Latest Study on MENA Valves Market Size 2023 and Forecast till 2030 | Consumption, Competitive Landscape, Drivers, Opportunities, Trends
Rationalstat LLC
8 min read
Rationalstat LLC
The MENA Valves market is expected to approach US$ 5.8 billion by 2030, with an annual growth rate of more than 5% says RationalStat
Wilmington, Delaware, Sept. 25, 2023 (GLOBE NEWSWIRE) -- MENA Valves Market was valued at US$ 4.1 billion in 2023 and is expected to grow at a significant CAGR of over 5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The Middle East and North Africa (MENA) region is home to some of the world's greatest oil and gas deposits and production facilities. Valves play an important role in the oil and gas business, where they are utilized in drilling operations, refining processes, pipeline transportation, and storage facilities. The region's reliance on the oil and gas industry causes high demand for valves. As urbanization and population expansion continue, the MENA area requires upgraded water supply and wastewater treatment facilities. Valves are essential components of these systems, which include water delivery, desalination, and sewage treatment.
According to a deep-dive market assessment by RationalStat, the MENA valves market has been analyzed on the basis of market segments, including type, application, and geography/regions (including Middle East and North Africa). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the MENA valves market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the MENA valves market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
MENA Valves Market: Segmental and Market Share Analysis
On the basis of type, the gate valve segment accounted for the highest market share and is predicted to be the most rapid category accounted for the largest market share.
On the basis of region, Saudi Arabia dominated the market, and it is expected to witness a CAGR of over 7% during the forecast period.
The Saudi economy was primarily driven by the expansion of the oil and gas industry, with the non-oil sector contributing just a small portion of the Kingdom's GDP.
However, in its tenth development plan, the government announced steps to modify economic policies through investments in a variety of areas. It has been attempting to attract private investment in order to diversify the country's economy and make it less reliant on oil. In the Kingdom, there are various oil and gas, refinery, and pipeline projects in the development, exploring, or construction stages. Such developments are expected to raise demand for valves in the future years.
Some of the prominent players and suppliers operating and contributing significantly to the MENA valves market growth include Alfa Laval AB, Emerson Electric Co., Flowserve Corporation, IMI Critical Engineering, Georg Fischer Ltd, Crane Co., Honeywell International Inc, Saint-Gobain, and Danfoss AS, among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
