- Ball Valves
- Butterfly Valves
- Gate Valves
- Glove Valves
- Plug Valves
- Check Valves
- Diaphragm Valves
- Safety Valves
- Others
Industrial Valves Market size was valued at USD 72.3 billion in 2022 and expected to reach USD 94.62 billion by 2029, at a CAGR of 4.2% from 2023-2029. The market is surging at notable CAGR over the next seven years owing to surge in the number of end user industries such as oil and gas, power and energy, building and construction, pharmaceuticals, and chemicals across the globe. Moreover, market players are focus on the R&D activities for the development of technologically advanced products such as lightweight and smart valves, modernization and expansion of production capacity by end users, rapid urbanization coupled with government initiations for the smart city development, and increase in investments for the water and waste water projects are anticipated to propel the revenue of market over the forecast timeframe. However, volatility in raw material prices, decrease in oil and gas exploration, lack of standard regulations, and high cost of advanced products are hamper the growth of market. This report studies global industrial valves market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global industrial valves market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global industrial valves market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Industrial Valves Market Key Developments:
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Largest Market
Fastest Growing Market
Increase in the demand for industrial valves from end is user industries such as oil and gas, waste water treatment, and pharmaceutical industries is a major factor surge the revenue of market over the forecast years. In oil and gas exploration, the valves are used for wide range of applications such as steam condition, feed pump recirculation, turbine by pass, and others. In addition, industrial valves are widely used in water and waste water treatment due to rapid urbanization and surge in need for isolating the pumps and equipment for controlling the flow of drinking and waste water. In addition, digitalization in end user industries leads to adoption of smart valves also burgeon the market over the forecast timeframe.
The industrial valves market size was valued at USD 72.3 billion in 2022
The industrial valves market key players are: AVK Holding A/S Emerson Electric Company Weir Group Plc. Curtiss Wright Corp. IMI Plc. Flowserve Corporation Velan Inc. General Electric Company Honeywell International Inc. Pentair Ltd. Lagerstedt & Krantz AB Alfa Laval AB Circor International Ltd. SPX Corporation Watts Water Technologies, Inc. Parker Hannifin Corporation Nibco, Inc. Crane Co.
The industrial valves market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.