Asia-Pacific Industrial Valves Market - Growth, Trends, COVID-19 Impact, and Forecast (2022-2027)

The Asia-Pacific Industrial Valves Market is Segmented by Type (Butterfly Valve, Ball Valve, Globe Valve, Gate Valve, Plug Valve, and Other Types), Product (Quarter-turn Valve, Multi-turn Valve, and Other Products), Application (Power, Water and Wastewater Management, Chemicals, Oil and Gas, Food Processing, Pulp and Paper, and Other Applications), and Geography (China, India, Japan, South Korea, Australia & New Zealand, ASEAN Countries, and Rest of Asia-Pacific). The report offers market size and forecast in revenue (USD million) for all the above segments.

Market Snapshot

Asia-Pacific Industrial Valves Market Size
Study Period: 2017-2027
Base Year: 2021
CAGR: >5 %

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Market Overview

The Asia-Pacific industrial valves market was valued at USD 19,122.90 million in 2021, and it is expected to register a CAGR of more than 5% during the forecast period (2022-2027).

  • The factors driving the market are surging demand for valves to establish new nuclear power plants and revamp the existing ones​ and increasing demand for valves in the oil and gas industry​.
  • China accounts for the largest share of the Asia-Pacific industrial valves market.

Scope of the Report

Industrial valves are mechanical devices that control the flow and pressure of liquids, gases, and slurries within a system. They are also known as regulators and are used in various applications. Valves vary greatly in size, design, function, and operation. The Asia-Pacific industrial valves market is segmented by type (butterfly valve​, ball valve​, globe valve​, gate valve​, plug valve, and other types), product (quarter-turn valve ​, multi-turn valve, and other products), application (power​, water and wastewater management​, chemicals​, oil and gas​, food processing​, pulp and paper​, and other applications​), and geography (China​, India, Japan, South Korea, Australia & New Zealand, ASEAN Countries​, and Rest of Asia-Pacific). The report also covers the market sizes and forecast for the Asia-Pacific industrial valves market in 4 countries across the region. For each segment, the market sizing and forecast have been done based on value (USD million).

Type
Butterfly Valve
Ball Valve
Globe Valve
Gate Valve
Plug Valve
Other Types
Product
Quarter-turn Valve
Multi-turn Valve
Other Products (Control Valves)
Application
Power
Water and Wastewater Management (Including Desalination)
Metal, Mineral, and Mining
Others
Chemicals
Oil and Gas
Upstream
Mid-stream
Downstream
Food Processing
Pulp and Paper
Other Applications
Geography
China
India
Japan
South Korea
Australia and New Zealand
ASEAN Countries
Rest of Asia-Pacific

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Key Market Trends

Growing Demand in the Oil and Gas Industry

  • The upstream oil and gas industry is the largest user of valves to outfit millions of wellhead 'Christmas trees' that usually include 3 to 5 valves per tree in sizes of 2” to 8”, as well as to segment and control flow through millions of miles of gathering pipelines (2” to 20” valves) and cross-country trunk pipelines (up to 60” or larger) required to bring the crude oil and gas to refineries, and the refined product (gasoline, diesel, natural gas) to end-user markets. ​
  • With the increasing pipeline across the countries, the need for storage terminals to store the hydrocarbons also increases. Therefore, to meet the storage demand, Asia-Pacific countries are planning to invest in storage terminals in the future.
  • Asia-Pacific has dominated the oil and gas downstream market, with most of the demand coming from China, Southeast Asian countries, and India. The energy demand is anticipated to grow by 50-60% in two decades.
  • Several petrochemical projects are planned to be constructed in the region. For example, China is expected to witness 512 petrochemical projects commence operations during 2021-2025. According to a petrochemicals report published by the International Energy Agency (IEA), nearly all regions except Europe may increase the production of primary chemicals by 2050. However, the largest capacity growth is seen in Asia-Pacific.
  • Such factors are expected to augment the demand for industrial valves. ​
Asia-Pacific Industrial Valves Market Trends

