The Global Industrial Valves Market size is expected to reach $91.4 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period.
Smart valves with smart control systems are also anticipated to get significant importance, further stimulating the growth of the market in the upcoming years. The high automation and control through industrial valves enhance their performance in dangerous applications like nuclear power generation plants, chemical processing, oil & gas, and others. Additionally, the application of automated technology has aided in decreasing the wastage of fluids passing via valves and pipes, leading to the reduction in overall prices.
As a result, several businesses are accepting automation and control technologies by improving their already installed industrial valves that is propelling the growth of the industrial valves market. Furthermore, the growing concern regarding sanitation would further surge the need for stainless steel valves in water and wastewater treatment plants.
This is because the stainless-steel valves can deal with harsh temperatures, chemicals and hard water conditions due to their quality of resisting corrosion. Furthermore, stainless steel is durable compared to other materials like ductile iron, cast iron, copper, and brass under temperature tolerance and pressure rating. Therefore, stainless steel is considered better option than the carbon steel in applications where resistance from corrosion is crucial.
Thus, stainless steel ball valves are majorly being demanded by industry verticals like food & beverages, chemicals, pharmaceuticals, and oil & gas. The on or off valves are one of the most indispensable and fundamental components of the modern technological society. These are one among the oldest products being used from many years. The valve industry is very vast, with several utilization varying from downstream and upstream of oil & gas to nuclear power to water distribution. All of these end-user industry verticals utilize one or another kind of valve.
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.
Smart valves with smart control systems are also anticipated to get significant importance, further stimulating the growth of the market in the upcoming years. The high automation and control through industrial valves enhance their performance in dangerous applications like nuclear power generation plants, chemical processing, oil & gas, and others. Additionally, the application of automated technology has aided in decreasing the wastage of fluids passing via valves and pipes, leading to the reduction in overall prices.
As a result, several businesses are accepting automation and control technologies by improving their already installed industrial valves that is propelling the growth of the industrial valves market. Furthermore, the growing concern regarding sanitation would further surge the need for stainless steel valves in water and wastewater treatment plants.
This is because the stainless-steel valves can deal with harsh temperatures, chemicals and hard water conditions due to their quality of resisting corrosion. Furthermore, stainless steel is durable compared to other materials like ductile iron, cast iron, copper, and brass under temperature tolerance and pressure rating. Therefore, stainless steel is considered better option than the carbon steel in applications where resistance from corrosion is crucial.
Thus, stainless steel ball valves are majorly being demanded by industry verticals like food & beverages, chemicals, pharmaceuticals, and oil & gas. The on or off valves are one of the most indispensable and fundamental components of the modern technological society. These are one among the oldest products being used from many years. The valve industry is very vast, with several utilization varying from downstream and upstream of oil & gas to nuclear power to water distribution. All of these end-user industry verticals utilize one or another kind of valve.
