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A Detailed Analysis of the Industrial Valves Market Based on Technological Evolution Driving Efficiency and Performance Across Diverse Industrial Sectors
The global industrial valves market is forecast to expand at a CAGR of 5.1% and thereby increase from a value of US$71.2 Bn in 2023, to US$100.9 Bn by the end of 2030.
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Attributes |
Key Insights |
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Industrial Valves Market Size (2023E) |
US$71.2 Bn |
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Projected Market Value (2030F) |
US$100.9 Bn |
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Global Market Growth Rate (CAGR 2023 to 2030) |
5.1% CAGR |
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Historical Market Growth Rate (CAGR 2018 to 2022) |
4.3% CAGR |
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Industrial valves are critical elements utilized in a multitude of manufacturing procedures as they regulate the pipeline passage of liquids, gases, or slurries. By controlling the fluid's velocity, direction, and pressure, these apparatuses guarantee the safe and effective functioning of various sectors, including power generation, water treatment, oil and gas, and chemical processing. There are various categories of industrial valves, such as globe valves, ball valves, butterfly valves, and gate valves, each of which is intended for a particular purpose.
The pivotal function they perform in overseeing the movement of fluids and enabling the regulation of processes highlights their importance in upholding the safety and operational integrity of industrial environments. In a dynamic market, industrial valves are in high demand due to the expanding need for streamlined fluid management in various industries. As a result of technological advancements and an increasing focus on automation, there is currently a notable upswing in the market for smart valve solutions.
In conjunction with an increasing emphasis on sustainability and stricter regulations, this development is reshaping the industrial valve industry, and promoting growth and innovation. The evolution of the market is indicative of an ongoing pursuit for improved operational efficiency, dependability, and ecological consciousness in industrial operations.
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Get a Customized VersionTechnological Advancements, and Smart Valve Solutions
The market for industrial valves is substantially impacted by the swift progression of technology and the incorporation of intelligent valve solutions. The adoption of digitalization and automation across various industries has generated an increasing need for valves that incorporate cutting-edge technologies, including sensors, actuators, and Internet of Things (IoT) devices. Intelligent valves facilitate remote control, real-time monitoring, and data analytics, thereby augmenting overall operational efficacy.
By facilitating predictive maintenance, these technological advancements decrease downtime and operational expenses. As a result of their capability to identify anomalies, optimize processes, and provide valuable insights into system performance, intelligent valves are significant market drivers in the industrial valves sector. Organizations that allocate resources towards research and development to develop intelligent and interconnected valve solutions are well positioned to exploit this development and attain a competitive advantage in the ever-changing industrial environment.
Additionally, a critical factor influencing the market for industrial valves is the increased focus on environmental sustainability. In response to regulatory frameworks and a worldwide trend toward environmentally favorable practices, industries are actively searching for valves that can aid in the reduction of energy consumption and environmental impact. To address these concerns, manufacturers are currently producing valves that place a premium on energy efficiency, reduce emissions, and adhere to rigorous environmental regulations.
The emphasis on sustainability is consistent with more extensive corporate responsibility endeavors and appeals to sectors seeking to reduce their ecological impact. To strike a balance between environmental stewardship and economic expansion, businesses continue to increase the demand for environmentally conscious industrial valves, which drives market innovation in materials, design, and manufacturing processes.
Challenges in Global Supply Chains and Raw Material Costs
The industrial valves market is confronted with substantial limitations due to complexities in worldwide supply chains and rising expenses for raw materials. Geopolitical uncertainties and disruptions, including the ongoing COVID-19 pandemic, further complicate international supply networks, which presents valve manufacturers with formidable logistical challenges. Supply chain disruptions may result in protracted lead times, which may have adverse effects on project schedules and impose financial burdens.
Furthermore, the unstable nature of raw material costs, specifically metals like steel and aluminum that are frequently employed in the fabrication of valves, imposes a constraint on manufacturers' profit margins. Material cost fluctuations have the potential to disrupt pricing stability and impact the overall competitiveness of industrial valves in the market. As a result, industry participants are compelled to implement risk mitigation strategies and engage in strategic planning.
