PUBLISHER: Market Research Future | PRODUCT CODE: 1596031
PUBLISHER: Market Research Future | PRODUCT CODE: 1596031
Global Industrial Valve Market Research Report Information 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 71,834.5 million. The Industrial Valve Market industry is anticipated to experience a compound annual growth rate (CAGR) of 4.68% from USD 74,810.9 Million in 2024 to USD 1,08,385.7 Million by 2032. This growth is expected to occur over the forecast period (2024-2032).
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. The growth of the industrial valves market is significantly influenced by the growing demand from end-use sectors, such as water and wastewater treatment, manufacturing, 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 Market is divided into Valve segments, including Ball Valves, Butterfly Valves, Check Valves, Pinch Valves, Plug Valves, Globe Valves, Gate Valves, and Others.
The Industrial Valve Market is divided into materials, such as Stainless Steel, Cast Iron, Alloy-based, Cryogenic, and others.
The is categorized by final use into a variety of sectors, including Oil & Gas, Construction, Energy & Power, Chemicals, Food & Beverages, Water and Wastewater Treatment, Mining, Cement, Agriculture, Refining and Petrochemicals, Pulp & Paper, and others.
The Industrial Valve Market is divided into four size categories: Less than 1, 1" to 25, 25" to 50", and 50" and above.
Regional Market Insights
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America comprise the Industrial Valve Market, which is segmented by region. Currently, the Asia-Pacific region has the highest market share and is expected to generate substantial revenue during the forecast period. This rapid expansion is fueled by the expanding energy and power, water and wastewater treatment apparatus, and oil and gas industries in the Asia-Pacific region.
It is envisaged that the demand for industrial valves will be stimulated by a thriving industrial sector, significant infrastructure development, and substantial investments in oil and gas exploration. Furthermore, the region's emphasis on environmental sustainability and water management is anticipated to exacerbate the adoption of industrial valves.
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 companies in the Industrial Valve Market.