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2021
Industrial Valves Market

Industrial Valves Market

by Material Type (Cast Iron, Steel, Alloy-Based, and Others), Valve Type (Ball Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Check valves, and Diaphragm Valves), and Application (Oil & Power, Water & Wastewater, Chemical, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028
Update Available On-Demand

Report Code: A02213
Pages: 314
Jun 2021 | 19382 Views
Author(s) : Tanvi Pednekar , Onkar Sumant
Tables: 121
Charts: 78
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The global industrial valves market size is expected to reach $93,664.9 million in 2028, from $58,547.9 million in 2020, growing at a CAGR of 6.0% from 2021 to 2028. Industrial valves are used in process industries for direction, regulation, and control of gases, slurries, liquids, vapors, and others. Industrial valves are mainly manufactured using carbon steel, cast iron, stainless steel, and other high functioning metal alloys to obtain efficient flow control in industries such as water & waste water, oil & power, food & beverages, chemicals, and others. 

The COVID-19 pandemic has hindered the demand for industrial valves in North America and Europe, however, China exhibited significant growth in demand during the outbreak of COVID-19 pandemic.

Moreover, a valve mainly consists of a main body, a stem, and a seat that are generally manufactured using different materials including polymers, rubber, metals, and others to avoid wastage of liquid flowing through the valve. Valves are mainly differentiated by their operating mechanisms. The most widely used valves in industries are globe valves, butterfly valves, ball valves, gate vales, plug valves, pinch valves, diaphragm valves, and check valves. 

Industrial-Valves-Market-2021-2028

Automation in control valves has made major advancements, owing to growing emphasis on precise positioning and automation of industrial valves. Control valves include the use of a valve positioner, which converts electrical signals to pneumatics signals to control the actuator of the valve. Thus, the automation in the valve positioner offers more efficiency, reduced energy consumption, and more reliability, which in turn drives the growth of the industrial valves market globally. 

Furthermore, the oil & gas industry is the largest consumer of industrial valves globally, and includes the use of industrial valves in downstream, midstream, and upstream process applications. Rise in demand for industrial valves in North America boosts the need for importing industrial valves from other countries; thereby, driving the industrial valves market growth. Moreover, the food & beverages processing industry is largely saturated in the developed countries, including the European Union countries, the U.S., and China.

However, rise in demand for food from developing nations such as Brazil, India, and others boosts the agriculture industry, which in turn fuels the growth of the food & beverage processing industry. This is further expected to drive the demand for industrial valves; thereby, fostering the growth of the industrial valves industry.

However, the U.S. administration increased the tariffs on derivative aluminum and steel imports, effective from February 8, 2020. This hike includes 25% surge on steel and 10% surge on aluminum imports, which has negatively affected the U.S. manufacturing sector. Although the tariff is aimed at gaining more revenues from imports, the global trade for industrial valves has been affected negatively. Industrial valves manufacturing utilizes steel on a large scale, and the tariff on steel is anticipated to hinder the growth of the market. 

In addition, the COVID-19 pandemic has shut-down the production and sales of various products in the industrial valves industry, mainly owing to the prolonged lockdown in major global countries including the U.S., Italy, the UK, and others. This has hampered the growth of the industrial valves market significantly within the last few months, as is likely to continue during 2020. 

Industrial Valves Market
By Material Type

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Alloy-based segment is projected to grow at a significant CAGR

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On the contrary, the integration of artificial intelligence and internet of things (IoT) in manufacturing processes under the “Industry 4.0” upgradation is anticipated to provide lucrative opportunities for the growth of the industrial valves market globally.

The global industrial valves market is segmented on the basis of material type, valve type, application, and region. By material type, the market is categorized into cast iron, steel, alloy-based, and others.

Industrial Valves Market
By Valve Type

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Gate valves segment holds dominant position in 2019

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Depending on valve type, it is segregated into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, and diaphragm valves. On the basis of application, it is differentiated into oil & power, water & wastewater, chemical, food & beverage, and others. 

The global industrial valves market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period, and Asia-Pacific is expected to grow at the fastest rate.

Industrial Valves Market
By Application

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Oil & Power segment holds dominant position in 2019

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Competition Analysis

The key market players profiled in the report include AVK Holding A/S, Avcon Controls Private Limited, Schlumberger Limited, Crane Co., Emerson Electric Co., Flowserve Corporation, Forbes Marshall, IMI plc, Metso Corporation, and The Weir Group plc.

