Industrial Valves Market

Industrial Valves Market Size:

The global industrial valves market size reached US$ 73.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 128.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032. Rapid industrialization, rising focus on energy efficiency, constant technological advancements, globalization of trade, stringent government regulations regarding safety and environmental standards, increasing replacement and upgradation of aging infrastructure, and the bolstering growth of the oil and gas industry represents some of the key factors influencing the market growth.

Industrial Valves Market Analysis:

• Market Growth and Size: The global industrial valves market is experiencing robust growth, driven by factors like increasing industrialization, infrastructure development, and a focus on energy efficiency. The market size is steadily expanding due to the rising demand for valves across diverse industries, including oil and gas, power, pharmaceuticals, water and wastewater treatment, and chemical processing.
• Major Market Drivers: Industrialization and globalization of trade are key drivers, fostering the demand in sectors such as oil and gas, where precise fluid control is essential. Besides this, the push for energy efficiency and sustainability fuels the adoption of advanced valve technologies, leading to increased market demand.
• Technological Advancements: Ongoing technological advancements, including the integration of the Industrial Internet of Things (IIoT) and smart control systems, contribute to the development of innovative valves offering real-time monitoring and predictive maintenance capabilities. Moreover, materials with superior corrosion resistance and durability, coupled with improved manufacturing processes, enhance the performance and longevity of industrial valves.
• Industry Applications: Industrial valves find critical applications across various sectors, from oil and gas exploration to water and wastewater treatment, catering to the diverse needs of different industries. Concurrent with this, valves play a pivotal role in ensuring precise control in pharmaceutical manufacturing, chemical processing, and power generation applications.
• Key Market Trends: The market trends indicate a shift towards eco-friendly valve solutions, aligning with the growing emphasis on sustainability in industrial processes. Mergers, acquisitions, and strategic collaborations are prominent trends, enabling companies to expand product portfolios and geographical reach.
• Geographical Trends: In Asia Pacific, rapid industrialization, infrastructural development, and energy efficiency initiatives drive significant demand for industrial valves. Apart from this, Europe, North America, Latin America, the Middle East, and Africa each exhibit unique trends, with factors like stringent environmental regulations and oil and gas activities influencing demand.
• Competitive Landscape: The competitive landscape features established players and emerging competitors focusing on innovation, product differentiation, and strategic collaborations to gain a competitive edge.
• Challenges and Opportunities: Challenges include the need to address stringent industry regulations and standards, ensuring the reliability and safety of valves in diverse applications. Meanwhile, opportunities lie in continuous technological advancements, expanding applications, and the potential for market players to leverage collaborations and acquisitions for growth and market presence.
   

Industrial Valves Market Trends:

Increasing industrialization and infrastructure development

One of the primary factors fueling the growth of the global industrial valves market is the ongoing trend of industrialization and infrastructure development across the globe. As countries strive to enhance their economic activities and meet the demands of a growing population, there is a substantial increase in the establishment of industrial facilities, power plants, water treatment plants, and other infrastructure projects. These developments necessitate the deployment of advanced and efficient industrial valves to regulate the flow of fluids and ensure optimal operation of various processes. In addition to this, rapid urbanization and the expansion of manufacturing sectors are major contributors to the increased demand for industrial valves.

Growing focus on energy efficiency

The global push towards sustainability and energy efficiency is another key driver influencing the industrial valves market. With concerns about environmental impact and the need to reduce energy consumption, industries are increasingly adopting technologies that promote efficiency in fluid handling processes. Modern industrial valves are designed with features such as improved sealing mechanisms, reduced leakage, and enhanced durability, contributing to overall energy conservation. Concurrently, stringent regulations and standards regarding energy efficiency and environmental impact have compelled industries to invest in advanced valve technologies with smart control systems and automation capabilities allowing for better monitoring and optimization of energy consumption, thus creating a positive outlook for market expansion.

