According to IMARC Group’s latest report, titled “Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global industrial valves market reached a value of US$ 64.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 97.19 Billion by 2027, exhibiting at a CAGR of 7.3% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industrial valves refer to mechanical devices that regulate, direct, and control the flow of fluids, gases, liquids and slurries. They are heavy-duty industrial strength valves that form essential components in the piping system for managing various processes. These valves consist of the main body, stem, and seat made from polymers, rubber, metals, and materials to avoid leakage. They are manufactured with carbon steel, cast iron, stainless steel, and high functioning metal alloys to enhance flow control. They are used to handle high pressure by opening, closing, and partially obstructing various passageways. As a result, they find applications across the water and wastewater, oil and power, food and beverage, and chemical industries.
Market Trends and Drivers:
The global industrial valves market is primarily driven by the growing production and exploration of oil and gas. The increasing unconventional oil and gas activities across downstream segments are also propelling the market growth. In the power industry, industrial valves are widely used in condensate systems to control the deaerator level for feedwater heaters and regulate the additional flow required for fluid recirculation condensate pumps. Moreover, the rising adoption of diagnostics in industrial valves and the integration of industrial valves with smart control systems has helped to monitor upstream and downstream pressure stem positions, temperature and flow rates. Furthermore, the establishment of nuclear power plants and renovation of existing facilities is also positively impacting the market across the globe.
Industrial Valves Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
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:
- Forbes Marshall
- Cameron International Corporation (Schlumberger)
- Kitz Corporation
- Emerson Electric Co.
- Flowserve Corporation
- The Crane Company
- Neway Valves (Suzhou) Co. Ltd.
- AVK Holding A/S
- Samson AG and Velan Inc.
Key Market Segmentation:
The report has segmented the global industrial valves market on the basis of 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
Breakup by Functionality:
- On-Off / Isolation Valves
- Control Valves
Breakup by Material:
- Cast Iron
- Alloy Based
Breakup by Size:
- Up To 1”
- 51” and Above
Breakup by End Use Industry:
- Oil and Gas
- Water and Wastewater Treatment
- Food and Beverage
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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.
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