Industrial Valves Market Expected to Reach $110.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Industrial Valves Market," The Industrial Valves Market Size was $65 billion in 2021, and is estimated to reach $110.5 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Industrial valves are electro-mechanical or mechanical devices used for control of gases, liquid, slurries, and others through pipes and tubes in industries. Various kinds of industrial valves perform various functions such as shut on/off, pressure control, and other regulation purposes.

Industrial valves are electromechanical devices used to regulate the flow and pressure of a liquid, gas, vapor, powder and slurry in a piping system. These valves comprise the body, trim, discs, seats, stem packing, end connectors, sealing rings, bonnet shell, union bolts, yoke and yoke nut, and operators and actuators. They help stop the flow rate through the pipe whenever required, prevent flow return to the pressurized side and protect equipment from overpressure hazards. Different types of industrial valves are presently available in the market based on their sizes, designs, functions and operations. These valves find extensive applications in the refinery, chemical, pharmaceutical, water & wastewater treatment, food and beverage (F&B), power, and oil & gas sectors worldwide.

Rapid industrialization across the world has resulted in the increase in industrial valves demand during the last few years. These industrial valves provide an easy and affordable means of controlling flow of materials across major industries.

As the demand for fuel surges, various countries are launching new oil & gas exploration projects. This is anticipated to boost the demand for advanced valve tech. Similarly various water treatment plants are being launched to cater to the rising fresh water demand. Driven by this, the industrial valves market will record high growth in the coming years.

Leading players are focusing on introducing green and digital products that will enable experts to control and monitor the flow of materials from remote locations. This will help them to increase their sales

There are various kinds of industrial valves, including ball valves, butterfly valves, check valves, gate valves, globe valves, pinch valves, and others, which are designed for regulation, control, and on & off purposes. Moreover, industrial valves are manufactured using carbon steel, cast iron, stainless steel, and various other metal alloys for attaining high efficiency. Furthermore, the high automation and control in industrial valves improve their functioning in hazardous applications such as oil & gas, chemical processing, nuclear power generation plants, and others.

In addition, the implementation of automation technologies has assisted in reducing the wastage of liquids passing through the pipes and valves, which result in reduction of costs. Various industries adopt automation and control technologies by upgrading their pre-installed industrial valves, which in turn drives the industrial valves market growth and is offering various industrial valves market trends.

The global market for Industrial valves has been greatly impacted by technological improvements and product developments. Also, increasing adoption of industrial valves in sewage pumping, wastewater treatment plants and several other applications will continue to boost the growth of industrial valves market globally.

Recent technological developments have made it possible for businesses to use cutting-edge tools like artificial intelligence (AI) and the Internet of Things (IIoT) technology to reduce unplanned downtime and other adverse situations caused by valve failures.

These valve technologies enable professionals to remotely check on the functionality and state of industrial valves. Industries are implementing sensor-equipped valves to minimize failure rates and overall maintenance costs as a result of increased industrialization. Over the projection period, it is anticipated that adoption of these cutting-edge values would strengthen the market.

The investments for extraction of oil & gas has propelled substantially, which has led to infrastructural development. Furthermore, the focus on increasing the production of oil & gas in has created a high demand for industrial valves in the Middle East. This is expected to create massive demand for industrial valves, which in turn may boost the growth during the industrial valves market forecast period.

North America is the largest contributor in the industrial valves industry with the highest share in 2021. The U.S. and Canada are the largest consumers of industrial valves within the region and have strong trade relations with manufacturing countries in the Europe and Asia-Pacific. However, the industrial valves market has lucrative growth opportunities in China and India, owing to rapid growth of manufacturing industry. For instance, the Chinese manufacturing output witnessed an increase of over 25% from 2020 to 2021.

On the basis of valve type, globe valves segment held a major share in the industrial valves market in 2021, and butterfly valves and plug valves are anticipated to grow at significant CAGR during the forecast period. Considering the application segment, oil & power industry has significantly contributed to industrial valves market share during the base period. The oil & gas industry mainly includes downstream, midstream, and upstream applications and require industrial valves on a large scale. In addition, major countries in Europe and Asia-Pacific are now switching toward clean power sources, which has created a large demand for valves during infrastructural upgradation processes.

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. 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. By region, the industrial valves market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).  

Key companies profiled in the industrial valves market report include AVK Holding, Avcon Controls Pvt Ltd, Schlumberger Limited, Crane, Emerson Electric Co., Flowserve Corp., Forbes Marshall, IMI Plc, Metso Corporation, The Weir Group Plc, EG Valves Manufacturing Co., Ltd., Sirca International S.P.A., Klinger Holding, Böhmer GmbH, Fluidline Valves Co. Pvt Ltd., Anything Flows LLC, Davis Valve and Powell Valves. 

Key Findings of The Study 

• The report provides an extensive analysis of the current and emerging global industrial valves market analysis and dynamics.  

• Depending on material type, the steel segment was the largest revenue generator in 2021. 

• By valve type, the globe valves segment generated the highest revenue in 2021. 

• On the basis of application, the oil & power segment dominated the market in 2021.  

• Region wise, Asia-Pacific is anticipated to dominate the global industrial valves market throughout the study period.