The latest report published by IMARC Group, titled “Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market demand. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global industrial valves market size reached US$ 68.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 105.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
Industry Definition and Application:
Industrial valves are mechanical devices designed to control the flow of fluids, such as liquids, gases, and slurries, within industrial processes. They serve as crucial components for regulating, directing, and isolating fluid flow to ensure operational efficiency, safety, and process control.
Valves can be classified into different types based on their designs, including ball valves, gate valves, globe valves, butterfly valves, and check valves.
The key characteristics of industrial valves encompass versatility, as they are available in various sizes, materials, and configurations to suit different applications and operating conditions. They offer precise control on overflow rates, pressures, and directions of fluids, allowing for optimal process management.
Valves are known for their reliability, with robust construction that withstands high pressures, temperatures, and corrosive environments. They also incorporate safety features, such as pressure relief valves and fail-safe mechanisms to prevent accidents and system failures.
Additionally, industrial valves are flexible and can be operated manually, pneumatically, hydraulically, or electronically, thus offering adaptability to diverse industrial systems. Valves also feature actuators for remote operation, seals and gaskets to ensure leak prevention, and stem designs for smooth and precise control. Industrial valves find their application in the oil and gas, chemical and petrochemical, power generation, food and beverage, and mining and minerals industries.
Market Trends and Growth Drivers:
The rapid industrialization and increasing number of infrastructural development projects represent some of the key factors influencing the market growth.
Moreover, growing demand for clean and renewable energy sources, such as solar and wind power, requiring valves for fluid control in energy generation systems, is contributing to the global industrial valves market growth. In addition to this, the widespread utilization of industrial valves in water and wastewater treatment plants to maintain sanitation is contributing to the growth of the market.
In line with this, the increasing demand for industrial valves for monitoring municipal wastewater flow is driving the growth of the industrial valves market.
The rising demand for customized solutions in industrial valves from various end-use industries around the world is propelling the market growth.
The market is also being driven by significant technological advancements in valve designs, materials, and sealing technologies, offering enhanced performance, durability, and reliability. Rising awareness of workplace safety and the need for reliable valve solutions in hazardous environments, such as mining and oil refineries, is propelling the market growth.
The increasing application of industrial valves in the rising number of oil and gas infrastructure projects across the globe is strengthening the market growth. Increasing automation and strategic collaborations and significant product innovations by the leading players are acting as major factors inducing the market growth.
Other factors, such as rapid establishments of smart cities and extensive research and development (R&D) activities, are creating a positive outlook for the industrial values market further across the globe.
Industrial Valves Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industrial valves market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AVK Holding A/S
- Cameron International Corporation (Schlumberger)
- The Crane Company
- Emerson Electric Co.
- Flowserve Corporation
- Forbes Marshall
- IMI Plc
- Kitz Corporation
- Neway Valves (Suzhou) Co. Ltd.
- Samson AG
- Velan Inc.
Key Market Segmentation:
The report has segmented the global industrial valves market based on product type, functionality, material, size, end use industry and region.
Breakup by Product Type:
- Gate Valve
- Globe Valve
- Butterfly Valve
- Ball Valve
- Check Valve
- Plug Valve
- Others
Breakup by Functionality:
- On-Off / Isolation Valves
- Control Valves
Breakup by Material:
- Steel
- Cast Iron
- Alloy Based
- Others
Breakup by Size:
- Upto 1”
- 1”-6”
- 7”-25”
- 26”-50”
- 51” and Above
Breakup by End Use Industry:
- Oil and Gas
- Power
- Pharmaceutical
- Water and Wastewater Treatment
- Chemical
- Food and Beverage
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/industrial-valves-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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