Industrial Valves Market Report and Forecast 2024-2032

Market Outlook

According to this report, the industrial valves market size reached a value of USD 77.13 billion in 2023. Aided by the increasing demand for efficient flow control systems and the growing applications of industrial valves in various sectors, the market is projected to further grow at a CAGR of 4.6% between 2024 and 2032 to reach a value of USD 115.95 billion by 2032.

Industrial valves are essential components used in various applications to control the flow and pressure of liquids, gases, and slurries within a system. They are critical in sectors such as oil and gas, water and wastewater, power generation, chemicals, and food and beverages, among others. Valves come in different types, including gate valves, globe valves, ball valves, butterfly valves, and check valves, each serving specific functions based on the application requirements.

The increasing demand for efficient flow control systems is driving the industrial valves market growth. With the growing complexity of industrial processes and the need for precise control over fluid dynamics, there has been a significant shift towards the adoption of advanced valve solutions. Additionally, the rising trend of automation in various sectors has further contributed to the increasing popularity of industrial valves, as they play a crucial role in automated systems.

The expanding applications of industrial valves in various sectors also play a significant role in propelling the market. In the oil and gas sector, valves are used to manage the flow of crude oil, natural gas, and other hydrocarbons. The water and wastewater sector utilises valves for water distribution, treatment, and sewage management. Moreover, the power generation industry relies on valves for controlling steam, water, and gas flows in power plants.

Further, the growing focus on sustainable and efficient industrial operations has led to an increased demand for innovative valve solutions. With the rise of environmentally conscious practices and the need to reduce operational costs, industrial valve manufacturers are increasingly focusing on developing sustainable and efficient products. This trend is expected to boost the industrial valves market expansion in the coming years, consequently driving up the industrial valves market share.

North America is a significant market for industrial valves, driven by the high demand for efficient flow control systems in sectors such as oil and gas, water and wastewater, and power generation. The region's focus on technological advancements and innovation is also supporting market growth.

Europe is a prominent market for industrial valves, with countries such as Germany, the United Kingdom, and France leading the adoption of advanced valve solutions. The region's emphasis on sustainability and efficient industrial operations is driving the demand for innovative valve products.

The Asia-Pacific region is expected to witness significant growth in the market, owing to the rapid industrialisation, increasing demand for energy, and growing investments in infrastructure development. Countries such as China, India, and Japan are major contributors to the market growth in this region.

As per the industrial valves market analysis, the Latin American region is growing steadily, driven by the increasing demand for efficient flow control systems in industries such as oil and gas, water and wastewater, and power generation. The region's focus on improving industrial infrastructure is also supporting market growth.

Market Segmentation

The market can be divided based on material type, valve type, application, and region.

Market Breakup by Material Type

• Cast Iron
• Steel
• Alloy Based

Market Breakup by Value Type

• Ball Valves
• Butterfly Valves
• Gate Valves
• Globe Valves
• Check Valves
• Others

Market Breakup by Application

• Oil and Gas
• Water and Wastewater
• Chemical
• Food and Beverage
• Others

Market Breakup by Region

• North America
• Europe
• Middle East and Africa
• Asia Pacific
• Latin America

Competitive landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in industrial valves market. some of the major players explored in the report are as follows:

• Schlumberger Limited
• Emerson Electric Co.
• AVK Holding A/S
• The Weir Group plc
• Metso Corporation
• The Flowserve Corporation
• Crane Co.
• Avcon Controls Pvt. Ltd.
• Forbes Marshall Pvt. Ltd.
• IMI plc
• Others