Global Industrial Valves Market Research Report: By Type (Butterfly Valve, Ball Valve, Globe Valve, Gate Valve, Plug Valve, and Others), By Product (Quarter-turn Valve, Multi-turn Valve, and Others), By Application (Energy & Power, Water & Wastewater Management, Chemicals, Oil & Gas, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
The Global Industrial Valves Market was valued at USD 67.35 billion in 2022, and is predicted to reach approximately USD 106.29 billion by 2031, at a CAGR of 5.2% from 2023 to 2031. Global Industrial Valves are mechanical devices utilized for the purpose of controlling, regulating, and directing the flow of fluids (liquids, gases, or slurries) within industrial processes. They possess great importance across various industries, including oil and gas, power generation, water and wastewater treatment, chemical processing, and manufacturing. These valves are specifically engineered to endure high pressure, temperature, and corrosive environments, thereby ensuring effective and secure operation. The global market for industrial valves has witnessed substantial growth as a result of escalating industrialization, infrastructure development, and the increasing demand for energy and water resources.
INDUSTRIAL VALVES MARKET: REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Estimated Market Value (2022) |
67.35 Bn |
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Projected Market Value (2031) |
106.29 Bn |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Product, By Application, & Region |
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Segments Covered |
By Type, By Product, By Application, & Region |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Industrial Valves Market Dynamics
The significant drivers behind the global industrial valves market are the rapid pace of industrialization and infrastructure development worldwide. The expansion of industries such as oil and gas, power generation, and chemical processing necessitates the utilization of industrial valves for fluid flow control. Technological advancements, such as smart valves and digital control systems, enhance valve performance and enable remote monitoring and control. Additionally, there is a growing emphasis on sustainability and environmental concerns, leading to the development of eco-friendly valve solutions, which further bolster market growth during the forecast period.
Global Industrial Valves Market Drivers
Global industrialization and infrastructure development initiatives drive the demand for industrial valves. As industries expand, especially in sectors like oil and gas, power generation, and chemical processing, the need for efficient fluid flow control increases.
Restraints:
Industrial valves, especially those designed for high-pressure, high-temperature, and corrosive environments, can be expensive. The high cost of valves can pose a restraint, particularly for small and medium-sized enterprises (SMEs) with limited budgets.
Opportunities:
The ongoing advancements in valve technology present significant opportunities for market growth. Smart valves, digital control systems, and automation solutions improve valve performance, enable remote monitoring and control, and enhance operational efficiency.
Segment Overview
By Type
Based on the type, the global industrial valves market is segmented into butterfly valve, globe valve, ball valve, gate valve, plug valve, and others. The plug valve segment is anticipated to grow at a higher CAGR of 5.8% during the forecast period. Plug valves possess several benefits, including their compact size, minimal leakage, and ease of operation, which make them well-suited for diverse industries. Furthermore, technological advancements in plug valve designs, such as enhanced sealing mechanisms and materials, contribute to improved performance and reliability. The expansion of infrastructure projects and the increasing emphasis on energy exploration and production activities also present favorable opportunities for plug valves.
By Application
Based on the application, the global industrial valves market is segmented into energy & power, water & wastewater management, chemicals, oil & gas, and others. The energy & power segment is dominating the market with the largest revenue share of around 43.4% in 2022. The rising worldwide energy and power demand propel the requirement for effective and dependable valve solutions. Industrial valves play a crucial role in power generation plants, encompassing thermal, nuclear, and renewable energy facilities.
By Product Type
Based on product type, the global industrial valves market is segmented into quarter-turn valve, multi-turn valve, and others. The quarter-turn valve segment is dominating the market with the largest revenue share of around 5.9% in 2022. Several factors contribute to this trend. Quarter-turn valves, including ball valves and butterfly valves, are known for their fast and efficient operation, low torque requirements, and reliable sealing capabilities. As a result, these valves are extensively utilized across various industries such as oil and gas, wastewater management, and chemical processing, that plays a significant role in driving their market growth.
Global Industrial Valves Market Overview by Region
By Region, the global Industrial Valves Market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held the largest market share of 48.3% in 2022. The region is experiencing a rapid pace of industrialization and urbanization, resulting in a heightened demand for industrial valves across multiple sectors such as oil and gas, power generation, and manufacturing. This growth is further propelled by the increasing population and ongoing infrastructural development in countries such as China and India. Additionally, favorable government policies, substantial investments in infrastructure projects, and technological advancements within the region contribute to its dominant position in the industrial valves market.
Global Industrial Valves Market Competitive Landscape
In the global industrial valves market, a small number of prominent players hold significant market dominance and have established a strong regional presence. These key participants are committed to ongoing research and development initiatives. Additionally, they actively engage in strategic growth endeavors such as product development, product launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position and expand their customer base to capture a substantial share of the market.
Some of the prominent players in the global industrial valves market include Alfa Laval, AVK Holding AS, CIRCOR International Inc., Crane Co., Curtiss-Wright Corporation, Danfoss AS, Zhejiang Dunan Valve Co. Ltd., Emerson Electric Co., Flowserve Corporation, Baker Hughes, Georg Fischer Ltd., Hitachi Ltd., Honeywell International Inc., KITZ Corporation, KLINGER Group, Mueller Water Products Inc., NIBCO Inc., Okano Valve Mfg. Co. Ltd., Saint-Gobain, and various other key players.
Global Industrial Valves Market Recent Developments
In November 2022, James Walker revealed the Supagraf HT valve stem seal, which is particularly developed for dealing with molten salt medium. This seal can withstand extremely high temperatures as well as chemically aggressive and caustic substances such as molten salts. It performs well in extreme circumstances, making it excellent for use in valves, process equipment, and goods used in sealing applications in such harsh environments.
Scope of the Global Industrial Valves Market Report
Industrial Valves Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Type |
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By Product |
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By Application |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the global industrial valves market segmented by type, by product, by application, region, and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of industrial valves between 2019 and 2031.
To identify and infer the drivers, restraints, opportunities, and challenges for the global industrial valves market
To find out the factors which are affecting the sales of industrial valves among consumers
To identify and understand the various factors involved in the global industrial valves market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
