia-industrial-valves-market/1701.html
On the basis of type, gate valves account for the largest share in Australia industrial valves market, owing to their extensive usage in mining, water management and food & beverages industry. In the coming years, industrial valves market in Queensland is anticipated to grow at the fastest pace, on the back of high population, which is resulting in higher demand for water and wastewater management, thereby propelling industrial valves market. Moreover, renewable power plants are being set up in the region, which boasts huge natural resources. Water & wastewater effluents segment is likely to be the fastest growing end use vertical in Australia industrial valves market, backed by increasing number of government initiatives towards wastewater treatment.
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“Increasing number of commercial construction projects, technological advancements towards high-performance and smart valves, and growing adoption of industrial valves in multiple end use verticals for flow regulation and control in piping systems are generating huge growth opportunities for stakeholders in industrial valves market. In addition to these factors, growing investments in power generation would positively influence Australia industrial valves market during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Australia Industrial Valves Market By Product Type, By End User, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of Australia industrial valves market and has also provided the statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the market.
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