Rockville , Dec. 06, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Industrial Valves Market size is expected to be valued at more than US $79.4 Billon by the end of 2030 while rising at a 3.3% CAGR.
Industrial valves are devices crucial for controlling the flow, pressure, and direction of fluids in various industries. What sets them apart is their ability to provide precise control over fluid movement, making them ideal for applications where accuracy is key. These valves are versatile and can be adapted to different tasks, from simple on/off control to more complex functions. They are known for their durability, reliability, and specialized designs tailored to specific needs. Industrial valves often feature automation, allowing for remote control and monitoring, thus enhancing operational efficiency.
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The growth of the Industrial Valves Market is propelled by the expanding industrial sectors such as oil and gas, water treatment, and manufacturing. The increasing demand for industrial valves is closely tied to the ongoing process optimization initiatives, automation trends, and the integration of smart technologies in industrial operations.
However, global economic changes affect how much construction and manufacturing occurs, impacting the demand for industrial valves. Economic slowdowns lead to less investment in projects using these valves, creating a challenge for the market. Another struggle is the cyclical demand in major industries like oil and gas, power generation, and chemicals.
Key Takeaways:
- The oil and gas industrial valves are estimated to create an absolute opportunity of $ 7.7 Bn and are expected to witness a CAGR of 3.5% by the end of the forecast period.
- An upsurge in the oil & gas industry is expected to boost the sales of these industrial valves.
- The Asia Pacific excluding Japan is anticipated to be the fastest-growing region due to investments in oil & gas, and an increase in demand for water treatment. APEJ is expected to create an absolute dollar opportunity of US $ 11.2 Bn during the forecast period.
- Moreover, European industrial valves are estimated to account for more than 1/4th of the overall absolute dollar opportunity by the end of 2030.
The surge in industrialization and infrastructure development, a growing emphasis on energy efficiency, and the expanding adoption of process automation in various industries are driving the business - Says FACTMR Expert
Top Fortune Companies Profiled in This Report
- Emerson Electric
- KITZ Corporation
- Schlumberger Limited
- Flowserve Corporation
- Watts Water Technologies
- Weir Group Plc.
- Technip FMC Plc.
- KSB SE & Co. KGaA
- Alfa Laval Corporate
Market Competition
In the heavily competitive landscape, leading manufacturers prioritize strategic acquisitions and expanding their geographical presence to uphold their market standing.
- In December 2022, KSB SE & Co. KGaA introduced a series of diaphragm valves manufactured through additive printing/3D printing. These valves, crafted from a specially alloyed material, are tailored for use in the pharmaceutical industry.
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Winning strategies
Successful companies are focusing on creating high-performance valves designed for specific industries. By customizing valves to meet the unique needs of sectors like oil and gas, power generation, and chemicals, these companies ensure better functionality and efficiency.
In the market, there's a trend towards using the Internet of Things (IoT) and automation technologies. This involves adding sensors to valves and enabling remote monitoring, creating advanced, smart valve solutions.
A successful strategy in the market involves incorporating environmental monitoring features into valves. This innovation assists industries in adhering to strict environmental regulations and achieving sustainability goals.
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Hydraulic Valves Market: The global hydraulic valves market will reach a valuation of US$ 5,459.1 million in 2022 and is expected to progress at a CAGR of 3.8% to reach US$ 7,895.8 million by the end of 2032.
Marine Valves and Actuators Market: The marine valves and actuators market is predicted to grow at a moderate CAGR of 4.5%. The global market is estimated to reach a value of about US$ 5.8 Bn by 2032, growing from US$ 3.5 Bn valued in 2021.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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