COVID-19 Impact Analysis
The energy & power and water & wastewater treatment plants also witnessed a decline in their demand due to COVID-19 pandemic. Also, the manufacturing sector has been significantly impacted by COVID-19 in almost every nation. In addition, there were restrictions on foreign trade because of the non-operational distribution channels, lockdown of international borders, and several other preventive steps taken for public safety and health. Due to these reasons, significant end-user manufacturing businesses in nations like the UK, Germany, the U.S., and others also encountered financial problems because of the halted production. These factors obstructed the growth of the industrial valves market throughout the pandemic period.Market Growth Factors
Growing demand for valves in pharmaceuticals and healthcare
Valves can keep materials and components clean in oxygen therapy devices and sterilizers, support analyzers, manage pressure relief, and other essential hematology equipment. The high-purity and high-pressure valves also supply oxygen to remote and pop-up hospitals and triage centers. The increase in the utilization of industrial valves in the pharmaceutical sector to prevent contamination that might occur because of inefficient handling of chemicals is accelerating the market's growth. In addition, the integration of industrial valves in the pharmaceutical industry has become significant with the necessity for high-quality pharmaceutics. These factors will support the growth of industrial valves market during the projection period.Technological developments and utilization of IIoT
The 'Industry 4.0'upgrade has pushed the manufacturing industry more towards automation, which further assists in increasing the quality of the work and process. Technological developments occurred in recent past have allowed the businesses to utilize the latest technologies like IIoT technology and AI (artificial intelligence) to reduce unplanned downtime and several other unfavourable incidents because of the failures of valves. These valve technologies assist the experts in monitoring the condition and health of industrial valves from remote areas. These elements will surge the growth of the industrial valves market throughout the predicted period.Market Restraining Factor
Issues with industrial valves
Despite of various benefits, industrial valves also face various issues. These issues involve flashing & cavitation, limited rangeability, erosion & corrosion, and vibrations. Sudden falling of pressure from high to low may lead to flashing & cavitation in globe valves. When these circumstances occur, there will be a decline in the quantity of liquid that flows through the line. This forces the workers to stop the line to solve the problem. These issues with industrial valves will obstruct the growth of the industrial valve market in the upcoming years.Material Type Outlook
Based on material type, the industrial valves market is segmented into cast iron, steel, alloy based, and others. In 2021, the cast iron segment garnered a substantial revenue share in the industrial valves market. Cast iron or grey iron is a metal that has been utilized for hundreds of years. Its temperature tolerance is impressive and can handle temperatures above 1150C or 2100F. The strength of cast iron relies on the pressure class. The two most common pressure classes are class 250 and class 125. The pressure rating of class 125 is between 150 and 200 psi, whereas the pressure rating of class 250 is between 300 to 500 psi.
Type Outlook
On the basis of type, the industrial valves market is fragmented into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, and diaphragm valves. In 2021, the gate valves segment acquired a considerable revenue share in the industrial valves market. These valves are capable of completely shutting off the flow of fluid. It could also operate in a fully open position. They could be of the wedge and parallel shape types. Gate valves can also provide a path to the fluid through a barrier lift. These factors will influence the adoption of gate valves and thus supporting the development of the industrial valves market.Application Outlook
