The global Industrial Valves Market is projected to reach USD 106.29 billion by 2031, at a CAGR of 5.2%, from USD 67.35 billion in 2022. The industrial valves market is expected to continue to grow in the coming years due to the rapid industrialization and infrastructure development.
The market for industrial valves is essential for managing the flow of gases, liquids, and slurries throughout a variety of industrial operations. These valves are essential parts of many different industries, including as manufacturing, oil and gas, chemicals, water and wastewater treatment, and power generation. Industrial valves are mechanical devices that control the flow, pace, and pressure of fluids in industrial systems to guarantee their safe and effective operation. A wide variety of valve types, each designed for a particular use, including gate, globe, ball, and butterfly valves, are what define the market.
The creation of smart valves with automation and sensor capabilities has been made possible by technological improvements, which improve precision and allow for remote monitoring and control. The market for industrial valves is anticipated to rise steadily due to the need for improved efficiency, dependability, and safety in a variety of industrial operations, as well as the ongoing evolution of industrial processes and the increasing need for energy and resources worldwide.
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In July 2023, Theis Precision Steel India Pvt. Ltd. (Theis Precision) has been successfully acquired by BDK Valve Private Ltd., a maker of industrial valves, and Gurukrupa Group, a real estate developer in western India. This is the promoter group’s second foreign company acquisition.
In February 2023, The definitive agreement between Montreal-based Velan Inc., a manufacturer of engineered industrial valves, and Dallas-based Flowserve Corp., a provider of flow control products and services for the global infrastructure markets, states that Flowserve acquires Velan.
Market Dynamics
Based on product, the global industrial valves market is divided into quarter-turn valve, multi-turn valve, and others. The quarter-turn valve category dominates the market with the largest revenue share. Quarter-turn valves are a prominent category, characterized by their operation that requires only a quarter-turn of the valve handle to fully open or close the valve. The most common type within this category is the ball valve, which features a spherical closure unit that controls the flow of fluids. Ball valves are known for their quick and reliable shutoff capabilities. Multi-turn valves require multiple rotations of the valve stem to regulate the flow. These valves are often used in applications where precise control over the fluid flow is crucial. Globe valves and gate valves are examples of multi-turn valves.
Globe valves have a linear motion disk that regulates flow, while gate valves use a gate-like disc for on/off control. The energy & power segment is the largest segment of the industrial valves market, based on application. In the energy and power sector, industrial valves play a crucial role in controlling the flow of various fluids, including steam, water, and fuel. They are integral to power generation processes, ensuring efficient operation and safety in applications like power plants and renewable energy facilities. A number of factors dynamically influence the industrial valves market and shape its trajectory.
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An important factor driving this need is the rising energy consumption of the world’s population, which fuels the expansion of sectors like petrochemicals, power production, and oil and gas, all of which increase demand for industrial valves. Technological innovations, in particular the use of automated and smart valves, boost market growth by improving safety standards, lowering maintenance costs, and increasing efficiency. Environmental considerations and regulatory requirements are also crucial, and the development and uptake of eco-friendly valve solutions are influenced by the increased emphasis on sustainable practices. The market is characterized by fierce rivalry, which encourages innovation and the launch of new goods to satisfy changing consumer demands.
Market dynamics are impacted by geopolitical circumstances, economic conditions, and changes in the pricing of raw materials. These factors have an impact on investment decisions and project timeframes within major industries. Furthermore, the COVID-19 epidemic has forced manufacturers to reevaluate the robustness of their supply chains, embracing digital technology and investigating local sourcing tactics. The industrial valves market is expected to negotiate a dynamic terrain created by technical breakthroughs, regulatory adjustments, and global economic conditions as industries continue to grow and global infrastructure projects expand.
Regional Analysis
The industrial valves market in Asia Pacific is expected to lead globally. Driven by a combination of strong economic growth, rising industrialization, and considerable infrastructural development throughout the area, the industrial valves market in Asia Pacific is positioned to seize the lead globally. The need for industrial valves has increased as major Asian economies—China and India included continue to experience fast industrial growth in areas like manufacturing, water management, and energy. The region is leading the industry in oil and gas extraction, refining, and distribution because of its supremacy in these industries, where industrial valves are essential. Furthermore, the Asia Pacific region’s focus on environmental sustainability and renewable energy initiatives has raised the adoption of specialist valves, which has boosted the market as a whole. The Asia Pacific region is positioned as a leader in the global industrial valves landscape due to the existence of significant manufacturing centers and an increasing emphasis on technical improvements, such as the integration of automated and smart valves. The Asia Pacific area is anticipated to maintain its lead due to continued urbanization, infrastructure developments, and a wide range of industrial operations. This presents profitable prospects for suppliers and manufacturers in the rapidly expanding industrial valves market.
The report “Industrial Valves Market Size, Share & Trends Analysis Report by Type (Butterfly Valve, Ball Valve, Globe Valve, Gate Valve, Plug Valve, and Others), by Product (Quarter-turn Valve, Multi-turn Valve, and Others), by Application (Energy & Power, Water & Wastewater Management, Chemicals, Oil & Gas, and Others), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from: https://www.econmarketresearch.com/
Further key findings from the report suggest:
- The global industrial valves market is predicted to register a compound annual growth rate (CAGR) of 5.2% over the projected period of 2023-2031.
- Asia Pacific will be the leading region of the global industrial valves market during the forecast period of 2023-2031.
- The major key players in the global industrial valves market are: Emerson Electric Co., Fluidline Valves Co. Pvt. Ltd., AVK Holdings A/S, Flow Control Technology Valve, Metso Outotec Corporation, KLINGER Holding, Schlumberger Limited, Fluidchem Valves (India) Pvt. Ltd., Bohmer GmbH, Forbes Marshall, EG Valves Manufacturing Co., Ltd., Microfinish Valves Pvt. Ltd.
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Econ Market Research has segmented the global industrial valves market based on type, product, application, and region:
Industrial Valves Market by Type (Revenue, USD Billion, 2023-2031)
- Butterfly Valve
- Ball Valve
- Globe Valve
- Gate Valve
- Plug Valve
- Others
Industrial Valves Market by Product (Revenue, USD Billion, 2023-2031)
- Quarter-turn Valve
- Multi-turn Valve
- Others
Industrial Valves Market by Application (Revenue, USD Billion, 2023-2031)
- Energy & Power
- Water & Wastewater Management
- Chemicals
- Oil & Gas
- Others
Industrial Valves Market Regional Analysis (Revenue, USD Billion, 2023-2031)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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