Water and Gas Valves Market 2023

According to IMARC Group's latest research report, titled "Water and Gas Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the water and gas valves market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global water and gas valves market size reached US$ 20.64 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.25 Billion by 2028, exhibiting a growth rate (CAGR) of 5.15% during 2023-2028.

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Water and Gas Valves Market Outlook:

Water and gas valves refer to the mechanical devices that are utilized to precisely control the flow of fluids through a conduit in a plumbing system. These valves use a disc, gate, or a ball to regulate the flow of water, where they are lifted to allow water to pass through the pipe and is turned on reverse to close the valve and stop the flow of water. As a result, they can be used for shutting off the water or gas supply in the event of an emergency. Water and gas valves are typically made up of materials such as brass, stainless steel, PVC and bronze, to enable them to withstand high pressure and temperature conditions. Some of their advantages include reduced waste and increased efficiency in water and gas distribution systems and production processes.

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Water and Gas Valves Market Trends:

The global market is primarily driven by the considerable rise in demand for plumbing installations in residential and commercial buildings. This can be attributed to the growing number of construction and infrastructure development projects across the globe. In line with this, the growing concerns for the conservation of water and gas resources are resulting in a higher uptake of water and gas valves to ensure efficient and reliable supply and distribution. Moreover, stringent government regulations aimed at limiting the wastage of these resources are also providing an impetus to the market. In addition to this, continual technological advancements in the manufacturing of valves, such as new materials, improved coatings, and innovative designs are also impacting the market positively. Additionally, the increasing number of repairing, replacement and upgradations of aging water and gas distribution systems, particularly in developing countries is creating a positive outlook for the market. Some of the other factors contributing to the market include rapid urbanization and industrialization, the advent of smart valves, rising adoption of renewable energy resources, the augmenting demand for customized valves and extensive research and development (R&D) activities.

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