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Jan 02, 2024

Industrial Valves Market

Companies covered in this report are Emerson, Flowserve Corporation, Sclumberger

Companies covered in this report are Emerson, Flowserve Corporation, Sclumberger Limited, Crane Co., Neles, KITZ Corporatin, IMI PLC, KSB SE & Co, & KGaA

Jersey City, NJ, April 18, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Valves Market is estimated to reach over USD 104.62 billion by 2031, exhibiting a CAGR of 5.17% during the forecast period.

The pharmaceutical and healthcare sectors are leading the fight against COVID-19 due to the coronavirus's quick proliferation. The manufacturing of every important medical gadget needed to treat COVID patients has increased. Several significant industry participants have seized the chance to combat the fatal coronavirus pandemic since industrial valves are crucial to the production of various types of medical equipment. Emerson's valves, for instance, can control pressure relief, maintain cleanliness in sterilisers, in oxygen therapy devices to help high-risk patients or those recovering, and support blood analyzers and other essential haematology equipment.

Moreover, pop-up and remote hospitals, as well as triage centres, receive oxygen supply through the company's high-pressure and high-purity valves. Emerson also manufactures a number of tiny instrument-level valves for lab and medical equipment, and the business is now, for the first time, noticing an increase in demand from manufacturers of oxygen therapy devices. Furthermore, modern hospital beds contain pneumatically activated air bladders that are intended to improve patient comfort.

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Recent Developments:

In November 2022, In keeping with the Saudi Arabian government's intentions to localise critical products, IMI Saudi Industry, a division of IMI Critical Engineering, launched a new 5,000 m2 facility in Dammam. This facility will provide cutting-edge valve solutions and boost national manufacturing capabilities.

List of Prominent Players in the Industrial Valves Market:

ALFA LAVAL

AVK Holding AS

Baker Hughes

Bray International,

CIRCOR International Inc.

Crane Co.,

Curtiss-Wright Corporation

Danfoss AS

Emerson Electric Co.

Flowserve Corporation

Georg Fischer Ltd

Hitachi Ltd

Honeywell International Inc.

IMI PLC,

ITT Inc.

KITZ Corporation

KLINGER Group

KSB SE & Co, & KGaA,

Mueller Water Products Inc.

Neles,

NIBCO Inc.

Okano Valve Mfg. Co. Ltd

Saint-Gobain

Schlumberger Limited

Spirax-Sarco Engineering PLC.

TechnipFMC PLC

The Weir Group PLC

Valvitalia SpA

Xylem

Zhejiang Dunan Valve Co. Ltd.

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Industrial Valves Market Report Scope:

Report Attribute

Specifications

Market size value in 2022

USD 67.57 Bn

Revenue forecast in 2031

USD 104.62 Bn

Growth rate CAGR

CAGR of 5.17 % from 2023 to 2031

Quantitative units

Representation of revenue in US$ Million, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Type, Material, Component, Function, Size And End-user

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Market Dynamics:

Drivers:

Due to technical advancements that provide access to resources in deep oceans or uncommon reservoirs like high temperature, high pressure, under pressure, and unconventional or depleted reservoirs, the oil and gas industry's growing production and exploration investment has fueled the need.

The market for industrial valves is anticipated to experience significant growth opportunities as a result of rising pipeline installations and expansion in unconventional oil & gas applications across downstream segments. The process industry's increasing use of automation has increased demand for automated control valves.

Challenges:

Over the course of the forecast period, issues like the absence of standardized norms and governing policies, a lack of product differentiation, a slowdown in the oil and gas, mining, and construction industries, and downtime because of valve repairs are predicted to limit market growth globally. Manufacturers of valves must abide by a number of standards and laws. Regarding valves, several locations have distinct certifications and regulations.

Due to the vast range of industries where valves are used, including oil and gas, food and beverage, pharmaceuticals, energy and electricity, water and wastewater treatment, building and construction, chemicals, and pulp and paper, this factor leads to diversity in demand. Yet, this diversity is impeding the market for industrial valves from expanding.

Regional Trends:

The market in North America is anticipated to provide a significant platform for future growth. This region has a lot of potential for growth as a result of the rising output of shale gas and oil sands. The demand for all types of valves is expected to increase as ageing, ineffective valves for gas transportation in midstream infrastructure are replaced with more effective valves. The extraction of oil and gas from shale gas is revolutionizing the U.S. market, and these discoveries have sparked significant investments in North American exploration and production. The market potential is anticipated to be strengthened by the rising trend of electricity generation from renewable energy sources.

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Segmentation of Industrial Valves Market-

By Type-

Ball Valves

Check Valves

Butterfly Valves

Plug Valves, Globe Valves

Gate Valves

Diaphragm Valves

Safety Valves

By Component-

Actuators

Valve Body

Other Components

By Function-

On/Off

Control

By Material-

Steel,

Cast Iron,

Alloy-Based,

Cryogenic, Plastic,

Other Materials

By Size-

<1,

1" to 6",

7" to 25",

26" to 50",

>50"

By End-User Industry-

Chemicals

Energy & Power

Oil & Gas

Water & Wastewater Treatment

Building & Construction

Paper & Pulp

Metal & Mining

Agriculture

Semiconductor

Pharmaceutical

Food & Beverage

Others

By Region-

North America-

The US

Canada

Mexico

Europe-

Germany

The UK

France

Italy

Spain

Rest of Europe

Asia-Pacific-

China

Japan

India

South Korea

Southeast Asia

Rest of Asia Pacific

Latin America-

Brazil

Argentina

Rest of Latin America

Middle East & Africa-

GCC Countries

South Africa

Rest of Middle East and Africa

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