Press release
Industrial Valves Market Maximizing Productivity and Precision To Reach $110.5 bn by 2031
Industrial Valves Market
Industrial valves play a pivotal role in various manufacturing industries worldwide, serving as essential components in process industries for tasks such as regulation, direction, and control of slurries, vapors, gases, and liquids. Renowned for their efficiency in flow control, these valves are extensively utilized across diverse sectors, including oil and gas, food and beverages, energy and utilities, as well as water and waste treatment.
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The growth of the industrial valves industry is propelled by several key factors. The healthcare and pharmaceutical industries' increasing demand for valves, the global establishment of smart cities, and the rapid deployment of connected networks for monitoring valve conditions and predicting system failures are among the primary drivers. As industries continue to evolve and integrate technology, the reliance on industrial valves for precise control and management becomes increasingly evident.
Ensuring operational safety and enhancing productivity are paramount concerns for plant operators. The demand for remote condition monitoring is on the rise across various end-user industries globally. This surge is driven by the need to reduce unplanned downtime, enhance workplace safety, and significantly lower maintenance and repair costs. Recognizing this trend, many valve manufacturers have responded by offering end-user industries comprehensive condition monitoring solutions.
In this dynamic landscape, the industrial valves industry not only meets the fundamental requirements of flow control but also aligns with the evolving needs of modern industries. As technology continues to advance, the integration of intelligent monitoring systems and condition-based maintenance solutions is becoming integral, enhancing operational efficiency and contributing to the overall growth and development of industrial processes.
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Recent technological developments have made it possible for businesses to use cutting-edge tools like artificial intelligence (AI) and the Internet of Things (IIoT) technology to reduce unplanned downtime and other adverse situations caused by valve failures.
These valve technologies enable professionals to remotely check on the functionality and state of industrial valves. Industries are implementing sensor-equipped valves to minimize failure rates and overall maintenance costs as a result of increased industrialization. Over the projection period, it is anticipated that adoption of these cutting-edge values would strengthen the market.
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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Key Findings of The Study
• The report provides an extensive analysis of the current and emerging global industrial valves market analysis and dynamics.
• Depending on material type, the steel segment was the largest revenue generator in 2021.
• By valve type, the globe valves segment generated the highest revenue in 2021.
• On the basis of application, the oil & power segment dominated the market in 2021.
• Region wise, Asia-Pacific is anticipated to dominate the global industrial valves market throughout the study period.
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