The Industrial Valve Market, an essential part of the more extensive assembling and handling industry, is impacted by different market factors that shape its elements. One critical component is innovative advances. As innovation keeps on developing, industrial valves are turning out to be more refined, effective, and versatile. The incorporation of smart advancements, like sensors and computerization, has worked on the general execution and observing capacities of industrial valves, driving market development. Administrative principles and consistence necessities further shape the market as makers endeavor to meet and surpass these determinations.
The market for industrial valves is significantly impacted by the energy industry, particularly by oil and gas. Variations in oil prices, global events, and the need for energy globally have a direct impact on interest in research and development projects. Therefore, these factors affect the need for valves used in capacity, handling, and transportation of oil and gas. Additionally, as more and more environmentally friendly power sources are used, valve manufacturers will face both new opportunities and challenges since different kinds of valves are needed in sustainable power applications.
The industry players' competition and market consolidation also have an impact on the industrial valve market. The competitive landscape can be altered by mergers, acquisitions, and significant partnerships, which may result in adjustments to pricing strategies and market offers. Additionally, product differentiation and development are essential for businesses to maintain their competitive advantage. The ability to provide valves with outstanding features, improved performance, and economic viability is essential for fostering development.
Urbanization and improved foundations are two major factors propelling the industrial valve market. There is a growing need for valves in power plants, water supply systems, and development projects as countries invest in establishing and renovating infrastructure. The increasing requirement for water and wastewater treatment due to urbanization trends is fueling the need for valves in urban and industrial settings. Economic agreements, international factors, and sent out import components can affect supply chains, processes, and market access, among other aspects of the market.
Report Attribute/Metric | Details |
---|---|
Market Size Value In 2023 | USD 71834.5 Million |
Growth Rate | 4.67% (2024-2032) |
Industrial Valve Market Size was valued at USD 71,834.5 Million in 2023. The Industrial Valve Market industry is projected to grow from USD 74,810.9 Million in 2024 to USD 1,08,385.7 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.68% during the forecast period (2024 - 2032).
Industrial valves are critical factors in fluid handling systems as they are specifically engineered to regulate, direct, and control the passage of gases, liquids, and slurries through pipelines. In numerous sectors—including manufacturing, chemical processing, water treatment, power generation, and oil and gas—these valves are indispensable. Their versatility in ensuring the efficient operation of various systems is exemplified by the fact that their applications vary from managing the movement of chemicals in industrial processes to controlling the flow of water in municipal treatment plants.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for industrial valves is undergoing substantial expansion, driven by an upsurge in demand from a wide range of applied sectors. These critical factors are of the utmost importance in controlling the circulation of liquids, gases, and slurries within a system, thereby guaranteeing effective functioning in a wide range of applications. Increasing demand from end-use sectors, including water and wastewater treatment, manufacturing, chemicals, oil and gas, and power generation, is a significant factor propelling the growth of the industrial valves market.
Increasing exploration and production activities in the oil and gas industry necessitate the use of sophisticated valve systems to regulate the flow of hydrocarbons. In a similar vein, industrial valves play a critical role in regulating the flow of chemicals and water during the water and wastewater treatment process. The power generation industry is a substantial contributor to the increasing need for industrial valves, as these parts are essential for regulating steam and other fluids within power facilities.
The industrial valves market is currently experiencing a significant period of change, driven primarily by the extensive implementation of automation technologies in diverse sectors. Automation has become a fundamental component in the effort to optimize processes, decrease the need for manual intervention, and increase operational efficiency. Automation is a significant catalyst for market expansion in the realm of industrial valves, as an expanding number of industries acknowledge the advantages offered by automated valve systems.
The integration of sophisticated control systems, sensors, and communication technologies into industrial valve automation yields enhanced levels of accuracy, dependability, and agility. Real-time monitoring and control are made possible by this integration, which expedites adjustments in response to fluctuating operational parameters. The increasing need for such automated solutions is anticipated to have a substantial effect on the market for industrial valves.
The significant upswing in the industrial valves market is largely attributable to the worldwide increase in infrastructure development projects. Significant global investments are being made in sectors including construction, energy, and water management, which are fundamental to economic expansion. The current upswing in infrastructure projects is significantly contributing to the increased need for industrial valves, which are essential components for controlling and regulating the passage of gases and fluids within infrastructure systems.
A significant factor contributing to the surge in industrial valve demand is the exponential growth of urban areas. The development of energy infrastructure and water supply and effluent management systems becomes increasingly imperative in response to the expansion of urban areas. Due to their capability of controlling the passage of gas, liquids, and water, industrial valves are indispensable for the effective operation of these vital systems.
The Industrial Valve Market is segmented by Valve into, Ball Valves, Butterfly Valves, Check Valves, Pinch Valves, Plug Valves, Globe Valves, Gate Valves, and Others. Among these, Gate Valves are expected to dominate market revenue throughout the forecast period. Gate Valves are anticipated to be favored due to their ability to provide a full, unobstructed flow path and effectiveness in on-off applications. Known for their durability, resistance to high pressures, and capacity to handle large fluid volumes, Gate Valves are projected to be crucial in industries such as oil and gas, water and wastewater management, and power generation, boosting their importance in applications requiring reliable and efficient flow control.
