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The Global Industrial Valves Market size is expected to reach $91.4 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period

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New York, March 23, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Industrial Valves Market Size, Share & Industry Trends Analysis Report By Type, By Material Type, By Application, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06435131/?utm_source=GNW
Additionally, the application of automated technology has aided in decreasing the wastage of fluids passing via valves and pipes, leading to the reduction in overall prices.

As a result, several businesses are accepting automation and control technologies by improving their already installed industrial valves that is propelling the growth of the industrial valves market. Furthermore, the growing concern regarding sanitation would further surge the need for stainless steel valves in water and wastewater treatment plants.

This is because the stainless-steel valves can deal with harsh temperatures, chemicals and hard water conditions due to their quality of resisting corrosion. Furthermore, stainless steel is durable compared to other materials like ductile iron, cast iron, copper, and brass under temperature tolerance and pressure rating. Therefore, stainless steel is considered better option than the carbon steel in applications where resistance from corrosion is crucial.

Thus, stainless steel ball valves are majorly being demanded by industry verticals like food & beverages, chemicals, pharmaceuticals, and oil & gas. The on or off valves are one of the most indispensable and fundamental components of the modern technological society. These are one among the oldest products being used from many years. The valve industry is very vast, with several utilization varying from downstream and upstream of oil & gas to nuclear power to water distribution. All of these end-user industry verticals utilize one or another kind of valve.

COVID-19 Impact Analysis

The energy & power and water & wastewater treatment plants also witnessed a decline in their demand due to COVID-19 pandemic. Also, the manufacturing sector has been significantly impacted by COVID-19 in almost every nation. In addition, there were restrictions on foreign trade because of the non-operational distribution channels, lockdown of international borders, and several other preventive steps taken for public safety and health. Due to these reasons, significant end-user manufacturing businesses in nations like the UK, Germany, the U.S., and others also encountered financial problems because of the halted production. These factors obstructed the growth of the industrial valves market throughout the pandemic period.

Market Growth Factors

Growing demand for valves in pharmaceuticals and healthcare

Valves can keep materials and components clean in oxygen therapy devices and sterilizers, support analyzers, manage pressure relief, and other essential hematology equipment. The high-purity and high-pressure valves also supply oxygen to remote and pop-up hospitals and triage centers. The increase in the utilization of industrial valves in the pharmaceutical sector to prevent contamination that might occur because of inefficient handling of chemicals is accelerating the market’s growth. In addition, the integration of industrial valves in the pharmaceutical industry has become significant with the necessity for high-quality pharmaceutics. These factors will support the growth of industrial valves market during the projection period.

Technological developments and utilization of IIoT

The “Industry 4.0” upgrade has pushed the manufacturing industry more towards automation, which further assists in increasing the quality of the work and process. Technological developments occurred in recent past have allowed the businesses to utilize the latest technologies like IIoT technology and AI (artificial intelligence) to reduce unplanned downtime and several other unfavourable incidents because of the failures of valves. These valve technologies assist the experts in monitoring the condition and health of industrial valves from remote areas. These elements will surge the growth of the industrial valves market throughout the predicted period.

Market Restraining Factors

Issues with industrial valves

Despite of various benefits, industrial valves also face various issues. These issues involve flashing & cavitation, limited rangeability, erosion & corrosion, and vibrations. Sudden falling of pressure from high to low may lead to flashing & cavitation in globe valves. When these circumstances occur, there will be a decline in the quantity of liquid that flows through the line. This forces the workers to stop the line to solve the problem. These issues with industrial valves will obstruct the growth of the industrial valve market in the upcoming years.

Material Type Outlook

Based on material type, the industrial valves market is segmented into cast iron, steel, alloy based, and others. In 2021, the cast iron segment garnered a substantial revenue share in the industrial valves market. Cast iron or grey iron is a metal that has been utilized for hundreds of years. Its temperature tolerance is impressive and can handle temperatures above 1150C or 2100F. The strength of cast iron relies on the pressure class. The two most common pressure classes are class 250 and class 125. The pressure rating of class 125 is between 150 and 200 psi, whereas the pressure rating of class 250 is between 300 to 500 psi.