By application, the industrial valves market is divided into oil & gas, water & wastewater, chemical, food & beverage, and others. In 2021, the oil & gas segment held the largest revenue share in the industrial valves market. Rising demand for longer pipelines, deeper wells, lower manufacturing costs, and technological advancements of processing, and transportation are responsible for the growth of the industrial valves market. Furthermore, expanding pipeline installations and the necessity for controlling & monitoring from the centralized location have driven the production and demand for smart valves.Regional Outlook
Region-wise, the industrial valves market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region dominated the industrial valves market with the maximum revenue share. In Asia Pacific, the water & wastewater treatment facilities are increasing the utilization of industrial valves significantly. The high per capita income, dense population, rapid urbanization, and large-scale industrialization are the significant factors that are driving the expansion of the industrial valves market in the APAC region.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 Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 Global Industrial Valves Market, by Type
1.4.2 Global Industrial Valves Market, by Material Type
1.4.3 Global Industrial Valves Market, by Application
1.4.4 Global Industrial Valves Market, by Geography
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. Global Industrial Valves Market by Type
3.1 Global Globe Valves Market by Region
3.2 Global Gate Valves Market by Region
3.3 Global Plug Valves Market by Region
3.4 Global Check Valves Market by Region
3.5 Global Butterfly Valves Market by Region
3.6 Global Ball Valves Market by Region
3.7 Global Diaphragm Valves Market by Region
Chapter 4. Global Industrial Valves Market by Material Type
4.1 Global Steel Market by Region
4.2 Global Cast Iron Market by Region
4.3 Global Alloy Based Market by Region
4.4 Global Others Market by Region
Chapter 5. Global Industrial Valves Market by Application
5.1 Global Oil & Power Market by Region
5.2 Global Chemical Market by Region
5.3 Global Water & Wastewater Market by Region
5.4 Global Food & Beverages Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Industrial Valves Market by Region
6.1 North America Industrial Valves Market
6.1.1 North America Industrial Valves Market by Type
6.1.1.1 North America Globe Valves Market by Country
6.1.1.2 North America Gate Valves Market by Country
6.1.1.3 North America Plug Valves Market by Country
6.1.1.4 North America Check Valves Market by Country
6.1.1.5 North America Butterfly Valves Market by Country
6.1.1.6 North America Ball Valves Market by Country
6.1.1.7 North America Diaphragm Valves Market by Country
6.1.2 North America Industrial Valves Market by Material Type
6.1.2.1 North America Steel Market by Country
6.1.2.2 North America Cast Iron Market by Country
6.1.2.3 North America Alloy Based Market by Country
6.1.2.4 North America Others Market by Country
6.1.3 North America Industrial Valves Market by Application
6.1.3.1 North America Oil & Power Market by Country
6.1.3.2 North America Chemical Market by Country
6.1.3.3 North America Water & Wastewater Market by Country
6.1.3.4 North America Food & Beverages Market by Country
6.1.3.5 North America Others Market by Country
6.1.4 North America Industrial Valves Market by Country
6.1.4.1 US Industrial Valves Market
6.1.4.1.1 US Industrial Valves Market by Type
6.1.4.1.2 US Industrial Valves Market by Material Type
6.1.4.1.3 US Industrial Valves Market by Application
6.1.4.2 Canada Industrial Valves Market
6.1.4.2.1 Canada Industrial Valves Market by Type
6.1.4.2.2 Canada Industrial Valves Market by Material Type
6.1.4.2.3 Canada Industrial Valves Market by Application