Complex Regulatory Compliance, and Certification Requirements
The market for industrial valves encounters a significant obstacle in the form of intricate certification and regulatory compliance demands. In an era of ever-changing environmental regulations and safety standards, manufacturers are confronted with the imperative to comply with rigorous certifications and standards. Frequently, rigorous testing procedures, documentation, and ongoing monitoring are required to guarantee compliance with these standards.
The intricacy is heightened by the variety of regulations that exist across sectors and regions; consequently, valve manufacturers are compelled to allocate substantial resources toward comprehending and adjusting to divergent standards. Successfully managing this complex regulatory environment presents a significant obstacle for businesses seeking to operate seamlessly across multiple markets, as failure to comply may result in legal consequences, exclusion from the market, and product launch delays.
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Growing Significance for Water and Wastewater Treatment Infrastructure
The expanding worldwide attention toward water and wastewater treatment infrastructure creates a substantial opportunity for the industrial valves market. In response to the increasing global awareness of water scarcity and environmental issues, governments and industries are making substantial investments in state-of-the-art water treatment facilities.
The increased pace of infrastructure development generates a significant need for industrial valves, which are employed in various processes including effluent treatment, water purification, and desalination. This opportunity can be exploited by valve manufacturers through the provision of specialized solutions that are customized to meet the specific needs of water treatment facilities. Furthermore, by the water management industry's overarching digitalization trend, the implementation of intelligent valves equipped with sophisticated control capabilities can improve the efficacy of these procedures.
Further, the rapid transition towards renewable energy sources offers the industrial valves market a highly profitable opportunity. Amidst global efforts to mitigate carbon emissions and shift towards more sustainable energy sources, renewable energy initiatives including solar, wind, and geothermal power are gaining prominence. These applications rely heavily on industrial valves, which regulate fluid fluxes at numerous stages of energy production.
Manufacturers of valves can capitalize on this opportunity by creating valves that are tailored to the specific requirements of renewable energy installations. By prioritizing efficiency, durability, and adaptability to various renewable energy configurations, advancements in valve technology have the potential to set businesses apart in this rapidly growing sector, thereby making a positive contribution to the environment and energy landscape.
Analysts forecast a positive trajectory for the industrial valves market, foreseeing consistent expansion propelled by several pivotal factors. It is anticipated that the continuous worldwide focus on industrial automation and the integration of intelligent technologies will stimulate innovation in the industrial valve industry. The incorporation of remote monitoring functionalities, data analytics, and Internet of Things (IoT) capabilities into industrial valves will promote operational efficiency and facilitate the implementation of predictive maintenance strategies.
Moreover, as industries place a greater emphasis on sustainability, the demand for energy-efficient and environmentally favorable valve solutions increases. In conjunction with the continuous modernization of water and wastewater treatment facilities, the expansion of renewable energy initiatives offers substantial prospects for market expansion.
However, it is expected that there will be obstacles in the form of supply chain disruptions, volatile raw material prices, and intricate regulatory environments. Notwithstanding these obstacles, the industrial valves market maintains a positive trajectory, wherein the future of the sector is shaped by a concentration on technology-driven solutions and environmentally conscious practices.
Supply-side Dynamics
The industrial valves market's supply-side dynamics are defined by a confluence of elements that impact the manufacturing, distribution, and accessibility of valves to satisfy the requirements of various sectors. The manufacturing sector is of utmost importance, as suppliers prioritize production technology advancements to optimize operations, minimize expenses, and increase efficiency.
Ongoing research and development endeavors play a significant role in shaping the design, materials, and functionality of valves. Suppliers are progressively incorporating intelligent technologies into their merchandise, presenting valves that possess sophisticated functionalities such as the ability to be monitored remotely, analyse data in real-time, and perform predictive maintenance.
