Global Valves Market Report 2023: Sector is Expected to Reach $88.33 Billion by 2028 at a CAGR of 5.26%

Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Global Valves Market 2023-2028 by Type, End-Users, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Valves Market is estimated to be USD 68.36 Bn in 2023 and is expected to reach USD 88.33 Bn by 2028, growing at a CAGR of 5.26%.

The valve market worldwide is a multifaceted and ever-evolving industry, encompassing a diverse range of valve types, materials, and applications. Valves play a crucial role in controlling the flow of fluids, gases, and other materials through pipelines and systems, finding applications in various industries such as oil and gas, water and wastewater, power generation, chemical processing, and pharmaceuticals.

The market for industrial valves is driven by the increasing demand from the oil and gas industry, where valves play a critical role in controlling the flow of steam and water in major power plants. Recent advancements in material science and production techniques have enabled valves to perform optimally even under high-pressure and high-temperature conditions. However, the market faces challenges such as high capital investment, low-profit margins due to varying valve standards across regions, and issues related to outsourcing, such as poor quality and delayed deliveries, leading to increased rejection rates and customer dissatisfaction.

Nevertheless, the market presents opportunities in the form of rising demand for AI-integrated valves for intelligent water supply. Artificial intelligence (AI) algorithms can enable data processing and learning, allowing for applications such as predicting flow based on historical data, forecasting future scenarios, and selecting the best options in water distribution networks.

One of the challenges in the market is the unplanned downtime caused by valve malfunctioning and failure. Plant shutdowns or unplanned downtime due to malfunctioning valves can result in severe repercussions, including production losses, increased repair expenses, additional labor costs, and raw material waste, and can damage customer relationships. To address this challenge, industry participants are focusing on implementing solutions for condition monitoring, connected infrastructure, and predictive maintenance to minimize downtime and improve operational efficiency.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Valves Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Valves Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Valves Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Key Attributes:

Market Dynamics

Drivers

• The Increasing Demand for Industrial Valves in the Oil and Gas Industry
• Rise in Infrastructure-Related Developments
• Adoption of Emerging Technologies

Restraints

• High Cost of Manufacturing

Opportunities

• Rising Demand for AI-Integrated Valves for Intelligent Water Supply
• Increasing Accessibility of Plastic Valves
• Increasing Water Exploration and Power Generation Projects

Challenges

• Lack of Standardized Certifications and Government Policies
• Downtime Due to Repair and Maintenance

Companies Mentioned

• Alfa Laval
• AVK Holding AS
• Cameron International Corp.
• Crane Holdings Co.
• Emerson Electric Co.
• Fisher Controls
• Flowserve Corp.
• FMC Technologies
• General Electric Co.
• Honeywell International Inc.
• IMI PLC
• KITZ Corp.
• Metso Co.
• Neway Valve Co. Ltd.
• Parker Hannifin Corp.
• Pentair PLC
• Schlumberger Ltd.
• Spirax Sarco Ltd.
• Swagelok Co.
• Velan Inc.

Market Segmentation

The Global Valves Market is segmented based on Type, End-Users, and Geography.

• By Type, The valve market is categorized into several types, including ball valves, butterfly valves, gate valves, plug valves, and control valves. The market share of each valve type may vary depending on the specific industry, application, and location. Ball valves are generally considered the most popular type of valve due to their high durability, low maintenance, and efficient shutoff. They are widely used in industries such as oil and gas, water treatment, and chemical processing. Butterfly valves are also commonly used, especially in industries that require large flow rates, such as HVAC, water distribution, and wastewater treatment. They are known for their compact and lightweight design, as well as quick and easy operation.
• By End-Users, The market is segmented into various industries such as Oil & Gas, Power Generation, Chemical, Water & Wastewater, and Mining. Among these, the Oil & Gas sector has been the dominant contributor to the market, and this trend is expected to persist in the forecasted period. This is because valves play a critical role in piping systems, enabling flow regulation, equipment isolation and protection, and crude oil refining direction and guidance. For example, gate valves, which are linear motion devices that control fluid flow, are widely used in plumbing and pipeline applications.
• By Geography, The market is categorized into regions including the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia-Pacific region has a substantial market share due to the growing manufacturing and R&D activities in various industries across the region. Efforts to enhance worker safety in sectors such as oil and gas and chemicals are also driving market growth in the area. The demand for industrial valves is high in Asia-Pacific, particularly in countries like India where the manufacturing sector is rapidly expanding, and the government offers incentives to businesses setting up industrial facilities. Furthermore, the Indian government has implemented several initiatives to support the industrial sector, making it a key driver of market expansion in the region.

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Attachment

• Global Valves Market