The Industrial Valve Market is segmented by materials, including Stainless Steel, Cast Iron, Alloy-based, Cryogenic, and others. Stainless Steel is anticipated to dominate market revenue throughout the forecast period, driven by its exceptional corrosion resistance, high strength, and durability. This material is expected to be particularly favored in harsh environments and high-pressure systems.
The use of Stainless Steel valves is projected to grow, especially in industries such as oil and gas, chemical processing, water treatment, and pharmaceuticals, where their ability to withstand extreme conditions and maintain long-term performance is highly valued, thereby boosting market demand.
The Industrial Valve Market is segmented by end use into categories such as Oil & Gas, Construction, Energy & Power, Chemicals, Food & Beverages, Water and Wastewater Treatment, Mining, Cement, Agriculture, Refining and Petrochemicals, Pulp & Paper, and others. The Oil & Gas segment is anticipated to dominate market revenue throughout the projected period. This dominance is expected due to the sector's critical need for industrial valves in functions like flow control, pressure regulation, and safety assurance across extraction, transportation, and refining processes. The demand is further boosted by ongoing exploration and production activities, infrastructure development, and the need for efficient fluid management solutions.
The Industrial Valve Market is segmented by size into Less than 1”, 1” to 25”, 25” to 50”, and 50” and above. The 1” to 25” segment is expected to dominate the market revenue throughout the projected period. This size range is widely used across industries such as oil & gas, energy & power, chemicals, and water treatment, due to its versatility in managing fluid flow and pressure. The anticipated growth of the 1” to 25” segment is driven by its balance of capacity and manageability, making it ideal for both industrial processes and infrastructure projects, thus boosting its popularity in the market.
The Industrial Valve Market, segmented by region, includes North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The Asia-Pacific region currently holds the largest market share and is projected to account for significant revenue during the forecast period. This rapid growth is driven by the expanding oil & gas, energy & power, and water and wastewater treatment equipment industries in Asia-Pacific.
The increasing demand for industrial valves is anticipated to be boosted by significant infrastructure development, a booming industrial sector, and substantial investments in oil and gas exploration. Additionally, the region's focus on improving water management and environmental sustainability is expected to further drive the adoption of industrial valves.
Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the Industrial Valve Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.
The Industrial Valve Market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the Industrial Valve Market are Emerson Electric Co, SLB, IMI PLC, Flowserve Corporation, Trillium Flow Technologies, Crane Company, Walworth, AVK Holding A/S, Kitz Corporation, Arflu SA. To increase their global reach and client base, key firms are concentrating on partnership and product innovation.
SLB: SLB, previously referred to as Schlumberger, is a worldwide frontrunner in energy sector technology. Since its founding in 1926, the company has changed from being a leader in oilfield services to a multifaceted supplier of solutions for the whole energy sector. SLB is actively exploring alternative energy sources, including geothermal and carbon capture and storage, even though it is still a key player in the exploration, production, and processing of oil and gas. Their emphasis on decarbonization places them at the forefront of the energy transition and is consistent with international climate goals.
SLB has state-of-the-art technologies in digital solutions, data analytics, drilling automation, and reservoir characterization. They are able to reduce their environmental effect, increase efficiency, and maximize energy production as a result. SLB is a genuinely global firm, with operations in over 100 countries and a staff that almost doubles that number. This enables them to work with a variety of partners and adjust to local requirements while keeping their shared vision. They are actively lessening their environmental impact and creating products to support their clients in doing the same. This commitment covers social responsibility and community involvement in addition to carbon reduction.
Emerson Electric Co: Emerson Electric Co., founded in 1890, is a prominent technology enterprise on an international scale. Originally established as a local producer of electric motors and fans, the company is now a diverse provider of technological solutions for the commercial, industrial, and residential markets. It was founded in St. Louis, Missouri. Emerson offers a wide range of products, including electrical distribution equipment, industrial valves and equipment, process control software and systems, measurement and analytical instrumentation, and much more. They also provide a variety of services, such as automation, training, modernization and migration, and post-project support. Emerson is a reliable partner for businesses in a variety of industries because of their emphasis on innovation and teamwork.
Their extensive industry knowledge and global reach enable them to create all-encompassing solutions that tackle the difficulties of the unprtoday's unpredictable and complex marketsiness sells its goods under several well-known brands, such as RIDGID, Emerson, Grind2Energy, InSinkErator, Badger, and ProTeam. These brands are well-known for their effectiveness, dependability, and quality. With operations in North America, AsiaPacific, Europe, Latin America, the Middle East, and Africa, Emerson has a vast worldwide reach. They are able to stay ahead of the curve in emerging areas and provide global client service as a result.
June 2023: The Valtek® ValdiskTM high-performance butterfly valve from Flowserve Corporation, a top supplier of flow control goods and services to the world's infrastructure sectors, has received licensor approval to be used in pressure swing adsorption (PSA) applications.
March 2023: SLB and Newmans Valve are collaborating in North and South America to improve consumer access to NEWCO globe, gate, and check valves. With an emphasis on providing these valves for projects and maintenance, repair, and operations (MRO) in a reasonable manner, Newmans will oversee the marketing, quoting, customer support, and order fulfilment for NEWCO valves. Western Hemisphere clients will profit from Newmans Valve's dedicated stocking inventory and laser-like attention to the NEWCO valve market.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)