Global Knife Gate Valves Market Was 1.33 Million Units And Worth $ 771.01 Million In 2017
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In the coming years there is an increasing volume demand for Knife Gate Valves in the regions of North America and Europe that is expected to drive the market for more advanced Knife Gate Valves. Increasing of construction fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on agriculture Knife Gate Valves industry, retrofitting and renovation of old technology, increasing adoption of Knife Gate Valves will drive growth in Asia markets.
Globally, the Knife Gate Valves industry market is low concentrated as the manufacturing technology of Knife Gate Valves is relatively matures than some high-tech equipment. And some enterprises, like Federal Orbinox, DeZURIK, Emerson (Pentair Valves & Controls), VAG etc. are well-known for the wonderful performance of their Knife Gate Valves and related services.
The consumption volume of Knife Gate Valves is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Knife Gate Valves industry may not keep that fast. But it is surely forecasted that the market of Knife Gate Valves is still promising. At the same time, Asia-Pacific, occupied 33.21% sales market share in 2017, is remarkable in the global Knife Gate Valves industry because of their market share and technology status of Knife Gate Valves.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the Knife Gate Valves market to approach these areas. The global Knife Gate Valves market was 1.33 million units and worth $ 771.01 million in 2017 and is expected to reach 973.05 million USD in 2023, growing at a CAGR of 3.96% from 2017 to 2023.
Although the market competition of Knife Gate Valves is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Knife Gate Valves and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.