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What Are the Projected Expansion Rates of the Industrial Valves Market for the Next Decade?

The market size of industrial valves has seen substantial growth in recent years. It is projected to rise from $110.13 billion in 2024 and reach $116.15 billion in 2025, recording a compound annual growth rate (CAGR) of 5.5%. The previous growth can be linked to factors such as infrastructure development, energy exploration and production, the worldwide expansion of manufacturing, strict regulatory standards, and processes of replacement and upgrading.

Over the coming years, a consistent growth is anticipated in the industrial valves market. This market is forecasted to attain the value of $136.63 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.1%. Numerous factors contributing to this growth in the forecast period involve an emphasis on environmental sustainability, initiatives toward water management, projects related to renewable energy, robustness in supply chains, along with customization and specialization. Also, global economic recovery is key. Trend-wise, the forecast period is likely to witness the emergence of smart valve technologies, increased focus on energy efficiency, a surge in industrial internet of things, enhanced automation in the manufacturing sector, oil and gas exploration expansion, and the use of advanced materials and manufacturing strategies.

Which Major Market Drivers Are Expected to Boost the industrial valves Market’s Growth Potential?

The growth of the industrial valve market is anticipated to be driven by the increasing amount of oil and gas explorations. These explorations pertain to methods applied for determining potential drilling and extraction sites for oil and gas. Industrial valves, which manage fluid flow by dictating direction and controlling pressure, regulate the passage of these natural resources. For example, according to the Energy Information Administration (EIA), a statistical agency based in the US, oil production in 2023 is projected to exceed 12.8 million barrels per day. This figure is set to climb to roughly 13.2 million barrels per day in 2024, and escalate further to 13.4 million barrels per day in 2025. Even with a decrease in the number of functioning rigs, this growth is credited to enhanced well productivity. Hence, the escalating number of oil and gas explorations is fuelling the expansion of the industrial valve market.

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What Are the Key Industry Players Leading the Charge in the Industrial Valves Market’s Growth?

Major companies operating in the industrial valves market include:

• Emerson Electric Co._x000D_

• The Flowserve Corporation_x000D_

• Schlumberger Limited_x000D_

• Crane Holdings Co._x000D_

• KITZ Corporation_x000D_

How Are Market Trends and Shifts Impacting the Growth Trajectory of the Industrial Valves Market?

The industrial valve markets are seeing an increasing focus on product innovation as a major trend. A number of leading companies in this sector are concentrating their efforts on creating inventive solutions to solidify their market standing. For example, Emerson Electric Co., a manufacturing company based in the US, unveiled two new technology products named the Crosby J-Series pressure relief valves in December 2022. The first product is a balance diaphragm valve that diminishes the need for bellows in pressure-reducing valves, leading to balanced operation against back pressure and helping to decrease ownership expenses while enhancing productivity. The second innovative technology is bellows leak detection, a solution that enables remote identification of bellows ruptures in pressure-reduction valves, and concurrently minimizes and accurately measures volumetric emissions.

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Which Primary Segments of the Industrial Valves Market Are Driving Growth and Industry Transformations?

The industrial valves market covered in this report is segmented –

1) By Valves: Ball Valves, Check Valves, Butterfly Valves, Plug Valves, Globe Valves, Gate Valves, Diaphragm Valves, Safety Valves

2) By Function: Isolation, Regulation, Safety Relief Valve, Special Purpose, Non-Return

3) By Material: Ductile Iron, Carbon Steel, Plastic, Brass, Bronze, Copper, Aluminum, Others Materials

4) By Accessories: Hydraulic Filter, Power Cable, Mounting Screw And Bolts, Seal Kits, Dust Protection Cover, Others Accessories

5) 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

Subsegments:

1) By Ball Valves: Floating Ball Valves, Trunnion Ball Valves

2) By Check Valves: Swing Check Valves, Lift Check Valves, Dual Plate Check Valves

3) By Butterfly Valves: Resilient Seated Butterfly Valves, Triple Offset Butterfly Valves

4) By Plug Valves: Lubricated Plug Valves, Non-Lubricated Plug Valves

5) By Globe Valves: Rising Stem Globe Valves, Non-Rising Stem Globe Valves

6) By Gate Valves: Wedge Gate Valves, Parallel Gate Valves

7) By Diaphragm Valves: Inline Diaphragm Valves, Angle Diaphragm Valves

8) By Safety Valves: Spring-Loaded Safety Valves, Pilot-Operated Safety Valves

What Regions Are Influencing the Dynamics of the Industrial Valves Market?

Asia-Pacific was the largest region in the industrial valves market in 2024. The regions covered in the industrial valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Is the Scope and Reach of the Industrial Valves Market Defined?

Industrial valves are mechanical components that control the flow through pipes and other passages by opening, closing, and partially opening the vaults. They are used to control the flow of fluids, gases, and slurries. These manually controlled mechanical devices can be operated automatically.

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