India to Register the Fastest Growth

  • India is one of the fastest-growing countries in terms of manufacturing sectors and machinery, giving rise to the need for industrial valves. The government provides benefits to companies setting up manufacturing units. It also outlines various policies to boost the manufacturing sector. For instance, India outlined a plan in August 2021 to reach its goal of USD 1 trillion in manufactured goods exports.
  • India is among the five largest producers of electricity worldwide. As of September 2021., the national electric grid in India had an installed capacity of 388.134 GW.
  • India also nurtures a robust mining industry. As of FY 2021, the number of reporting mines in India was estimated at 1,229, of which reporting mines for metallic minerals were estimated at 545 and non-metallic minerals at 684.
  • According to the Indian Economic Survey 2021, the domestic market is expected to grow three-fold in the next decade. India’s domestic pharmaceutical market was estimated at USD 42 billion in 2021. It is likely to reach USD 65 billion by 2024 and further expand to USD 120-130 billion by 2030. ​
  • All these factors are likely to increase the demand for industrial valves in the country during the forecast period.​
Asia-Pacific Industrial Valves Market Analysis

Competitive Landscape

The Asia-Pacific industrial valves market is fragmented, with no player capturing a significant share in the market. Some of the major players in the market include (not in any particular order) Emerson Electric Co., KITZ Corporation, Flowserve Corporation, Baker Hughes, and IMI Critical Engineering.

Recent Developments

  • In May 2021, Alfa Laval planned to extend its range of Unique DV-ST UltraPure diaphragm valves to meet the demand for efficient aseptic processing.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Surging Demand of Valves for Establishing New Nuclear Power Plants and Revamping Existing Ones

      2. 4.1.2 Increasing Demand of Valves in Oil and Gas Industry

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Butterfly Valve

      2. 5.1.2 Ball Valve

      3. 5.1.3 Globe Valve

      4. 5.1.4 Gate Valve

      5. 5.1.5 Plug Valve

      6. 5.1.6 Other Types

    2. 5.2 Product

      1. 5.2.1 Quarter-turn Valve

      2. 5.2.2 Multi-turn Valve

      3. 5.2.3 Other Products (Control Valves)

    3. 5.3 Application

      1. 5.3.1 Power

      2. 5.3.2 Water and Wastewater Management (Including Desalination)

        1. 5.3.2.1 Metal, Mineral, and Mining

        2. 5.3.2.2 Others

      3. 5.3.3 Chemicals

      4. 5.3.4 Oil and Gas

        1. 5.3.4.1 Upstream

        2. 5.3.4.2 Mid-stream

        3. 5.3.4.3 Downstream

      5. 5.3.5 Food Processing

      6. 5.3.6 Pulp and Paper

      7. 5.3.7 Other Applications

    4. 5.4 Geography

      1. 5.4.1 China

      2. 5.4.2 India

      3. 5.4.3 Japan

      4. 5.4.4 South Korea

      5. 5.4.5 Australia and New Zealand

      6. 5.4.6 ASEAN Countries

      7. 5.4.7 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alfa Laval

      2. 6.4.2 AVK Holding AS

      3. 6.4.3 Baker Hughes

      4. 6.4.4 CIRCOR International Inc.

      5. 6.4.5 Crane Co.

      6. 6.4.6 Curtiss-Wright Corporation

      7. 6.4.7 Danfoss AS

      8. 6.4.8 EBRO ARMATUREN Gebr. Brer GmbH

      9. 6.4.9 Emerson Electric Co.

      10. 6.4.10 Flowserve Corporation

      11. 6.4.11 Georg Fischer Ltd

      12. 6.4.12 Hitachi Metals Ltd

      13. 6.4.13 Honeywell International Inc.

      14. 6.4.14 IMI Critical Engineering

      15. 6.4.15 ITT Inc

      16. 6.4.16 KITZ Corporation

      17. 6.4.17 NIBCO

      18. 6.4.18 Okano Valve Mfg. Co. Ltd

      19. 6.4.19 Parker Hannifin Corp

      20. 6.4.20 Samson Aktiengesellschaft

      21. 6.4.21 Schlumberger Limited

      22. 6.4.22 The Weir Group PLC

      23. 6.4.23 Valvitalia SpA

      24. 6.4.24 Velan Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Industrial Valves Market market is studied from 2017 - 2027.

The Asia-Pacific Industrial Valves Market is growing at a CAGR of >5% over the next 5 years.

Emerson Electric Co., KITZ Corporation, Flowserve Corporation, Baker Hughes, IMI Critical Engineering are the major companies operating in Asia-Pacific Industrial Valves Market.

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