The global industrial valves market is experiencing a positive trajectory, driven by several factors. Additionally, technological advancements, such as the integration of smart valves and IoT-based solutions, are enhancing the efficiency and performance of industrial processes. The market's growth is further supported by infrastructure development projects and a focus on sustainable practices. Overall, the global industrial valves market presents promising opportunities for manufacturers and suppliers in the industry.
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Data Bridge Market Research analyses that the Industrial Valves Market is 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 The global demand for energy, including oil, gas, and electricity, continues to grow. This drives the need for valves in energy production, distribution, and transmission systems. Valves play a critical role in controlling the flow, pressure, and safety of various energy resources.
Key Findings of the Study
Rising energy demand is expected to drive the market's growth rate
The rising global energy demand, fueled by population growth and economic development, has led to increased exploration and production activities in the oil, gas, and renewable energy sectors. These activities require industrial valves for various purposes, including controlling the flow of fluids during extraction, refining processes, and distribution. The demand for industrial valves in these energy sectors is a significant driver of market growth, as they play a crucial role in ensuring efficient and safe operations throughout the energy supply chain.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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.
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Market Players Covered
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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
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Data Points Covered in the Report
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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.
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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. Gate valve is expected to dominate the market with a CAGR of 7.6% in the forecast period of 2022 to 2029 due to their tight seal, which makes them ideal for controlling the flow of various fluids like liquid gases and slurries. They are incredibly durable, have low-pressure drops, and have great shutoff abilities.
In 2022, the gate valve is expected to dominate the type segment of the market
In 2022, the gate valve is expected to dominate the type segment of the market owing to their wide range of benefits and applications. These valves offer a tight seal, making them perfect for regulating and controlling the flow of different fluids, such as liquid gases and slurries. They have low pressure drops, excellent shutoff capabilities, and are extremely durable with a CAGR of 7.6% in the forecast period of 2022 to 2029
- On the basis of function, the market is segmented into isolation, regulation, safety relief valve, and special purpose, non-return. Isolation is expected to dominate the market with a CAGR of 5.9% in the forecast period of 2022 to 2029 due to isolation purposes providing reliable shut-off capabilities, preventing the flow of fluids, and isolating specific sections of pipelines or equipment for maintenance or safety purposes.
- On the basis of material, the market is segmented into ductile iron, carbon steel, plastic, brass, bronze, copper, aluminum, and others. Ductile iron is expected to dominate the market with a CAGR of 6.7% in the forecast period of 2022 to 2029 due to its excellent mechanical properties, such as high strength, durability, and resistance to corrosion. These qualities make it a preferred material for manufacturing robust and reliable valves, particularly in demanding applications within industries such as oil and gas, water treatment, and power generation.
- On the basis of accessories, the market is segmented into hydraulic filter, power cable, mounting screw and bolts, seal kits, dust protection cover, and others. The hydraulic filter is expected to dominate the accessories segment of the market with a CAGR of 7.4% in the forecast period of 2022 to 2029 due to their vital role in maintaining the cleanliness and proper functioning of hydraulic systems. They effectively remove contaminants from hydraulic fluids, ensuring smooth operation and prolonging the lifespan of valves and other hydraulic components.
In 2022, hydraulic filter is expected to dominate the accessories segment of the market
In 2022, hydraulic filter is expected to dominate the accessories segment of the market owing to their crucial function in keeping hydraulic systems clean and in working order. They successfully rid hydraulic fluids of impurities, ensuring a smooth operation and extending the life of valves and other hydraulic parts with a CAGR of 7.4% in the forecast period of 2022 to 2029.
- 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. 1 inch to 6 inch segment is expected to dominate the market with a CAGR of 6.1% in the forecast period of 2022 to 2029 due to versatility and wide applicability across various industries. This size range caters to a broad range of flow requirements, making it suitable for both small-scale and medium-scale industrial applications, contributing to its dominance in the market.
- On the basis of application, the 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 others. The oil and gas segment is expected to dominate the market with a CAGR of 6.1% in the forecast period of 2022 to 2029 due to the due to the industry's extensive use of valves for controlling and regulating the flow of fluids in exploration, production, refining, and distribution processes. The industry's high demand for valves, driven by infrastructure development, exploration activities, and the need for efficient operations, solidifies its dominance in the industrial valves market.
Major Players
Data Bridge Market Research recognizes the following companies as the major player in industrial valves market Neway valve (China), McWane, Inc. (U.S.), ALFA LAVAL (Sweden), Rotork (U.K.), KITZ Corporation (Japan)
Market Development
- In 2021, KITZ Corporation announced that it had acquired the common shares of TOA Valve Engineering Inc. (Japan). They agreed to a capital and business alliance, which helps both businesses increase their overall corporate value.
- In 2020, Emerson Electric Co. which is engaged in providing automated and commercial and residential solutions to various industries launched ASCO Series 158 Gas Valve and Series 159 Motorized Burner Boiler Actuator.
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:
Asia-Pacific is the dominant region in the industrial valves market during the forecast period 2022-2029
Asia-Pacific (APAC) holds dominance in the industrial valve market due to rapid urbanization and industrialization. The region's robust manufacturing sector, infrastructure development projects, and increasing energy demands contribute to the high demand for industrial valves. APAC's growing population and rising disposable incomes further fuel market growth. Additionally, favorable government initiatives and investments in key industries such as oil and gas, water and wastewater management, and power generation drive the expansion of the industrial valves market in the region.
North America is estimated to be the fastest growing region in the industrial valves market for the forecast period 2022-2029
North America is poised for substantial growth in the industrial valves market from 2022 to 2029. The region's strong presence of major biopharmaceutical firms and their increasing investments in research and development drive the demand for industrial valves in this sector. Additionally, North America's access to technologically advanced products, coupled with its focus on adopting automation and innovative solutions, further boosts market growth. The region's emphasis on quality, safety, and regulatory compliance also contributes to its growth potential in the industrial valves market.
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