The industrial valve market is garnering substantial traction. The market growth attributes to the increasing usages of industrial valves in burgeoning industries, such as oil & gas, energy & power, construction, and chemicals. Besides, the rise in demand for maintenance operations in refineries substantiates the market growth. Moreover, increasing usages of industrial valves in the O&G and energy industry escalates the market growth, creating a vast demand.

According to Market Research Future (MRFR), Industrial Valve Market size was valued at USD 71834.5 Million in 2023. The industrial valve industry is projected to grow from USD 75210.72 Million in 2024 to USD 108385.7 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.67% during the forecast period (2024 - 2032). In its industrial valves market research, MRFR also states that in 2017 the market was valued at USD 70.53 billion. The industrial valve market continues to demand better service and value. To meet this demand, industry players form strategic partnerships with suppliers.

Additionally, increasing investments in the development of these valves, alongside the upscale of nuclear power plants, boost the market size. Furthermore, ongoing industrialization in developing countries such as India and continued advancement to increase output in manufacturing units influence market growth. Conversely, fluctuating prices, and the demand-supply gap in raw materials required for production are the major factors estimated to impede market growth.

Market Dynamics:

One of the key dynamics shaping the industrial valve market is the rising investments in infrastructure development and industrial projects worldwide. Infrastructure projects such as oil and gas pipelines, water distribution networks, power plants, refineries, and chemical processing facilities require a wide range of valves for fluid control and regulation. As governments and private sector entities invest in modernizing and expanding infrastructure assets, the demand for industrial valves is expected to increase, driving market growth across diverse end-user industries.

Industrial Valve Market – Segmentation

The market is segmented into five dynamics.

By Valve Type     : Ball, Butterfly, Check, Gate, Globe, Plug, and others.

By Material          : Stainless Steel, Cast Iron, Alloy Based, Cryogenic, and others.

By End-Use           : Oil & Gas, Energy & Power, Chemicals, Construction, and others.

By Size                   : 1”, 1" to 25", 25" to 50", and 50" and above.

By Regions           : Americas, Europe, APAC, and Rest-of-the-World.

Industrial Valve Market – Geographical Analysis

The Asia Pacific region accounts for the leading share in the global industrial valve market. The largest market share attributes to ongoing infrastructure developments and the rapid pace of industrialization. Besides, growing investments in end-use industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction drive the regional market growth.

Furthermore, the regulatory and industrial reforms boost market growth, making it more attractive for private investors and plans to foster public-private partnerships. Also, the increasing focus on generating power and renewable energy sources push the growth of the regional market. The APAC industrial valve market is poised to retain its dominance throughout the forecast period.

North America stands second in the global industrial valve market. The market is driven by the rising usages of industrial valves across the industry verticals. Additionally, the spurting growth in wind, bioenergy, and hydropower energy propel the regional market growth. The US dominates the regional market, contributing to total renewable energy generation capacity. The North American industrial valve market is estimated to grow at a significant rate during the forecast period.

The Europe industrial valve market is growing rapidly. Factors such as the increasing focus on increasing energy generation infrastructure and the growing economy influence the regional market growth. Moreover, the growing usages of industrial valves in quadrupling numbers of oil & gas, energy & power infrastructures foster the development of the regional market. The European valve market is projected to create a substantial revenue pocket during the forecast period.

Global Industrial Valve Market – Competitive Analysis

Highly competitive, the global industrial valve market appears fragmented due to the presence of several well-established players. Industry players incorporate strategies, such as mergers & acquisitions, collaborations, expansion, and product or technology launch. 

Industrial valves manufacturers invest in R & D to develop a technology, brand building and expand their reach to support their competitive position. Managing the cost of raw materials is a top priority for manufacturers. To counter this challenge, firms seek new ways to mitigate risks associated with raw materials instability.

Key Companies in the Industrial Valve Market include

Emerson Electric Co
SLB
IMI PLC
Flowserve Corporation
Trillium Flow Technologies
Crane Company
Walworth
AVK Holding A/S
Kitz Corporation
ARFLU SA 

Industry/ Innovation /Related News: 

In November 2023, Emerson launched the new ASCOTM Series 327C solenoid valve which boasts a greater flow-to-power ratio over comparable valves thanks to its direct-acting, high-flow design. The Series 327C design is perfect for usage in power plants, refineries, and chemical processing facilities because of its balanced poppet construction, which allows for high flows at low power levels.

In March 2023, SLB and Newmans Valve collaborated in North and South America to improve consumer access to NEWCO globe, gate, and check valves. With an emphasis on providing these valves for projects and maintenance, repair, and operations (MRO) in a reasonable manner, Newmans will oversee the marketing, quoting, customer support, and order fulfilment for NEWCO valves. Western Hemisphere clients will profit from Newmans Valve's dedicated stocking inventory and laser-like attention to the NEWCO valve market.

In February 2022, Schlumberger announced the opening of its newest manufacturing facility at King Salman Energy Park (SPARK), contributing to the economic growth initiative of Saudi Aramco's at-Kingdom Total Value Add (IKTVA) program. The facility, which will serve Schlumberger's midstream and downstream markets in the Kingdom and its surrounding nations, is the first of its sort in Saudi Arabia. The facility will produce Cameron isolation valve technology, such as ORBIT rising stem ball valves and GROVE valves, to aid in enhancing the effectiveness of the area's oil and gas activities.

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