Technological advancements and innovation

The industrial valves market is witnessing a significant influx of technological advancements and innovations, with manufacturers investing in research and development (R&D) to introduce new product variants with enhanced features, improved performance, and extended lifespan. In confluence with this, the integration of digital technologies, such as IIoT and sensors, into valve systems leading to the development of smart valves that offer real-time monitoring, remote control, and predictive maintenance capabilities is propelling the forward. Additionally, the adoption of materials with superior corrosion resistance and durability, coupled with advancements in valve design and manufacturing processes, has led to the creation of valves that can withstand harsh operating conditions, contributing to the market expansion.

Globalization of trade and cross-border investments

The globalization of trade and the increase in cross-border investments contribute significantly to the growth of the industrial valves market. Industries are expanding their operations globally, leading to the construction of new facilities and upgrading of existing ones. This global expansion requires the implementation of standardized and reliable fluid control systems, driving the demand for industrial valves. In confluence with this, the rise in cross-border investments in sectors such as oil and gas, petrochemicals, and water infrastructure further propels the demand for industrial valves. As multinational companies seek to establish a global presence and optimize their supply chains, the need for efficient and high-performance industrial valves becomes paramount.

Industrial Valves Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, functionality, material, size and end use industry.

Breakup by Product Type:

• Gate Valve
• Globe Valve
• Butterfly Valve
• Ball Valve
• Check Valve
• Plug Valve
• Others
   

Ball valve dominates the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes gate valve, globe valve, butterfly valve, ball valve, check valve, plug valve, and others. According to the report, the ball valve represented the largest segment.

The demand for ball valves in the industrial valves market is propelled by their unique design, offering precise control and shut-off capabilities. Ball valves are preferred in various industries due to their compact structure, low maintenance requirements, and ability to handle high-pressure applications. In line with this, the simplicity of their operation and efficient flow control make them integral in sectors such as oil and gas, where reliable performance and durability are crucial, contributing significantly to the sustained demand for ball valves globally.

Besides this, the demand for gate valves is driven by their ability to provide a tight seal and low fluid resistance. Commonly used in applications requiring on/off control, gate valves find prominence in the oil and gas industry.

Moreover, globe valves are in demand due to their precise flow control capabilities and are widely used in industries such as water treatment and heating, ventilation, and air conditioning (HVAC), offering reliable performance and efficient regulation of fluid flow.

Along with this, butterfly valves are sought after for their versatility, cost-effectiveness, compact design, and quick operation, which make them ideal for applications where space is a constraint, such as in the chemical and food processing industries.

Additionally, check valves are essential for preventing backflow and maintaining fluid direction, fueling their demand in industries such as wastewater treatment and power generation to ensure the unidirectional flow of fluids, enhancing system efficiency.

Apart from this, the demand for plug valves stems from their simple design and suitability for handling abrasive and corrosive fluids. They are extensively employed in the chemical and petrochemical industries, plug valves provide reliable shut-off and flow control.

Various other types of industrial valves, including diaphragm valves, pinch valves, and control valves, cater to specialized applications. Their demand is propelled by the need for tailored solutions in industries like pharmaceuticals and semiconductor manufacturing, where precise fluid control is paramount.

Breakup by Functionality:

• On-Off/Isolation Valves
• Control Valves
   

On-off/isolation valves hold the largest share in the market

A detailed breakup and analysis of the market based on the functionality have also been provided in the report. This includes on-off/isolation valves and control valves. According to the report, on-off/isolation valves accounted for the largest market share.

The demand for on-off/isolation valves in the industrial valves market is primarily driven by their critical role in providing a reliable shut-off function within a fluid-handling system. Industries, especially in sectors like power generation and chemical processing, rely on these valves to effectively control the flow of liquids or gases by either allowing or halting the passage. Concurrent with this, the growing emphasis on safety and operational efficiency fuels the sustained demand for on-off/isolation valves, ensuring seamless and secure isolation of various process streams.

In contrast, the demand for control valves in the industrial valves market is fueled by their pivotal role in regulating fluid flow with precision and accuracy. Industries such as petrochemicals, refining, and pharmaceuticals heavily rely on control valves to maintain optimal process conditions. These valves facilitate continuous adjustments in flow rates, pressures, and temperatures, ensuring efficient and controlled operations. With the increasing emphasis on process automation and advanced control systems, the demand for sophisticated and reliable control valves continues to grow globally.

 Breakup by Material:

• Steel
• Cast Iron
• Alloy Based
• Others
   

Steel dominates the market

The report has provided a detailed breakup and analysis of the market based on the material. This includes steel, cast iron, alloy based, and others. According to the report, steel represented the largest segment.

The demand for steel-based industrial valves is propelled by the material's inherent strength, durability, and resistance to corrosion, making it well-suited for challenging industrial environments. In line with this, steel valves are extensively used in sectors like oil and gas, chemical processing, and power generation, where they withstand harsh operating conditions. Their robust construction ensures a longer lifespan and reliability, addressing the stringent requirements of industries that prioritize safety, longevity, and optimal performance in fluid control systems.

In confluence with this, the demand for cast iron industrial valves is driven by the material's cost-effectiveness, excellent machinability, and resistance to wear and abrasion. They are commonly used in water and wastewater applications, providing reliable performance.

Moreover, alloy-based industrial valves are in demand due to their enhanced corrosion resistance and suitability for extreme temperatures. Industries such as petrochemicals and aerospace rely on these valves for optimal performance in challenging environments.

Various other materials, including plastics and ceramics, cater to specific industrial needs. Plastics offer corrosion resistance, while ceramics excel in applications requiring high wear resistance. These diverse material options ensure a tailored approach to fluid control solutions in various industries, strengthening the market growth.

Breakup by Size:

• Upto 1”
• 1”-6”
• 7”-25”
• 26”-50”
• 51” and Above
   

1"-6" holds the largest share in the market

A detailed breakup and analysis of the market based on the size have also been provided in the report. This includes up to 1”, 1”-6”, 7”-25”, 26”-50”, and 51” and above. According to the report, 1"-6" accounted for the largest market share.

The demand for industrial valves in the 1"-6" size range is driven by their versatility and applicability in a wide range of industries. These valves find extensive use in processes where moderate flow rates and precise control are essential. Sectors like water and wastewater treatment, HVAC, and general manufacturing benefit from the compact size and efficient performance of valves in this range. Their flexibility makes them suitable for diverse applications, contributing to sustained demand globally.

Besides this, the demand for industrial valves in sizes up to 1" is driven by their suitability for applications requiring precise flow control in small-scale processes, such as laboratory setups and compact systems in various industries.

Furthermore, valves in the 7"-25" size range are in demand for medium-sized industrial applications, offering a balance between flow capacity and space considerations. They find use in sectors like chemical processing and power generation.

In confluence with this, the demand for valves in the 26"-50" size range is propelled by their capability to handle higher flow rates in large-scale industrial processes, including water treatment plants, refineries, and petrochemical facilities.

Additionally, industrial valves with sizes of 51" and above are essential for handling extremely high flow rates in large-scale industrial operations such as pipeline systems and major water distribution networks, contributing to their sustained demand.

Breakup by End Use Industry:

• Oil and Gas
• Power
• Pharmaceutical
• Water and Wastewater Treatment
• Chemical
• Food and Beverage
• Others
   

Oil and gas dominate the market

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes oil and gas, power, pharmaceutical, water and wastewater treatment, chemical, food and beverage, and others. According to the report, oil and gas represented the largest segment.

The demand for industrial valves in the oil and gas industry is propelled by the sector's intricate processes requiring precise flow control, reliability, and durability. Valves play a crucial role in exploration, production, refining, and distribution operations. With the industry's continuous expansion and increasing focus on efficiency and safety, the need for technologically advanced valves remains high, ensuring optimal performance in critical applications such as wellhead control, pipeline transportation, and refinery processes.

