The North America Industrial Valves Market should witness market growth of 4.7% CAGR during the forecast period (2022-2028).
Control valve automation has developed substantially because of the increasing focus on precise automation and positioning industrial valves. A valve positioner transforms electrical signals to pneumatic signals to control the valve's knob in control valves. Therefore, automation in the valve positioner offers increased reliability, greater efficiency, and lower energy consumption, which propels the growth of the industrial valve market.
The rising automation in industrial processes, along with rapid industrialization, is one of the significant factors propelling the market's growth. Despite of this, the rising number of exploration activities in the oil & gas industry at offshore locations along with the increasing demand for energy are significant growth factors of the market. Furthermore, increasing petroleum refining plants and nuclear power stations, as well as growing pipeline installations and rapidly increasing demand for controlling and monitoring them from a centralized location, are impacting the market growth positively.
Canada is the fourth-largest producer of crude oil and the fifth-largest producer of natural gas globally, making it a leader in the oil and gas industry. The oil sands are home to 97% of Canada's known oil reserves. Since 2000, the amount of GHG emissions produced by an oil sands barrel of oil has decreased by 33%. The daily processing capacity of Canadian refineries is close to 2 million barrels of crude oil. The growing oil & gas industry would surge the usage of industrial valves, thereby supporting market growth.
The US market dominated the North America Industrial Valves Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $18068.1 Million by 2028. The Canada market is poised to grow at a CAGR of 7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 6.1% during (2022-2028).
Based on Type, the market is segmented into Globe Valves, Gate Valves, Plug Valves, Check Valves, Butterfly Valves, Ball Valves and Diaphragm Valves. Based on Material Type, the market is segmented into Steel, Cast Iron, Alloy Based, and Others. Based on Application, the market is segmented into Oil & Power, Chemical, Water & Wastewater, Food & Beverages and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V., IMI Plc., Crane Co., Flowserve Corporation, Metso Outotec Corporation, The Weir Group PLC, AVK Holding A/S, Avcon Controls Pvt. Ltd., and Forbes Marshall Pvt. Ltd.
Control valve automation has developed substantially because of the increasing focus on precise automation and positioning industrial valves. A valve positioner transforms electrical signals to pneumatic signals to control the valve's knob in control valves. Therefore, automation in the valve positioner offers increased reliability, greater efficiency, and lower energy consumption, which propels the growth of the industrial valve market.
The rising automation in industrial processes, along with rapid industrialization, is one of the significant factors propelling the market's growth. Despite of this, the rising number of exploration activities in the oil & gas industry at offshore locations along with the increasing demand for energy are significant growth factors of the market. Furthermore, increasing petroleum refining plants and nuclear power stations, as well as growing pipeline installations and rapidly increasing demand for controlling and monitoring them from a centralized location, are impacting the market growth positively.
Canada is the fourth-largest producer of crude oil and the fifth-largest producer of natural gas globally, making it a leader in the oil and gas industry. The oil sands are home to 97% of Canada's known oil reserves. Since 2000, the amount of GHG emissions produced by an oil sands barrel of oil has decreased by 33%. The daily processing capacity of Canadian refineries is close to 2 million barrels of crude oil. The growing oil & gas industry would surge the usage of industrial valves, thereby supporting market growth.
The US market dominated the North America Industrial Valves Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $18068.1 Million by 2028. The Canada market is poised to grow at a CAGR of 7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 6.1% during (2022-2028).
Based on Type, the market is segmented into Globe Valves, Gate Valves, Plug Valves, Check Valves, Butterfly Valves, Ball Valves and Diaphragm Valves. Based on Material Type, the market is segmented into Steel, Cast Iron, Alloy Based, and Others. Based on Application, the market is segmented into Oil & Power, Chemical, Water & Wastewater, Food & Beverages and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V., IMI Plc., Crane Co., Flowserve Corporation, Metso Outotec Corporation, The Weir Group PLC, AVK Holding A/S, Avcon Controls Pvt. Ltd., and Forbes Marshall Pvt. Ltd.
Scope of the Study
By Type
- Globe Valves
- Gate Valves
- Plug Valves
- Check Valves
- Butterfly Valves
- Ball Valves
- Diaphragm Valves
By Material Type
- Steel
- Cast Iron
- Alloy Based
- Others
By Application
- Oil & Power
- Chemical
- Water & Wastewater
- Food & Beverages
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Emerson Electric Co.
- Schlumberger N.V.
- IMI Plc.
- Crane Co.
- Flowserve Corporation
- Metso Outotec Corporation
- The Weir Group PLC
- AVK Holding A/S
- Avcon Controls Pvt. Ltd.
- Forbes Marshall Pvt. Ltd
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Industrial Valves Market, by Type
1.4.2 North America Industrial Valves Market, by Material Type
1.4.3 North America Industrial Valves Market, by Application
1.4.4 North America Industrial Valves Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Industrial Valves Market by Type
3.1 North America Globe Valves Market by Country
3.2 North America Gate Valves Market by Country
3.3 North America Plug Valves Market by Country
3.4 North America Check Valves Market by Country
3.5 North America Butterfly Valves Market by Country
3.6 North America Ball Valves Market by Country
3.7 North America Diaphragm Valves Market by Country
Chapter 4. North America Industrial Valves Market by Material Type
4.1 North America Steel Market by Country
4.2 North America Cast Iron Market by Country
4.3 North America Alloy Based Market by Country
4.4 North America Others Market by Country
Chapter 5. North America Industrial Valves Market by Application
5.1 North America Oil & Power Market by Country
5.2 North America Chemical Market by Country
5.3 North America Water & Wastewater Market by Country
5.4 North America Food & Beverages Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Industrial Valves Market by Country
6.1 US Industrial Valves Market
6.1.1 US Industrial Valves Market by Type
6.1.2 US Industrial Valves Market by Material Type
6.1.3 US Industrial Valves Market by Application
6.2 Canada Industrial Valves Market
6.2.1 Canada Industrial Valves Market by Type
6.2.2 Canada Industrial Valves Market by Material Type
6.2.3 Canada Industrial Valves Market by Application
6.3 Mexico Industrial Valves Market
6.3.1 Mexico Industrial Valves Market by Type
6.3.2 Mexico Industrial Valves Market by Material Type
6.3.3 Mexico Industrial Valves Market by Application
6.4 Rest of North America Industrial Valves Market
6.4.1 Rest of North America Industrial Valves Market by Type
6.4.2 Rest of North America Industrial Valves Market by Material Type
6.4.3 Rest of North America Industrial Valves Market by Application
Chapter 7. Company Profiles
7.1 Emerson Electric Co.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.5.2 Acquisition and Mergers:
7.2 Schlumberger N.V.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.3 IMI Plc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segment & Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.4 Crane Co.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.5 Flowserve Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.6 Metso Outotec Corporation
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 The Weir Group PLC
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.8 AVK Holding A/S
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Acquisition and Mergers:
7.9 Avcon Controls Pvt. Ltd.
7.9.1 Company Overview
7.10. Forbes Marshall Pvt. Ltd
7.10.1 Company Overview
Companies Mentioned
- Emerson Electric Co.
- Schlumberger N.V.
- IMI Plc.
- Crane Co.
- Flowserve Corporation
- Metso Outotec Corporation
- The Weir Group PLC
- AVK Holding A/S
- Avcon Controls Pvt. Ltd.
- Forbes Marshall Pvt. Ltd
Methodology
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