- Ball Valves
- Check Valves
- Butterfly Valves
- Balancing Valve
- Gate Valves
- Globe Valves
Commercial Valves Market size was valued at USD 2,841.2 billion in 2021 and is expected to grow at a CAGR of 5.6% over 2022â€“2028. The pharmaceutical and healthcare sectors are leading the fight against COVID-19 due to the coronavirus's rapid proliferation. Manufacturing every important medical gadget needed to treat COVID patients has increased. Commercial valves are crucial in producing many medical devices, and several major businesses in the market have seized the chance to combat the deadly coronavirus pandemic. For instance, Emerson's valves can control pressure relief, maintain the cleanliness of the materials and equipment in sterilizers, oxygen treatment devices to aid high-risk patients or those recovering, and support blood analyzers and other essential hematology equipment. The oxygen supply for temporary and outlying hospitals and triage centers is also provided by the company's high-pressure and high-purity valves. Emerson also manufactures several tiny instrument-level valves for lab and medical equipment, and the business is now, for the first time, noticing an increase in demand from manufacturers of oxygen therapy devices. The development of advanced fluid handling systems by pharmaceutical industries, such as automatic sanitizers and liquid soap dispensers, also drives the demand for valves. As a result, the market is developing due to rising R&D spending in the pharmaceutical industry and increasing healthcare device production. Recent technological developments have enabled businesses to use cutting-edge tools like artificial intelligence (AI) and the Internet of Things (IIoT) technology to reduce unplanned downtime and other adverse situations caused by valve failures. These valve technologies enable professionals to check the functionality and state of industrial valves remotely. Industries are implementing sensor-equipped valves to minimize failure rates and overall maintenance costs due to increased industrialization. It is anticipated that adopting these cutting-edge values would strengthen the market. Moreover, new IoT solutions are being introduced by businesses to aid industries in remotely monitoring their assets. For instance, in January 2021, Flowserve Corporation, a significant supplier of flow control goods and services for the global infrastructure markets, unveiled a ground-breaking IoT service to assist manufacturing facilities in remotely monitoring their assets and significantly lowering equipment failures.
Fastest Growing Market
Governments worldwide are paying more to provide every family with necessities like gas and freshwater. To supply fresh water, new water treatment facilities are being developed. To deliver gas to both residential and non-residential structures, numerous new pipeline projects are created. Industrial valves are used more frequently to regulate gas flow throughout gas distribution systems. During the projected period, the market for industrial valves is expected to rise due to significant advances in the water sector and the construction of new gas distribution networks. However, the market's expansion may be hampered by a lack of uniform certifications, inconsistent government regulations, and downtime for repairs and maintenance.
The commercial valves market growing at a CAGR of 5.6% during 2022
Electric Co., The Weir Group PLC, Flowserve Corporation, Schlumberger Limite, Spirax-Sarco Engineering plc
North America is the fastest-growing region for commercial valves market