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Industrial Valves - Global Market Trajectory & Analytics

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    Report

  • 973 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338760

Global Industrial Valves Market to Reach $92.4 Billion by 2026


Industrial valves are mechanical or electromechanical devices intended to control, divert and regulate pressure and flow of fluids by opening, blocking or closing fluid passage. Industrial valves are mainly utilized in capital-intensive industries, as these industries require a large number of valves during the installation stage. The valves are also utilized as flow controllers for pipelines, through which gases, liquids and semi-solids are transported. The momentum in the industrial valves market is likely to remain northbound through the coming decade, steered by prevailing economic scenario and trends in the core end-use verticals. A key driving factor for the growth of industrial valves market in the upcoming years is the growing energy needs of countries across the world, in particular the developing economies. It is due to the escalating need for energy that power sector, oil & gas, and refining sectors are posting robust growth across the world, thereby generating huge demand for valves. Pharmaceutical, biotechnology, and food processing sectors are also expected to spur demand for valves, while fine and basic chemical sectors are expected to witness steady rise in valve sales. Semiconductor and electronics industries are also expected to generate demand for valves, given the need for critical valves in applications such as etching chemicals, ultrapure water systems, and chip washing, among others. Growing number of smart city development projects in countries across the world, both developed and developing, is another strong growth promoting factor for the market for industrial valves. Another important factor promoting growth for the market for industrial valves is the growing prominence of predictive maintenance among manufacturing and process industries.

Amid the COVID-19 crisis, the global market for Industrial Valves estimated at US$78.6 Billion in the year 2022, is projected to reach a revised size of US$92.4 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. Ball Valves, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$30.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Butterfly Valves segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Industrial Valves market. Ball Valves constitute the largest product segment within the industrial valves market. Manufactured with heavy-duty brass, ball valves are designed for residential and commercial applications for regulating flow of oil, water, and gas. The full ports of ball valves allow for a maximum flow and minimum pressure drop or tumult. Ball valves are widely used because of their high corrosion resistance and because they are capable of achieving tighter shut off. Butterfly valve has a compact design and is lightweight. Its installation inside the pipe is also easy. Another important advantage is that there is limited pressure drop when butterfly valve is used. Uptrend in industrial activity would fuel demand for different types of industrial valves including butterfly valves.

The U.S. Market is Estimated at $20.9 Billion in 2022, While China is Forecast to Reach $18.2 Billion by 2026


The Industrial Valves market in the U.S. is estimated at US$20.9 Billion in the year 2022. The country currently accounts for a 27.03% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$18.2 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR through the analysis period. Buoyed by innovations over the last decade and a half, the valve industry is expected to benefit significantly from the growing demand for and expansion of clean water, energy, food, and power sectors in the long run. Several long-term factors working in tandem to drive growth include government regulations relating to emission control, and growing need to optimize resources such as water and power. Installation of scrubber systems and catalytic systems in power plants has and will continue to boost demand for valves.

Check Valves Segment to Reach $12.4 Billion by 2026


Check valves are ideal even for such applications where different gases are made to flow through a single pipeline. There are different basic designs available, which include swing check valves, lift or piston check valves, dual flap check valves, and air check valves. In the global Check Valves segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.7 Billion will reach a projected size of US$9.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period.

Select Competitors (Total 365 Featured):

  • Anvil International
  • AVK Holding A/S
  • Baker Hughes Company
  • Barksdale, Inc.
  • Cameron
  • CRANE ChemPharma & Energy
  • Crane Co.
  • Crane Nuclear, Inc.
  • Emerson Electric Co.
  • Flowserve Corp.
  • Ham-Let Group
  • IMI Critical Engineering
  • ITT Engineered Valves
  • KITZ Corp.
  • KSB AG
  • SPX Flow, Inc.
  • The Weir Group PLC
  • Velan, Inc.
  • Watts Water Technologies, Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Industrial Valves

What is the growth rate of the Global Market for Industrial Valves?

The growth rate of the Global Market for Industrial Valves is 4.1%, with an estimated value of $92.4 Billion by 2026.

What is the forecasted size of the Global Market for Industrial Valves?

The Global Market for Industrial Valves is estimated to be worth $92.4 Billion by 2026.

Who are the key companies in the Global Market for Industrial Valves?

