The global gate valve market is set for significant expansion, with projected revenues reaching USD 14.8 billion by 2023. Industry forecasts indicate a consistent Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2033. This trajectory positions the gate valve market to achieve a noteworthy milestone of USD 24.3 billion by the end of the assessment period, underscoring its resilience and substantial growth potential.

Central to this growth narrative are the strategic initiatives implemented by industry frontrunners. These market leaders strategically focus on seizing opportunities in offshore and chemical gate projects, effectively strengthening their presence and market dominance within the gate valve sector. Their forward-thinking actions align seamlessly with the escalating demand for gate valves in critical industries such as energy, oil and gas, and chemical processing.

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Gate Valves: Essential Components for Oil & Gas Sector Operations

Gate Valves play a pivotal role within the oil & gas sector, acting as crucial tools for controlling the flow of hydrocarbons during exploration, drilling, and production endeavors. These valves find extensive usage in key infrastructure elements such as wellheads and Christmas trees, where they assume the responsibility of managing oil & gas flow, upholding safety standards, and preventing potential leaks.

The versatile application of Gate Valves spans across both the upstream (exploration and production) and midstream (transportation and storage) segments of the oil & gas industry. In the upstream domain, these valves are strategically placed at wellheads and production facilities. Meanwhile, within the midstream sector, Gate Valves find their role in pipelines and storage tanks, facilitating the smooth transportation and storage of fluids.

Key Insights from Gate Valve Market Analysis:

Sales of Gate Valves witnessed strong growth with a CAGR of 4.8% from 2018 to 2022.
The wedge Gate Valves segment is expected to hold a significant market share of 45.4% by 2023 based on disc type.
The oil & gas segment is projected to create a considerable absolute dollar opportunity of USD 2,634.9 Million in 2023, in terms of end-use applications.
Geographically, North America is poised to contribute substantially, accounting for more than 24.7% of the total market value in 2023.
Brazil is anticipated to generate an incremental opportunity of USD 354.7 Million in 2023.
Prominent Players in the Gate Valve Market:

Emerson Electric Co.
Flowserve Corporation
AVK Holding A/S
Velan Inc.
DeZURIK Inc.
Zhejiang Zhongcheng Valve Co. Ltd.
Crane Co. Ltd
Tecofi
Weir Group PLC
Bray International
Others
Recent Noteworthy Developments:

Weir Minerals introduced the Isogate WR knife gates valve in March 2012, offering a substantial enhancement in valve performance for mine and aggregates operators.
AVK Valves launched four new sizes of Gate Valves featuring PE ends with outer pipe dimensions of 450, 500, 560, and 630 mm in February 2020. These additional sizes are available in PN10 and PN16 in black/blue basic pipes.
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Gate Valve Market Segmentation:

By Disc Type:

Wedge Gate Valve
Solid Wedge
Flexible Wedge
Split Wedge
Parallel Slide Gate Valve
Knife Gate Valve
Slab Gate Valve
By Valve Material Used:

Cast Iron
Steel
Carbon Steel
Stainless Steel
Alloy Steel
Cast Steel
Brass
Bronze
Plastic
PVC
CPVC
PP
Others
By Size:

0.25 inch to 2 inch
3 to 12 inch
14 to 30 inch
More Than 30 inch
By End Use:

Oil & Gas
Upstream
Midstream
Downstream
Water and Wastewater Treatment
Flow Control
High-pressure Applications
Corrosive Fluid Handling
Others
Chemical and Petrochemical
Power Generation
Steam System
Cooling System
Fuel Supply System
Others
Mining and Minerals
HVAC
Marine and Shipbuilding
Others
By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia Pacific
East Asia
Middle East and Africa
Read More: https://www.futuremarketinsights.com/reports/gate-valve-market