Industrial Valves Market Size
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 70.97 Billion |
| Market Size (2029) | USD 88.53 Billion |
| CAGR (2024 - 2029) | 4.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Industrial Valves Market Analysis
The Industrial Valves Market size is estimated at USD 70.97 billion in 2024, and is expected to reach USD 88.53 billion by 2029, growing at a CAGR of 4.52% during the forecast period (2024-2029).
The oil and gas industry is one of the key industries that use valves. The industry was negatively impacted during the lockdown because of the outbreak of the COVID-19 pandemic in 2020. Owing to the global rise in vaccinations and government initiatives to boost the economy, the oil and gas industry started to recover with other industries, leading to increased demand for industrial valves.
Over the short term, the major factors driving the market studied are the growing demand from the power and chemical industries. The increase in demand for desalination activity has also driven the market's growth.
However, stagnant industrial growth in developed countries is expected to hinder the growth of the market studied.
Nevertheless, an increase in demand for automatic valves is expected to increase the demand for industrial valves over the forecast period.
The Asia-Pacific region is expected to dominate the market and register the highest CAGR during the forecast period.
Industrial Valves Market Trends
Increasing Demand from the Power Industry
- In the power industry, valves are used for various applications, such as boiler startups, feed pump recirculation, steam conditioning, and turbine bypass.
- For instance, valves in the condensate system control and regulate the additional flow required for a fluid recirculation condensate pump. Furthermore, valves control the deaerator level for the feedwater heater.
- In the power industry's feedwater system, valves are used for boiler feed pump recirculation. The valve plays a key role in this scenario, as it should be operated in on-off and modulating service.
- Additionally, in mainstream systems, the valves are used for superheaters, turbine bypass, superheater bypass, etc. A modulating valve is used for controlling pressure.
- The global electricity demand is estimated to grow by 75% by 2030. Although renewable energy is proliferating, the scale of electricity produced by it is not enough to satiate the rapidly growing demand.
- According to the World Energy Outlook- International Energy Agency forecast, more than 2,457 gigawatts (GW) of power capacity is expected to be installed worldwide over the next 25 years.
- For instance, according to the Union Power and New & Renewable Energy Minister of India, the country will likely achieve its 500GW renewable energy target before the 2030 deadline. As of 2023, India had 424 GW of power generation capacity, which included around 180 GW from non-fossil fuels and another 88 GW in the works.
- Hence, the globally growing demand for power will significantly increase the power industry's demand for industrial valves during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominates the global market share. With growing oil and gas industrial activities and the increasing need for water treatment in countries such as China, India, and Japan, the usage of industrial valves is increasing in the region.
- The Asia-Pacific region is the leading contributor to the world's specialty chemicals economy, holding a significant revenue share of nearly 36%.
- Southeast Asia started a total of 54 oil and gas projects across six countries for the timeline 2021 to 2025. Together, they would represent about 223,000 barrels per day of global crude production and about 8.1 billion cubic feet per day of global gas production in 2025.
- Wastewater treatment plants are also being increasingly produced following massive industrialization in countries such as China, India, and the ASEAN region. For instance, according to the Department for Promotion of Industry and Internal Trade of India, the annual growth rate for industrial production in India registered a growth rate of over 11% in the financial year 2022.
- Moreover, in 2024, the government of Delhi, India, worked towards building Asia鈥檚 largest wastewater treatment plant, with a sewage water treatment capacity of about 564 million liters per day (MLD).
- The factors mentioned above, coupled with government support, are expected to contribute to the increasing demand for industrial valves consumption in the region during the forecast period.
Industrial Valves Industry Overview
The industrial valves market is highly fragmented, with the top ten players accounting for less than 15% of the total market share. The major companies (not in any particular order) include SLB, Emerson Electric Co., Flowserve Corporation, IMI, and Crane Co., among others.
Industrial Valves Market Leaders
-
Emerson Electric Co.
-
Flowserve Corporation
-
Crane Co.
-
IMI
-
SLB
*Disclaimer: Major Players sorted in no particular order
Industrial Valves Market News
- September 2023: Danfoss India opened a new India distribution center in Chennai, India, that is spread over 43,000 square feet and has a 4,000 pallet position facility to support growth plans. This new distribution unit will likely aggregate Danfoss products from Asia, Europe, Latin America, and Denmark.
- February 2023: Flowserve Corporation acquired Velan Inc. in an all-cash transaction valued at USD 245 million, including the purchase of all of the issued and outstanding Velan equity and the assumption. The acquisition added significant value to Flowserve Corporation鈥檚 existing valves portfolio.
- November 2022: IMI Saudi Industry, a subsidiary of IMI Critical Engineering, unveiled a new 5,000 m2 facility in Dammam. The facility was expected to supply innovative valve solutions and strengthen national manufacturing capabilities, in line with the Saudi Arabian government's plans to localize key products.
- November 2022: James Walker introduced the Supagraf HT valve stem seal for molten salt media. It could bear ultra-high temperatures combined with chemically aggressive and corrosive media such as molten salts, providing some of the most demanding conditions for valves, process equipment, and products used to seal such applications.
