New Report Forecasts Industrial Valves Market to Surpass $90 Billion Mark by 2026
The Industrial Valves Market Size is anticipated to expand at a CAGR of 4.4% from USD 73 billion in 2021 to USD 90.5 billion by 2026. Use of IIoT and Industry 4.0 in industrial valves Valves are critical components of various industrial equipment. The failure of valves could lead to disruptions in plant processes. Traditional, schedule-based maintenance methods fail to alert manufacturing companies about impending valve failures. Due to this, technicians often inform about faults while inspecting valves, which, in turn, results in unplanned downtime that could have been avoided by the implementation of Industrial Internet of Things (IIoT). However, recent developments in data science, communications, and computing power have enabled companies to leverage IIoT technology for reducing unplanned downtime due to valve failures. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256097136 Key Players A few of the key players in the Industrial Valves Market