6.1.4.3 Mexico Industrial Valves Market
6.1.4.3.1 Mexico Industrial Valves Market by Type
6.1.4.3.2 Mexico Industrial Valves Market by Material Type
6.1.4.3.3 Mexico Industrial Valves Market by Application
6.1.4.4 Rest of North America Industrial Valves Market
6.1.4.4.1 Rest of North America Industrial Valves Market by Type
6.1.4.4.2 Rest of North America Industrial Valves Market by Material Type
6.1.4.4.3 Rest of North America Industrial Valves Market by Application
6.2 Europe Industrial Valves Market
6.2.1 Europe Industrial Valves Market by Type
6.2.1.1 Europe Globe Valves Market by Country
6.2.1.2 Europe Gate Valves Market by Country
6.2.1.3 Europe Plug Valves Market by Country
6.2.1.4 Europe Check Valves Market by Country
6.2.1.5 Europe Butterfly Valves Market by Country
6.2.1.6 Europe Ball Valves Market by Country
6.2.1.7 Europe Diaphragm Valves Market by Country
6.2.2 Europe Industrial Valves Market by Material Type
6.2.2.1 Europe Steel Market by Country
6.2.2.2 Europe Cast Iron Market by Country
6.2.2.3 Europe Alloy Based Market by Country
6.2.2.4 Europe Others Market by Country
6.2.3 Europe Industrial Valves Market by Application
6.2.3.1 Europe Oil & Power Market by Country
6.2.3.2 Europe Chemical Market by Country
6.2.3.3 Europe Water & Wastewater Market by Country
6.2.3.4 Europe Food & Beverages Market by Country
6.2.3.5 Europe Others Market by Country
6.2.4 Europe Industrial Valves Market by Country
6.2.4.1 Germany Industrial Valves Market
6.2.4.1.1 Germany Industrial Valves Market by Type
6.2.4.1.2 Germany Industrial Valves Market by Material Type
6.2.4.1.3 Germany Industrial Valves Market by Application
6.2.4.2 UK Industrial Valves Market
6.2.4.2.1 UK Industrial Valves Market by Type
6.2.4.2.2 UK Industrial Valves Market by Material Type
6.2.4.2.3 UK Industrial Valves Market by Application
6.2.4.3 France Industrial Valves Market
6.2.4.3.1 France Industrial Valves Market by Type
6.2.4.3.2 France Industrial Valves Market by Material Type
6.2.4.3.3 France Industrial Valves Market by Application
6.2.4.4 Russia Industrial Valves Market
6.2.4.4.1 Russia Industrial Valves Market by Type
6.2.4.4.2 Russia Industrial Valves Market by Material Type
6.2.4.4.3 Russia Industrial Valves Market by Application
6.2.4.5 Spain Industrial Valves Market
6.2.4.5.1 Spain Industrial Valves Market by Type
6.2.4.5.2 Spain Industrial Valves Market by Material Type
6.2.4.5.3 Spain Industrial Valves Market by Application
6.2.4.6 Italy Industrial Valves Market
6.2.4.6.1 Italy Industrial Valves Market by Type
6.2.4.6.2 Italy Industrial Valves Market by Material Type
6.2.4.6.3 Italy Industrial Valves Market by Application
6.2.4.7 Rest of Europe Industrial Valves Market
6.2.4.7.1 Rest of Europe Industrial Valves Market by Type
6.2.4.7.2 Rest of Europe Industrial Valves Market by Material Type
6.2.4.7.3 Rest of Europe Industrial Valves Market by Application
6.3 Asia Pacific Industrial Valves Market
6.3.1 Asia Pacific Industrial Valves Market by Type
6.3.1.1 Asia Pacific Globe Valves Market by Country
6.3.1.2 Asia Pacific Gate Valves Market by Country
6.3.1.3 Asia Pacific Plug Valves Market by Country
6.3.1.4 Asia Pacific Check Valves Market by Country
6.3.1.5 Asia Pacific Butterfly Valves Market by Country
6.3.1.6 Asia Pacific Ball Valves Market by Country
6.3.1.7 Asia Pacific Diaphragm Valves Market by Country
6.3.2 Asia Pacific Industrial Valves Market by Material Type
6.3.2.1 Asia Pacific Steel Market by Country
6.3.2.2 Asia Pacific Cast Iron Market by Country
6.3.2.3 Asia Pacific Alloy Based Market by Country
6.3.2.4 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Industrial Valves Market by Application
6.3.3.1 Asia Pacific Oil & Power Market by Country
6.3.3.2 Asia Pacific Chemical Market by Country
6.3.3.3 Asia Pacific Water & Wastewater Market by Country
6.3.3.4 Asia Pacific Food & Beverages Market by Country
6.3.3.5 Asia Pacific Others Market by Country
6.3.4 Asia Pacific Industrial Valves Market by Country
6.3.4.1 China Industrial Valves Market
