Industrial Valves Market is Reaching a Value of around USD 96 Billion by The End of 2027
The Global Industrial Valves Market is expected to register a CAGR of 3.8%, reaching a value of around USD 96 billion by the end of 2027.
Valves are mechanical devices used to control the flow and pressure of liquids, gases, and slurries within a system. They are also known as regulators and are available in a wide range of sizes, designs, functions, and operations.
Industrial Valves Market: Driver & Opportunity
Increasing Oil & Gas Exploration and Production
Major products of the oil and gas industry are fuel oil and gasoline (petrol). Petroleum is the primary material for a wide range of chemical products, including pharmaceuticals, fertilizers, solvents, and plastics.
Gas provides electricity and is also used for cooking, heating houses and buildings, and heating water. It is also used in industrial operations including glass and steel foundries, aluminum or nickel smelters, and many manufacturing industries. Gas is used in producing a wide range of industrial products, including plastics and polymers, textiles and paints and dyes. The rising demand for petroleum & natural gas products in almost every end-use industry has resulted in increased oil & gas exploration, which in turn, is likely to drive the demand for industrial valves.
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High Demand from Power Generation
Natural gas is widely used for generation of electricity due to its clean-burning nature. According to the GENERAL ELECTRIC, natural gas accounts for 23% of the world’s energy consumption at present and its usage continues to grow. According to the International Energy Agency, the global electricity demand will grow at 2.1% per year to 2040, twice the rate of primary energy demand. Demand for electricity is set to increase further as a result of rising household incomes, with the electrification of transport and heat, and growing demand for digitally connected devices and air conditioning.
Thus, the high demand for power generation is likely to propel the market growth during the assessment period.
Fluctuations of Raw Material Prices
A number of materials such as steel, titanium, aluminium, copper, and others can be used for the manufacturing of valves. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the assessment period. Fluctuations in raw material prices is attributed to the mining and extraction of the raw materials, which are dependent on geological and geopolitical factors. Additionally, non-metallic materials such as nitrile butadiene rubber, ethylene propylene diene monomer, polyamide, among others are used. These are petroleum-based products, which add up the cost on account of the supply-demand gap of crude oil.
Therefore, fluctuations in raw material prices are expected to hamper the market growth during the review period.
Industrial Valves Market: Key Segments
- Segmentation based on valve type: Control, Butterfly, Ball, Check, Globe, Gate, Plug, Diaphragm, and Others.
- Segmentation based on material: Metallic, and Non-metallic.
- Segmentation based on size: Less than 1”, 1–6”, 6–25”, 25–50”, and 50” and above
- Segmentation based on application: Oil & Gas, Water & Wastewater Treatment, Energy & Power Generation, Chemical Processing, Food & Beverages, Pharmaceuticals, Building & Construction, Pulp & Paper, and Others.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Industrial Valves Market: Report Scope
The report on the Industrial Valves Market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Industrial Valves Market include:
- Schlumberger Limited (US) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- CIRCOR International, Inc. (US)
- Flowserve Corporation (US)
- PARKER HANNIFIN CORP. (US)
- Metso Corporation (Finland)
- Baker Hughes (US)
- Emerson Electric Co.(US)
- ALFA LAVAL (Sweden)
- L&T Valves Limited (India)
- AVK Holding A/S (Denmark)
- KITZ Corporation (Japan)
- Curtiss-Wright Corporation (US)
- Other Key Companies
Industrial Valves Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Valves Market, by Valve Type
- Standard Plate Gate Valves
- Wedge Gate Valves
- Knife Gate Valves
- Others (Poppet, Sleeve, Solenoid, Double Block & Bleed, etc.)
Industrial Valves Market, by Material
- Nitrile Butadiene Rubber
- Ethylene Propylene Diene Monomer
Industrial Valves Market, by Size
- Less than 1”
- 50” and above
Industrial Valves Market, by End-Use Industries
- Oil & Gas
- Water & Wastewater Treatment
- Energy & Power Generation
- Chemical Processing
- Food & Beverages
- Building & Construction
- Pulp & Paper
- Others (Agriculture, Mining, Textiles, Glass, etc.)
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Industrial Valves Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- GLOBAL Industrial Valves Market BY VALVE TYPE, Market Size in USD Million (2019–2027)
- GLOBAL Industrial Valves Market BY MATERIAL, Market Size in USD Million (2019–2027)
- GLOBAL Industrial Valves Market BY SIZE, Market Size in USD Million (2019–2027)
- GLOBAL Industrial Valves Market BY END-USE INDUSTRIES, Market Size in USD Million (2019–2027)
- GLOBAL Industrial Valves Market BY REGION, Market Size in USD Million (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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