A valve is a device used for flow regulation and control in an industrial or domestic piping system. Among them, the industrial valve market is segmented according to its application in industry, namely: oil and gas, chemical, municipal, power, and mining, among other sub-sectors. The African industrial valves market is expected to be one of the fastest-growing markets in the next five years, with the growth of the oil, gas, and power application industries expected to drive the demand for industrial valves in Africa, while the demand for applications in the water and wastewater sector and the demand from the petrochemical industry will also increase the demand for industrial valves in Africa.
According to relevant research, the valve market in Africa and the Middle East will reach $10 billion by 2019, with a market compound annual growth rate of 5.7% from 2014 to 2019. At the same time, Africa is expected to be one of the emerging markets for industrial valves, and the growing demand for oil and gas and power industry applications in the region is the main driver for the growth of the African industrial valve market.
In terms of individual markets, the African industrial valve market size is expected to exceed $4 billion by 2021. In the years leading up to 2015, Africa's oil and gas sector was one of the most demanding production sectors for industrial valves. In 2015, Africa produced 398 million tons of crude oil, and during the period 2011-2015, the demand for industrial valves in the African oil and gas industry continued to grow. However, over the past few years, global crude oil prices have fallen significantly. As a result, most African countries are now concentrating on developing other industrial sectors to reduce their dependence on the oil and gas sector. Currently, Africa's petrochemical, power and mining sectors are also in need of industrial valves to support production, and investors are increasing their investment in infrastructure in these sectors. As a result, the growth in demand in these areas is expected to drive the demand growth for industrial valves in Africa in the future.
In 2015, ball valves had the highest market share in the African industrial valve market, and the market share of this valve is expected to increase further in 2021 due to the growing demand in the oil and gas development market.
Nigeria and Egypt have been the largest industrial valve markets in Africa for the past few years, and these countries are expected to continue to dominate the African market in 2021. The end-use markets for industrial valves in Africa include oil and gas, power, chemicals, and more.
Currently, the African industrial valve market is mainly import-driven. Many global manufacturers of industrial valves, such as Flowserve, Pentair Corporation, Emerson Process Management and Weir Group, supply valves in many African countries. These companies operate in the African industrial valve market through their sales offices and channel partners in Africa. Local distributors import industrial valves from these industrial valve manufacturers and supply them to major regional markets in Africa. Industrial valve manufacturers have strategic partnerships with distributors to meet the demand for industrial valves in Africa. Thus, the increase in mergers and acquisitions, coupled with the expansion of the alternative market for industrial valves in Africa, is expected to further drive the growth of the industrial valves market in Africa by 2021.