PUBLISHER: Market Research Future | PRODUCT CODE: 1496176
PUBLISHER: Market Research Future | PRODUCT CODE: 1496176
Global Industrial Valve Market Research Data by Valve (Ball Valve, Butterfly valve, Check valve, Pinch valve, Plug valve, Globe valve, Gate valve, and Others), By Material (Stainless steel, Cast iron, Alloy-based, Cryogenic, and Others), By End Use (Oil & Gas, Construction, Energy & Power, Chemicals, Food & Beverage, Water & Wastewater Treatment, Paper & Pulp, and Others), By Size (Less than 1", 1" to 25", 25" to 50", and 50" and above), and by Region (North America, South America, Europe, Asia Pacific, And Middle East & Africa) -Forecast to 2032
In 2023, the industrial valve market was estimated to be worth USD 71834.5 million. During the forecast period (2024-2032), the industrial valve industry is anticipated to experience a compound annual growth rate (CAGR) of 4.67%, increasing from USD 75210.72 Million in 2024 to USD 108385.7 Million. Industrial valves are essential components of fluid handling systems, as they are specifically designed to regulate, direct, and control the flow of gases, liquids, and slurries through conduits. During the forecast period, the industrial valve industry is expected to experience substantial growth due to the increasing emphasis on industrial automation and process optimization. The industrial valve market is further propelled by the increasing integration of intelligent valves into digital control systems and the implementation of Industrial Internet of Things (IIoT) technologies.
The industrial valve market is experiencing significant growth as a result of a surge in demand from a diverse array of applications. These critical factors are essential for the effective operation of a diverse array of applications by regulating the circulation of liquids, vapors, and slurries within a system. One of the primary factors driving the expansion of the industrial valve market is the growing demand from end-use sectors, such as manufacturing, water and wastewater treatment, chemicals, oil and gas, and power generation. The oil and gas industry's expanding exploration and production activities require the implementation of advanced valve systems to regulate the flow of hydrocarbons. In the same vein, industrial valves are essential for the regulation of the passage of water and chemicals during the treatment of wastewater and water. The power generation industry is a significant contributor to the growing demand for industrial valves, as these components are necessary for the regulation of steam and other substances within power facilities.
Market segment insights
The Industrial Valve is classified according to its nature. Ball valves, butterfly valves, check valves, pinch valves, plug valves, globe valves, gate valves, and other valves are all included in market segmentation.
The market is categorized into stainless steel, cast iron, alloy-based, cryogenic, and other categories based on the material.
Oil & gas, construction, energy & power, chemicals, food & beverage, water & wastewater treatment, paper & pulp, and other industries comprise the end-use segment of the industrial valve market size.
The industrial valves market size is segmented into four categories: Less than 1", 1" to 25", 25" to 50", and 50" and above.
Regional Perspectives
The Asia Pacific industrial valve market was the largest market share in 2022 and is anticipated to experience a substantial CAGR growth during the forecast period. A convergence of factors that distinctively characterize this dynamic and rapidly evolving area has resulted in the Asia-Pacific region becoming a significant participant in the Industrial Valve industry. The substantial expansion of manufacturing operations in the region is a significant factor driving the industrial valve sector. The industrialization of countries such as China, India, and Japan has led to a significant increase in the demand for industrial valves, particularly in the oil and gas, chemical, and power generation sectors.
In 2022, the industrial valve market in Europe accounted for the second largest market share and is anticipated to grow at a satisfactory rate of compound annual growth rate (CAGR) throughout the forecast period. In the industrial valve sector, Europe is a market that is both dynamic and highly influential, with a variety of factors that collectively influence its trajectory. The resilient manufacturing industry is a critical determinant that is driving the region's expansion. Germany, France, and Italy are among the most prominent nations in Europe, which is distinguished by its well-established industrial landscape. The Europe industrial valves market is being driven by the increasing demand for industrial valves, which is a result of the region's escalating manufacturing activities. The European manufacturing sector, which prioritizes precision engineering and high-quality production, is heavily reliant on advanced valve technologies to supervise and regulate a diverse array of processes, such as fluid management and material handling.
In 2022, the North American industrial valve market accounted for the third largest market share and is anticipated to experience the highest compound annual growth rate (CAGR) during the forecast period. A variety of regionally specific factors are contributing to the rapid expansion of the industrial valve market in North America. One of the primary factors propelling the market is the increasing demand for energy, particularly in the United States and Canada. The region's increasing dependence on a diverse array of energy sources, such as shale gas and renewables, has resulted in a heightened demand for industrial valves in a variety of applications, such as oil and gas exploration and electricity production. Businesses are investing in infrastructure to meet the increasing demand for energy, which is the primary factor driving the growth of the North American industrial valves market.
Emerson Electric Co, SLB, IMI PLC, Flowserve Corporation, Trillium Flow Technologies, Crane Company, Walworth, AVK Holding A/S, Kitz Corporation, and ARFLU SA are among the key participants in the Industrial Valve industry.