Flowing Towards Success: Global Industrial Valve Market Set to Surpass US$ 96.2 Billion by 2029

In a world where precision and control are paramount, the global industrial valve market is a powerhouse, projected to surge beyond its current worth of US$ 71.8 billion in 2022. The driving force behind this growth is the ever-increasing adoption of industrial valves, which serve as the indispensable guardians of fluid and material flow in various sectors.

With a promising compound annual growth rate (CAGR) of 4.3% expected between 2022 and 2029, this dynamic market is poised to reach an impressive valuation of US$ 96.2 billion by the end of the decade. Such growth underscores the critical role industrial valves play in managing the delicate balance of material movement across industries.

Amidst the wide array of materials used in crafting these essential devices, steel emerges as the undisputed champion. Steel industrial valves continue to reign supreme, capturing the hearts of countless industries for several compelling reasons. Their enduring popularity is primarily attributed to two key factors: durability and corrosion resistance.

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With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. Furthermore, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. A number of manufacturers are however focusing on investments in globe industrial valves. FMI's research also highlights visibly growing market attractiveness of butterfly valves across industries.

The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

- Market in APEJ Projected for Remunerative Growth:

The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2022-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.

Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. Consequently, the region's chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.

- Industrial Valves Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.

The global industrial valves market is significantly consolidated with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

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- Industrial Valves Market: Segment Analysis

By Valve Type:
Gate
Parallel
Wedge

Globe
Tee
Angle
Wye

Ball
Trunnion
Floating
Threaded Series

Butterfly
High Performance
Lined

Plug
Lined
Lubricated
Non-Lubricated

Check
Dual Plate
Piston Lift
Spring Loaded Disk
Swing Check
Tilting Check
Y Pattern
T Pattern

Safety Relief
Spring Loaded
Pilot Operated

Other Customized

By Valve Material:
Cast Steel
Carbon Steel
Stainless Steel
Bronze
Other Alloys

By End-use Industry:
Oil & Gas
Chemical
Water & Wastewater Treatment
Power Plants
Paper & Pulp
Others

By Function:
Manual
Automatic

By Region:
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan
Middle East and Africa
Japan

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.