Industrial Valves Market Outlook, Global Size, Share and Industry Report 2023-2028
The latest report published by IMARC Group, titled “Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Market Overview:
The global industrial valves market size reached US$ 68.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 105.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
Industrial valves refer to mechanical devices that organize the pressure and flow of gases, liquids, and slurries within a system. They play a crucial role in various industries, such as oil and gas, chemical, water treatment, power generation, and more. Valves can be operated manually or automatically. Manual valves require human intervention to open or close, while automatic valves use actuators driven by electricity, hydraulic pressure, or pneumatic pressure. The primary types of industrial valves include gate valves, globe valves, ball valves, butterfly valves, and check valves. Each type has a unique design and functionality suited to specific applications. These valves contribute to efficient and safe operations in industrial processes, ensuring that substances are transported effectively without leakage or contamination. Their proper selection, installation, and maintenance are essential for the optimal functioning of industrial systems.
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What are the growth prospects and trends in the industry?
The expansion of industries like oil and gas, chemical, water and wastewater treatment, power generation, and others, directly impacts the demand for industrial valves which represents one of the key factors driving the growth of the market across the globe. As these industries grow, the requirement for controlling and regulating fluid flow becomes paramount. In line with this, technological innovations in valve design, materials, and automation are enabling more efficient and precise control, which is fueling the market growth. The integration of IoT and Industry 4.0 concepts is further enhancing the functionality and efficiency of industrial valves.
Various governmental regulations concerning environmental protection and safety standards mandate the use of specific types of valves. Compliance with these regulations often necessitates the upgrading or replacement of existing valve systems, which are stimulating the market growth. The rising global demand for energy, especially in emerging economies, is leading to increased exploration and production activities in the oil and gas sector. This growth directly correlates with the need for specialized industrial valves to ensure safe and efficient operations. Rapid urbanization and the development of new infrastructure, such as water supply systems and power plants necessitate the installation of industrial valves. This development especially impacts regions experiencing significant economic growth. Aging infrastructure and the continuous need for maintenance and replacement of worn-out valves contribute to a consistent demand in the market.
The economic growth in emerging markets creates new opportunities for the industrial valves market. As industries develop in these regions, the need for quality industrial valve systems grows correspondingly. There is an increasing trend toward customization and specialization in valve design to meet specific industrial needs. Manufacturers are focusing on providing tailored solutions, which adds to market attractiveness. The growing emphasis on sustainability and environmental conservation encourages the adoption of energy-efficient valves. This trend influences both the development of new products and the retrofitting of existing systems which is creating a positive outlook for the market across the globe.
Industrial Valves Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the industrial valves market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AVK Holding A/S
- Cameron International Corporation (Schlumberger)
- The Crane Company
- Emerson Electric Co.
- Flowserve Corporation
- Forbes Marshall
- IMI Plc
- Kitz Corporation
- Neway Valves (Suzhou) Co. Ltd.
- Samson AG
- Velan Inc.
Key Market Segmentation:
The report has segmented the global industrial valves market based on product type, functionality, material, size, end use industry and region.
Breakup by Product Type:
- Gate Valve
- Globe Valve
- Butterfly Valve
- Ball Valve
- Check Valve
- Plug Valve
- Others
Breakup by Functionality:
- On-Off / Isolation Valves
- Control Valves
Breakup by Material:
- Steel
- Cast Iron
- Alloy Based
- Others
Breakup by Size:
- Upto 1”
- 1”-6”
- 7”-25”
- 26”-50”
- 51” and Above
Breakup by End Use Industry:
- Oil and Gas
- Power
- Pharmaceutical
- Water and Wastewater Treatment
- Chemical
- Food and Beverage
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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