IMARC Group, a leading market research company, has recently released a report titled “Industrial Valves Market Report by Product Type (Gate Valve, Globe Valve, Butterfly Valve, Ball Valve, Check Valve, Plug Valve, and Others), Functionality (On-Off/Isolation Valves, Control Valves), Material (Steel, Cast Iron, Alloy Based, and Others), Size (Upto 1”, 1”-6”, 7”-25”, 26”-50”, 51” and Above), End Use Industry (Oil and Gas, Power, Pharmaceutical, Water and Wastewater Treatment, Chemical, Food and Beverage, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global industrial valves market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global industrial valves market size reached US$ 73.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 128.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
Global Industrial Valves Market Trends:
With industries seeking to enhance efficiency, reduce operational costs, and minimize human error, there is a surging demand for advanced valve solutions capable of integrating seamlessly into automated systems, which is contributing to the market growth. Besides this, the global emphasis on infrastructure development and urbanization spurring the demand for valves in water supply networks, HVAC systems, and building automation are fostering market expansion.
Furthermore, the increasing adoption of renewable energy sources such as solar and wind power is boosting the need for valves in renewable energy infrastructure, including solar thermal power plants and wind turbine systems, thereby propelling the market forward.
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Factors Affecting the Growth of the Industrial Valves Industry:
· Ongoing technological advancements:
As industries evolve and demand more efficient and reliable valve solutions, manufacturers are constantly innovating to meet these needs. One significant advancement is the integration of smart technologies into industrial valves. Smart valves equipped with sensors, actuators, and control systems offer real-time monitoring and remote operation capabilities. These advancements enhance operational efficiency, reduce downtime, and improve overall performance.
Additionally, the use of advanced materials and manufacturing techniques has led to the development of valves with enhanced durability, corrosion resistance, and lifespan, strengthening the market growth.
· Increasing demand from end-use industries:
The demand for industrial valves is primarily influenced by the growth of various end-use industries such as oil and gas, water and wastewater treatment, power generation, chemical processing, and pharmaceuticals, among others. Growth in these industries drives the demand for valves used in various applications, including flow regulation, pressure control, and fluid isolation. The expansion of oil and gas exploration and production activities worldwide is creating a robust demand for valves used in upstream, midstream, and downstream operations. Besides this, the growing emphasis on environmental sustainability drives investments in water and wastewater treatment infrastructure, boosting the demand for valves used in these facilities. As industrial activities continue to expand globally, the demand for industrial valves is rising, driving market growth.
· Stringent regulatory standards:
Regulatory standards and compliance requirements imposed by governments and international organizations significantly influence the industrial valve market. These standards often dictate the design, materials, and performance criteria for valves used in specific applications to ensure safety, environmental protection, and product reliability.
Moreover, regulatory initiatives aimed at improving energy efficiency and reducing emissions drive the adoption of advanced valve technologies designed to minimize leakage, optimize flow control, and enhance operational efficiency. As governments worldwide tighten regulations to address environmental concerns and ensure industrial safety, the demand for compliant valves is growing, aiding in market expansion.
Industrial Valves Market Report Segmentation:
By Product Type:
· Gate Valve
· Globe Valve
· Butterfly Valve
· Ball Valve
· Check Valve
· Plug Valve
· Others
Ball valves represent the largest segment, as they are widely preferred for their versatility, durability, and efficient flow control across various industries.
By Functionality:
· On-Off/Isolation Valves
· Control Valves
On-off/isolation valves dominate the market as they are essential for controlling the flow of fluids in industrial processes, ensuring safety and operational efficiency.
By Material:
· Steel
· Cast Iron
· Alloy Based
· Others
Steel accounts for the majority of the market share owing to its strength, corrosion resistance, and suitability for diverse industrial applications.
By Size:
· Upto 1”
· 1”-6”
· 7”-25”
· 26”-50”
· 51” and Above
1"-6" leads the market by size as they are widely used in industrial processes due to their versatility, compatibility, and cost-effectiveness.
By End Use Industry:
· Oil and Gas
· Power
· Pharmaceutical
· Water and Wastewater Treatment
· Chemical
· Food and Beverage
· Others
The oil and gas industry represents the biggest end use industry due to its demand for a wide range of valves for exploration, production, refining, and distribution activities.
Regional Insights:
· North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
Asia Pacific leads the market, with rapid industrialization, infrastructure development, and expanding manufacturing sectors in the region.
Competitive Landscape with Key Players:
The competitive landscape of the industrial valves market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· AVK Holding A/S
· Cameron International Corporation (Schlumberger)
· The Crane Company
· Emerson Electric Co.
· Flowserve Corporation
· Forbes Marshall
· IMI Plc
· Kitz Corporation
· Neway Valves (Suzhou) Co. Ltd.
· Samson AG
· Velan Inc.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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