According to TechSci Research’s ‘India Industrial Valves Market, By Functionality, By End Use Industry, Competition Forecast & Opportunities, 2012 - 2022’ report, the industrial valves market in India is anticipated to surpass US$2.4 billion by 2022.
The Indian industrial valves market has been catalysed by rising demand for power across diverse end use sectors such as oil and gas. Oil and gas pipeline infrastructure is undergoing considerable expansion in the country and, since valves are regularly deployed in pipelines, this has driven sales in this sector in India.
During the twelfth five year plan (FYP), the FDI inflows in the petroleum and natural gas sector attracted investments worth US$152.77 billion. A major chunk of the funds is set to be used for the expansion of gas pipeline projects across the country. The Indian government has announced plans to develop an additional 15 000 km of gas pipelines by 2017. The increase in the number of pipeline projects in the country is expected to positively influence the India industrial valves market over the next five years.
The report can be accessed here.
Read the article online at: https://www.worldpipelines.com/product-news/02022017/india-valve-market-report-released/