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Industrial Valves Market Size, Share Analysis, Key Players And Forecast 2033
Industrial Valves Market Size
Industrial Valves Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $129.35 billion In 2028 At A CAGR Of 4.4%.
The industrial valves market size has grown steadily in recent years. It will grow from $103.84 billion in 2023 to $108.99 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to infrastructure development, energy exploration and production, globalization of manufacturing, stringent regulatory standards, replacement and upgradation.
The industrial valves market size is expected to see steady growth in the next few years. It will grow to $129.35 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to focus on environmental sustainability, water management initiatives, renewable energy projects, resilience in supply chains, customization and specialization, global economic recovery. Major trends in the forecast period include smart valve technologies, rise of industrial internet of things, focus on energy efficiency, increased automation in manufacturing, expansion in oil and gas exploration, advanced materials and manufacturing techniques.
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Industrial Valves Market Major Segments
The industrial valves market covered in this report is segmented -
1) By Valves: Ball Valves, Check Valves, Butterfly Valves, Plug Valves, Globe Valves, Gate Valves, Diaphagm Valves, Safety Valves
2) By Function: Isolation, Regulation, Safety Relief Valve, Special Purpose, Non-Return
3) By Material: Ductile Iron, Carbon Steel, Plastic, Brass, Bronze, Copper, Aluminium, Others Materials
4) By Accessories: Hydraulic Filter, Power Cable, Mounting Screw and Bolts, Seal Kits, Dust Protection Cover, Others Accessories
5) By End-User: Chemicals, Engery And Power, Oil And Gas, Water And WeastWater Treatment, Building And Constructions, Paper And Pulp, Metal And Mining, Agriculture, Semiconductor, Other End Users
Key Driver - Surging Oil And Gas Explorations Drives The Industrial Valve Market
The rising number of oil and gas explorations is expected to propel the growth of the industrial valve market going forward. Oil and gas exploration refers to the procedures and techniques used to identify potential locations for drilling and extracting oil and gas. Industrial valves control the flow of oil and gas and manage the fluid flow by regulating the direction and controlling pressure. For instance, in December 2022, according to the U.S. Energy Information Administration, a US-based government agency, In the US, oil production increased to 11.6 million barrels per day in 2021. Furthermore, gas production increased to 118.7 million barrels per day in 2021. Therefore, the rising number of oil and gas explorations is driving the growth of the industrial valve market.
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Prominent Trend - Transformative Product Developments In The Industrial Valve Market
Product innovation is a key trend gaining popularity in the industrial valve markets. Major companies operating in the industrial valve are focused on developing innovative solutions to strengthen their position in the market. For instance, in December 2022, Emerson Electric Co., a US-based manufacturing company, introduced two new technological products called the Crosby J-Series pressure relief valves. The initial variant is a balance diaphragm valve, which minimizes the need for bellows in pressure-reducing valves while ensuring balanced operation against back pressure, lowering ownership costs and improving performance. The second technology is bellows leak detection, which allows for remote detection of bellows ruptures in pressure-reduction valves while simultaneously lowering and precisely calculating volumetric emissions.
Industrial Valves Market Players
Major companies operating in the industrial valves market report are Emerson Electric Co., The Flowserve Corporation, Schlumberger Limited, Crane Holdings Co., KITZ Corporation, AVK Holdings A/S, Forbes Marshall Pvt Ltd., KSB SE & Co. KGaA, Spirax-Sarco Engineering PLC, Metso Outotec Corporation, KLINGER Holding, Alfa Laval AB, Curtiss-Wright Corporation, Honeywell International Inc., Velan Inc., Neway Valve, Samson AG, Neles Oyj, AVCON Controls Pvt. Ltd., Sirca International S.p.A., Fluidline Valves Co. Pvt. Ltd., Davis Valve, Powell Valves, Virgo Engineers Inc., WALWORTH, IMI PLC, Valvitalia SpA, Zhejiang Dunan Valve Co. Ltd., Pentair Valves and Controls, OKANO Valve Mfg. Co. Ltd., Tyco Valves and Controls, Swagelok Company.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the industrial valves market in 2023. The regions covered in the industrial valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Valves Market Report Structure
3. Industrial Valves Market Trends And Strategies
4. Industrial Valves Market - Macro Economic Scenario
5. Industrial Valves Market Size And Growth
…..
27. Industrial Valves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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