Concurrently, in the power industry, the demand for industrial valves is driven by their integral role in controlling steam, water, and other fluids in power generation plants, ensuring efficient and safe operations.

Alongside this, the pharmaceutical industry’s increasing demand for industrial valves to enable precise fluid control in drug manufacturing processes, thereby adhering to strict quality and hygiene standards to ensure the integrity of pharmaceutical products is acting as another significant growth-inducing factor.

Furthermore, the widespread product adoption across the water and wastewater treatment facilities for regulating the flow of liquids, optimizing treatment processes, and ensuring the reliable operation of water distribution systems is bolstering the market growth.

In line with this, In the chemical industry, the demand for industrial valves arises from their necessity in handling corrosive substances, providing accurate flow control, and maintaining the safety of chemical processes, thereby strengthening the market growth.

Moreover, the surging use of industrial valves across the food and beverage (F&B) industry for controlling the flow of liquids, gases, and steam during various production stages is influencing the market expansion.

Apart from this, various other industries, including semiconductor manufacturing, mining, and automotive, rely on industrial valves for specific applications, showcasing the versatility and adaptability of these critical components across diverse sectors, which is boosting the market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest industrial valves market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The demand for industrial valves in Asia Pacific is driven by rapid industrialization, infrastructural development, and the increasing focus on energy efficiency in the region. Countries like China and India are witnessing robust growth in sectors such as manufacturing, power generation, and water treatment, leading to a heightened need for advanced valves. In addition to this, the globalization of industries and cross-border investments further contribute to the escalating demand for industrial valves in the Asia Pacific region, making it a key market player.

Moreover, Europe’s stringent environmental regulations, emphasizing energy efficiency and sustainable practices, driving industries to adopt advanced valve technologies for enhanced control and efficiency are presenting lucrative opportunities for market expansion.

Besides this, the robust oil and gas activities in North America, substantial investments in shale gas exploration, and the need for advanced valves in water treatment and power generation facilities are propelling the market forward.

Furthermore, Latin America's expanding industrial sectors, particularly in mining, oil and gas, and water management, where valves play a crucial role in process optimization and resource utilization are aiding in market expansion.

In confluence with this, the Middle East and Africa region's prominence in the oil and gas industry, necessitating high-performance valves for critical applications in extraction, refining, and distribution processes is positively impacting the market growth.

Leading Key Players in the Industrial Valves Industry:

The competitive landscape of the global industrial valve market is characterized by a diverse array of players vying for market share. Key industry participants include well-established companies as well as emerging players. Intense competition compels companies to focus on technological innovation, product differentiation, and strategic collaborations to gain a competitive edge. The market also witnesses mergers and acquisitions as a means for companies to expand their product portfolios and geographical presence. Additionally, a growing emphasis on sustainability and energy efficiency has led to the development of eco-friendly valve solutions. Overall, the competitive dynamics in the global industrial valves market are shaped by a combination of technological advancements, strategic initiatives, and a commitment to meeting the evolving demands of diverse industries.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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
• Velan Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News: 

• In October 2023, AVK Holding A/S acquired 100% interest in the Bayard and Belgicast Groups, known for their hydrants, gate valves, butterfly valves, pressure control, and regulation valves.
• In October 2023, Crane Company announced the acquisition of Baum Lined Piping GmbH. This acquisition is expected to bolster Crane’s portfolio in the Process Flow Technologies segment, further strengthening its position in the industrial valves market.
• In February 2023, announced an all-cash transaction to acquire Velan Inc., a leading manufacturer of industrial valves with a strong presence in the nuclear, cryogenic, and defense markets. This acquisition is expected to add significant value to Flowserve’s existing valves portfolio and enhance its aftermarket potential.

Industrial Valves Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the industrial valves market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global industrial valves market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the industrial valves industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.