Chicago, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The report "Industrial Valves Market by Valve Type (Gate (Parallel, Wedge), Globe (Tee, Angle, Wye), Ball (Trunnion, Floating, Threaded Series), Butterfly (High Performance, Lined), Plug (Lined, Lubricated, Non-Lubricated), Check (Dual Plate, Piston Lift, Spring Loaded Disk, Swing Check, Tilting Check, Y Pattern, T Pattern), Safety Relief (Spring Loaded, Pilot Operated), Other Customized), Valve Material (Cast Steel, Carbon Steel, Stainless Steel, Bronze, Other Alloys) End-Use Industry (Oil & Gas, Chemical, Water & Wastewater Treatment, Power Plants, Paper & Pulp, Others), Function (Manual, Automatic) – Global Forecast to 2028", is projected to grow from USD 59.1 billion in 2021 and reach USD 82.9 billion by 2028; it is expected to grow at a CAGR of 5.80% from 2022 to 2028.
Market Overview:
One of the primary driving forces behind market expansion is rapid industrialization, which occurs in tandem with the growing automation of industrial processes. Along with this, an additional significant growth-inducing aspect is the increase in oil and gas (O&G) exploration activities in offshore regions, brought on by the rising energy demand. The development of nuclear power plants and oil refineries contributes to the market. Additionally, the market is positively affected by the expanding pipeline installations and the rising demand for monitoring and controlling them from a centralized location. In the upcoming years, it is projected that the market will be driven by the increasing popularity of renewable energy sources for producing power.
Click Here to Access a Free Sample Report of the Global Industrial Valves Market @ https://marketsnresearch.com/sample/1570
List of Key Players in Industrial Valves:
- G.E. Company
- Emerson
- Flowserve Corporation
- Schlumberger Limited
- TechnipFMC Plc
- KSB SE & Co. KGaA
- KITZ Corporation
- Alfa Laval Corporate AB
- Curtiss-Wright Corp.
- CIRCOR International Inc.
- Oilwell Varco Inc.
- Weir Group Plc.
- Neway Valves
- AVK International A/S
- Flowserve Corporation
- LESER GmbH & Co. K.G.
Industrial Valves Market Dynamics: Drivers, Restraints, Opportunities
Drivers: Growing demand for valves from healthcare and pharmaceuticals industries due toCOVID-19 pandemic
Restraints: Lack of standardized policies
Opportunities: Use of lloT and Industry 4.0 in industrial valves
Request Report Sample Pages: https://marketsnresearch.com/sample/1570
Recent Developments:
- In October 2021, Emerson introduced the first complete valve assemblies that meet safety integrity level 3 (SIL) requirements under the International Electrotechnical Commission's IEC 61508 standard.
- In September 2021, ToA Valve Engineering Inc. (Japan) common shares will be acquired by KITZ Corporation, which also announced the signing of a capital and business cooperation agreement. By sharing ideas, technology, and strengths linked to valves, this commercial collaboration enabled both companies to increase their corporate value and grow their businesses.
- In January 2021, Flowserve Corporation launched a new loT service suite, RedRaven, for the remote monitoring of facilities. RedRaven advanced loT condition monitoring helps plants monitor valve performance and proactively identify and address issues before failures.
Download PDS Broucher @ https://marketsnresearch.com/sample/1570
Industrial Valves Market Scope:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2028 |
| Segments Covered | By Valve Type, By Valve Material, By End-Use Industry, By Function |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
Industrial Valves Market Segmentation:
Global Industrial Valves Market – By Valve Type
- Gate
- Parallel
- Wedge
- Globe
- Tee
- Angle
- Wye
- Ball
- Trunnion
- Floating
- Threaded Series
- Butterfly
- High Performance
- Lined
- Plug
- Lined
- Lubricated
- Non-Lubricated
- Check
- Dual Plate
- Piston Lift
- Spring Loaded Disk
- Swing Check
- Tilting Check
- Y Pattern
- T Pattern
- Safety Relief
- Spring Loaded
- Pilot Operated
- Other Customized
Global Industrial ValvesMarket – By Valve Material
- Cast Steel
- Carbon Steel
- Stainless Steel
- Bronze
- Other Alloys
Global Industrial ValvesMarket – By End-Use Industry
- Oil & Gas
- Chemical
- Water & Wastewater Treatment
- Power Plants
- Paper & Pulp
- Others
Global Industrial Valves Market – By Function
- Manual
- Automatic
Inquiry Before Buying This Research Report: https://marketsnresearch.com/buying-request/1570
The globe category is estimated to be the largest growth in the steam engine market during the forecast period
The globe category dominated the market. Globe valves, which govern by the position of a movable disc concerning the stationary ring seat, are among the most often used valves for controlling the flow in a pipeline. The globe valve's main benefit is that it doesn't leak as much as other valves. These valves are used in various industries for their advantages, including superior full-closing properties, quicker opening and closing times, and positive shut-off. Additionally, they can function as stop-check valves.
