The steady expansion of the chemical industry and the revival of the oil and gas industry is also likely to play an important role in driving industrial valve sales globally. Furthermore, the FMI report indicates that there are abundant opportunities in the chemical and water and wastewater industries.
With the onset of Industry 4.0 and the reciprocal shift of industries towards automation, the industrial valve landscape is compelled to transcend outdated traditional valve engineering paradigms. Although manually operated valves still account for approximately 2/3research and development Of the total sales, FMI anticipates a rapid market advance scenario for automated valves in the next few years.
By type, the gate type of industrial valves segment is expected to hold prominent valuable shares in the global industrial valves market. Moreover, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, followed by globe and ball valves, were determined to remain the desired industrial valve types throughout the forecast period. However, a number of manufacturers are focusing on investing in industrial valves in the world. FMI’s research also highlights the clearly increasing market attractiveness of butterfly valves across industries.
Material-based industrial valve market analysis reveals that cast steel, carbon steel, and stainless steel remain the materials of choice among industrial valve manufacturers, which together account for approximately 85% of revenue. Bronze is likely to emerge as a preferred material over the coming years, as evidenced by the report’s findings.
Industrial Valves Market Outlook 2014-2021 Compared To Forecast 2022-2029The global industrial valves market is set to record a steady compound annual growth rate 4.2% Between 2022 and 2029 compared to 3.5% compound annual growth rate Registered from 2014 to 2021.
The increasing demand for industrial valves from various industries such as oil and gas, power plants, chemical, water treatment and wastewater are driving the global industrial valves market.
Industrial valves are mechanical devices that open, close, or partially block passages to regulate the flow of liquid, gas, and slurry within the system. They are widely used across many industries to regulate the flow of materials. They are designed to handle high pressure and temperatures while providing superior efficiency.
Rapid worldwide industrialization has increased the demand for industrial valves over the past few years. These industrial valves provide an easy and affordable way to control the flow of materials across major industries.
With the increase in the demand for fuel, various countries are launching new oil and gas exploration projects. This is expected to increase the demand for advanced valve technology. Similarly, several water treatment plants are launched to meet the increasing demand for fresh water. With this in mind, the industrial valves market will register high growth in the coming years.
Leading players focus on delivering green and digital products that enable experts to control and monitor the flow of materials from remote locations. This will help them increase their sales
Driven by the above factors, the industrial valves market is set to expand 1.3X Until 2029.
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The market in APEJ is expected to achieve profitable growthThe Asia Pacific Excluding Japan (APEJ) market is expected to show profitable growth potential in the global industrial valves market during the forecast period of 2019-2029. According to the report, this growth is being driven by the rapid growth of the oil and gas industry in APEJ countries such as India, China and ASEAN countries, among others. The economic situation of these countries is developing positively.
Moreover, due to the effects of macroeconomic factors such as population growth, urbanization and rapid industrialization, investor confidence and investments in housing and other residential projects across the APEJ have increased significantly. Thus, the chemical in the region has had a lot of momentum over the past few years. This overall scenario translates into modest growth in valve demand across multiple industries, ultimately driving the market growth potential of APEJ.
Industrial Valves Market: Vendor InsightsThe report highlights some of the prominent market players, who have proven themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.
The global industrial valves market has been significantly boosted with some players owning notable shares in the market. These operators offer industrial valves under their popular brands such as Cameron and World Valves, among others.
Industrial Valves Market By CategoryBy type of valve:
- threaded chain
- not lubricated
- double plate
- piston lift
- spring loaded disc
- Alternate choice
- tilt check
- p . style
- T . pattern
- safety relief
- spring download
- working pilot
- Other customized
According to the valve material:
- solid steel
- carbon steel
- Stainless Steel
- other alloys
By industry end use:
- oil and gas
- Water and sewage treatment
- Power plants
- paper pulp
- North America
- Latin america
- Eastern Europe
- Western Europe
- Middle East and Africa