The global industrial valves market is projected to witness sluggish growth at 3.3% and is slated to create an absolute $ opportunity of US$ 22.3 billion.

ROCKVILLE, MARYLAND, UNITED STATES, September 20, 2023/EINPresswire.com/ -- The global industrial valves market is projected to witness sluggish growth at 3.3% and slated to create an absolute $ opportunity of more than US$ 22.3 billion. It is projected to be valued at more than US$ 79.4 billion by the end of the forecast period (2020 – 2030), predicts Fact.MR.

Investments in pipeline infrastructure in the oil & gas sector in downstream applications are expected to boost the installation of industrial valves. ASEAN countries are witnessing an increase in water supply and sanitation projects by governments, which is likely to propel the sales of industrial valves for domestic and agricultural applications. Installation of high-pressure pipelines will drive the demand for valves for the transmission of chemical products, steam, etc.

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Overview of the Industrial Valves Market

Industrial valves are mechanical devices designed to regulate, control, and direct the flow of fluids (liquids and gases) within a system or pipeline. These valves play a pivotal role in numerous industries, including oil and gas, water and wastewater treatment, chemical processing, power generation, pharmaceuticals, and more. They are essential for ensuring the safety, efficiency, and reliability of industrial processes.

The global industrial valves market has seen steady growth over the years, driven by factors such as industrialization, urbanization, and increasing demand for energy resources. The market is characterized by a wide variety of valve types, including gate valves, globe valves, ball valves, butterfly valves, and check valves, each with its own set of applications and advantages.

Key Companies Profiled in This Report

Emerson Electric
KITZ Corporation
Schlumberger Limited
Flowserve Corporation
Watts Water Technologies
Weir Group Plc.
Technip FMC Plc.
KSB SE & Co. KGaA
Alfa Laval Corporate

Key Takeaways of Global Industrial Valves Market

Gate valves are projected to expand 1.5X as compared to 2018 and are projected to account for approximately 22% of the overall value opportunity in the global market by 2028 end. Increasing demand from petroleum industries is anticipated to increase production which also supports the growth of gate valves

The cast steel segment is expected to create an absolute dollar opportunity of US$ 10 Bn during the forecast period.

APEJ accounts for the highest share in the industrial valves market and is expected to grow 1.5X during the forecast period

Automatic function segment is foreseen to grow at the highest CAGR during the forecast period, and the manual function segment is expected to grow 1.4X as compared to 2018

Key Market Drivers

Energy Sector Demands: The oil and gas industry is a major consumer of industrial valves, as they are used extensively in drilling operations, refineries, and pipelines. Additionally, the growing focus on renewable energy sources like wind and solar power has created opportunities for valve manufacturers in these sectors as well.

Water and Wastewater Treatment: As global populations continue to grow, the demand for clean and potable water rises. Industrial valves are vital in water treatment plants for regulating the flow of water and chemicals, ensuring water quality, and minimizing waste.

Chemical and Petrochemical Industry: The chemical industry relies on industrial valves to handle various corrosive and toxic substances safely. Precise control over fluid flow is crucial in maintaining product quality and process safety.

Infrastructure Development: The construction of infrastructure projects, including power plants, water distribution systems, and sewage treatment plants, has bolstered the demand for industrial valves.

Technological Advancements: Automation and the adoption of smart valve technologies have improved efficiency and safety in industries. Remote monitoring and control capabilities are becoming increasingly important features in industrial valves.

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Key Segments of the Industrial Valves Market

Fact.MR’s study on the Industrial Valves market offers information divided into four key segments— valve type, valve material, function, end use and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

By Valve Type :

Check Valve
Dual Plate
Piston Lift
Spring Loaded Disk
Swing Check
Tilting Check
Y Pattern
T Pattern
Gate
Parallel
Wedge
Globe
Tee
Angle
Wye
Ball
Trunnion
Floating
Threaded Series
Plug
Lined
Lubricated
Non-Lubricated
Butterfly
Safety Relief
Other

By Valve Material :

Cast Steel
Carbon Steel
Stainless Steel
Bronze
Other Alloys

By Function :

Manual
Automatic

By End Use :

Oil & Gas
Chemical
Water & Wastewater Treatment
Power Plants
Paper & Pulp
Others

By Region :

North America
Latin America
Eastern Europe
Western Europe
APEJ
MEA
Japan

Recent Industry News

Smart Valve Technology: The integration of sensors and IoT (Internet of Things) technology into industrial valves is gaining momentum. Smart valves enable real-time monitoring, predictive maintenance, and remote control, enhancing efficiency and reducing downtime.

Digital Twin Technology: Companies are utilizing digital twin technology to create virtual replicas of valve systems. This allows for comprehensive testing, analysis, and optimization of valve performance before physical implementation.

Sustainability Initiatives: Valve manufacturers are increasingly focusing on sustainability by developing environmentally friendly materials, reducing energy consumption during production, and recycling valve components.

Mergers and Acquisitions: The industrial valve industry has seen various mergers and acquisitions aimed at expanding product portfolios, market reach, and technological capabilities.

Global Expansion: Several valve manufacturers are expanding their presence in emerging markets, particularly in Asia-Pacific and Latin America, to tap into growing industrial sectors in these regions.

Challenges and Trends

While the industrial valves market shows promise, it faces certain challenges and is subject to ongoing trends:

Environmental Regulations: Stricter environmental regulations are pushing industries to adopt more sustainable and eco-friendly practices. This has led to increased demand for valves that reduce emissions and energy consumption.

Supply Chain Disruptions: The COVID-19 pandemic exposed vulnerabilities in global supply chains, affecting the availability of valve components and impacting production timelines.

Technological Advancements: Industry 4.0 and the Industrial Internet of Things (IIoT) are transforming the industrial landscape. Smart valves equipped with sensors and connectivity capabilities are gaining popularity for their ability to provide real-time data and predictive maintenance insights.

Market Consolidation: The industrial valves market has witnessed consolidation through mergers and acquisitions, as companies aim to expand their product portfolios and global presence.

Energy Transition: The shift towards cleaner energy sources and the reduction of greenhouse gas emissions are influencing the valve market. Companies are exploring valves suited for applications in renewable energy projects.

The industrial valves market continues to evolve, driven by a diverse range of industries and the need for efficient fluid control solutions. While my knowledge is based on information available up to September 2021, it is evident that technological advancements, sustainability concerns, and market dynamics will continue to shape the industry. Staying updated with the latest news and developments in the field is essential for industry stakeholders to make informed decisions and remain competitive in this dynamic market.

Explore More Related Studies Published by Fact.MR Research:

Industrial Safety Valves Market: Global sales of industrial safety valves are expected to increase at a CAGR of 8% during the forecast period.

Hydraulic Valves Market: Hydraulic Valves Market expects to reach US$ 7,895.8 million by 2032 at a 3.8% CAGR. Europe Hydraulic Valves Market holds a 19.3% share, globally.

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