The Increasing Geriatric Population Drive the Demand for Industrial Valves Market

 

Valves are an important part of any pipeline system, mainly in the oil and gas industry. Valves help to control the flow of material from equipment and machinery. This makes them essential to numerous different types of applications and functions. In the oil and gas industries, valves have to deal with viscous materials and corrosive paper, liquids, and gases which is projected to increase the growth of the global industrial valves market in the near future.

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Data Bridge Market Research analyses that the industrial valves market expected to reach USD 1, 04,129.06 million by 2027 from USD 67,183.98 million in 2019, growing with the CAGR of 5.7% in the forecast period of 2020 to 2027. The increasing need to establish new nuclear power plants and the rising requirement for connected networks to monitor and maintain industrial equipment are likely to boost the growth of the global industrial valves market.

Industrial valves

Rising demand for industrial valves from pharmaceuticals and healthcare industries is expected to drive the market's growth rate

Industrial valves play a vital role in the manufacturing of different and several types of medical devices. Numerous major market players have grabbed the opportunity to fight against this pandemic. For instance, Emerson's valves can manage pressure relief, keeping materials and components clean in oxygen therapy devices and sterilizers, and support analyzers and other important hematology equipment. Moreover, the new generation of hospital beds have air bladders which are designed to increase patient comfort. Emerson also makes valves for these air beds. With the increasing requirement for hospital beds, the Emerson's valves are being adopted widely by the manufacturers of hospital beds. Therefore, the increasing demand for industrial valves from pharmaceuticals and healthcare industries will likely boost the market's growth rate.

 Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2020 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2012 - 2017)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Gate Valve, Globe Valve, Ball Valve, Butterfly Valve, Diaphragm Valve, Check Valve, Plug Valve, Pinch Valve, Needle Valve, Pressure Relief Valve and Others), Function (Isolation, Regulation, Safety Relief Valve, Special Purpose and Non-Return), Material (Ductile Iron, Carbon Steel, Plastic, Brass, Bronze, Copper, Aluminium and Others), Accessories (Hydraulic Filter, Power Cable, Mounting Screw and Bolts, Seal Kits, Dust Protection Cover and Others), Size (1 Inch to 6 Inch, 6 Inch to 12 Inch, 12 Inch to 24 Inch, 24 Inch to 48 Inch and Above 48 Inch), Application (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 Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

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), and Swagelok Company (U.S.), among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

 

Segment Analysis:

The industrial valves market is segmented on the basis of type, function, material, accessories, size and application.

  • On the basis of type, the 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.

In 2020, the gate valve segment type segment is anticipated to dominate the industrial valves market

Gate valve is expected to dominate the market with a 21.7% market share because these are extremely suitable for all the above ground and underground installation. The main advantage of these valves is that it is an energy-efficient option because it consumes less power while opening or closing. This is due to the movement of these valves lies perpendicular to the media flow direction. Therefore, as compared to globe valves, the gate valves save both time and energy.

  • On the basis of function, the market is segmented into isolation, regulation, safety relief valve, special purpose, non-return. In 2020, isolation is expected to dominate the market with 29.7% market share because these valves are extensively suitable for both industrial and commercial applications.
  • On the basis of material, the market is segmented into ductile iron, carbon steel, plastic, brass, bronze, copper, aluminum and others. In 2020, ductile iron is expected to dominate the market with 27.5% market share.
  • On the basis of accessories, the market is segmented into hydraulic filter, power cable, mounting screw & bolts, seal kits, dust protection cover and others. In 2020, hydraulic filter is expected to dominate the market with 24.2% market share because the hydraulic filter accessories are highly used in the industrial applications.
  • On the basis of size, the 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. In 2020, 1 inch to 6 inch segment is expected to dominate the market with 27.5% market share because  these sizes of valves are used in extensive range of application such as food and beverages, chemical, water and waste industries among others applications
  • On the basis of application, the market is segmented into oil & gas, water & waste treatment, chemical, energy & utilities, food & beverages, pharmaceutical, agriculture, marine, automotive, metals & mining, paper & pulp and others.

In 2020, the oil and gas segment of application segment is anticipated to dominate the industrial valves market

Oil & gas segment is expected to dominate the market with 20.1% market share because this sector require valves for protect equipment, controlling flow rates, and direct and guide the refining process of crude oil. Apart from this, the rising production of oil and gas fuel has augmented the demand of the industrial valves.

Major Players

Data Bridge Market Research recognizes the following companies as the major industrial valves market players in industrial valves market 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).

Industrial valves

Market Development

  • In September’2021, KITZ Corporation revealed the news regarding their acquisition of TOA Valve Engineering Inc. (Japan). They signed a contract of capital and business alliance which helps both companies improve their corporate value. This also aids in their businesses' growth by sharing technologies, strategies and strengths associated with valves.
  • In January 2021, Flowserve Corporation launched a new IoT service suite named RedRaven for remote monitoring of facilities. RedRaven advanced IoT condition monitoring which helps to address problems before failures.
  • In January 2020, Emerson Electric Co. Company launched new ASCO Series 353 Pulse Valve. This new pulse valve has a wider temperature range, patented fast mount clamp link, higher overall pressure, and simplification of the overall component. This series provides less maintenance and longer bag and filter life. Through this launch company delivered enhances solution to increase product portfolio which helped to upsurge the consumer base.

Regional Analysis

Geographically, the countries covered in the industrial valves market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in industrial valves market during the forecast period 2019 - 2027

North America dominates the industrial valves market due to the accessibility to technologically advanced products and presence of major biopharmaceutical firms in this region. Furthermore, the increasing demand for safety applications and growing R&D activities pertaining to the use of actuators in the valves for automation are another major factor that will further likely toanother major factor that will further likely drive the market growth in this region.

Asia-Pacific is estimated to be the fastest growing region in industrial valves market the forecast period 2019 - 2027

Asia-Pacific is expected to grow during the forecast period of 2019-2027 due to the rapid industrialization and urbanization within the region. Moreover, the growing need for proper utilization of water and the rising demand for advanced water and wastewater treatment techniques will further increase the growth of the industrial valves market.

COVID-19 Impact Analysis

The outbreak of COVID-19 had a negative impact on the industrial valves market due to social distancing and strict lockdowns to contain the spread of the virus. The partial shutdown of the business, economic uncertainty and low consumer confidence have impacted the growth of the industrial valves market. The supply chain got hindered and delayed in logistics activities during this pandemic. However, the industrial valves market is anticipated to recover its pace during the post pandemic scenario owing to the easing on the restrictions.

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