Oil and Gas Valves Market Size, Share & Growth Report 2032

Oil and Gas Valves Market: Industry Perspective

The global oil and gas valves market size was worth around USD 6.14 billion in 2023 and is predicted to grow to around USD 9.13 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.52% between 2024 and 2032. The rising energy demand and an increasing number of oil and gas projects in the pipeline will drive the oil and gas valves market in the years to come

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The report on the oil and gas valves market provides a comprehensive glance at a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion) and volume (K Units). The study covers the key drivers and restraints of the oil and gas valves market and provides their market impact over the forecast period. Furthermore, the study also includes the opportunities accessible in the oil and gas valves market on a global level.

Oil and Gas Valves Market: Growth Drivers

An oil and gas valve is a controlled device that regulates the flow of liquid by the variable. The dimension of the flow passageway of gas or fluid in a system is guided by a signal from a specific controller. These oil and gas valves are utilized to maintain operational different situations, such as liquid level, pressure, flow, and temperature.

The oil and gas valves market is likely to experience significant growth in the upcoming years, owing to the expansion of the power generation industry, robust industrialization, and substantial developments witnessed by technologies using mechanical engineering-based procedures. The rising energy demand and an increasing number of oil and gas projects in the pipeline are also expected to drive the oil and gas valves market in the years to come. However, the lack of skilled labors for operating these oil and gas valves may hamper the oil and gas valves market development on the global level.

Alternatively, the escalating valves demand for IoT and Industry 4.0 architecture by various industries situated in the emerging countries is likely to generate new growth opportunities for the major players of the market in the future.

In order to offer the users a comprehensive read on the oil and gas valves market, we have enclosed a detailed value chain analysis. To know the competitive landscape in the market, an analysis of Porter’s Five Forces model for the oil and gas valves market has additionally been enclosed. The study includes a market attractiveness analysis, wherein all the segments are benchmarked to support their market size, growth rate, and general attractiveness.

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The study also includes the market share of the key participants operating in the oil and gas valves market across the globe. Additionally, the report covers the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations & joint ventures, and regional growth of the key players in the market on a regional basis.

Oil and Gas Valves Market: Segmentation

The oil and gas valves market is fragmented on the basis of valve type, body material, valve size, and application.

On the basis of valve type, the oil and gas valves market includes butterfly, ball, globe, gate, check, and pressure reducing valves. By body material, the global market for oil and gas valves is bifurcated into cast and forged. The valve size segment of the market for oil and gas valves comprises above 20 inches, 8 to 20 inches, and 0.25 to 8 inches. Based on application, the oil and gas valves market includes upstream, midstream, and downstream.

Oil and Gas Valves Market: Report Scope

Global Oil and Gas Valves Market: Regional Analysis

The study provides a crucial view of the oil and gas valves market by segmenting it based on valve type, body material, valve size, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

In 2023, the North American region was the largest oil and gas valves market globally. This growth was mainly due to the rising adoption of automated valve operations across various end-user industries across the region. The Asia Pacific oil and gas valves market is anticipated to be the fastest-growing region over the next few years, owing to the increasing demand for oil and gas valves, especially for downstream applications.

Oil and Gas Valves Market: Competitive Analysis

The global oil and gas valves market is dominated by players like:

• Schlumberger
• CIRCOR International
• Parker Hannifin
• Metso Corporation
• Emerson Electric
• Watts Water Technologies
• BHGE
• National Oilwell Varco
• The Weir Group
• HYDAC
• IMI
• Armstrong

This report segments the global oil and gas valves market into:

Global Oil and Gas Valves Market: Valve Type Analysis

• Butterfly Valves
• Ball Valves
• Globe Valves
• Gate Valves
• Check Valves
• Pressure Reducing Valves (PRV)

Global Oil and Gas Valves Market: Body Material Analysis

• Cast
• Forged

Global Oil and Gas Valves Market: Valve Size Analysis

• 0.25 to 8 Inches
• 8 to 20 Inches
• Above 20 Inches

Global Oil and Gas Valves Market: Application Analysis

• Upstream
• Midstream
• Downstream

Global Oil and Gas Valves Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa