Hybrid Valve Market Report 2024

The hybrid valve market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased automation in industries, heightened environmental awareness, increased demand from water treatment plants, the rise of smart city initiatives, and greater investments in renewable energy.

The hybrid valve market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period is expected to be driven by the rising use of hybrid valves in the oil and gas industry, increased oil production, the growing need for wireless and remote infrastructure, the rising demand for power production, and the expanding number of petrochemical refineries and chemical plants. Major trends anticipated during the forecast period include technological advancements, digital technologies, the integration of mechanical and electronic components, the adoption of IoT-enabled valves, and the adoption of wireless technologies.

The growing oil production is anticipated to drive the expansion of the hybrid valve market in the future. Oil production involves extracting crude oil from underground reservoirs or oil fields, which requires drilling wells and utilizing various techniques to bring the oil to the surface. The increase in oil production can be attributed to advancements in drilling technology, higher oil prices encouraging exploration and extraction, and geopolitical factors affecting production decisions by oil-producing nations. Hybrid valves enhance oil production by improving flow control and reliability in oil wells, reducing downtime, and optimizing reservoir management through integrated technology and adaptive functionality. For instance, in June 2024, the Energy Information Administration, a US-based government agency, projected that U.S. crude oil production would rise by 2% from 13.2 million barrels per day in 2024 to 13.7 million barrels per day in 2025. Thus, the increase in oil production is fueling the growth of the hybrid valve market.

Leading companies in the hybrid valves market are focusing on developing innovative products, such as valves for hydrogen fueling stations, to minimize potential leakage points. These new valves are specifically designed to meet the unique challenges and requirements of handling hydrogen gas. For example, in July 2022, Emerson Electric Co., a US-based manufacturer of control systems, launched the Tescom Anderson Greenwood Instrumentation H2 Valve Series for hydrogen applications. These valves are made from advanced materials that resist hydrogen embrittlement and corrosion, ensuring long-term durability and reliable performance. They incorporate advanced sealing technologies to prevent leaks effectively, addressing hydrogen's high diffusivity and small molecular size. The design prioritizes maintenance safety, with features that enable easy inspection and servicing, thereby reducing the risk of accidents during maintenance procedures.

In May 2023, Blackstone Inc., a US-based investment management company, acquired a majority stake in Copeland, previously known as Emerson Climate Technologies, for $14 billion. With this acquisition, Blackstone aims to strengthen its position in the heating, ventilation, and air conditioning (HVAC) sector by leveraging Copeland's established market presence and technological expertise in climate control systems. Copeland Corporation LLC, a US-based company, manufactures hybrid valves.

Major companies operating in the hybrid valve market are Baker Hughes Company, Parker-Hannifin Corporation, Emerson Electric Co., Cameron International Corporation, Pentair plc, Flowserve Corporation, The Weir Group PLC, Curtiss-Wright Corporation, IMI plc, Rotork plc, L&T Valves Limited, Trillium Flow Technologies, Bray International Inc., Chemtrols Industries Pvt. Ltd., Master Flo Valve Inc., Val-Matic Valve & Manufacturing Corporation, Habonim Industrial Valves and Actuators, Koso Kent Introl Pvt. Ltd., BLACOH Fluid Controls Inc., Parcol SpA, Phoenix Pumps Inc., Mascot Dynamics Pvt. Ltd.

North America was the largest region in the hybrid valve market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hybrid valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hybrid valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A hybrid valve is designed to combine features from two or more different valve types to achieve specific performance characteristics. By merging the advantages of multiple valve designs, these valves address the limitations of individual valve types.

The primary types of hybrid valves include steel, tungsten carbide, alloy, titanium, and duplex nickel. Steel hybrid valves, for instance, have key components such as the valve body and trim primarily made from steel alloys. This construction provides robustness and durability, making them suitable for various industrial applications. These valves are renowned for their strength and resistance to corrosion, ensuring reliability in harsh environments. They come in various sizes, such as 1 to 6, 25 to 50, 50 and larger, 6 to 25, and up to 1, and are used by various industries, including oil and gas, wastewater management, chemicals, food and beverage, and others.

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

The hybrid valve market consists of sales safety valves, high-performance valve solutions, modular valve systems, environmental and energy-efficient valve solutions, and control valves with innovative designs. 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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