Key companies in the Global Market for Industrial Valves include Anvil International, AVK Holding A/S, Baker Hughes Company, Barksdale, Inc., Cameron, CRANE ChemPharma & Energy, Crane Co., Crane Nuclear, Inc. and Flowserve Corp..

What is the estimated value of the Global Market for Industrial Valves?

The Global Market for Industrial Valves was estimated to be valued at $78.6 Billion in 2022.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • An Introduction to Industrial Valves
  • Select Industrial Valves and their Characteristics
  • Major Industrial Valves and Their End-Use Industries
  • Parameters Considered for Selection of a Valve
  • Industrial Valves: Current Market Scenario and Outlook
  • Product Segment Analysis
  • Ball Valves: Largest Product Segment
  • Butterfly Valves Remain a Major Category
  • Sustained Demand for Check Valves
  • Diaphragm Valves Continue to Gain Traction
  • Slowing Demand for Gate Valves
  • Globe Valves Continue to Make Gains
  • Plug Valves Emerge as Fastest Growing Category
  • Safety Valves: Niche Segment
  • Developing Economies Provide Major Impetus to the Market Expansion
  • World Industrial Valves Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Industrial Valves Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: Asia-Pacific, China, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
  • Relative Stability in Economic Environment Bodes Well for Industrial Valves Market
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
  • Competitive Scenario
  • Industrial Valves: Fragmented Marketplace
  • Vendors Emphasize Reducing Lead Time
  • Consolidation Gathers Steam
  • Recent Market Activity
  • Industrial Valves - Global Key Competitors Percentage Market Share in 2022 (E)
  • Leading Players in the Global Control Valves Market: Percentage Breakdown of Value Sales by Company for 2019
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Prevailing Scenario in the Industrial Manufacturing Sector Revs Up Demand for Industrial Valves
  • Industrial Production in Select Countries (In US$ Billion) As of January 2020
  • Established Use Case Across Diverse Sectors Sustains Market Expansion
  • Oil & Gas Industry: Major End-Use Sector
  • Critical Importance of Transmission Processes Extends Robust Opportunities
  • Breakdown of Pipeline Miles for Under Construction and Planned Projects Worldwide (in %): 2019
  • Worldwide Planned and Under Construction Pipeline Projects (2019): Percentage Breakdown of Pipeline Miles by Geographic Region
  • Healthy Trajectory in Oil & Gas Sector Favors Growth
  • Increasing Subsea Activities Augur Well
  • Worldwide E&P Capital Spending in $ Billion by Region and Type of Company for the Period 2017-2019
  • Global Subsea Systems Market in US$ Thousand: 2018-2025
  • Breakdown of Global Oil Production Volume by Onshore, Offshore, and Offshore Deepwater Activity for the Years 2011, 2015 and 2019
  • Electric Power Generation Emerges as Fastest Growing End-Use Sector
  • Global Electricity Generation in Billion kWh by Fuel Type for the Years 2010, 2020, 2030, 2040 and 2050
  • Electricity Consumption in Trillion kWh by Region for the Years 2010, 2012, 2014, 2016 and 2018
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Growing Focus on Renewable Energy to Spur Demand
  • Sustained Opportunities in Nuclear Power Sector
  • Global Nuclear Power Current Capacity by Country (2019): Percentage Breakdown of Plant Capacity (GWe) for Canada, China, France, Japan, Russia, South Korea, USA, and Others
  • Operational and Under Construction Nuclear Power Reactors Worldwide by Country: 2018
  • Water & Wastewater Industry: Infrastructure Development Drives Need for Valves
  • Strong Prospects in Petroleum Refining Bode Well for Valves Market
  • Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends for Valves
  • Despite Challenging Conditions, Demand Remains Intact in Iron & Steel Industry
  • Widespread Adoption of Industrial Automation Creates Fertile Environment
  • Valves Market Gears Up for Industry 4.0 Environments
  • Global Spending on Industry 4.0 Technologies (in US$ Billion) for the Years 2019, 2021, and 2023
  • Urban Sprawl Extends Broad-based Opportunities
  • World Urban Population in Thousands: 1950-2050
  • Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
  • Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
