ID: MRFR/SEM/6067-HCR | February 2021 | Region: Global | 100 pages
The global industrial valve market was marked at USD 70.53 billion in 2020, and it is expected to grow at a higher CAGR of 6.1% in the global market during the forecasted period to account for a higher market share value of approximately USD 95.13 billion by the end of the forecasted 2020-2030.
For providing regulations and directions along with control of vapors, liquids, slurries, gases, and others in process industries, industrial valves are used. As these are generally manufactured using stainless steel, cast iron, carbon steel, and other metal alloys. It ensures efficient and smooth flow control in various industries like chemicals, foods and beverages, oil and power, water and wastewater, and many others. The market for industrial valves has been increasing at a significant rate all across the globe.
COVID 19 Analysis of Industrial Valve Market
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. During the lockdown situation, operational activities of various end-user industries were halted which resulted in a demand shrink for the industrial valve market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the industrial valve robotics market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Industrial Valve Market Dynamics
Numerous factors drive the market demand. A rapid increase in industrialization in various emerging countries like India, China, Nee Zealand, South Korea drives the market demand in the global market during the forecasted period. Moreover increasing advancement in technology to increase the output in various manufacturing industries creates more demand for different types of valves all across the globe during the review period.
The rise in demand for industrial valves in the global market. The increasing use of different types of valves in pharmaceutical industries and the energy and power industry creates more growth opportunities in the global market during the forecasted period. Moreover, increasing research in this sector also generates more growth opportunities during the review period.
Though the industrial valve market is increasing tremendously in the global market, some factors restrict its growth. Lack of standardization in these valves industries hampers the market growth. Moreover, various regulations and policies levied by governments of various nations regarding the use of valves also restrict the market growth. Moreover, the high cost involved in its maintenance is another factor that hampers the market growth in the global market.
Value Chain Analysis
The industrial valve market is increasing at an incredible rate globally due to various benefits associated with it. The use of these different types of valves results in the smooth flow of fluids as they have the lowest flow resistance. These are also energy efficient and allows their user a dual flow direction facility. Moreover, these valves are less prone to erosion and can work for a longer period.
Industrial Valve Market Segmentation
The industrial valve market has been segregated all across the globe based on the type, material, size, and end-user verticals.
Based on the Type
The market has been divided all across the globe based on the type into plug valves, globe valves, gate valves, pinch valves, check valves, butterfly valves, and ball valves. The largest market share in the type dividend is held by the plug valves owing to increasing demand in chemical companies in mainly the European region and Asia-Pacific region.
Based on the Material
The market has been divided all across the globe based on material into cryogenic material, alloy-based material, brass material, cast iron material, stainless steel material, and many others. The largest market share in the material dividend is held by the cryogenic material owing to increasing demand for the valves made from this material in the chemical and oil and gas industries.
Based on the Size
The market has been divided all across the globe based on the size into 25” to 50”, 1” to 25”, less than 1”, 50” and above 50”.
Based on the End-User Verticals
The market has been divided all across the globe based on the end-user verticals into the construction industry, pulp & paper industry, water & wastewater treatment industry, food & beverages industries, chemical industries, energy & power industries, oil & gas industries, and others. The largest market share in the end-user vertical dividend is held by the oil & gas industry owing to increasing investment in this industry by the Middle East and African region.
Industrial Valve Market Regional Analysis
The industrial valve market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the industrial valves market all across the globe is held by the Asia-Pacific region as this region has the largest market share in 2017. Moreover, increasing industrialization coupled with growing investment in various end-user verticals in which these valves are used drives the market demand to this region.
The second-largest market share in the industrial valve market is held by the Middle East and African region as this region is the oil-producing region and it is anticipated that the oil and gas industry will grow rapidly in the global market and its production will increase many folds during the forecasted period.
The third-largest market share in the industrial valve market is held by the North American region owing to the presence of the most prominent major key players that drives the market demand to this region. Moreover increasing the use of industrial valves in various end-user industries also drives the market demand.
The European region also shows a positive growth rate in the industrial valve market owing to the presence of well-established technologically advanced infrastructure. However, the least market share is held by the Latin American region owing to low per capita disposable income and low infrastructure.
The most prominent major key players in the industrial valve market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the industrial valve market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the industrial valve all across the globe.
This global industrial valve market research report comprises the following elements mentioned below:
This market research report contains factors that drive the growth of the industrial valve market in the global market along with the factors that restrict its growth in the global market. The opportunities available for the growth in the Industrial valve market during the forecasted period are mentioned. The impact of COVID 19 on the industrial valve market all across the globe is mentioned. The future growth rate in the industrial valve market during the forecasted period is estimated and mentioned.
Investors, distributors, safety equipment manufacturers, associations of valve manufacturers, research institutes, and organizations, process industry standard organizations, end users from the listed industries, professional service/solution providers, manufacturers of components, industrial valves manufacturers, and many others.
|Market Size||USD 95.13 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Emerson (US), Schlumberger Limited (US), IMI PLC (US), Flowserve Corporation (US), Weir Group (UK), Crane Co. (US), AVK Holding A/S (Denmark), Kitz Corporation (Japan), Neway Valve (Suzhou) Co., Ltd (China), Conbraco Industries Inc. (US), Samson AG (Germany), Velan Inc. (Canada), Forbes Marshall (India), Dwyer Instruments, Inc. (US), Avcon Controls (India), Dwyer Instruments (US), PR Valves LLC (US), and Danfoss A/S (Nordborg)|
|Key Market Opportunities||Increasing usages of industrial valves in the O&G and energy industry escalates the market growth.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market’s valuation is expected to touch USD 95.13 Bn by 2030
The industrial valve market is expected to augment at 6.1% CAGR.
Increasing output in process manufacturing and rising industrialization on the global front are poised to drive the growth of the market.
By end-user, the segments of the market are oil & gas, chemicals, energy & power, food and beverages, pulp and paper, water and wastewater treatment, construction, and others.
Some of the players contributing to market growth are Emerson (US), IMI PLC (US), Schlumberger Limited (US), Flowserve Corporation (US), Crane Co. (US), Weir Group (UK), AVK Holding A/S (Denmark), and Kitz Corporation (Japan) among others.