How Has the Industrial Valves Market Size Evolved in Recent Years?
The industrial valves market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the industrial valves market in past years. The market is set to expand from a worth of $110.13 billion in 2024 to $116.15 billion in 2025, registering a compound annual growth rate (CAGR) of 5.5%. The spurt in growth during the historical period can be linked to several factors including infrastructure advancement, energy exploration and production, manufacturing globalization, rigorous regulatory norms, and processes of replacement and upgrading.
What Is The Forecast For The Industrial Valves Market?
The Industrial Valves market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, steady expansion is anticipated in the industrial valves market. This market is projected to attain a value of $136.63 billion in 2029, with a compound annual growth rate (CAGR) of 4.1%.
This projected expansion during the forecast period can be ascribed to a focus on environmental sustainability, initiatives targeting water management, renewable energy projects, robustness in supply chains, customization and specialization, as well as a global economic revival. Major trends to watch in the forecast period encompass smart valve technologies, the emergence of the industrial internet of things, a focus on energy efficiency, amplified automation in manufacturing, broadening of oil and gas exploration, and innovative materials and manufacturing methodologies.
What Are The Essential Drivers Behind The Growth Of The Industrial Valves Market?
The increase in oil and gas discoveries is anticipated to spur the expansion of the industrial valve market in the future. The term 'oil and gas exploration' denotes the processes and methods utilized to pinpoint suitable sites for oil and gas drilling and extraction. Industrial valves control the oil and gas flow, regulating fluid direction and managing pressure. To illustrate, the Energy Information Administration (EIA), a US statistical agency, projected oil production in 2023 to be more than 12.8 million barrels per day, with expectations to increase to approximately 13.2 million barrels per day in 2024, and further rise to 13.4 million barrels per day by 2025. This increase is due to enhancements in well productivity, despite the decreasing number of active rigs. Consequently, the escalating number of oil and gas explorations is fueling the industrial valve market's growth.
How Is The Global Industrial Valves Market Divided Into Key Segments?
The industrial valves market covered in this report is segmented –
1) By Valves: Ball Valves, Check Valves, Butterfly Valves, Plug Valves, Globe Valves, Gate Valves, Diaphragm Valves, Safety Valves
2) By Function: Isolation, Regulation, Safety Relief Valve, Special Purpose, Non-Return
3) By Material: Ductile Iron, Carbon Steel, Plastic, Brass, Bronze, Copper, Aluminum, Others Materials
4) By Accessories: Hydraulic Filter, Power Cable, Mounting Screw And Bolts, Seal Kits, Dust Protection Cover, Others Accessories
5) By End-User: Chemicals, Energy And Power, Oil And Gas, Water And Wastewater Treatment, Building And Constructions, Paper And Pulp, Metal And Mining, Agriculture, Semiconductor, Other End Users
Subsegments:
1) By Ball Valves: Floating Ball Valves, Trunnion Ball Valves
2) By Check Valves: Swing Check Valves, Lift Check Valves, Dual Plate Check Valves
3) By Butterfly Valves: Resilient Seated Butterfly Valves, Triple Offset Butterfly Valves
4) By Plug Valves: Lubricated Plug Valves, Non-Lubricated Plug Valves
5) By Globe Valves: Rising Stem Globe Valves, Non-Rising Stem Globe Valves
6) By Gate Valves: Wedge Gate Valves, Parallel Gate Valves
7) By Diaphragm Valves: Inline Diaphragm Valves, Angle Diaphragm Valves
8) By Safety Valves: Spring-Loaded Safety Valves, Pilot-Operated Safety Valves
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What Trends Are Reshaping The Future Of The Industrial Valves Market?
One noticeable trend that's shaping the industrial valve markets is product innovation. Key players in this market are emphasizing the creation of advanced solutions to solidify their standing. As an illustration, Emerson Electric Co., a manufacturer based in the US, launched two new technological products, namely Crosby J-Series pressure relief valves, in December 2022. The first product is a balance diaphragm valve. It mitigates the reliance on bellows in pressure-reducing valves, guaranteeing a balanced operation against back pressure. This product substantially reduces the costs of ownership and enhances performance. The second product offers bellows leak detection. This provides remote detection of bellows breakages in pressure-reduction valves and gives a precise calculation of volumetric emissions while also reducing them.
Who Are the Key Players In The Industrial Valves Market?
Major companies operating in the industrial valves market include:
• Emerson Electric Co.
• The Flowserve Corporation
• Schlumberger Limited
• Crane Holdings Co.
• KITZ Corporation
• AVK Holdings A/S
• Forbes Marshall Pvt Ltd.
• KSB SE & Co. KGaA
• Spirax-Sarco Engineering PLC
• Metso Outotec Corporation
• KLINGER Holding
• Alfa Laval AB
• Curtiss-Wright Corporation
• Honeywell International Inc.
• Velan Inc.
• Neway Valve
• Samson AG
• Neles Oyj
• AVCON Controls Pvt. Ltd.
• Sirca International S.p.A.
• Fluidline Valves Co. Pvt. Ltd.
• Davis Valve
• Powell Valves
• Virgo Engineers Inc.
• WALWORTH
• IMI PLC
• Valvitalia SpA
• Zhejiang Dunan Valve Co. Ltd.
• Pentair Valves and Controls
• OKANO Valve Mfg. Co. Ltd.
• Tyco Valves and Controls
• Swagelok Company
What Are The Regional Insights Into The Industrial Valves Market?
Asia-Pacific was the largest region in the industrial valves market in 2024. The regions covered in the industrial valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
