Market Size of Industrial Valves Industry
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 70.97 Billion |
| Market Size (2029) | USD 88.53 Billion |
| CAGR (2024 - 2029) | 4.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Valves Market Analysis
The Industrial Valves Market size is estimated at USD 70.97 billion in 2024, and is expected to reach USD 88.53 billion by 2029, growing at a CAGR of 4.52% during the forecast period (2024-2029).
The oil and gas industry is one of the key industries that use valves. The industry was negatively impacted during the lockdown because of the outbreak of the COVID-19 pandemic in 2020. Owing to the global rise in vaccinations and government initiatives to boost the economy, the oil and gas industry started to recover with other industries, leading to increased demand for industrial valves.
Over the short term, the major factors driving the market studied are the growing demand from the power and chemical industries. The increase in demand for desalination activity has also driven the market's growth.
However, stagnant industrial growth in developed countries is expected to hinder the growth of the market studied.
Nevertheless, an increase in demand for automatic valves is expected to increase the demand for industrial valves over the forecast period.
The Asia-Pacific region is expected to dominate the market and register the highest CAGR during the forecast period.