Type Outlook

On the basis of type, the industrial valves market is fragmented into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, and diaphragm valves. In 2021, the gate valves segment acquired a considerable revenue share in the industrial valves market. These valves are capable of completely shutting off the flow of fluid. It could also operate in a fully open position. They could be of the wedge and parallel shape types. Gate valves can also provide a path to the fluid through a barrier lift. These factors will influence the adoption of gate valves and thus supporting the development of the industrial valves market.

Application Outlook

By application, the industrial valves market is divided into oil & gas, water & wastewater, chemical, food & beverage, and others. In 2021, the oil & gas segment held the largest revenue share in the industrial valves market. Rising demand for longer pipelines, deeper wells, lower manufacturing costs, and technological advancements of processing, and transportation are responsible for the growth of the industrial valves market. Furthermore, expanding pipeline installations and the necessity for controlling & monitoring from the centralized location have driven the production and demand for smart valves.

Regional Outlook

Region-wise, the industrial valves market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region dominated the industrial valves market with the maximum revenue share. In Asia Pacific, the water & wastewater treatment facilities are increasing the utilization of industrial valves significantly. The high per capita income, dense population, rapid urbanization, and large-scale industrialization are the significant factors that are driving the expansion of the industrial valves market in the APAC region.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V., IMI Plc., Crane Co., Flowserve Corporation, Metso Outotec Corporation, The Weir Group PLC, AVK Holding A/S, Avcon Controls Pvt. Ltd., and Forbes Marshall Pvt. Ltd.

Scope of the Study

Market Segments covered in the Report:

By Type

• Globe Valves

• Gate Valves

• Plug Valves

• Check Valves

• Butterfly Valves

• Ball Valves

• Diaphragm Valves

By Material Type

• Steel

• Cast Iron

• Alloy Based

• Others

By Application

• Oil & Power

• Chemical

• Water & Wastewater

• Food & Beverages

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Emerson Electric Co.

• Schlumberger N.V.

• IMI Plc.

• Crane Co.

• Flowserve Corporation

• Metso Outotec Corporation

• The Weir Group PLC

• AVK Holding A/S

• Avcon Controls Pvt. Ltd.

• Forbes Marshall Pvt. Ltd

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06435131/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Wirex Executive Joins CryptoUK’s New Policy Committee

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LONDON, May 21, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is proud to announce that Chet Shah, Global Chief Risk & Compliance Officer at Wirex, has joined CryptoUK’s newly established Policy Committee.

CryptoUK, the premier trade body representing the UK’s digital asset sector, formed its new Policy Committee which brings together industry-leading experts from the legal, regulatory, and compliance sectors. The committee’s mission is to provide strategic policy guidance, advocate for regulatory clarity, and foster innovation to support the growth of the UK’s digital assets industry.
This appointment underscores Wirex’s commitment to advancing regulatory clarity and innovation in the digital asset sector.
Chet brings a wealth of experience in risk and compliance. His background covers banking, auditing, and traditional finance, as well as solid expertise in the cryptocurrency space. At Wirex, Chet has been crucial in building and improving relationships with global regulators, including the Financial Conduct Authority, and authorities in countries including Singapore, Croatia, and Italy.
Chet’s approach prioritises commercially focused compliance and risk management, ensuring that Wirex operates smoothly at the intersection of traditional finance and Web3. His ability to balance regulatory requirements with innovation has been key to Wirex’s growth and success.
Commenting on his appointment, Chet said, “My experience aligns perfectly with the committee’s goals and together, we can advocate for policies that balance regulation with growth in the digital assets space.”
About Wirex 
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management.
Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
Photo: https://mma.prnewswire.com/media/2417875/Chet_Shah.jpgLogo: https://mma.prnewswire.com/media/2286023/4717325/Wirex_logo.jpg

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Media Production Company Egg Is Coming Chooses Infortrend SAN Storage to Empower Content Creation Workflows

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TAIPEI, May 21, 2024 /PRNewswire/ — Infortrend® Technology, Inc. (TWSE: 2495), the industry-leading enterprise storage provider, today announced that Korean media production company Egg is coming is leveraging Infortrend’s storage solution for M&E – EonStor DS enterprise SAN storage to empower content creation workflows and store the growing volume of UHD videos they produce.

