TechSci: African industrial valve market to surpass US$4bn by 2021

According to a recently published TechSci Research report "Africa Industrial Valves Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021", industrial valves market in Africa is forecast to surpass US$4bn by 2021

The recovering oil and gas sectors and growing focus towards industrial expansion by various countries across Africa are going to drive demand for industrial valves in Africa through 2021, according to the TechSci Research report "Africa Industrial Valves Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021."

Crude oil production in Africa stood at 398 mn tonnes in 2015., which in turn, has boosted demand for industrial valves in the region during 2011-2015. However, crude oil prices significantly declined globally, over the past few years. Consequently, majority of Africa countries are now focusing on developing other industrial sectors, in order to reduce dependence on oil and gas sector. Petrochemical, power and mining sectors also require valves for various industrial purposes, and investment in these sectors are also rising to further develop infrastructure of these sectors. Therefore, these factors should increase the demand for industrial valves in Africa 2016-2021.

According to the report, ball valves garnered highest market share in Africa industrial valves market in 2015, and market share of this valve type is further anticipated to rise through 2021, owing to growing demand from oil and gas production sites. Nigeria and Egypt were the largest industrial valves market in Africa over the past few years, and these countries are further forecast to continue to dominate the market through 2021. Leading end users of industrial valves in Africa are oil and gas, power, chemical, etc., as valves are used to control and manage the flow of liquid or gas in the respective industry.

"Industrial valves market in Africa is majorly import driven, as various global industrial valve manufacturers such as Flowserve, Pentair Ltd., Emerson Process Management and Weir Group supply valves in number of African countries. These companies operate in Africa industrial valves market through their sales offices and channel partners. Local distributors import industrial valves from these industrial valve manufacturers and then supply them in the regional market. The manufacturers of industrial valves have a strategic partnership with distributors, in order cater demand for industrial valves in Africa. Thus, rising mergers and acquisitions, coupled with expanding industrial valves replacement market in Africa are further expected to boost growth in Africa industrial valves market through 2021." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.