Many competitors in the industrial valves market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in June 2019, Crane Co. acquired Circor International Corporation, which is a U.S.-based manufacturer of flow and motion control products. It provides products such as pumps, valves, actuators, and others for industrial applications, and the acquisition has aided Crane Co. to improve its foothold in the U.S. Similarly, in August 2019, IMI plc acquired PBM Inc., which is a specialty valve manufacturer and offers a wide portfolio of industrial valves and other flow control products.

Industrial Valves Market
By Region

2028
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020 and is expected to grow at a highest rate during the forecast period.

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Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging global industrial valves market trends and dynamics.  
  • In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2021 and 2028. 
  • Extensive industrial valves market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive industrial valves market opportunity analysis of all the countries is also provided in the report.
  • The global industrial valves market forecast analysis from 2021 to 2028 is included in the report.
  • The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry. 

Global Industrial Valves Market Segments

By Material Type

  • Cast Iron
  • Steel
  • Alloy-Based
  • Others

By Valve Type

  • Ball Valves
  • Butterfly Valves
  • Gate Valves
  • Globe Valves
  • Plug Valves
  • Check Valves
  • Diaphragm Valves

By Application

  • Oil & Power
  • Water & Wastewater
  • Chemical
  • Food & Beverage
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa

Key Players

  • AVK Holding A/S
  • Avcon Controls Private Limited
  • Schlumberger Limited
  • Crane Co.
  • Emerson Electric Co.
  • Flowserve Corporation
  • Forbes Marshall
  • IMI plc
  • Metso Corporation
  • The Weir Group plc
 

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The global industrial valves market possesses organic growth potential during the forecast period. The demand for valves is witnessed from oil & power industries, mainly owing to high infrastructural upgradations under the “Industry 4.0” development. With the development in automated regulation and control of industrial valves, the market is likely to garner high revenues globally. 

Moreover, increased investments in oil & gas extraction infrastructure in the North American countries, including the U.S. and Canada, drives the demand for industrial valves, which in turn boosts the growth of the industrial valves market. Furthermore, high demand from North America is satisfied by major manufacturers of industrial valves located in China, Germany, India, and others, which has resulted in significant growth of the industrial valves market globally. In addition, the food & beverage processing industries have garnered high growth from the developing countries, including Brazil, India, and others, which boosts the demand for industrial valves. This further drives the global industrial valves market growth significantly during the forecast period. 

The industrial valves industry is highly fragmented in nature; however, various valve manufacturers are adopting acquisition strategies to enhance the market share. For instance, in July 2020, the U.S. based firm Mogas Industries, Inc. acquired the assets of Watson Valves, a turn-key manufacturer of service valves used in chemical and oil & gas industries. Watson has a strong installed base of 3,400 valves globally and a strong portfolio for mining related valves. The acquisition is expected to enhance Mogas’s market opportunities in the mining valve industry and assist in adding mining customers to its portfolio in North America.

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FREQUENTLY ASKED QUESTIONS?

A. The global industrial valves market size was $58,547.9 million in 2020 and is projected to reach $93,664.9 million in 2028, growing at a CAGR of 6.0% from 2021 to 2028.

A. The forecast period considered for the global industrial valves market is 2021 to 2028, wherein, 2020 is the base year, 2021 is the estimated year, and 2028 is the forecast year.

A. The base year considered in the global industrial valves market is 2020.

A. No, the report does not provide Value Chain Analysis for the global industrial valves market.

A. On the basis of valve type, the gate valves segment is expected to be the most influencing segment growing in the global industrial valves market report.

A. Based on the end-user industry, in 2020, the oil & power segment generated the highest revenue, accounting for 35.5% of the market and is projected to grow at a CAGR of 6.8% from 2020 to 2027.

A. The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically covers company overview, geographical presence, and market dominance (in terms of revenue and volume sales).

A. The market value of global industrial valves market is $62,412.1 million in 2021. COVID Banner Statement: The COVID-19 pandemic has hindered the demand for industrial valves in North America and Europe, however, China exhibited significant growth in demand during the outbreak of COVID-19 pandemic.

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