The commercial valve market has experienced significant growth, with its size increasing from $2.69 billion in 2023 to $2.86 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.0%. This growth is due to increased industrialization, higher demand for valves across various sectors, rising construction activities, growing infrastructure development in emerging economies, rising water and wastewater treatment needs, and a focus on energy efficiency. The market is expected to continue its strong growth, reaching $3.63 billion by 2028, with a CAGR of 6.2%. Future growth drivers include the expansion of the oil and gas industry, advancements in valve technology, growth in the chemical and petrochemical industries, rising adoption of automation and IoT in industrial applications, and increasing environmental regulations. Key trends include IoT and automation integration in valve systems, development of advanced materials for enhanced durability, growth in smart and digital valves, expansion into emerging markets, and a focus on energy-efficient and sustainable solutions.
Major Driver In The Commercial Valves Market
The rise in industrialization is anticipated to propel the commercial valves market. As economies transition from agrarian to industrial-based models, the demand for goods and advanced manufacturing processes increases. Commercial valves are crucial in regulating fluid flow and ensuring operational efficiency in various industrial processes. Eurostat reported a 0.2% rise in industrial production in the European area in May 2023, underscoring the growth of industrial activities and its impact on the commercial valves market.
Request A Free Sample Of The Commercial Valves Market Report
Commercial Valves Market Competitive Landscape
Schlumberger Company, Parker Hannifin Corporation, Emerson Electric Co., Pentair plc, Flowserve Corporation, The Weir Group PLC, Crane Co., KSB SE & Co. KGaA, Curtiss-Wright Corporation, IMI plc, Watts Water Technologies Inc., Spirax-Sarco Engineering plc, Mueller Water Products Inc., AVK Holding A/S, KITZ Corporation, Samson AG, Rotork plc, NIBCO Inc., Neway Valve Co. Ltd., Velan Inc., Valvitalia S.p.A., Bray International Inc., Cla-Val Company, Habonim Industrial Valves & Actuators
Key Commercial Valves Market Trend
Companies in the commercial valves market are focusing on high-flow and high-pressure designs to gain a competitive edge. These designs facilitate large fluid volumes with minimal resistance and maintain structural integrity under high pressure. Emerson Electric Co. introduced the ASCO Series 148-149 Safety Valve and Motorized Actuator in April 2024. This product features rapid opening and closing in under one second, enhanced sealing capabilities to prevent leaks under high pressure, and built-in diagnostics for real-time performance monitoring, ensuring optimal operational safety.
Purchase The Global Commercial Valves Market Report Directly And Get A Swift Delivery
Commercial Valves Market Segmentation
The commercial valves market covered in this report is segmented –
1) By Valves: Ball Valves, Check Valves, Butterfly Valves, Balancing Valves, Gate Valves, Globe Valves
2) By Material Type: Alloy Based, Cast Iron, Steel, Other Materials
3) By Distribution Channels: Direct Sales, Indirect Sales
By Geography:The regions covered in the commercial valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the commercial valve market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Commercial Valves Global Market Report 2024 furnishes information about the global commercial valves market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
