New York, United States , June 27, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Valves Market Size is To Grow from USD 67.24 Billion in 2022 to USD 110.57 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
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Global Industrial Valves are mechanical devices used to control the flow of fluids in industrial processes. They are vital in industries like oil and gas, power generation, and chemical processing. Industrial valves regulate the flow, pressure, and direction of liquids, gases, and slurries. With the growth of industrialization and infrastructure development worldwide, the demand for industrial valves has increased. Key players in the market offer various types of valves, including ball valves, gate valves, butterfly valves, globe valves, and check valves. Ongoing technological advancements, such as smart valves and digital control systems, are improving the efficiency and performance of industrial valves.
Report Coverage
This research report categorizes the market for industrial valves market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the industrial valves market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the industrial valves market.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Industrial Valves Market Size, Share, and COVID-19 Impact Analysis, By Type (Butterfly Valve, Ball Valve, Globe Valve, Gate Valve, Plug Valve, and Others), By Product (Quarter-turn Valve, Multi-turn Valve, and Others), By Application (Energy & Power, Water & Wastewater Management, Chemicals, Oil & Gas, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The globe valve segment held the largest market share around 25.4% in 2022.
Based on type, the global industrial valves market is segmented into butterfly valve, ball valve, globe valve, gate valve, plug valve, and others. The globe valve segment has emerged as the dominant market share holder in the industrial valves industry. This can be attributed to several factors. Globe valves offer versatile applications across various industries, including oil and gas, chemical processing, power generation, and water treatment. Their ability to regulate and control fluid flow, coupled with their reliable performance and durability, makes them a popular choice. Moreover, the increasing demand for globe valves in critical applications such as isolation, throttling, and flow control further drives their market share. Additionally, ongoing advancements in globe valve designs and materials enhance their efficiency and operational capabilities.
The quarter-turn valve segment is expected to grow at a CAGR of around 5.8% during the forecast period.
Based on product type, the global industrial valves market is segmented into quarter-turn valve, multi-turn valve, and others. The quarter-turn valve segment is anticipated to witness significant growth in the forecast period. This can be attributed to several factors. Quarter-turn valves, such as ball valves and butterfly valves, offer quick and efficient operation, low torque requirements, and reliable sealing capabilities. These valves find widespread applications across industries, including oil and gas, water and wastewater management, and chemical processing. The increasing adoption of quarter-turn valves in pipeline systems, flow control operations, and process automation drives their market growth. Ongoing advancements in quarter-turn valve designs and materials further enhance their performance and efficiency.
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Asia-Pacific is predicted to grow at a higher CAGR of around 6.4% over the projected period.
Based on region, Asia-Pacific is projected to fastest significant growth during the forecast period. Several factors contribute to this trend. The region is experiencing rapid industrialization and urbanization, leading to increased infrastructure development and industrial activities. This drives the demand for industrial valves in sectors such as oil and gas, power generation, and manufacturing. Additionally, Asia-Pacific countries are investing in renewable energy sources, creating opportunities for valve applications in the renewable energy sector. Furthermore, the rising population and increasing water and wastewater management needs to drive the demand for valves in the water and wastewater treatment industry. These factors, coupled with favorable government initiatives and investments, position Asia-Pacific as a key growth region for the industrial valves market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global industrial valves market include Alfa Laval, AVK Holding AS, CIRCOR International Inc., Crane Co., Curtiss-Wright Corporation, Danfoss AS, Zhejiang Dunan Valve Co. Ltd., Emerson Electric Co., Flowserve Corporation, Baker Hughes, Georg Fischer Ltd., Hitachi Ltd., Honeywell International Inc., KITZ Corporation, KLINGER Group, Mueller Water Products Inc., NIBCO Inc., Okano Valve Mfg. Co. Ltd., Saint-Gobain, and Schlumberger Limited and among others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global industrial valves market based on the below-mentioned segments:
Industrial Valves Market, By Type
- Butterfly Valve
- Ball Valve
- Globe Valve
- Gate Valve
- Plug Valve
- Others
Industrial Valves Market, By Product
- Quarter-turn Valve
- Multi-turn Valve
- Others
Industrial Valves Market, By Application
- Energy & Power
- Water & Wastewater Management
- Chemicals
- Oil & Gas
- Others
Industrial Valves Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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