Summary:
· The global industrial valves market size reached USD 73.7 Billion in 2023.
· The market is expected to reach USD 128.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
· Asia Pacific leads the market, accounting for the largest global industrial valves market share.
· Ball valve accounts for most of the market share in the product type segment due to their superior sealing qualities, minimal torque needs, and suitability for applications requiring a fast shut-off.
· On-off/isolation valves hold the largest share in the industrial valves industry.
· Steel remains a dominant segment in the market because of its resilience to high temperatures and pressures in harsh environments, as well as its strength and durability.
· 1"-6" represents the leading application segment.
· Oil and gas accounts for most of the market share in the end-use segment because it necessitates specific valves for hydrocarbon exploration, extraction, processing, and transportation, which raises the bar for dependability and safety.
· The growing adoption of renewable energy sources is impelling the industrial valves market, as power generation facilities increasingly require specialized valves to manage the flow of fluids in solar, wind, and bioenergy applications.
· The rise in global trade and the subsequent demand for efficient logistics and transportation systems are boosting the industrial valves market, as various sectors require robust valves for the safe handling and transportation of goods through pipelines and shipping networks.
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Industry Trends and Drivers:
· The increasing demand for automation and control in industrial processes:
One of the primary drivers of the industrial valves market is the increasing demand for automation and control in industrial processes. Industries such as oil and gas, chemical processing, water treatment, and power generation are increasingly adopting automated systems to enhance operational efficiency, reduce costs, and improve productivity. Industrial valves play a crucial role in these automated systems by regulating the flow of liquids and gases within pipelines and equipment. The integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), into industrial processes necessitates precise control mechanisms, thus supporting the market expansion.
· The expansion of infrastructure development projects:
Governments and private sector entities are increasingly investing in infrastructure development, including water supply and sewage treatment systems, power plants, and transportation networks. These projects require a wide range of industrial valves to ensure the efficient and safe operation of pipelines and equipment. For instance, water and wastewater treatment facilities rely heavily on industrial valves for the management of water flow, pressure regulation, and chemical dosing. The growing emphasis on building and upgrading infrastructure to meet the demands of urbanization and population growth sustained demand in both developed and emerging economies thereby aiding the market growth.
· Growing emphasis on safety and regulatory compliance across various sectors:
The growing emphasis on safety and regulatory compliance is significantly influencing the Industrial Valves market. Industries are increasingly facing stringent regulations concerning safety standards, environmental protection, and operational reliability. The need to comply with these regulations drives the demand for high-performance industrial valves that can withstand harsh operating conditions, prevent leaks, and ensure safe operations.
Additionally, industries such as oil and gas and chemicals, which pose significant safety risks, require advanced valves that meet international safety standards and provide reliable performance. The increasing focus on risk management and operational safety encourages manufacturers to innovate and develop advanced valve technologies that enhance safety and compliance, strengthening the market growth.
Industrial Valves Market Report Segmentation:
Breakup By Product Type:
· Gate Valve
· Globe Valve
· Butterfly Valve
· Ball Valve
· Check Valve
· Plug Valve
· Others
Ball valve accounts for most shares due to their excellent sealing capabilities, low torque requirements, and suitability for quick shut-off applications.
Breakup By Functionality:
· On-Off/Isolation Valves
· Control Valves
On-off/isolation valves dominate the market growth as they are essential for controlling the flow of fluids and gases in pipelines, providing safety and efficiency in various industrial processes.
Breakup By Material:
· Steel
· Cast Iron
· Alloy Based
· Others
Steel holds most shares because of its strength, durability, and ability to withstand high pressures and temperatures in demanding environments.
Breakup By size:
· Upto 1”
· 1”-6”
· 7”-25”
· 26”-50”
· 51” and Above
1"-6" represents many shares due to their widespread application in various industries, where they are commonly used for managing flow in pipelines and equipment.
By End Use Industry:
· Oil and Gas
· Power
· Pharmaceutical
· Water and Wastewater Treatment
· Chemical
· Food and Beverage
· Others
Oil and gas exhibit a clear dominance as they require specialized valves for the exploration, extraction, processing, and transportation of hydrocarbons, demanding high reliability and safety standards.
Breakup By Region:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
Asia Pacific holds the leading position due to rapid industrialization, infrastructure development, and increased investments in energy and utility sectors across the region.
Top Industrial Valves Market Leaders:
The industrial valves market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
· AVK Holding A/S
· Cameron International Corporation (Schlumberger)
· The Crane Company
· Emerson Electric Co.
· Flowserve Corporation
· Forbes Marshall
· IMI Plc
· Kitz Corporation
· Neway Valves (Suzhou) Co. Ltd.
· Samson AG
· Velan Inc.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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