Industrial valves control, regulate, and direct the flow of fluids within various industrial processes. Serving as essential components in pipelines, manufacturing equipment, and machinery, industrial valves ensure precise control over the movement of liquids, gases, and slurries. It contributes to the efficiency and safety of operations in diverse sectors such as oil and gas, water treatment, power generation, chemical processing, and manufacturing. Industrial valves help manage pressure, temperature, and flow rates, enabling optimal functioning of systems and processes.
According to Data Bridge Market Research analyses the Global Industrial Valves Market was valued at USD 73.50 billion in 2021 and is expected to reach USD 101.06 billion by 2029, registering a CAGR of 4.06% during the forecast period of 2022-2029.
"Rise in infrastructure-related developments boosts the market growth"
The growth of the industrial valves market is significantly propelled by the surge in infrastructure-related developments. The increasing number of infrastructure projects, coupled with a rise in private participation in infrastructure (PPI), is a key driver generating heightened demand for industrial valves. As governments and private entities invest extensively in construction and development ventures, industrial valves play a crucial role in regulating fluid flow within diverse applications, such as water supply networks, sewage treatment plants, and various industrial facilities. This growing demand underscores the essential contribution of industrial valves to the success and efficiency of infrastructure projects globally.
What restraints the growth of the global industrial valves market?
“Lack of standardized policies with the market growth”
The lack of standardized policies in the industrial valves market poses a significant restraint, hindering uniformity and consistency across the industry. The absence of standardized regulations can lead to variations in quality, safety standards, and performance criteria for industrial valves. This lack of uniformity may result in challenges for manufacturers, end-users, and regulatory bodies, impacting the interoperability of valves and posing potential risks to industrial processes.
Segmentation: Global Industrial Valves Market
The global industrial valves market is segmented on the basis of type, function, material, accessories, size, and application.
- On the basis of type, the global industrial valves market is segmented into gate valve, globe valve, ball valve, butterfly valve, diaphragm valve, check valve, plug valve, pinch valve, needle valve, pressure relief valve, and others
- On the basis of function, the global industrial valves market is segmented into isolation, regulation, safety relief valve, special purpose and non-return
- On the basis of material, the global industrial valves market is segmented into ductile iron, carbon steel, plastic, brass, bronze, copper, aluminium and others
- On the basis of accessories, the global industrial valves market is segmented into hydraulic filter, power cable, mounting screw and bolts, seal kits, dust protection cover, and others
- On the basis of size, the global industrial valves market is segmented into 1 inch to 6 inch, 6 inch to 12 inch, 12 inch to 24 inch, 24 inch to 48 inch and above 48 inch
- On the basis of application, the global industrial valves market is segmented into oil and gas, water and waste treatment, chemical, energy and utilities, food and beverages, pharmaceutical, agriculture, marine, automotive, metals and mining, paper and pulp and other
Regional Insights: Asia-Pacific dominates the Global Industrial Valves Market
The Asia-Pacific (APAC) dominates the industrial valves market, primarily propelled by rapid urbanization and industrialization. The surge in urban development projects, coupled with the region's status as a global manufacturing and industrial hub, fuels a substantial demand for industrial valves. APAC's expanding energy sector, infrastructure development initiatives, and growing manufacturing base contribute to the pervasive use of industrial valves across various industries such as oil and gas, power generation, and manufacturing. Additionally, technological advancements, including the adoption of smart valves and automation systems, further enhance the efficiency of industrial processes.
The North America is expected to experience significant growth from 2022 to 2029 due to the presence of major biopharmaceutical firms, cutting-edge research and development capabilities, technological advancements, a supportive regulatory environment, ample access to capital, and a robust healthcare infrastructure. North America's leadership in biotechnology, coupled with strategic collaborations and partnerships, further accelerates innovation and product development.
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Recent Developments in the Global Industrial Valves Market
- In September 2021, KITZ Corporation announced the acquisition of common shares of TOA Valve Engineering Inc. (Japan). This strategic move involved the signing of a capital and business alliance agreement, fostering collaboration to elevate the corporate value of both entities. The partnership facilitates the mutual exchange of technologies, strengths, and strategic insights related to valves, contributing to the expansion of their respective businesses. Through this alliance, KITZ Corporation and TOA Valve Engineering Inc. aim to leverage synergies for shared growth and innovation in the valve industry
The Prominent Key Players Operating in the Global Industrial Valves Market Include:
- Emerson Electric Co. (U.S.)
- Schlumberger Limited. (U.S.)
- Flowserve Corporation (U.S.)
- IMI (India)
- Metso Corporation (Finland)
- GE VALVE (India)
- Curtiss-Wright Corporation (U.S.)
- Crane Co. (U.S.)
- Neway valve. (China)
- McWane, Inc. (U.S.)
- ALFA LAVAL (Sweden)
- Rotork (U.K.)
- KITZ Corporation (Japan)
- KSB SE & Co. KGaA (Germany)
- Velan Inc. (Canada)
- Honeywell. (U.S.)
- Spirax-Sarco Engineering plc (U.K.)
- SAMSON AG (Germany)
- Forbes Marshall (India)
- Swagelok Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global industrial valves market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Industrial Valves Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
