Industrial Valves Market Size, Share, Growth and Forecast 2032

Industrial Valves Market Insights

Zion Market Research has published a report on the global Industrial Valves Market, estimating its value at USD 79.96 Billion in 2023, with projections indicating that it will reach USD 126.4 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.22% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Industrial Valves Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Industrial Valves Market: Overview                    

Industrial valves are used in various process industries for regulation, direction, and control of gases, liquids, vapors, and others. The raw material used for the manufacturing of Industrial valves are carbon steel, cast iron, stainless steel, and other. It has high functioning metal alloys to obtain efficient flow control in industries such as water & waste water, oil & power, food & beverages, chemicals, and others.

The entrance of new players in the Industrial Valves market is also set to propel the market growth For instance, in August 2018, Velan Inc.’s completely controlled subsidiary situated in Italy has been offered essential contracts for the supply of 3 different kinds of valves. The contract also states to supply these valves to MODEC Offshore Production Systems. Now, MODEC Offshore Production Systems is a firm located in Singapore. These orders have a total sales value of almost $18 Million and are planned for delivery by early 2019, thereby driving the profit for global industrial valves market.

Industrial Valves Market: Growth Factors

Developing nations such as China, India, and Brazil are incessantly branching out their industrial infrastructure, thereby flourishing the development of global industrial valves market. Increasing urbanization has resulted in global industrial valves market to develop rapidly from the last couple of years. Rising offshore gas and oil projects all over the world, reduced operating costs, rising demand from process & manufacturing sector due to enhanced safety, and enduring efforts to extend water infrastructures in developing nations are the major reasons likely to favor the development of global industrial valves market.  

On the other hand, vagueness in crude oil costs that makes the project fiscally unstable might hinder the growth of global industrial valves market in the coming years. Nevertheless, increasing requirement of energy from all sections is likely to open up new opportunities of development for the global industrial valves market in the years to come.

Industrial Valves Market: Segment Analysis Preview  

On the basis of Type, Industrial Valves market has been divided as Gate, Butterfly, Ball, Check, Globe. Ball valve held the major share in the market. Ball valves are straight-through & quarter-turn valves employed in conditions where tight shut-off is needed.

On the basis of application, the market is segmented into Oil & Gas, Chemical, Power, Water & Wastewater and Other. Employment of gate valves in application industry such as gas & oil industry, manufacturing, pharmaceuticals, marine, and automotive is likely to experience noteworthy growth for the global industrial valves market in the forecast period.

Industrial Valves Market: Report Scope

Industrial Valves Market: Regional Analysis Preview  

Rising offshore gas and oil projects all over the world, reduced operating costs, rising demand from process & manufacturing sector due to enhanced safety, and enduring efforts to extend water infrastructures in developing nations are the major reasons likely to favor the development of global industrial valves market.

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Industrial Valves Market Players & Competitive Landscape

The major players operating Industrial Valves market are

• Alfa Laval
• Velan Inc.
• Delta Pacific Valves Ltd.
• GWC Valve International Inc.
• Cameron International
• Goodwin Plc
• Camtech Valves
• Pentair Plc
• Neway Valve (Suzhou) Co., Ltd
• Valvitalia S.P.A 

The global Industrial Valves Market is segmented as follows:

By Type

• Gate valve
• Butterfly valve
• Ball valve
• Check valve
• Globe valve

By Applications   

• Oil & gas
• Chemical
• Power
• Water & wastewater
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa