Metal Valve Global Market Report 2024

The metal valves market size has grown strongly in recent years. It will grow from $287.78 billion in 2023 to $304.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed during the historical period can be attributed to factors such as industrialization, the expansion of the oil and gas industry, developments in water and wastewater infrastructure, increased energy production, and the growth of the manufacturing sector.

The metal valves market size is expected to see steady growth in the next few years. It will grow to $369.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be linked to factors such as the transition to green energy solutions, the adoption of smart and IoT-enabled valves, the pursuit of solutions to address water scarcity, the influence of environmental regulations, and ongoing global infrastructure upgrades. Key trends expected in the forecast period encompass the development of energy-efficient valves, the implementation of digital twin technology, innovation in valve materials, a focus on customization and specialization, as well as the expansion of remote valve control technologies.

The anticipated growth of the chemical industry is poised to drive the expansion of the metal valves market in the coming years. Various types of metal valves, including butterfly valves, ball valves, gate valves, check valves, globe valves, plug valves, and actuated valves, play a crucial role in chemical processing, thus contributing to the market's growth. A report from the American Chemistry Council (ACC), a US-based industry trade association, highlights the robust chemical production in the US, with all chemical businesses experiencing growth. The ACC projects a 2.4% increase in output in 2023, coupled with a 5.5% rise in capital project spending in the same year. Consequently, the growth of the chemical industry is expected to be a driving force behind the metal valves market's expansion.

The primary categories within the realm of metal valves comprise industrial valves, fluid power valves, hose fittings, plumbing fixture fittings and trim, and other specialized types. Industrial valves serve as devices employed to regulate the flow of liquids, gases, and slurries, typically by opening, closing, or partially obstructing passageways or pipes. These valves encompass a range of products such as pressure-reducing valves, safety/relief valves, control valves, globe valves, plug valves, gate valves, ball valves, butterfly valves, diaphragm valves, and others. These valves find applications across diverse industries, including chemicals, marine, construction, mining, oil & gas, and other sectors.

The metal valves market research report is one of a series of new reports that provides metal valves market statistics, including metal valves industry global market size, regional shares, competitors with a metal valves market share, detailed metal valves market segments, market trends and opportunities, and any further data you may need to thrive in the metal valves industry. This metal valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global market for metal valves is set to grow, thanks to the expansion of the infrastructure sector driven by urbanization and population growth. The infrastructure sector encompasses the essential physical and organizational structures, facilities, and systems required for a society and its economy to function effectively. Metal valves are essential for fluid management in infrastructure projects, including water supply systems, wastewater treatment facilities, and power generation plants. In 2022, private participation in infrastructure (PPI) commitments, as reported by the World Bank, reached $91.7 billion across 263 projects, marking a 23% increase from the previous year. South Asia saw impressive private sector investments of $13.9 billion in 2022, the highest in the past decade and over 15% of total commitments. Therefore, the expanding infrastructure sector is a significant driver behind the metal valve market's growth.

To meet the rising consumer demand for lightweight, faster, and fuel-efficient automobiles, companies in this market have increasingly adopted metal additive manufacturing. This trend is particularly prominent in countries like Germany, Japan, China, and India, where substantial investments have been made in metal additive manufacturing technology, leading to process enhancements and a reduction in production costs.

The metal valve market is witnessing a prominent trend of product innovation, with major companies in the sector focusing on introducing new products featuring innovative technology and features to gain a competitive edge. In 2022, Warren Controls, a US-based valve manufacturer serving various industries, launched its industrial control valves Series 2900. These valves find applications in industries such as food and beverages and various manufacturing processes. The unique attributes and innovative features of these products include a robust cast iron body and a range of trim materials, such as bronze, 300 stainless steel, 17-4PH stainless steel, and Alloy 6, among others.

Major companies operating in the metal valve market are also pioneering the development of new products, including 3D-printed valves, to maintain their competitive position. 3D-printed valves are fully functional valves capable of controlling air or water, created using 3D printing technology. In September 2023, through collaboration between 3DR Holdings, a US-based technology media organization, and Bonney Forge, a US-based manufacturing company, a 3D-printed valve made from stainless steel alloy UNS S31603 received certification at the 3D Printing Center of Excellence. Shell has recognized this certification. The utilization of 3D printing technology for valve manufacturing represents a technological advancement, enabling the creation of complex geometries and customized designs that were previously challenging to produce.

Major companies operating in the metal valve market include Parker-Hannifin Corporation, Emerson Electric Co, IMI PLC, Atlas Copco AB, The Flowserve Corporation, The Crane Company, KITZ Corporation, Metso Oyj, Spectrum Brands Holdings Inc., Globe Union Industrial Corp., Parker Hannifin Corporation, The Weir Group PLC, Cameron International, Rotork PLC, Velan Inc., Curtiss-Wright Corporation, Neway Valve (Suzhou) Co. Ltd., Spirax-Sarco Engineering PLC, Forum Energy Technologies, CIRCOR International Inc., Apollo Valves (Conbraco Industries), Bonney Forge Corporation, Watts Water Technologies Inc., Dwyer Instruments Inc., Bray International Inc., Leslie Controls Inc., SAMSON Controls Inc., Swagelok Company, Marwin Valve, Sun Hydraulics Corporation, MOGAS Industries Inc., Ayvaz, VAG Group, Nihon KOSO Co. Ltd.

The Asia-Pacific was the largest region in the metal valve market in 2023. Western Europe was the second-largest region in the metal valve market. The regions covered in the metal valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the metal valve market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The metal valve market consists of sales of air valves, liquid supply valves, and slurry valves. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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