The global industrial valves market is on track for significant growth, with a projected valuation exceeding USD 123.05 billion by 2034. This expansion is anticipated to occur at a steady Compound Annual Growth Rate (CAGR) of 4.2% from 2022. As of 2024, the market has already established a strong presence with an estimated value of approximately USD 81.55 billion.
A comprehensive half-yearly comparison analysis conducted by Future Market Insights (FMI) provides valuable insights into this growth trajectory. The increasing demand for industrial valves is driven by their critical role in various industries, particularly those essential to global infrastructure development. In the oil & gas sector, industrial valves play a vital role in ensuring the efficient flow and containment of fluids during complex extraction, refining, and distribution processes.
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With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.
The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for 85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.
Market in APEJ Projected for Remunerative Growth:
The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2022-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.
Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. Consequently, the region’s chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.
Industrial Valves Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.
The global industrial valves market is significantly consolidated with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.
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Industrial Valves Market: Segment Analysis
By Valve Type:
- Gate
- Parallel
- Wedge
- Globe
- Tee
- Angle
- Wye
- Ball
- Trunnion
- Floating
- Threaded Series
- Butterfly
- High Performance
- Lined
- Plug
- Lined
- Lubricated
- Non-Lubricated
- Check
- Dual Plate
- Piston Lift
- Spring Loaded Disk
- Swing Check
- Tilting Check
- Y Pattern
- T Pattern
- Safety Relief
- Spring Loaded
- Pilot Operated
- Other Customized
By Valve Material:
- Cast Steel
- Carbon Steel
- Stainless Steel
- Bronze
- Other Alloys
By End-use Industry:
- Oil & Gas
- Chemical
- Water & Wastewater Treatment
- Power Plants
- Paper & Pulp
- Others
By Function:
- Manual
- Automatic
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
- Japan
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