Dubai, United Arab Emirates, January 19, 2022 (GLOBE NEWSWIRE) – Global Industrial valves market It is valued at approx 71.8 billion US dollars in 2022. With the increasing adoption of industrial valves to regulate the flow of materials, aggregate demand is expected to rise at a moderate compound annual growth rate of 4.3% Between 2022 and 2029, with a total valuation 96.2 billion US dollars by 2029.
|Estimated Industrial Valves Market Size in 2022||71.8 billion US dollars|
|Forecast size of industrial valves market in 2029||96.2 billion US dollars|
|Valves Market Historic Compound Annual Growth Rate (2014-2021)||3.5||%|
|CAGR Based On Valves Market Value (2022-2029)||4.2||%|
Rising from revenue of $61 billion recorded in 2021, the global industrial valves market is expected to witness modest growth by the end of 2022. A new market research report by Future Market Insights (FMI) indicates that the increasing exploration activities of will New water sources mostly help the market to grow over the coming years.
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.
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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4.0 and the reciprocal shift of industries towards automation, the industrial valve landscape is compelled to transcend outdated traditional valve engineering paradigms.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, which are closely tracked 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.
The market in APEJ is expected to achieve profitable growth
The 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.
Furthermore, 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 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.
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Industrial Valves Market: Vendor Insights
The 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.
|Historical data available for||2014-2021|
|market analysis||Units of volume and million dollars of value|
|Main areas covered||North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, the Middle East and Africa|
|Main countries covered||United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey, South Africa|
|Main parts covered||Valve type, valve material, end use industry, function and region|
|An overview of the main companies||
|Report coverage||Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives|
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About the Industrial Automation Department of Future Market Insights
The Industrial Automation and Equipment Division of FMI takes a fresh approach and innovative perspective in analyzing the global machinery and industrial automation market. FMI’s range of market research reports provide comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery used in the manufacturing sector. The team also conducts feature analysis on the installed base, consumables, replacement and USP feature application matrix, making us the preeminent voice of authority in the industry. We are the preferred partners of the established and emerging industry.
Explore FMI’s ongoing comprehensive coverage of industrial automation
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