The adoption of intelligent valves not only satisfies the demands of the industry for improved automation and control but also stimulates supply-side innovation. Moreover, the complexities of the supply chain have a substantial effect on the market. In the light of the worldwide scope of the industrial valve sector, suppliers are required to adeptly maneuver intricate supply chains. Difficulties such as trade restrictions, geopolitical unpredictability, and disruptions, as exemplified by the COVID-19 pandemic, may impact the procurement of raw materials and components expediently.
For valve production, suppliers are required to implement agile supply chain strategies that prioritize flexibility and resilience to mitigate risks and guarantee a consistent flow of materials. In general, the interplay between technological advancements, manufacturing capabilities, and the capacity to navigate intricate global supply chains to satisfy the ever-changing demands of industries around the world influences the supply-side dynamics of the industrial valve market.
Which Valve Type Category is at the Top Spot in Global Market?
Ball Valves Lead Global Industrial Valves Space with a Versatile Application Range
The valve type segment is segmented into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, diaphragm valves, and misc. Within the industrial valves market, ball valves constitute the most sizable segment among the diverse array of valve varieties. Their prevailing position can be attributed to their multifaceted utility, which provides dependable control and shut-off in various sectors including water treatment, chemical processing, and oil and gas.
The efficiency, longevity, and ease of assembly of ball valves all contribute to their extensive utilization. Conversely, check valves emerge as the most rapidly expanding sector, propelled by their indispensable function of averting backflow in pipelines. The escalating focus on ensuring the safety of fluid systems, in conjunction with their adaptable nature and minimal upkeep needs, drives the substantial expansion of check valves in the market for industrial valves.
Whis the Top Performing Material Type Segment?
Steel Remains Most Preferred, Alloy-based Materials Expand Rapidly
The material type segment is bifurcated into cast iron, steel, alloy based, bronze, and misc. By material type, steel emerges as the largest segment of the industrial valve market. Steel is widely utilized in various industrial sectors due to its remarkable strength, durability, and resistance to corrosion, which contribute to its widespread application. Steel's robust properties are a significant factor in its extensive utilization in challenging environments, including the oil and gas sector, where durability and dependability are critical.
On the contrary, the alloy-based segment is the most rapidly expanding category, driven by the rising need for specialized valves that exhibit improved resistance to corrosion and exceptional performance. The exponential expansion of alloy-based industrial valves is propelled by industries in search of valves that are customized to run in corrosive or high-temperature environments, among others.
Which End-use Industry is at the Forefront of Adoption?
Oil and Gas Sector Dominates Adoption Scenario, Water and Wastewater Treatment Sector Set to Rise High
The segment is sub-categorized into oil and gas, chemicals, water and wastewater treatment, power generation, pharmaceuticals, food and beverages, HVAC, automotive, mining, and misc. By end-use industry, the oil and gas sector represents the largest industry within the industrial valves market. The widespread implementation of valves in upstream, midstream, and downstream operations fuels this dominance. The robust demand in this sector can be attributed to the critical role that valves play in regulating flow, pressure, and safety in oil and gas operations.
Conversely, the water and wastewater treatment sector exhibits the most rapid expansion, propelled by escalating international endeavors to ensure access to potable water. Increasing environmental regulations and apprehensions regarding water scarcity drive the demand for industrial valves in water treatment processes, with an emphasis on dependability, efficiency, and compliance.
Dominance of North America Intact on Account of Robust Industrialization
North America emerges as the largest region in the industrial valves market, primarily due to robust industrialization across the US. A significant presence of critical end-use industries, including oil and gas, chemicals, and power generation, contributes to the region's dominance. Consistent technological progress and rigorous regulatory requirements contribute to the robust demand for industrial valves in North America. Moreover, the market expands further due to the region's dedication to infrastructure development, which underscores the pivotal significance of valves in a multitude of applications.
Rapid Expansion Pace Poised in South Asia, and Oceania
South Asia, and Oceania are the fastest-growing regions in the industrial valves market, with infrastructure initiatives, urbanization, and industrialization propelling their growth. Demand for industrial valves is propelled by a combination of expanding investments in sectors including water treatment, power generation, and manufacturing, and an increasing focus on sustainable practices. The dynamic development of the region is facilitated by the expanding economies of countries such as Australia, and India, which position it as a crucial market for industrial valve manufacturers seeking to exploit emerging prospects.
