Automation in control valves has made major advancements, owing to growing emphasis on precise positioning and automation of industrial valves.

PORTLAND, OR, UNITED STATES, October 7, 2021 /EINPresswire.com/ -- The industrial valves market is a saturated market with slow organic growth. However, under ‘Industry 4.0,’ major industries are switching toward automation of industrial processes, which is likely to create a demand for industrial valves globally. The automated regulation and control of valves in industrial applications can upgrade the global industrial valves market substantially during the forecast period.

The global industrial valves market size is expected to reach $93,664.9 million in 2028 from $58,547.9 million in 2020, growing at a CAGR of 6.0% from 2021 to 2028.

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Industrial valves are electro-mechanical or mechanical devices used for control of gases, liquid, slurries, and others through pipes and tubes in industries. Different kinds of industrial valves perform various functions such as shut on/off, pressure control, and other regulation purposes. There are various kinds of industrial valves, including ball valves, butterfly valves, check valves, gate valves, globe valves, pinch valves, and others, which are designed for regulation, control, and on & off purposes.

Covid-19 Impact Analysis

The COVID-19 pandemic has negatively affected the industrial valves market mainly due to the halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user manufacturing companies located in countries such as the U.S., Germany, the UK, and others are also facing financial impacts due to halted production, which is likely to hinder the growth of the industrial valves market during 2020.

Key Market Players

AVK Holding A/S
Avcon Controls Private Limited
Schlumberger Limited
Crane Co.
Emerson Electric Co.
Flowserve Corporation
Forbes Marshall
IMI plc
Metso Corporation
The Weir Group plc

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Key Market Segments

By Material Type

Cast Iron
Steel
Alloy-Based
Others

By Valve Type

Ball Valves
Butterfly Valves
Gate Valves
Globe Valves
Plug Valves
Check Valves
Diaphragm Valves

By Application

Oil & Power
Water & Wastewater
Chemical
Food & Beverage
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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