Africa Industrial Valves Market to Surpass $4 Billion by 2021

TechSci Research Report

NEW YORK, February 21, 2017 /PRNewswire/ --

Recovering oil & gas sector and growing focus towards industrial expansion by various countries in the region to drive demand for industrial valves in Africa through 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 USD4 billion by 2021. Oil & gas sector in Africa has been one of the highest demand generator for industrial valves over the past few years. Crude oil production in Africa stood at 398 million tonnes in 2015. Thus, boosting 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 & 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, aforementioned factors are anticipated to fuel demand for industrial valves in Africa 2016-2021.

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Oil & Gas Production in Algeria, 2015 (Million Ton)  

   
                   Production (in
    Segment        Tons)
    Oil            68.5
    Gas            74.7

Browse 17 market data Tables and 42 Figures spread through 143 Pages and an in-depth TOC on 

"Africa Industrial Valves Market" 

https://www.techsciresearch.com/report/africa-industrial-valves-market-by-type-ball-valve-gate-valve-etc-by-end-user-oil-gas-power-etc-by-country-nigeria-egypt-angola-algeria-south-africa-morocco-and-rest-of-africa-competition-forecast-and-opportunities/921.html

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 & 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 dominate the market through 2021. Leading end users of industrial valves in Africa are oil & gas, power, chemical, etc., as valves are used to control and manage the flow of liquid or gas in the respective industry.