According to IMARC Group’s latest report, titled “Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global industrial valves market size reached US$ 64.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 97.19 Billion by 2027, exhibiting a CAGR of 7.3% during 2022-2027.
Industrial valves are electromechanical devices that close, open, or partially obstruct passageways to regulate the flow of gas or liquid within a system. It comprises sealing rings, end connectors, body, steam packing, discs, trim, bonnet shell, operators and actuators, yoke nut, and union bolts. Some of the commonly available valves in the market include gate, ball, globe, butterfly, pressure, check, and diaphragm valves. Industrial valves help stop the flow rate through the pipe whenever required and protect equipment from overpressure hazards. As a result, they are extensively used across the refinery, pharmaceutical, chemical, oil and gas, and water and wastewater treatment sectors.
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Market Trends and Drivers:
Rapid industrialization and significant expansion in petroleum refineries and nuclear power plants are some of the factors primarily bolstering the industrial valves market growth. Moreover, the rising pipeline installations and the surging demand for monitoring and controlling them from a centralized location are boosting the market growth. Moreover, the large-scale integration of smart control systems with industrial valves, rapid automation in the industrial processes, and the rising adoption of diagnostics in the system are creating a positive outlook for the market. Apart from this, the growing demand for monitoring municipal wastewater flow and the increasing unconventional oil and gas activities across downstream segments are providing an impetus to market growth.
Industrial Valves Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the industrial valves market 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.
Key Market Segmentation:
The report has segmented the global industrial valves market bsed on product type, functionality, material, size, end use industry and region.
Breakup by Product Type:
- Gate Valve
- Globe Valve
- Butterfly Valve
- Ball Valve
- Check Valve
- Plug Valve
- Others
Breakup by Functionality:
- On-Off / Isolation Valves
- Control Valves
Breakup by Material:
- Steel
- Cast Iron
- Alloy Based
- Others
Breakup by Size:
- Up To 1”
- 1”-6”
- 7”-25”
- 26”-50”
- 51” and Above
Breakup by End Use Industry:
- Oil and Gas
- Power
- Pharmaceutical
- Water and Wastewater Treatment
- Chemical
- Food and Beverage
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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.
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