Industrial Valves Market

Industrial Valve Market size reached USD 68.5 billion in 2022 and is estimated to reach USD 98.9 billion in 2030 and the market is estimated to grow at a CAGR of 4.7% from 2023-2030 attributed to growing need for connected networks, increasing demand for valves from power sector and development of smart cities.

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Major Industrial Valves Market Drivers

Global industrial valves market is primarily driven by growing need for setting new nuclear power plants, rising demand for connected networks to monitor industrial equipment and increasing population growth rates. Rising population growth rates and increasing urbanization around the world is putting more pressure on governments to supply basic amenities such as fresh water supply and gas in every household. As a result, governments in various countries have increased their expenditure on setting-up new water treatment plants and new pipeline projects for supply gas in residential and non-residential buildings. For instance, the Indian government is planning to spend USD 60 billion during 2020 to 2024 to create new gas pipelines and LNG terminals in the country. Through such investments government is planning to increase country’s regasification capacity to more than 61 million metric tons by adding 17000 km gas pipeline. Industrial valves are increasing used in these projects to control gas flow across gas distribution systems. As the demand for energy is increasing rapidly, other developing countries are focusing on creating new gas pipelines, which is expected to create lucrative growth opportunities for industrial valve companies to expand their business.

Increasing application of industrial valves in sewage pumping and wastewater treatment plants coupled with advancements in technologies, are expected to have positive impact on global industrial valves market. Advancements in data science and computing power has enabled companies to use Industrial Internet of Things (IIoT) for reducing unplanned downtime which happen if valve fails. Companies are leveraging IIoT to monitor health of valve in plants and track their efficiency of valves to maintain safe working environment. In addition, valve producing companies are required to comply with regional policies in different countries, which adds on diversity in their product portfolio. However, this diversity restricts them to achieve ideal installation cost for their valves. As achieving this cost will require them to invest in more resources for setting up production facility, which in turn, puts additional capital cost. Variations in the prices of raw materials, is negatively impacting the industrial valves market.

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According to industrial valves market research report, Steel segment is projected to dominate the market

Various end-use sectors such as Food and Beverage, Pharmaceuticals and Metals and Mining, are increasing using valves to eliminate the threat of contamination, which is propelling the demand for industrial steels. Furthermore, stainless steel is finding its application in wastewater treatment plants as it can withstand extreme temperature and chemicals due to its corrosion resistance properties. Countries are increasingly focusing on cleaner fuels such as natural gas, which is expected to boost the demand for cryogenic valves.

Based on Valve Type, Globe Valves segment is expected to capture the largest market share

Globe valves are used for controlling flow in pipeline. These valves are gaining traction in different industries as due to its shorter opening and closing time, leaks less as compared to other valves and positive shut-off. Additionally, plug valves are used in isolation applications, such as sludge and sewage cleaning.

Based on Industry Oil & Gas segment is estimated to lead the market attributed to rapid growth in transportation industry.

Increasing number of drilling activities in gulf countries, is one of the major factors pushing the demand for valves in oil and gas sector. Current drilling capacity in Saudi Arabia is estimated to be 12 million b/d, government is planning to increase drilling capacity in Dammam field by 75,000 b/d by 2024 and in various other regions. Rising drilling capacity in the country is expected to increase the demand for valves in Saudi Arabia in forthcoming years.

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As per industrial valves market research, Asia-Pacific region is expected to hold the largest market share

Asia-Pacific industrial valves market is driven by rapid growth in the water and wastewater industry, rising urban population, expanding commercial and residential sector, and increasing industrial activities. Sales of industrial valves in China is projected to increase in coming years due to rising population growth rates, government investments for developing power generation faucitis in the country and rapid industrialization. North American region is forecast to grow at the fastest rate due to rise in the number of research and development initiatives and presence of leading companies such as Schlumberger Limited, and Flowserve Corporation.

