PUBLISHER: The Business Research Company | PRODUCT CODE: 1414336
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414336
“Isolation Valves Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on isolation valves market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for isolation valves? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The isolation valves market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Isolation valves represent a category of valves designed to halt the flow of fluid or gas within a system. They find application in tasks such as pressure gauge isolation, pressure transmitter isolation, orifice plate pressure tapings, and various measurement devices.
The primary types of isolation valves include ball valves, butterfly valves, knife gate valves, plug valves, and others. A ball valve, for instance, serves as a shut-off valve by regulating the flow of liquid or gas through the rotation of a ball within a bore. The valves operate in various modes, including automated and manual, and are distributed through different sales channels such as original equipment (OE) and the aftermarket. End-user industries for these valves encompass oil and gas, power generation, chemical and petrochemical, water and wastewater, among others.
The isolation valves market research report is one of a series of new reports from The Business Research Company that provides isolation valves market statistics, including isolation valves industry global market size, regional shares, competitors with an isolation valves market share, detailed isolation valves market segments, market trends and opportunities, and any further data you may need to thrive in the isolation valves industry. This isolation valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The isolation valves market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The expansion observed in the historical period can be credited to the growth of industries and infrastructure, diversification of markets across various sectors, the need for maintenance and replacement, environmental considerations and efficiency, as well as globalization and the expansion of markets.
The isolation valves market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The forecasted growth in the upcoming period can be ascribed to the growth in demand specific to industries, an upswing in infrastructure projects, a heightened need for maintenance and replacement, market penetration into emerging economies, and the expansion of environmental regulations. Key trends anticipated in the forecast period encompass a focus on enhancing operational efficiency and reducing costs, the adoption of automation and smart valve solutions, technological advancements in valve design, increased emphasis on environmental sustainability, and a surge in industry-specific applications and customization.
The anticipated growth of the isolation valve market is closely tied to the expansion of the oil and gas industry. The oil and gas sector encompasses the global processes of exploring, mining, processing, transporting, and distributing petroleum and natural gas products, supplying energy to various sectors such as transportation, manufacturing, and power generation. Crucial to this industry are isolation valves, playing a key role in facilitating maintenance, repair, safety procedures, and controlling fluid or gas flow. An illustrative example is the remarkable 85.7% increase in Canada's total gross revenue in the oil and gas extraction industry, soaring from $93.7 billion in 2020 to $174.0 billion in 2021, as reported by Statistics Canada Highlights in September 2022. Consequently, the growth of the oil and gas industry is a driving force behind the expansion of the isolation valve market.
The growth of the isolation valves market is expected to be propelled by the expansion of the chemical industry. This expansion refers to the industry's growth and innovation, including increased capital investments in emerging fields such as batteries, recycling, and pyrolysis. In the chemical industry, isolation valves play a crucial role in ensuring safety, process control, and overall operational efficiency in chemical processing plants. The US Bureau of Labor Statistics reported a 13.4% growth in the trade value of chemical manufacturing products exported in 2022, amounting to $288.0 billion. Additionally, ACS Publications noted a recovery in the US chemical sector in 2021, with a 1.4% production growth, and anticipated a 4.3% growth rate in chemical output in 2022. Therefore, the expansion of the chemical industry is a driving factor in the growth of the isolation valves market.
Major players in the isolation valve market are strategically focusing on innovative product launches to enhance their product portfolios. For example, Kitz Corporation, a Japan-based valve manufacturer, introduced an extension bonnet ball valve in November 2022 to improve its low-temperature ball valve series. This extension bonnet design prevents stem sealing area freezing and features a vent hole on the ball to prevent excessive cavity pressure, catering to various industries such as oil and gas, water and wastewater treatment, and chemical processing. Furthermore, these companies offer a range of ball valves with safety features such as vented balls, blowout-proof stems, and prevention of lever misalignment, contributing to the overall safety and reliability of their products.
Major players are also focusing on innovation in explosion isolation valves to enhance industrial and manufacturing operations. In April 2022, Switzerland-based RICO Sicherheitstechnik launched the next generation of the VENTEX explosion isolation valve, featuring a wide range of innovations and optimizations. This passive protection against explosions offers enhanced flow velocity, improved pressure drop values, and advanced maintenance modalities, applicable in various settings where explosion isolation is crucial.
In December 2021, Severn Glocon UK Valves Limited, a UK-based valve producer for the energy sector, acquired ValvTechnologies, a US-based manufacturer of steel-seated, zero-leakage isolation valves for high-pressure applications. This undisclosed acquisition expands Severn's portfolio, diversifies its sectors, broadens its product offering, and enhances its international presence, ultimately benefiting from a combined approach to delivering on-site service support capabilities across all markets.
Major companies operating in the isolation valves market report are Emerson Electric Co, Orion Valves, KITZ Corporation, Spirax-Sarco Engineering PLC., Frank's International NV, The Weir Group PLC., Flowserve Corporation, Velan Inc., Crane Co, Trillium Flow Technologies, MKS Instruments Inc., Schlumberger Limited., Forbes Marshall, Baker Hughes Company, Colton Industries, Della Foglia Srl, American Expedition Vehicles, Weir Group PLC., Cameron International Corporation, Imperial Metal Industries Limited, Biocare Medical LLC, F Hoffmann-La Roche Ltd., Genemed Biotechnologies Inc., Thermo Fisher Scientific Inc., Biogenex Laboratories, Zytomed System GmbH, Bio-Techne Corporation, Bio SB Inc., Qiagen NV, PerkinElmer Inc., Abbott Laboratories, Merck KGaA
Asia-Pacific was the largest region in the isolation valve market in 2023. The regions covered in the isolation valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the isolation valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The isolation valve market consists of sales of gate valves, check valves, horizontal explosion isolation valves, and vertical explosion isolation valves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.