Egg is coming is a media content production company operating as a spin-off from the South Korean entertainment giant CJ ENM Entertainment Division, the distributor of Oscar-winning movie “Parasite”. With the renowned producer Lee Myung-han as its CEO, Egg is coming specializes in production of popular entertainment content, including drama series, broadcast programs, music videos, etc. The team has successfully produced numerous renowned series, including “Hospital Playlist” which became the ninth highest-rated Korean drama in cable television history at the time.
As the company was established, they started looking for a high-speed shared storage solution. Infortrend’s EonStor DS SAN storage came highly recommended by a major media company that has been successfully using it with Tiger Technology’s SAN file sharing solution. Trusting this recommendation, Egg is coming adopted EonStor DS for video editing application. In total, four DS 4016 appliances, expanded with four units of JB 3060L expansion enclosure, were chosen for the initial deployment of the studio’s storage system. The solution provides 1.8 PB total capacity to store ever-expanding UHD video content and enables seamless workflows for 29 simultaneous post-production processes.
“Infortrend’s SAN storage EonStor DS was recommended to us by a major media production company, and we are happy that we adopted the same solution as DS enables fast and comfortable collaboration between 29 video editors,” – said Changmin Sim, the Team Leader of the Video Editing Team at Egg is coming.
Learn more about EonStor DS
About Infortrend
Infortrend (TWSE: 2495) has been developing and manufacturing storage solutions since 1993. With a strong emphasis on in-house design, testing, and manufacturing, Infortrend storage delivers performance and scalability with the latest standards, user friendly data services, personal after-sales support, and unrivaled value. For more information, please visit www.infortrend.com
Infortrend® and EonStor® are trademarks or registered trademarks of Infortrend Technology, Inc.; other trademarks are the property of their respective owners.

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Gcore And Xsolla Announce Partnership To Drive Global Game Distribution And Faster Downloads

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Gcore’s edge network to deliver Xsolla Launcher, ensuring global reach, smoother game downloads and higher conversion rates

LUXEMBOURG, May 21, 2024 May 21, 2024 — Gcore, the global edge AI, cloud, network, and security solutions provider, announced its partnership with video game commerce company Xsolla. The alliance will enable Xsolla to provide game developers and publishers with new global distribution channels catering to gamers worldwide, regardless of their locations. With Gcore’s 180 global points of presence (PoPs), players will benefit from reduced time-to-play and smoother, more efficient game downloads.
Xsolla Launcher is a powerful tool for game development companies of all sizes to widen distribution and easily build communities. It streamlines game installation, enhances player communication, and boosts monetization, allowing developers to concentrate on creativity and business logic. By leveraging Gcore’s robust CDN, Xsolla Launcher ensures seamless, speedy game downloads for all players by efficiently fetching and caching game components and initiating rapid downloads upon player request.
“At Xsolla, we’re committed to elevating the gaming experience for developers and players globally,” said David Stelzer, President of Xsolla. “Our collaboration with Gcore’s cutting-edge CDN technology significantly narrows the gap between the game and its players by delivering assets at unparalleled speed. This integration into our new Xsolla Launcher sets the bar for high-performance service and empowers our customers to focus on what they do best: create captivating games.”
Xsolla engineers chose Gcore CDN for its global network of 180+ edge servers, ensuring uninterrupted delivery of game assets worldwide. With a network capacity exceeding 110 Tbps and connectivity to 14,000 peering partners, Gcore averts congestion and disruptions, even during major releases. Operating under strict security measures and meticulous server maintenance, Gcore guarantees exceptional availability. Additionally, Gcore’s CDN integration with its proprietary DNS services further minimizes the risk of service interruptions or outages.
“We’re thrilled to be part of Xsolla’s pioneering solution, driving the gaming industry forward,” commented Ilya Matveev, Business Development Director at Gcore. “Xsolla Launcher brings flexibility to the industry, allowing companies to implement a D2C approach – a way to monetize their existing game fan base without the burden of platform fees. Relying on the power of Gcore’s edge infrastructure, Xsolla Launcher is revolutionizing game distribution by eliminating market barriers, reducing development costs, and fostering creativity.”
Read more about the partnership via this link.
About Gcore
Gcore is a global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a staff of 600 operating from ten offices worldwide, Gcore provides solutions to global leaders in numerous industries. Gcore manages its global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM due to the average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers, with a total capacity exceeding 110 Tbps.Website | Twitter | Facebook | LinkedIn
About Xsolla 
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Beijing, Guangzhou, Seoul, Tokyo, Kuala Lumpur, Raleigh, and cities around the world, Xsolla supports major gaming titles like Valve, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
Website | Twitter | Facebook | LinkedIn
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