Harness the power of comprehensive insights and deep-dive analytics with our report on the Industrial Valves Market. Understand the emerging trends, key growth drivers, obstacles and opportunities in this market, impacting sectors like oil and gas, power, and chemical industries. From valuing the increase in global energy demands to tweaks in the governmental policies across various nations, we lay down detailed and nuanced facts helping you make informed decisions.
Gain competitive edge with our systematic and objective market analysis, now more than ever, in the evolving landscape of the Industrial Valves Market. The report earmarks heavy potential in the APAC region, with its sprawling oil and gas industry and rising needs in water treatment. Navigate through the highly fragmented arena, dominated by key players like Schlumberger Limited, Emerson Electric Co., and Flowserve Corporation with our insightful analysis. Crystallize your market entry and expansion strategies with data that matters.
- Oil and gas are the key industries using valves. The industry was halted during the lockdown. The COVID-19 pandemic negatively impacted the industrial valve market owing to this factor, and the market was expected to observe steady growth by the end of 2022.
- Over the short term, the major factors driving the market studied are the growing demand from the power and chemical industries. The increase in demand for desalination activity has also driven the market's growth.
- However, stagnant industrial growth in developed countries is expected to hinder the growth of the market studied.
- Nevertheless, an increase in demand for automatic valves is expected to increase the demand for industrial valves over the forecast period.
- The Asia-Pacific region is expected to dominate the market, and it is estimated to witness the highest CAGR during the forecast period.
Industrial Valves Market Trends
Increasing Demand from the Power Industry
- In the power industry, valves are used for various applications, such as boiler startups, feed pump recirculation, steam conditioning, and turbine bypass.
- For instance, valves in the condensate system are used to control and regulate the additional flow required for a fluid recirculation condensate pump. Furthermore, valves are also used to control the deaerator level for the feedwater heater.
- For the feedwater system in the power industry, valves are used for boiler feed pump recirculation. The valve plays a key role in this scenario, as it should be operated in on-off and modulating service.
- Additionally, in mainstream systems, the valves are used for superheaters, turbine bypass, superheater bypass, etc. A modulating valve is used for controlling pressure.
- By 2030, the global electricity demand is estimated to grow by 75%. Even though the energy generated by renewable sources is proliferating, the scale of electricity produced by them is not enough to satiate the rapidly growing demand.
- According to the World Energy Outlook- International Energy Agency forecast, more than 2,457 gigawatts (GW) of power capacity is expected to be installed worldwide over the next 25 years.
- Additionally, the government’s focus on increasing the capacity additions of power plants across the country is the factor that is boosting the demand for valves in the power industry.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominates the global market share. With growing oil and gas industrial activities and the increasing need for water treatment in countries such as China, India, and Japan, the usage of industrial valves is increasing in the region.
- The Asia-Pacific region is the leading contributor to the world’s specialty chemicals economy, holding a significant revenue share of nearly 36%.
- Southeast Asia is expected to start a total of 54 oil and gas projects across six countries between 2021 and 2025. Together, they would represent about 223,000 barrels per day of global crude production and about 8.1 billion cubic feet per day of global gas production in 2025.
- Wastewater treatment plants are also being increasingly produced following massive industrialization in countries such as China, India, and the ASEAN region,
- The aforementioned factors, coupled with government support, are expected to contribute to the increasing demand for industrial valves consumption in the region during the forecast period.
Industrial Valves Market Competitor AnalysisThe industrial valves market is highly fragmented, with the top ten players accounting for less than 15% of the total market share. The major companies include Schlumberger Limited, Emerson Electric Co., Flowserve Corporation, IMI, and Crane Co., among others.
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Table of Contents1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from the Power and Chemical Industry
4.1.2 Increase in Demand for Desalination Activity
4.2.1 Stagnant Industrial Growth in Developed Countries
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Butterfly Valve
5.1.2 Ball Valve
5.1.3 Globe Valve
5.1.4 Gate Valve
5.1.5 Plug Valve
5.1.6 Other Types
5.2.1 Quarter-turn Valve
5.2.2 Multi-turn Valve
5.2.3 Other Products
5.3.2 Water and Wastewater Management
5.3.4 Oil and Gas
5.3.5 Other Applications (Includes Food Processing, Mining, and Marine)
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALFA LAVAL
6.4.2 AVK Holding AS
6.4.3 CIRCOR International Inc.
6.4.4 Crane Co.
6.4.5 Curtiss-Wright Corporation
6.4.6 Danfoss AS
6.4.7 Zhejiang Dunan Valve Co. Ltd
6.4.8 Emerson Electric Co.
6.4.9 Flowserve Corporation
6.4.10 Baker Hughes
6.4.11 Georg Fischer Ltd
6.4.12 Hitachi Ltd
6.4.13 Honeywell International Inc.
6.4.15 ITT Inc.
6.4.16 KITZ Corporation
6.4.17 KLINGER Group
6.4.18 Mueller Water Products Inc.
6.4.19 NIBCO Inc.
6.4.20 Okano Valve Mfg. Co. Ltd
6.4.22 Schlumberger Limited
6.4.23 TechnipFMC PLC
6.4.24 The Weir Group PLC
6.4.25 Valvitalia SpA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increase in Demand for Automatic Valves
A selection of companies mentioned in this report includes:
- ALFA LAVAL
- AVK Holding AS
- CIRCOR International Inc.
- Crane Co.
- Curtiss-Wright Corporation
- Danfoss AS
- Zhejiang Dunan Valve Co. Ltd
- Emerson Electric Co.
- Flowserve Corporation
- Baker Hughes
- Georg Fischer Ltd
- Hitachi Ltd
- Honeywell International Inc.
- ITT Inc.
- KITZ Corporation
- KLINGER Group
- Mueller Water Products Inc.
- NIBCO Inc.
- Okano Valve Mfg. Co. Ltd
- Schlumberger Limited
- TechnipFMC PLC
- The Weir Group PLC
- Valvitalia SpA