|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The industrial valves market was projected to register a CAGR of over 4% during the forecast period (2022-2027).
Oil and gas is one of the key industries using valves. The industry was halted during the lockdown. Owing to this factor, COVID-19 has negatively impacted the industrial valves market. However, the market is expected to observe steady growth by the end of 2022.
- Over the medium term, the major factors driving the market studied are the growing demand from the power and chemical industries.
- On the flip side, stagnant industrial growth in developed countries is expected to hinder the growth of the market studied.
- The Asia-Pacific region is expected to dominate the market, and it is estimated to witness the highest CAGR during the forecast period.
Scope of the Report
Industrial valves are mechanical devices that open, close, or partially obstruct passageways to regulate the flow of liquid or gas within a system. The industrial valves market is segmented by type, product, application, and geography. By type, the market is segmented into butterfly valve, ball valve, globe valve, gate valve, plug valve, and other types. By product, the market is segmented into quarter-turn valve, multi-turn valve, and other products. By application, the market is segmented into power, water and wastewater management, chemicals, oil and gas, and other applications, including food processing, mining, and marine. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Water and Wastewater Management|
|Oil and Gas|
|Other Applications (includes Food Processing, Mining, and Marine)|
Key Market Trends
Increasing Demand from the Power Industry
- In the power industry, valves are used for various applications, such as boiler startups, feed pump recirculation, steam conditioning, and turbine bypass.
- For instance, valves in the condensate system are used to control and regulate the additional flow required for a fluid recirculation condensate pump. Furthermore, valves are also used to control the deaerator level for the feedwater heater.
- For the feedwater system in the power industry, valves are used for boiler feed pump recirculation, and the valve plays a key role in this scenario, as it should be operated in on-off and modulating service.
- Additionally, in mainstream systems, the valves are used for superheaters, turbine bypass, superheater bypass, etc. A modulating valve is used for controlling pressure.
- By 2030, the global electricity demand is estimated to grow by 75%. Even though the energy generated by renewables sources is proliferating, the scale of electricity produced by them is not enough to satiate the rapidly growing demand.
- According to the World Energy Outlook- International Energy Agency forecast, more than 2,457 gigawatts (GW) of power capacity is expected to be installed worldwide over the next 25 years.
- Additionally, the government’s focus on increasing the capacity additions of power plants across the country is the factor that is boosting the demand for valves in the power industry.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share. With growing oil and gas industrial activities and the increasing need for water treatment in countries such as China, India, and Japan, the usage of industrial valves is increasing in the region.
- The Asia-Pacific region is the leading contributor to the world’s specialty chemicals economy, holding a significant revenue share of nearly 36%.
- Southeast Asia is expected to start a total of 54 oil and gas projects across six countries between 2019 and 2025. Together, they would represent about 223,000 barrels per day of global crude production and about 8.1 billion cubic feet per day of global gas production in 2025.
- Water-Water treatment plants are also being increasingly produced following massive industrialization in countries such as China, India, and the ASEAN region,
- The aforementioned factors, coupled with government support, are expected to contribute to the increasing demand for industrial valves consumption in the region during the forecast period.
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The industrial valves market is highly fragmented, with the top 10 players accounting for 15% of the total market share. The major companies (in no particular order) include Schlumberger Limited, Emerson Electric Co., Flowserve Corporation, IMI, and Crane Co.
- The recent developments pertaining to the major players in the market are being covered in the complete study.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Demand from the Power Industry
4.1.2 Increase in Demand for Desalination Activity
4.2.1 Stagnant Industrial Growth in Developed Countries
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Globe Valve
5.1.2 Ball Valve
5.1.3 Butterfly Valve
5.1.4 Gate Valve
5.1.5 Plug Valve
5.1.6 Other Types
5.2.1 Quarter-turn Valve
5.2.2 Multi-turn Valve
5.2.3 Other Products
5.3.2 Water and Wastewater Management
5.3.4 Oil and Gas
5.3.5 Other Applications (includes Food Processing, Mining, and Marine)
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle East & Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALFA LAVAL
6.4.2 AVK Holding AS
6.4.3 CIRCOR International Inc.
6.4.4 Crane Co.
6.4.5 Curtiss-Wright Corporation
6.4.6 Danfoss AS
6.4.7 Zhejiang Dunan Valve Co. Ltd
6.4.8 Emerson Electric Co.
6.4.9 Flowserve Corporation
6.4.10 Baker Hughes
6.4.11 Georg Fischer Ltd
6.4.12 Hitachi Ltd
6.4.13 Honeywell International Inc.
6.4.15 ITT Inc.
6.4.16 KITZ Corporation
6.4.17 KLINGER Group
6.4.18 Mueller Water Products Inc.
6.4.19 NIBCO Inc.
6.4.20 Okano Valve Mfg. Co. Ltd
6.4.22 Schlumberger Limited
6.4.23 TechnipFMC PLC
6.4.24 The Weir Group PLC
6.4.25 Valvitalia SpA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increase in Demand for Automatic Valves
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Frequently Asked Questions
What is the study period of this market?
The Industrial Valves Market market is studied from 2017 - 2027.
What is the growth rate of Industrial Valves Market?
The Industrial Valves Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Industrial Valves Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Industrial Valves Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Industrial Valves Market?
Schlumberger Limited, Emerson Electric Co. , Flowserve Corporation , Crane Co. , IMI are the major companies operating in Industrial Valves Market.