Global Valves Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Valves Market Growth

In 2022, district heating systems met nearly 9% of the final heating demand worldwide. Increasing energy security concerns in Europe have led to a greater emphasis on the adoption of district heating systems, where heat is generated in a centralised location and distributed to industrial and residential complexes. The United Kingdom’s Climate Change Committee estimates that by 2050, nearly 18% of the overall heat demand can be met by district heating systems. In April 2023, the European Union provided EUR 401 million to the Czech Republic to facilitate the expansion of its sustainable district heating scheme. In 2023, Finland established a new geothermal energy power plant with an annual capacity of 2600 MWh to expand its district heating network. This is expected to drive the demand for innovative valves in the market.

Global agencies suggest that the global freshwater demand can outstrip total supply by nearly 40% by 2030. This makes it essential for farmers to adopt smart irrigation systems since the agriculture sector accounts for nearly 70% of the world’s water consumption. Nearly 570 million farmers own small-size landholdings, which constitute 80% of all farmlands worldwide. This is expected to fuel the market development over the forecast period.

Key Trends and Developments

Global Valves Market Trends

Many directional control valves are manufactured using fluorocarbon (Viton) and nitrile (buna-N), which are suited for temperature ranges of 15°F to +400°F and 40°F to +250°F. They cease to be operational in extremely cold industrial environments, which are situated along the northern slopes of Alaska or Siberia. This poses significant threats to the global production of essential minerals, including iron ore, coal, diamonds, and natural gas. However, increasing scientific innovation in elastomers has led to the creation of durable synthetic polymers, that can withstand temperatures as low as – 65° F, thereby accelerating industrial innovations.

Global Valves Industry Segmentation

Global Valves Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-2032, the Asia Pacific is estimated to grow at a CAGR of 5.9% as end-use sectors such as oil and gas and power generation flourish.

Leading Companies in the Global Valves Market

Major market players are expected to manufacture smart valves that are capable of automatically detecting and adjusting changes in flow rates, pressure, and temperature. By using IIoT platforms, they can drive seamless coordination between various industrial processes, thereby leading to the market growth.

Emerson Electric Co.

Emerson Electric Co. was founded in 1890 and is headquartered in Missouri, United States. It was originally a manufacturer of fans and electric motors. It now boasts a wide product portfolio encompassing valves, regulators, actuators, industrial automation solutions, and control and safety systems, among others.

Flowserve Corporation

Flowserve Corporation was created in 1997 through the merger of Durco International and BW/IP, two leading man...

Crane Fluid Systems

Crane Fluid Systems is a major brand of Crane Building Services & Utilities, which belongs to the Process Flow...

BEL Valves Limited

BEL Valves Limited belongs to the British Engines Group, which was formed in 1922. It is engaged in providing ...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major market players are Crane Fluid Systems, AVK Holding A/S, JC FÁBRICA DE VÁLVULAS, S.A.U, BEL Valves Limited, Velan Inc., Bray International, and IMI Kynoch Limited, among others.