Insights Into The Industrial Valves Market’s Growth Opportunities Through 2023-2032 – Includes Industrial Valves Market Outlook
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The increased number of oil and gas explorations is likely to stimulate innovation in the manufacturing of industrial valves, propelling the market over the forecast period.
The global industrial valves market is expected to grow from $97.80 billion in 2022 to $102.99 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The global industrial valves market size is expected to reach $120.65 billion in 2027 at a CAGR of 4.0%.
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Global Industrial Valves Market Segments Include:
- By Valves: Ball Valves, Check Valves, Butterfly Valves, Plug Valves, Globe Valves, Gate Valves, Diaphragm Valves, Safety Valves
- By Function: Isolation, Regulation, Safety Relief Valve, Special Purpose, Non-Return
- By Material: Ductile Iron, Carbon Steel, Plastic, Brass, Bronze, Copper, Aluminium, Others Materials
- By Accessories: Hydraulic Filter, Power Cable, Mounting Screw and Bolts, Seal Kits, Dust Protection Cover, Others Accessories
- By End-User: Chemicals, Energy And Power, Oil And Gas, Water And Wastewater Treatment, Building And Constructions, Paper And Pulp, Metal And Mining, Agriculture, Semiconductor, Other End Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global industrial valves market in 2021.
Major Market Players in the industrial valves market include Emerson Electric Co., The Flowserve Corporation, Schlumberger Limited, Crane Holdings Co., KITZ Corporation, AVK Holdings A/S, Forbes Marshall, KSB SE & Co. KGaA, Spirax-Sarco Engineering PLC.
Product innovation is a common trend in the industrial valve markets. Major industrial valve firms are focusing on producing novel solutions to increase their market position. For example, Emerson Electric Co., a US-based manufacturing business, presented two new technology products dubbed the Crosby J-Series pressure relief valves in December 2022. The first type is a balance diaphragm valve, which eliminates the requirement for bellows in pressure-reducer valves while maintaining balanced operation against back pressure, saving ownership costs and enhancing performance. The second technology is bellows leak detection, which enables remote detection of bellows ruptures in pressure-reduction valves while decreasing and precisely calculating volumetric emissions.
The Industrial Valves Global Market Report 2023 provides a industrial valves market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial valves market forecast analyzes industrial valves market size, industrial valves market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Industrial valves are mechanical components that open, close, and partially open vaults to control the flow of fluid via pipes and other passageways. They regulate the flow of fluids, gases, and slurries. These mechanical devices that are manually controlled can be operated automatically.
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