Industrial Valve Company

Some of the leading players operating in the industrial valve market are Emerson Electric Co., The Weir Group PLC, Flowserve Corporation, Schlumberger Limited, IMI PLC, Spirax Sarco Limited, Crane Co., KITZ Corporation, Metso Corporation, and Neway Valve, among others.

Key Developments:

• • In November 2022: IMI Saudi Industry, launched a 5,000 m2 facility which is located in Dammam to supply innovative valves and strengthen its strengthen its manufacturing capabilities.
  • In January 2021, Flowserve, a leading manufacturer of flow control products and services introduced its IoT service suite which is designed to help production facilities monitor their assets remotely.
  • In October 2021, Emerson, a provider of engineering services for industrial and commercial markets announced the launch of its first valve assemblies, to meet design process requirements set by International Electrotechnical Commission’s IEC 61508 standard.
  • In September 2020, Ningbo Fuhua Valve company limited, a developer of cylinder valves with its subsidiary SiAN corporation introduced gas valves during IG China 2020.
  • In February 2020, CIRCOR International a leading manufacturer for developing engineered, complex, and severe environment products based out of United States, sold its instrumentation and sampling business to Crane Co. This sale will help CIRCOR to simplify their strategies and focus on their core mission-critical flow control platforms.

Segments Covered in the Report:

The global Industrial Valves market has been segmented on the basis of Material, Valve Type, Size, Industry and key regions. Based on Material, the market is segmented into Steel, Cast Iron, Cryogenic, Alloy Based and Others. Based on Valve Type, the market is segmented into Ball Valves, Butterfly Valves, Check Valves, Diaphragm Valves, Gate Valves, Globe Valves, Plug Valves and Safety Valves. Based on Size, the market is segmented into Up to 1”, 1–6”, 6–25”, 25–50” and 50” & Larger. Based on Industry the market is segmented into Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverages, Pharmaceuticals, Construction, Agriculture, Pulp & Paper, Metals & Mining and Others.

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Market Segmentation:

Global Industrial Valves Market by Material

• • Steel
  • Cast Iron
  • Cryogenic
  • Alloy Based
  • Others
    • Brass
    • Bronze
    • Plastic

Global Industrial Valves Market by Valve Type

• • Ball Valves
  • Butterfly Valves
  • Check Valves
  • Diaphragm Valves
  • Gate Valves
    • Standard Plate Gate Valves
    • Wedge Gate Valves
    • Knife Gate Valves
  • Globe Valves
  • Plug Valves
  • Safety Valves

Global Industrial Valves Market by Size

• • Up to 1”
  • 1–6”
  • 6–25”
  • 25–50”
  • 50” & Larger

Global Industrial Valves Market by Industry

• • Oil & Gas
  • Water & Wastewater Treatment
  • Energy & Power
  • Chemicals
  • Food & Beverages
  • Pharmaceuticals
  • Construction
  • Agriculture
  • Pulp & Paper
  • Metals & Mining
  • Others

Global Industrial Valves Market by Region

• • North America Industrial Valve Market (Option 1: As a part of the free 25% customization)

    • By Material
    • By Valve Type
    • By Size
    • By Industry
    • United States of America (US) Market All-Up
    • Canada Market All-Up

  • Europe Industrial Valve Market (Option 2: As a part of the free 25% customization)

    • By Material
    • By Valve Type
    • By Size
    • By Industry
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Industrial Valve Market (Option 3: As a part of the free 25% customization)

    • By Material
    • By Valve Type
    • By Size
    • By Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Industrial Valve Market (Option 4: As a part of the free 25% customization)

    • By Material
    • By Valve Type
    • By Size
    • By Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Industrial Valve (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Emerson Electric Co.
  • The Weir Group PLC
  • Flowserve Corporation
  • Schlumberger Limited
  • IMI PLC
  • Spirax Sarco Limited
  • Crane Co.
  • KITZ Corporation
  • Metso Corporation
  • Neway Valve