Press release
Industrial Valves Market : Key Players, Market Segments, Application Areas, And Market Growth Strategies | 2031
According to a new report published by Allied Market Research, titled, "Industrial Valves Market," The industrial valves market size was $65 billion in 2021, and is estimated to reach $110.5 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.Avail sample report with Industry Insights: www.alliedmarketresearch.com/request-sample/2545
Industrial valves are electromechanical devices used to regulate the flow and pressure of a liquid, gas, vapor, powder and slurry in a piping system. These valves comprise the body, trim, discs, seats, stem packing, end connectors, sealing rings, bonnet shell, union bolts, yoke and yoke nut, and operators and actuators.
They help stop the flow rate through the pipe whenever required, prevent flow return to the pressurized side and protect equipment from overpressure hazards. Different types of industrial valves are presently available in the market based on their sizes, designs, functions and operations.
These valves find extensive applications in the refinery, chemical, pharmaceutical, water & wastewater treatment, food and beverage (F&B), power, and oil & gas sectors worldwide.
Industrial valves are electro-mechanical or mechanical devices used for control of gases, liquid, slurries, and others through pipes and tubes in industries. Various kinds of industrial valves perform various functions such as shut on/off, pressure control, and other regulation purposes.
Rapid industrialization across the world has resulted in the increase in industrial valves demand during the last few years. These industrial valves provide an easy and affordable means of controlling flow of materials across major industries.
As the demand for fuel surges, various countries are launching new oil & gas exploration projects. This is anticipated to boost the demand for advanced valve tech.
Similarly various water treatment plants are being launched to cater to the rising fresh water demand. Driven by this, the industrial valves market will record high growth in the coming years.
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The global market for Industrial valves has been greatly impacted by technological improvements and product developments. Also, increasing adoption of industrial valves in sewage pumping, wastewater treatment plants and several other applications will continue to boost the growth of industrial valves market globally.
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.
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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.
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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