Use of Industrial Valves in Oil and Gas Industry Driving the Global Demand
London, Apr 17, 2018: The rise in investments in the application industries such as oil and gas are expected to drive the demand for industrial valves. The demand for industrial valves used in oil and gas industry is expected to grow at a CAGR of 6%–7% during the forecast period due to the establishment of new pipelines and operational refurbishment of oil refineries. In addition, increase in investments in wastewater management by application industries across the globe is expected to drive the demand for industrial valves.
SpendEdge’s latest procurement research report on the global industrial valves market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the facility management, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
“Industries across the globe are aiming at achieving operational excellence in terms of monitoring and controlling of equipment used in manufacturing and production processes through real-time data analysis and remote access. This is leading to replacement of conventional industrial valves with technologically advanced industrial valves, such as energy-efficient valves, automatic control valves, and smart valves.” – Bhuvaneshwari Udayakumar, facility management expert at SpendEdge.
Buyers find it challenging to select suppliers based on LCC analysis, which is one of the main procurement practices. In general, plant facilities consist of a significant number of legacy equipment, which affects the operational efficiency of industrial valves. As a result, issues in the assessment of LCC during procurement is causing problems for sourcing teams in this market.
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This procurement report on the industrial valves market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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