Global Industrial Valves Market to Reach US$ 128.6 Billion by 2032, Propelled by Rising Demand for Industrial Automation

March 27, 2023 | Heavy Industry

According to the latest report by IMARC Group, titled “Industrial Valves Market Report by Product Type (Gate Valve, Globe Valve, Butterfly Valve, Ball Valve, Check Valve, Plug Valve, and Others), Functionality (On-Off/Isolation Valves, Control Valvesiv), Material (Steel, Cast Iron, Alloy Based, and Others), Size (Upto 1”, 1”-6”, 7”-25”, 26”-50”, 51” and Above), End Use Industry (Oil and Gas, Power, Pharmaceutical, Water and Wastewater Treatment, Chemical, Food and Beverage, and Others), and Region 2024-2032," the global industrial valves market size reached US$ 73.7 Billion in 2023. Industrial valves are devices used to regulate, control, and direct the flow of liquids, gases, and other substances in pipelines. Some of the commonly used industrial valves include ball, butterfly, gate, globe, diaphragm, check, needle, and pressure relief valves. They are manufactured using various high-strength and corrosion-resistant raw materials, such as stainless steel, brass, bronze, and plastics. Industrial valves are widely used in wastewater treatment, chemical processing, power generation, irrigation systems, oil and gas pipelines, research laboratories, and manufacturing facilities. They are cost-effective, versatile, reliable, and highly durable products that offer extended service life and require minimal maintenance. Industrial valves also improve the efficiency and safety of industrial processes and prevent leakage, spills, and other hazardous incidents.

Global Industrial Valves Market Trends:

The rising demand for automation in industrial processes is one of the primary factors driving the market growth. Industrial valves are widely used in industrial automation processes to enable remote operations and allow precise control and regulation of flow rate, temperature, and pressure, which, in turn, enhances safety, reduces downtime, increases production, and improves equipment effectiveness. Furthermore, the increasing product application in the oil and gas industry to regulate and control the pressure and flow of crude oil, natural gas, and other fluid in pipelines, storage tankers, and refining facilities is providing an impetus to the market growth. Additionally, the adoption of three-dimensional (3D) printing technology to produce complex valve components with high precision and accuracy, which aids in saving costs, improving the design, reducing production time, and enhancing product performance, is positively influencing the market growth. Apart from this, the recent development of ceramic industrial valves that provides self-lubricating properties, long service life, and can withstand extreme temperature and pressure conditions is favoring the market growth. Moreover, the implementation of various government initiatives on minimizing emissions, preventing leakages, and reducing hazardous incidents due to the growing emphasis on worker safety is providing a thrust to the market growth. Other factors, including rapid industrialization activities, increasing investment in the research and development (R&D) of advanced products, and easy product availability across e-commerce platforms, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 128.6 Billion by 2032, exhibiting a CAGR of 6.2% during 2024-2032.

Market Summary:

  • On the basis of product type, the market has been divided into gate, globe, butterfly, ball, check, plug, and other valves.
  • Based on the functionality, the market has been classified into on-off/isolation valves and control valves.
  • On the basis of material, the market has been divided into steel, cast iron, alloy based, and others.
  • Based on the size, the market has been classified into up to 1”, 1”-6”, 7”-25”, 26”-50”, and 51” and above.
  • On the basis of end use industry, the market has been divided into oil and gas, power, pharmaceutical, water and wastewater treatment, chemical, food and beverage, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa. Among these, North America is the leading market.
  • The competitive landscape of the industry has also been examined, with some of the key players being AVK Holding A/S, Cameron International Corporation (Schlumberger), The Crane Company, Emerson Electric Co., Flowserve Corporation, Forbes Marshall, IMI Plc, Kitz Corporation, Neway Valves (Suzhou) Co. Ltd., Samson AG and Velan Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Functionality, Material, Size, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AVK Holding A/S, Cameron International Corporation (Schlumberger), The Crane Company, Emerson Electric Co., Flowserve Corporation, Forbes Marshall, IMI Plc, Kitz Corporation, Neway Valves (Suzhou) Co. Ltd., Samson AG and Velan Inc.
Customization Scope 10% Free Customization
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Global Industrial Valves Market to Reach US$ 128.6 Billion by 2032, Propelled by Rising Demand for Industrial Automation
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