  • World Smart City Investments (in US$ Billion) for the Years 2018 through 2025
  • Breakdown of World Smart City Investments (in %) by Country/Region for the Year 2019
  • Bright Future Ahead for Plastic Valves
  • Fluid Power Valves Poised to Post Growth
  • Water and Gas Valves Seek Opportunities
  • Industrial Spray Valves Remain Highly Relevant
  • Thermostatic Valves Make Gains
  • Solenoid Valves: Continuous Evolution and Expansion
  • Technological Innovations & Improvements Sustain Market Momentum
  • Technology Advancements Spur Progressive Evolution in Product Design & Efficiency
  • Rise of IoT Seeks Additional Improvements to Valve Technology
  • Technology Advancements Strive to Curb Fugitive Emissions
  • A Note on Novel Trends in Valve Design Across Valve Types
  • Regulations, Codes and Standards Governing Industrial Valves Market: An Overview
  • List of Specifications Considered for International Standards Accreditation
  • Issues & Challenges
  • Dearth of Favorable Governmental Policies and Lack of Certifications
  • Fluctuations in Raw Material Prices
  • High Fabrication Costs
  • Volatile Oil Prices
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • The United States: Major Market for Industrial Valves
  • Surging Investments in Pipeline Infrastructure Development Rev Up Demand
  • US Crude Transport by Mode (2015, 2020 & 2025): Percentage Share Breakdown for Pipeline, Railroads, and Others
CANADA
  • Market Overview
  • Pipeline Programs Favor Growth
JAPAN
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China: Major Consumer of Industrial Valves
  • Infrastructure Investments Favor Market Expansion
  • Oil & Gas Sector Emerges as New Growth Vertical
  • Electric Power Industry Propels Overall Demand
  • Renewed Emphasis on Nuclear Power Plants Fuels Demand for Nuclear Reactor Valves
  • Outshining Standard Valves, Automatic Valves Gain Traction
  • Competitive Scenario
  • Chinese Industrial Valves Market: A Highly Fragmented Marketplace
  • Leading Players in the Chinese Control Valves Market: 2019
  • Chinese Valve Production Output by Province (in %) for the Year 2019
  • Imports Continue to Deter Prospects of Domestic Manufacturers
EUROPE
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • European Valve Industry by Category (2019): Percentage Breakdown of Production Value for Industrial Valves and Building Valves
  • Emphasis on Oil & Gas Pipeline Networks Augurs Well
  • Regulatory Compliance to Trigger Growth
FRANCE
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Market Overview
ITALY
UNITED KINGDOM
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAIN
RUSSIA
  • Market Overview
REST OF EUROPE
ASIA-PACIFIC
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Industrial Valves Market in Asia-Pacific: A Brief Overview
AUSTRALIA
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • India: A Lucrative Market
  • Growing Automation Investments Steer Demand
  • Intelligent Valves Make a Cut
  • Expansion of Natural Gas Network to Benefit Industrial Valves Market
  • COMPETITIVE SCENARIO
  • A Fragmented Marketplace
  • A Note on Leading Players
  • Small Scale Manufacturers Expand Capacities
  • Growing Opportunities in Foreign Markets
  • Indian Industrial Valves Market by Distribution Channel (in % Value) for 2019
SOUTH KOREA
  • Market Overview
REST OF ASIA-PACIFIC
  • FOCUS ON SELECT MARKETS
  • Singapore
  • The Philippines
LATIN AMERICA
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZIL
MEXICO
  • Robust Opportunities for Industrial Valves Market
REST OF LATIN AMERICA
MIDDLE EAST
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Middle East: Increasing Demand for Industrial Valves
  • Opportunities Rife in the Sprawling Oil & Gas Sector
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Industrial Valves Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • South Africa: Prominent Consumer of Industrial Valves
IV. COMPETITION
  • Total Companies Profiled: 365

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Anvil International
  • AVK Holding A/S
  • Baker Hughes Company
  • Barksdale, Inc.
  • Cameron
  • CRANE ChemPharma & Energy
  • Crane Co.
  • Crane Nuclear, Inc.
  • Emerson Electric Co.
  • Flowserve Corp.
  • Ham-Let Group
  • IMI Critical Engineering
  • ITT Engineered Valves
  • KITZ Corp.
  • KSB AG
  • SPX Flow, Inc.
  • The Weir Group PLC
  • Velan, Inc.
  • Watts Water Technologies, Inc.