Industrial Valves Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Power and Chemical Industry
4.1.2 Increase in Demand for Desalination Activity
4.2 Restraints
4.2.1 Stagnant Industrial Growth in Developed Countries
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Butterfly Valve
5.1.2 Ball Valve
5.1.3 Globe Valve
5.1.4 Gate Valve
5.1.5 Plug Valve
5.1.6 Other Types
5.2 Product
5.2.1 Quarter-turn Valve
5.2.2 Multi-turn Valve
5.2.3 Other Products
5.3 Application
5.3.1 Power
5.3.2 Water and Wastewater Management
5.3.3 Chemicals
5.3.4 Oil and Gas
5.3.5 Other Applications (Includes Food Processing, Mining, and Marine)
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Indonesia
5.4.1.6 Vietnam
5.4.1.7 Malaysia
5.4.1.8 Thailand
5.4.1.9 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 NORDIC
5.4.3.6 Turkey
5.4.3.7 Russia
5.4.3.8 Spain
5.4.3.9 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Colombia
5.4.4.4 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 United Arab Emirates
5.4.5.4 Qatar
5.4.5.5 Nigeria
5.4.5.6 Egypt
5.4.5.7 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALFA LAVAL
6.4.2 AVK Holding AS
6.4.3 CIRCOR International Inc.
6.4.4 Crane Co.
6.4.5 Curtiss-Wright Corporation
6.4.6 Danfoss AS
6.4.7 Zhejiang Dunan Valve Co. Ltd.
6.4.8 Emerson Electric Co.
6.4.9 Flowserve Corporation
6.4.10 Baker Hughes
6.4.11 Georg Fischer Ltd.
6.4.12 Hitachi Ltd
6.4.13 Honeywell International Inc.
6.4.14 IMI
6.4.15 ITT Inc.
6.4.16 KITZ Corporation
6.4.17 KLINGER Group
6.4.18 Mueller Water Products Inc.
6.4.19 NIBCO Inc.
6.4.20 Okano Valve Mfg. Co. Ltd.
6.4.21 Saint-Gobain
6.4.22 SLB
6.4.23 TechnipFMC PLC
6.4.24 The Weir Group PLC
6.4.25 Valvitalia SpA
6.4.26 Xylem
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increase in Demand for Automatic Valves
Industrial Valves Industry Segmentation
Industrial valves are mechanical devices that open, close, or partially obstruct passageways to regulate the flow of liquid or gas within a system.
The industrial valve market is segmented by type, product, application, and geography. By type, the market is segmented into butterfly valve, ball valve, globe valve, gate valve, plug valve, and other types (needle valve, etc.). By product, the market is segmented into the quarter-turn valve and multi-turn valve. By application, the market is segmented into power, water and wastewater management, chemicals, oil and gas, and other applications, including food processing, mining, and marine. The report also covers the market size and forecasts for the market in 27 countries across major regions.
For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).
| Type | |
| Butterfly Valve | |
| Ball Valve | |
| Globe Valve | |
| Gate Valve | |
| Plug Valve | |
| Other Types |
| Product | |
| Quarter-turn Valve | |
| Multi-turn Valve | |
| Other Products |
| Application | |
| Power | |
| Water and Wastewater Management | |
| Chemicals | |
| Oil and Gas | |
| Other Applications (Includes Food Processing, Mining, and Marine) |
| Geography | |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
|
Industrial Valves Market Research FAQs
How big is the Industrial Valves Market?
The Industrial Valves Market size is expected to reach USD 70.97 billion in 2024 and grow at a CAGR of 4.52% to reach USD 88.53 billion by 2029.
What is the current Industrial Valves Market size?
In 2024, the Industrial Valves Market size is expected to reach USD 70.97 billion.
Who are the key players in Industrial Valves Market?
Emerson Electric Co., Flowserve Corporation, Crane Co., IMI and SLB are the major companies operating in the Industrial Valves Market.
Which is the fastest growing region in Industrial Valves Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Valves Market?
In 2024, the Asia Pacific accounts for the largest market share in Industrial Valves Market.
What years does this Industrial Valves Market cover, and what was the market size in 2023?
In 2023, the Industrial Valves Market size was estimated at USD 67.76 billion. The report covers the Industrial Valves Market historical market size for years: . The report also forecasts the Industrial Valves Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major drivers influencing the Industrial Valves Market growth?
The major drivers influencing the Industrial Valves Market growth are a) Increasing demand from industries such as healthcare, pharmaceuticals, and construction b) Adoption of smart city initiatives leading to the deployment of connected networks c) Rising need for valves in power plants, especially with the establishment of new nuclear plants and revamping existing ones
Industrial Valves Industry Report
The Global Industrial Valves Market Research Report is segmented by type, product, application, and geography. The market is experiencing significant growth, driven by diverse applications across industries such as energy & power, water & wastewater treatment, and pharmaceuticals. Industrial valve companies are leading this expansion with a broad range of products including globe, gate, and butterfly valves, tailored to control, direct, and regulate fluid flow in high-pressure environments.
Materials like steel and cast iron are preferred for their durability and efficiency. Innovations like AI integration and remote monitoring are enhancing valve functionalities, optimizing operations, and minimizing downtime by predicting failures and ensuring system integrity. There's a rising demand for valves capable of handling extreme conditions in power plants and other critical applications.
The Asia-Pacific region dominates the market share due to rapid industrialization and infrastructure advancements. Overall, the industrial valves market is set for ongoing growth, driven by technological advancements and expanding applications in essential sectors.
For detailed statistics, market share, size, and revenue growth insights, refer to 糖心vlog传媒鈩� Industry Reports, which include market forecasts and a historical overview. Download a free report PDF sample for more in-depth analysis.
