Global diaphragm valves market is projected to register a CAGR of 7.1% in the forecast period of 2019 to 2026.
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The radioactive waste needs to be diluted or isolated in such a manner that the concentration or rate of any radionuclide returned to the biosphere is harmless. In order to achieve this, all the radioactive waste needs to be contained and managed in a safe manner. Diaphragm valves are used in different steps and processes for determining, managing and disposing the radioactive wastes with the safe methods.
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INCREASING NUCLEAR PLANTS DUE TO HUGE DEMAND FOR ELECTRICITY
Rising demand for electricity is boosting the establishment of nuclear power plants as it is an environmentally benign idea for the large-scale electricity production. The increasing number of nuclear plants is contributing to the growth of diaphragm valves market as they are used in nuclear power plants for water feed, pollution control, chemical treatment, cooling water, and steam turbine control system.
For an instance, there are approximately 450 nuclear power plants operating in 30 countries, with a combined capacity of approximately 400 Gigawatt electrical. These reactors provided around 2,506 billion kilowatt-hours of electricity in the year 2017, which was equivalent to over 10% of the global electricity. Around 50 power plants are under construction in 15 countries, notably India, China, United Arab Emirates, and Russia.
Approximately hundreds of diaphragm valves are used to manage flows of steam and water, including start/ stop, reduction/ increment, and regulation of the flow and processing the pressure, in a large nuclear power plant. Therefore, increasing nuclear power plants will boost the growth of global diaphragm valves market.
GROWING POWER CONSUMPTION IN DEVELOPING COUNTRIES
As developing countries in Asia-Pacific region, like China, India, Japan, and South Korea have been dominant countries among the largest energy consuming countries, there is a huge scope of diaphragm valves market to grow. For an instance, there are approximately 450 nuclear power plants operating in 30 countries, including Taiwan and around 50 power plants are under construction in 15 countries, notably India, China, United Arab Emirates, and Russia.
For an instance, Asia witnessed the significant increase in energy consumption in 2017 and the China alone was the consumer of 5,683 terawatt-hours of electricity. Japan, India, Indonesia, and South Korea also witnessed the growth in energy consumption. Increasing population, enhanced access to electricity, and GDP growth are leading to the growth in energy demand in the emerging countries of Middle East & Africa, and Southeast Asia. Electric vehicles and energy consuming gadgets are also fuelling the demand of electricity.
Global diaphragm valves market is segmented into eight notable segments which are type, valve type, end connection, controller, material, body material, distribution channel, and end user.
- On the basis of type, the market is segmented into weir and straight. In 2019, weir segment is growing with the market share of 62.3% and is expected to reach USD 4,450.93 million in 2026 from USD 2,522.67 million in 2018 with the highest CAGR of 7.5% in the forecast period of 2019 to 2026.
- On the basis of valve type, the market is segmented into two-way valve, forged T-valve, block T-valve, multi-port valve, tandem valve, forged tank outlet valve, block tank outlet valve, and others. In 2019, two way valve is growing with the market share of 36.7% and is expected to reach USD 2,761.37 million in 2026 from USD 1,472.44 million in 2018 with the highest CAGR of 8.3% in the forecast period of 2019 to 2026.
Major Players: Global Diaphragm Valves Market
Some of the prominent participants operating in this market are Fipnet, GEMU Group, NIPPON DAIYA VALVE, Christian Bürkert GmbH & Co. KG, Century Instrument Company, Dymax Corporation, INTERNATIONAL POLYMER SOLUTIONS, Asahi/America, THE PROTECTOSEAL COMPANY, APLUS FINETEK SENSOR, INC., Crane Co., ITT INC., ALFA LAVAL, Emerson Electric Co., GEA Group Aktiengesellschaft, KSB SE & Co. KGaA, The Weir Group PLC, TVI, Diaphragm Direct, Rotarex among others.
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