Press release
Metal Valve Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Parker-Hannifin Corporation, Emerson Electric Co, IMI plc, Atlas Copco AB, The Flowserve Corporation
Metal Valve Market Size
The Business Research Company offers in-depth market insights through Metal Valve Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The metal valves market size has grown strongly in recent years. It will grow from $287.78 billion in 2023 to $304.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrialization, oil and gas industry growth, water and wastewater infrastructure development, energy production, manufacturing sector expansion.
The metal valves market size is expected to see steady growth in the next few years. It will grow to $369.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to green energy transition, smart and iot-enabled valves, water scarcity solutions, environmental regulations, global infrastructure upgrades. Major trends in the forecast period include energy-efficient valves, digital twin technology, valve materials innovation, customization and specialization, remote valve control.
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Market Segmentation:
The main types of metal valve are industrial valves, fluid power valves, and hose fitting, plumbing fixture fitting and trim, and other types. Industrial valves are devices that are used for regulating liquids, gases, and slurries. The flow of liquids or gases is controlled using these valves. This is done through pipes and other passageways by opening, closing, and partially obstructing the passageway or pipe. The products used are pressure-reducing valves, safety/relief valves, control valves, globe valves, plug valves, gate valves, ball valves, butterfly valves, diaphragm valves, and other products. The various end-user industries involved are chemicals, marine, construction, mining, oil & gas, and other end-user industries.
Major Driver - Chemical Industry Expansion Driving Growth In The Metal Valves Market
The growth of the chemical industry is expected to propel the growth of the metal valves market going forward. Metal valves such as butterfly valves, ball valves, gate valves, check valves, globe valves, plug valves, and actuated valves perform an essential role in chemical processing, thereby contributing to the growth of the metal valves market. For instance, according to a report published by the American Chemistry Council (ACC), a US-based industry trade association for American chemical companies, the output of chemicals in the US is strong, and all chemical businesses are expanding. The ACC anticipates that output will increase by 2.4% in 2023, with the amount spent on capital projects increasing by 5.5% in 2023. Thus, the growth of the chemical industry is expected to drive the growth of the metal valves market going forward.
Competitive Landscape:
Major companies operating in the metal valve market include Parker-Hannifin Corporation, Emerson Electric Co, IMI plc, Atlas Copco AB, The Flowserve Corporation, The Crane Company, KITZ Corporation, Metso Oyj, Spectrum Brands Holdings Inc, Globe Union Industrial Corp., Parker Hannifin Corporation, The Weir Group PLC, Cameron International, Rotork plc, Velan Inc., Curtiss-Wright Corporation, Neway Valve (Suzhou) Co. Ltd., Spirax-Sarco Engineering plc, Forum Energy Technologies, CIRCOR International Inc., Apollo Valves (Conbraco Industries), Bonney Forge Corporation, Watts Water Technologies Inc., Dwyer Instruments Inc., Bray International Inc., Leslie Controls Inc., SAMSON Controls Inc., Swagelok Company, Marwin Valve, Sun Hydraulics Corporation, MOGAS Industries Inc., Ayvaz, VAG Group, Nihon KOSO Co. Ltd.
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Top Trend - Cutting-Edge Products And Innovation Drive Transform The Metal Valve Market
Product innovations are the key trend gaining popularity in the metal valve market. Major companies operating in the metal valves sector are focused on introducing new products with innovative technology and features to gain a competitive advantage. For instance, in 2022, Warren Controls, a US-based manufacturer of valves for commercial, industrial, and other industries, launched the industrial control valves Series 2900. These valves have applications in industries such as food and beverages as well as other manufacturing purposes. The distinctive qualities and innovative qualities of these products include a rugged cast iron body and a selection of trim materials, including bronze, 300 stainless steel, 17-4PH stainless steel, and Alloy 6 amongst other materials.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Metal Valve Market Characteristics
3. Metal Valve Market Trends And Strategies
4. Metal Valve Market - Macro Economic Scenario
5. Metal Valve Market Size And Growth
…..
27. Metal Valve Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries
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