Press release
Industrial Valves Market Size, Share, Growth & Industry Outlook | 2032
Industrial Valves Market
According to the report by Expert Market Research (EMR), the global industrial valves market size was approximately USD 77.13 billion in 2023. Aided by the increased demand for automation and digitalization across industries, the market is further projected to grow at a CAGR of 4.6% between 2024 and 2032, to reach around USD 115.95 billion by 2032.
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The global industrial valves market is an integral part of various critical industries, including oil and gas, water and wastewater, energy and power, and manufacturing, due to its essential role in controlling the flow and pressure of liquids and gases within systems. Industrial valves are mechanical devices that can control, direct, or regulate the flow of various substances by opening, closing, or partially obstructing various passageways. These valves come in many forms, including gate valves, globe valves, butterfly valves, ball valves, and check valves, each tailored to specific functions and operational conditions.
One of the foremost industrial valves market trends is the increased demand for automation and digitalization across industries. With the rise of Industry 4.0, there is a growing inclination towards smart valves that incorporate sensors and connectivity technology to enable real-time data monitoring, performance analysis, and remote control. This shift not only enhances operational efficiency and safety but also facilitates predictive maintenance, thereby reducing downtime and extending the lifespan of the equipment.
Another significant trend aiding the industrial valves market growth is the stringent environmental regulations which are prompting industries to adopt more advanced valve technologies that minimize leakage and reduce emissions. For instance, in the oil and gas industry, regulations demanding lower VOC (Volatile Organic Compounds) emissions drive the adoption of valves that ensure better sealing capabilities and durability under harsh conditions. This regulatory pressure is catalyzing the development of next-generation valves that can withstand extreme temperatures and pressures while providing superior performance.
The push for energy efficiency is also a key factor influencing the industrial valves market share. Energy-intensive industries are seeking innovative valve designs that optimize flow control to reduce energy consumption and operational costs. For example, valves that offer better throttling accuracy can significantly decrease energy usage in systems where flow control is critical to the operational efficiency, such as in water filtration plants or chemical processing facilities.
Moreover, the rise of emerging markets in Asia-Pacific and the Middle East is providing a substantial opportunity for the industrial valves market development. These regions are seeing extensive infrastructural developments and industrialization efforts, particularly in water and wastewater treatment, energy, and manufacturing sectors. The increasing urbanization and industrial activities are driving the demand for robust valve solutions that can meet the rigorous requirements of modern industrial systems.
However, the industrial valves market value can be impacted due to several challenges, primarily related to the supply chain and logistic operations. The recent global disruptions, including the COVID-19 pandemic, have highlighted the vulnerabilities in global supply chains and prompted companies to rethink their supply chain strategies. Many are now focusing on supply chain diversification and regional manufacturing to mitigate future disruptions and ensure continuous supply to key industries.
Competition within the industrial valves market is fierce, with numerous players from around the world. Advanced materials, new manufacturing techniques, and enhanced design features are continually being explored to develop valves that provide superior performance, reliability, and cost-efficiency.
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Industrial Valves Market Segmentation
The global industrial valves market can be divided based on material type, valve type, application, and region.
Market Breakup by Material Type
Cast Iron
Steel
Alloy Based
Market Breakup by Valve Type
Ball Valves
Butterfly Valves
Gate Valves
Globe Valves
Check Valves
Others
Market Breakup by Application
Oil and Gas
Water and Wastewater
Chemical
Food and Beverage
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial valves market. Some of the major players explored in the report by Expert Market Research are as follows:
Schlumberger Limited
Emerson Electric Co.
AVK Holding A/S
The Weir Group plc
Metso Corporation
The Flowserve Corporation
Crane Co.
Avcon Controls Pvt. Ltd.
Forbes Marshall Pvt. Ltd.
IMI plc
Others
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