Sector leaders in the industrial valves industry engage in fierce competition to secure a portion of the market. Prominent entities in the industry are employing various tactics, including collaborations, partnerships, and mergers and acquisitions, to expand their global presence and fortify their product portfolios. In addition, ongoing investments in research and development are crucial for maintaining a competitive edge in the market through the introduction of novel valve solutions that address the ever-changing demands of the industry.
The competitive landscape has been impacted by the trend toward environmentally sustainable practices, as firms prioritize the development of valves that not only comply with rigorous environmental criteria but also enhance energy efficiency. Moreover, there is a growing trend among market participants to incorporate digital technologies into their products to offer intelligent valve solutions. These solutions, which are furnished with capabilities for data analytics and IoT connectivity, optimize operational processes and enable proactive maintenance.
Additionally, the competitive environment is shaped by the existence of regional and local entities that target distinct market segments. Due to the increasing demand for industrial valves in various sectors including water treatment, power generation, oil and gas, and water and gas, competition intensifies. As a result, businesses must distinguish themselves in this dynamic and ever-changing market through technological innovation, quality, and strategic partnerships.
Partnership
In July 2023, saw the joint announcement of BDK Valve Private Ltd., an industrial valve manufacturer, and Gurukrupa Group, a western India-based real estate developer, regarding their successful acquisition of a 100% stake in Theis Precision Steel India Pvt. (Theis Precision) Ltd. This is the second acquisition of an international firm by the promoter group.
Market Impact: The procurement of investments in Theis Precision Steel India Pvt. The establishment of Gurukrupa Group and BDK Valve Private Ltd. Ltd. exemplifies a strategic expansion trend in the industrial valves industry. These types of acquisitions have the potential to bolster product portfolios, advance technological capabilities, and shape the competitive environment of the sector.
(Source: Press releases by livemint.com)
In June 2023, Continental, a tier 1 supplier from Germany, and Nisshinbo Holdings, its joint venture partner, commenced construction on a new manufacturing facility in Gurugram. It states that this is consistent with the "in the market, for the market" strategy. Early last year, it was announced that Continental would retain a 40 percent stake in the JV, while Nisshinbo would hold a 60 percent stake. In India, valve blocks for Continental's Electronic Brake Systems (EBS) will be manufactured at the new JV facility.
Market Impact: Continental, in partnership with Nisshinbo Holdings, has implemented a strategic maneuver to establish a manufacturing facility in Gurugram dedicated to valve blocks for Electronic Brake Systems (EBS) within India. This exemplifies an emerging pattern among multinational corporations to establish manufacturing facilities in critical markets, which may have an effect on the industrial valve sector through the promotion of regional production and supply chain efficiencies.
(Source: Press Release from The Indian Express [P] Ltd)
Acquisition
John King Group acquired valve manufacturer DAB Valves for an undisclosed sum in May 2023. DAB Valves offers an extensive selection of valves and related apparatus for sale in their catalog, including gravity flap diverter valves, drop-out boxes, and slide and butterfly valves. The 40-year-old business is headquartered in Derbyshire, close to Parwich.
Market Impact: John King Group's procurement of DAB Valves signifies an ongoing process of market consolidation within the industrial valves industry. This strategic decision has the potential to expand John King Group's range of products, thereby bolstering the company's market standing and competitive edge in the industry.
(Source: Press Release from Pro Global Media Ltd.)
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Details |
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Forecast Period |
2023 to 2030 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
By Valve Type:
By Material Type:
By End-use Industry:
By Region:
The market is anticipated to grow at a CAGR of 5.1% during the projected period.
As of the end of 2023, the industrial valves market was valued at US$71.2 billion.
In 2023, the US held the largest market revenue share.
Some of the prominent players in the market are Emerson Electric Co., Flowserve Corporation, Cameron International Corporation, Crane Co., IMI plc, Kitz Corporation, and KSB Group.
The alloy-based segment is expected to grow at the fastest pace during the forecast period.
