Global Industrial Valves Market Report and Forecast 2024-2032

Global Industrial Valves Market Outlook

The global industrial valves market size reached approximately USD 77.13 billion in 2023. The market is further projected to grow at a CAGR of 4.6% between 2024 and 2032, reaching a value of USD 115.95 billion by 2032.

Key Trends in the Market

Industrial valves refer to mechanical devices that are used for regulating, controlling, and directing the flow and pressure of fluids, gases, or slurries within a system. They partially obstruct the flow which helps in system balancing and are essential components of piping systems. The valves differ in operation, design, and size and are used for a wide range of applications.

• Increasing applications of industrial valves across various sectors including energy, manufacturing, oil and gas, water and wastewater, and chemicals as an essential component is supporting the rapid growth of the market. Moreover, rising infrastructural developments such as water treatment facilities and power generation plants due to increasing population are further boosting the industrial valves market demand.

• Adoption of energy-efficient and eco-friendly industrial valves by global consumers has increased owing to the rising sustainability initiatives and environmental regulations all across the world. The increasing efforts of the key market players towards the development of environment friendly valve materials and designs are expected to support the market expansion over the forecast period.

• New innovations and advancements in valve technologies are anticipated to reduce maintenance costs and also enhance the process control of the technology. Developments such as integration of smart actuators, automation, and sensors with industrial valves are aiding in improving their performance, reliability, and accuracy.

Global Industrial Valves Market Analysis

Based on material type, the market is divided into cast iron, steel, and alloy based. By valve type, the market is classified into ball valves, butterfly valves, gate valves, globe valves, and check valves, among others.

By application, the market is categorised into oil and gas, water and wastewater, chemical, and food and beverage, among others. Based on region, the industrial valves market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Schlumberger Limited

• Emerson Electric Co.

• AVK Holding A/S

• The Weir Group plc

• Metso Corporation

• The Flowserve Corporation

• Crane Co.

• Avcon Controls Pvt. Ltd.

• Forbes Marshall Pvt. Ltd.

• IMI plc

• Others

Market Share by Material Type

Steel accounted for a significant industrial valves market share during the historical period and is expected to grow further over the forecast period owing to the rising demand for steel industrial valves. Steel offers advantageous mechanical properties and good resistance against cracking and corrosion, increasing the popularity of industrial valves obtained from steel among manufacturers. Different steel types offer different advantages such as carbon steel provides both high and low temperature strength, allowing the utilisation of valves obtained from carbon steel in extreme temperature and pressure.

Market Share by Region

The Asia Pacific is anticipated to hold a significant share of the market owing to the increasing urbanisation and rising demand for improved wastewater treatment systems in the region. The deployment of advanced water and wastewater treatment techniques allows the removal of suspended solids, enhancing the water quality and making is suitable for various commercial and residential applications. The integration of industrial valves with internet of things by the pharmaceutical sector in China for optimising a broad spectrum of tasks is expected to boost the industrial valves market growth in the Asia Pacific.

Competitive Landscape

Schlumberger Limited was founded in 1926 and is headquartered in Texas, United States. The oilfield services providing company offers technology for drilling, reservoir characterisation, processing, and production to the oil and gas sector.

Emerson Electric Co. is a multinational company that was founded in 1890 and is headquartered in Missouri, United States. The company is known for providing their customers with engineering products and services for industrial and commercial applications.

AVK Holding A/S was established in 1941 and has its headquarters located in Midtjylland, Denmark. The industrial group produces and markets valves, hydrants, and accessories for water and gas distribution networks, fire protection, and wastewater treatment.

Other industrial valves market players include The Weir Group plc, Metso Corporation, The Flowserve Corporation, Crane Co., Avcon Controls Pvt. Ltd., Forbes Marshall Pvt. Ltd., and IMI plc, among others.

Key Highlights of the Report