Industrial Valves Market Size And Share Analysis Report, 2024
IMARC Group, a leading market research company, has recently released a report titled “Industrial Valves Market Report by Product Type (Gate Valve, Globe Valve, Butterfly Valve, Ball Valve, Check Valve, Plug Valve, and Others), Functionality (On-Off/Isolation Valves, Control Valves), Material (Steel, Cast Iron, Alloy Based, and Others), Size (Upto 1”, 1”-6”, 7”-25”, 26”-50”, 51” and Above), End Use Industry (Oil and Gas, Power, Pharmaceutical, Water and Wastewater Treatment, Chemical, Food and Beverage, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global industrial valves market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global industrial valves market size reached US$ 73.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 128.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
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Industrial Valves Market:
Industrial valves represent electromechanical devices designed to control liquids, gases, and slurries. They comprise the body, trim, sealing rings, discs, seats, stem packing, end connectors, bonnet shell, union bolts, yoke and yoke nut, and operators and actuators. Industrial valves are widely available as gate, globe, butterfly, ball, check, and plug valves in several sizes and shapes. Industrial valves are cost-effective, have low maintenance costs, and help in stopping the flow rate via the pipe whenever required. They assist in preventing flow return to the pressurized side and protect tools from overpressure hazards. Consequently, these devices are widely used in the automotive, pharmaceutical, and food and beverage (F&B) sectors across the globe.
Industrial Valves Market Trends:
The inflating focus on the development of smart cities is among the key factors driving the industrial valves market.
Moreover, the widespread adoption of these devices, on account of the increasing number of oil and gas infrastructure projects across numerous countries, is also stimulating the market growth. Besides this, the rising usage of industrial valves in water and wastewater treatment plants to maintain sanitation is acting as another significant growth-inducing factor.
Furthermore, the escalating demand for connected networks to sustain and monitor commercial equipment is further propelling the global market. Apart from this, the expanding nuclear power stations and petroleum refining plants are positively influencing the market growth.
Furthermore, the elevating demand for customized solutions in these devices from several end-use industries around various countries is anticipated to fuel the industrial valves market over the forecasted period.
Industrial Valves Market Report Segmentation:
By Product Type:
· Gate Valve
· Globe Valve
· Butterfly Valve
· Ball Valve
· Check Valve
· Plug Valve
· Others
By Functionality:
· On-Off/Isolation Valves
· Control Valves
By Material:
· Steel
· Cast Iron
· Alloy Based
· Others
By Size:
· Upto 1”
· 1”-6”
· 7”-25”
· 26”-50”
· 51” and Above
By End Use Industry:
· Oil and Gas
· Power
· Pharmaceutical
· Water and Wastewater Treatment
· Chemical
· Food and Beverage
· Others
Regional Insights:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
Competitive Landscape with Key Players:
The competitive landscape of the industrial valves market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· AVK Holding A/S
· Cameron International Corporation (Schlumberger)
· The Crane Company
· Emerson Electric Co.
· Flowserve Corporation
· Forbes Marshall
· IMI Plc
· Kitz Corporation
· Neway Valves (Suzhou) Co. Ltd.
· Samson AG
· Velan Inc.
Ask Analyst for Customized Report:
https://www.imarcgroup.com/request?type=report&id=2790&flag=C
Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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