Industrial Valves Market Economic Trends, Industry Development, Challenges, Forecast and Strategies To 2027

The industrial valves market is a saturated market with slow organic growth during the forecast period. 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.

According to the report published by Allied Market Research, the global industrial valves market generated $86.20 billion in 2019, and is estimated to reach $107.35 billion by 2027, registering a CAGR of 3.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, top players’ profiles, major segments, and competitive heat map.

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Based on valve type, the ball valves segment contributed to the largest share in 2019, accounting for nearly one-fifth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the butterfly valves segment is expected to register the highest CAGR of 5.1% from 2020 to 2027.

North America is the largest contributor in the industrial valves industry with the highest share during 2019. The U.S. and Canada are the largest consumers of industrial valves within the region and have strong trade relations with manufacturing countries in Europe and Asia-Pacific.

Covid-19 scenario:
• During the coronavirus pandemic, the demand for industrial valves has not been affected much due to its application in the essential service sectors that include oil and power, water and wastewater, and food and beverages.
• Though the demand has not been impacted, the manufacturing activities have been impacted during the global lockdown. Manufacturers have complied with government norms and continued production activities with a minimum number of workers.

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Based on application, the oil and power segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the food and beverage segment is estimated to portray the highest CAGR of 4.9% during the forecast period.

The major players operating in the industrial valves industry include AVK Holding A/S, Avcon Controls Private Limited, Schlumberger Limited, Crane Co., Emerson Electric Co., Flowserve Corporation, Forbes Marshall, IMI plc, Metso Corporation, and The Weir Group plc.

The oil & gas industry mainly includes downstream, midstream, and upstream applications and require industrial valves on a large scale. In addition, major countries in Europe and Asia-Pacific are now switching toward clean power sources, which has created a large demand for valves during infrastructural up gradation processes.

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