Press release
Industrial Valves Market Insights, Trends and Huge Business Opportunities 2021 to 2031 | Size, Share, Challenges
Industrial Valves Market
The industrial valves market size was $65 billion in 2021, and is estimated to reach $110.5 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
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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. Various kinds of industrial valves perform various functions such as shut on/off, pressure control, and other regulation purposes.
Industrial valves are electromechanical devices used to regulate the flow and pressure of a liquid, gas, vapor, powder and slurry in a piping system. These valves comprise the body, trim, discs, seats, stem packing, end connectors, sealing rings, bonnet shell, union bolts, yoke and yoke nut, and operators and actuators. They help stop the flow rate through the pipe whenever required, prevent flow return to the pressurized side and protect equipment from overpressure hazards. Different types of industrial valves are presently available in the market based on their sizes, designs, functions and operations.
These valves find extensive applications in the refinery, chemical, pharmaceutical, water & wastewater treatment, food and beverage (F&B), power, and oil & gas sectors worldwide.
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Rapid industrialization across the world has resulted in the increase in industrial valves demand during the last few years. These industrial valves provide an easy and affordable means of controlling flow of materials across major industries.
As the demand for fuel surges, various countries are launching new oil & gas exploration projects. This is anticipated to boost the demand for advanced valve tech. Similarly various water treatment plants are being launched to cater to the rising fresh water demand. Driven by this, the industrial valves market will record high growth in the coming years.
Top Players:
Key companies profiled in the industrial valves market report include AVK Holding, Avcon Controls Pvt Ltd, Schlumberger Limited, Crane, Emerson Electric Co., Flowserve Corp., Forbes Marshall, IMI Plc, Metso Corporation, The Weir Group Plc, EG Valves Manufacturing Co., Ltd., Sirca International S.P.A., Klinger Holding, Böhmer GmbH, Fluidline Valves Co. Pvt Ltd., Anything Flows LLC, Davis Valve and Powell Valves.
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