Oil & gas is estimated to be the largest growing market category during the forecast period
The oil & gas segment is projected to grow the fastest during the forecast period due to the expansion of the transportation industry, rising energy prices, and expanding drilling operations in Gulf Cooperation Council (GCC) nations. The COVID-19 pandemic outbreak, however, has caused an economic catastrophe that the globe is still recuperating from. After COVID-19, the growing need for maintenance work in the oil and gas industry would present profitable business prospects. The need for maintenance operations would also increase opportunities for maintenance service providers in the oil & gas industries, increasing the demand for valves. This is because most of the existing oil and gas refineries are aging.
Ask for Customization of this Report: https://marketsnresearch.com/customization-request/1570
Regional Insights-
The North American segment is estimated to be the largest growing market during the forecast period
North America is the largest industrial valve market, projected to grow fastest during the forecast period. Since several of the greatest global firms, like Emerson (U.S.), Cameron-Schlumberger (U.S.), and Flowserve Corporation, are based in North America, the continent is a significant market for industrial valves (U.S.). Among the key drivers propelling the market in North America are the increased need for safety applications and the region's expanding R&D efforts connected to using actuators in valves for automation. In the U.S., industrial valve application fields are being expanded by industry-level R&D in various sectors, including energy & power and chemicals. Oil and gas, energy and electricity, and water and wastewater treatment industries all employ control valves to start, stop, or throttle flow and ensure safe and effective process automation.
About Markets N Research
When it comes to investing and money matters, you need the leading market research consultancy firm to help you make the right decisions during the toughest business questions and decisions. Markets N Research is the leading research company offering both tactical and strategic support to all our customers. Customer satisfaction is our goal and that is why, we have a team of skilled and experienced specialist with the ability to do data mining, information management, and revenue enhancement solutions to ensure that our clients make informed decisions when coming to investing in the market.
Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges.
Contact Us:
Markets N Research
US: +1-773-649-1529
Email:- sales@marketsnresearch.com
Website: https://marketsnresearch.com/
Follow on Linkedin: https://www.linkedin.com/company/markets-n-research
Follow on Twitter: https://twitter.com/marketsnr
Like us on Facebook: https://www.facebook.com/Markets-N-Research-108839598639025
Browse More Machinery And Equipments Industry Reports @ https://marketsnresearch.com/category/automotive-and-transportation/automotive/4
Related Machinery And Equipments Industry Market Research Reports:
Global Automotive Robotics Market, By Component (Robotic Arm, End Effector, Sensors, Controller, Drive, and Others); By Application (Material Handling, Welding, Cutting, Painting, and Others); Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 – 2028
Drone Defense System Market, By Technology (Identification & Detection and Countermeasures); By End User (Military, Commercial and Homeland Security) Market Growth, Future Prospects, Post COVID-19 Scenario 2021 - 2028
Ablation Technology Market, By Technology (Laser, Radiofrequency, Ultrasound, Microwave, and Others); By End-use (Hospitals and Surgical Centers, Oncology Centers, Clinics, Community Healthcare, Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 – 2028
Self-Checkout Kiosk Market, By Deployment Type (Cloud-based and On-premise); By End-use Industry (Retail, Financial Services, Hospitality, Healthcare and Others) Market Growth, Future Prospects, Post COVID-19 Scenario 2021 - 2028
Smart Air Purifiers Market, By Technique: (Activated Carbon, Filtration, HEPA, TSS, and Others.), By Application (Commercial, Residential, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 - 2028