6.3.4.1.1 China Industrial Valves Market by Type
6.3.4.1.2 China Industrial Valves Market by Material Type
6.3.4.1.3 China Industrial Valves Market by Application
6.3.4.2 Japan Industrial Valves Market
6.3.4.2.1 Japan Industrial Valves Market by Type
6.3.4.2.2 Japan Industrial Valves Market by Material Type
6.3.4.2.3 Japan Industrial Valves Market by Application
6.3.4.3 India Industrial Valves Market
6.3.4.3.1 India Industrial Valves Market by Type
6.3.4.3.2 India Industrial Valves Market by Material Type
6.3.4.3.3 India Industrial Valves Market by Application
6.3.4.4 South Korea Industrial Valves Market
6.3.4.4.1 South Korea Industrial Valves Market by Type
6.3.4.4.2 South Korea Industrial Valves Market by Material Type
6.3.4.4.3 South Korea Industrial Valves Market by Application
6.3.4.5 Singapore Industrial Valves Market
6.3.4.5.1 Singapore Industrial Valves Market by Type
6.3.4.5.2 Singapore Industrial Valves Market by Material Type
6.3.4.5.3 Singapore Industrial Valves Market by Application
6.3.4.6 Malaysia Industrial Valves Market
6.3.4.6.1 Malaysia Industrial Valves Market by Type
6.3.4.6.2 Malaysia Industrial Valves Market by Material Type
6.3.4.6.3 Malaysia Industrial Valves Market by Application
6.3.4.7 Rest of Asia Pacific Industrial Valves Market
6.3.4.7.1 Rest of Asia Pacific Industrial Valves Market by Type
6.3.4.7.2 Rest of Asia Pacific Industrial Valves Market by Material Type
6.3.4.7.3 Rest of Asia Pacific Industrial Valves Market by Application
6.4 LAMEA Industrial Valves Market
6.4.1 LAMEA Industrial Valves Market by Type
6.4.1.1 LAMEA Globe Valves Market by Country
6.4.1.2 LAMEA Gate Valves Market by Country
6.4.1.3 LAMEA Plug Valves Market by Country
6.4.1.4 LAMEA Check Valves Market by Country
6.4.1.5 LAMEA Butterfly Valves Market by Country
6.4.1.6 LAMEA Ball Valves Market by Country
6.4.1.7 LAMEA Diaphragm Valves Market by Country
6.4.2 LAMEA Industrial Valves Market by Material Type
6.4.2.1 LAMEA Steel Market by Country
6.4.2.2 LAMEA Cast Iron Market by Country
6.4.2.3 LAMEA Alloy Based Market by Country
6.4.2.4 LAMEA Others Market by Country
6.4.3 LAMEA Industrial Valves Market by Application
6.4.3.1 LAMEA Oil & Power Market by Country
6.4.3.2 LAMEA Chemical Market by Country
6.4.3.3 LAMEA Water & Wastewater Market by Country
6.4.3.4 LAMEA Food & Beverages Market by Country
6.4.3.5 LAMEA Others Market by Country
6.4.4 LAMEA Industrial Valves Market by Country
6.4.4.1 Brazil Industrial Valves Market
6.4.4.1.1 Brazil Industrial Valves Market by Type
6.4.4.1.2 Brazil Industrial Valves Market by Material Type
6.4.4.1.3 Brazil Industrial Valves Market by Application
6.4.4.2 Argentina Industrial Valves Market
6.4.4.2.1 Argentina Industrial Valves Market by Type
6.4.4.2.2 Argentina Industrial Valves Market by Material Type
6.4.4.2.3 Argentina Industrial Valves Market by Application
6.4.4.3 UAE Industrial Valves Market
6.4.4.3.1 UAE Industrial Valves Market by Type
6.4.4.3.2 UAE Industrial Valves Market by Material Type
6.4.4.3.3 UAE Industrial Valves Market by Application
6.4.4.4 Saudi Arabia Industrial Valves Market
6.4.4.4.1 Saudi Arabia Industrial Valves Market by Type
6.4.4.4.2 Saudi Arabia Industrial Valves Market by Material Type
6.4.4.4.3 Saudi Arabia Industrial Valves Market by Application
6.4.4.5 South Africa Industrial Valves Market
6.4.4.5.1 South Africa Industrial Valves Market by Type
6.4.4.5.2 South Africa Industrial Valves Market by Material Type
6.4.4.5.3 South Africa Industrial Valves Market by Application
6.4.4.6 Nigeria Industrial Valves Market
6.4.4.6.1 Nigeria Industrial Valves Market by Type
6.4.4.6.2 Nigeria Industrial Valves Market by Material Type
6.4.4.6.3 Nigeria Industrial Valves Market by Application
6.4.4.7 Rest of LAMEA Industrial Valves Market
6.4.4.7.1 Rest of LAMEA Industrial Valves Market by Type
6.4.4.7.2 Rest of LAMEA Industrial Valves Market by Material Type
6.4.4.7.3 Rest of LAMEA 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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