Press release
Industrial Valves Market is expected to grow at a CAGR of 6.31 % from 2023-2030 : Cognitive Market Research
Industrial Valves Market is expected to grow at a CAGR of 6.31 % from 2023-2030 : Cognitive Market Research
Industrial valves are electromechanical devices, which are used to regulate the flow and pressure of a liquid, gas, vapor, powder, and slurry in a piping system. Industrial valves are manufactured using carbon steel, cast iron, stainless steel, and other. The valve is a device or natural object that regulates, directs, or controls the flow of a fluid by opening, closing, or partially obstructing various passageways.
Summary:
• The Industrial Valves Market Size Was Valued at USD 65,998.97 Million In 2022 And Is Expected To Grow At A CAGR Of 6.31 % During The Forecast Period, Reaching USD 1,02,472.21 Million By 2030.
• Based on material type, the steel segment has the largest revenue share in the industrial valve market.
• Based on valve type, the globe valve segment has the largest revenue share in the industrial valve market.
• Based on application, the oil & gas segment has the largest revenue share in the industrial valve market.
• Asia-Pacific has the largest revenue share in the industrial valve market.
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Market Dynamics:
Increasing demand for automation in control of industrial valves and investments in the oil and gas industry in North America is the key factor expected to drive the growth of the industrial valve market. Furthermore, advancements in technology are projected to create growth opportunities for the industrial valve market. However, increasing the price of raw materials may hamper the growth of the industrial valve market.
Market Segmentation:
Material type:
• Cast iron
• Steel
• Alloy based
• Others
Based on material type, the steel segment has the largest revenue share in the industrial valve market. This is due to the increasing demand for steel material in the industrial valve market.
Valve type:
• Ball valves
• Butterfly valves
• Gate valves
• Globe valves
• Plug valves
• Check valves
• Diaphragm valves
• Pinch Valves
• Needle Valves
• Others
Based on valve type, the globe valve segment has the largest revenue share in the industrial valve market. This is attributed to globe valve's ideal alternative for applications that do not require high-pressure drops anticipated to drive the growth of this segment.
Application:
• Oil and gas
• Water and wastewater
• Chemical
• Food and beverage
• Power
• Pharmaceutical
• Automotive
• Others
Based on application, the oil & gas segment has the largest revenue share in the industrial valve market. This is due to increasing demand for deeper wells, longer pipelines, and lower production costs along with the technological enhancement of processing, and production drives the growth of the oil & gas segment.
Competitive Analysis for The Industrial Valves Market:
Emerson Electric Co. (US), Schlumberger (US), Flowserve Corporation (US), IMI plc (US), Neles Corporation (Finland), Spirax Sarco Limited (UK), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (US), Bray international (US), CIRCOR International Inc (US)
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Regional Analysis:
Asia-Pacific accounted for the largest share of the industrial valve market
Asia-Pacific has the largest revenue share in the industrial valve market. This is due to increasing urbanization and industrialization in the region.
News:
Oceaneering Rotator has launched a new topside chemical throttle valve
In April 2021, Oceaneering International's Rotator business has launched a new high-performance Topside Chemical Throttle Valve for multiple industries including oil and gas, chemical processing, wastewater treatment, medical, and pharmaceutical.
Source: https://www.oceaneering.com/oceaneering-rotator-unveils-new-topside-chemical-throttle-valve/
Emerson has introduced the industry's first complete SIL 3-certified valve assemblies
In October 2021, Emerson has introduced the first valve assemblies, which meet the design process requirements of Safety Integrity Level (SIL) 3 per the international electrotechnical commission's IEC 61508 standard.
Source: https://www.emerson.com/en-in/news/automation/21-10-fisher-digital-isolation-final-element-solution
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Industrial Valves Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Industrial Valves Market Segmentation
1.5.1 Industrial Valves Market Regional Fragmentation
1.5.1 Industrial Valves Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Industrial Valves Market
• 3.1 Global Industrial Valves Market Size 2018 - 2030, (USD Million)
• 3.2 Global Industrial Valves Market Statistics 2022: Snapshot
Chapter 4 Global Industrial Valves Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Industrial Valves Market by Valves Type Segmentation Analysis (2018-2030)
Chapter 9 Global Industrial Valves Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Industrial Valves Market by Component Segmentation Analysis (2018-2030)
Chapter 11 Global Industrial Valves Market by Material Segmentation Analysis (2018-2030)
Chapter 12 Global Industrial Valves Market by Function Segmentation Analysis (2018-2030)
Chapter 13 Global Industrial Valves Market Regional Analysis
Chapter 14 North America Industrial Valves Market Outlook (2018 - 2030)
Chapter 15 Europe Industrial Valves Market Outlook (2018 - 2030)
Chapter 16 Asia Pacific Industrial Valves Market Outlook (2018 - 2030)
Chapter 17 Latin America Industrial Valves Market Outlook (2018 - 2030)
Chapter 18 Middle East and Africa Industrial Valves Market Outlook (2018 - 2030)
Chapter 19 Research Findings
To know more Industrial Valves Market TOC click here:
https://www.cognitivemarketresearch.com/industrial-valves-market-report#table_of_contents
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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