Industrial valve market is expected to grow from USD 70.53 billion in 2017 to USD 90.77 billion by 2023, at a CAGR of 4.53% during the forecast period. The ongoing industrialization in developing countries such as India and continued growing adoption of latest technology valves in process manufacturing units in developed countries are the key drivers for the industrial valve market.
On the basis of end-use verticals, the market has been segmented into oil & gas, energy & power, chemicals, food and beverages, water and wastewater treatment, pulp and paper, construction, and others. The oil and gas segment is estimated to dominate the market throughout the forecast period. The growing investments for capacity expansion in the oil & gas sector in the Middle East and Africa, and the rise in demand for maintenance operations in refineries boost the demand for Industrial Valves Marketin the oil & gas sector. However, the energy & power industry is estimated to register the highest CAGR during the forecast period.
The major players constantly focus on growth strategies such as strategic partnerships, mergers, acquisitions, and product launches to enhance their product offerings and expand their market reach. For instance, in 2018, Trelleborg Sealing Solutions partnered with LB Bentley to develop a medium duty rotary gate valve. This valve is based on stem sealing technology that reduces the risk of contamination and failure.
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The key players profiled in the industrial valve market research report are 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), and Conbraco Industries Inc. (US). The major players constantly focus on growth strategies such as partnerships, mergers, acquisitions, and product launches to enhance their product offerings and expand their market reach. The other prominent players in the in the industrial valve market are 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).
Industrial valve market has been segmented based on type, material, size, end-use verticals, and region.
By type, the market has been segregated into ball valves, butterfly valves, check valves, pinch valves, gate valves, globe valves, and plug valves.
On the basis of material, the market has been segmented stainless steel, cast iron, brass, alloy based, cryogenic, and others.
By size, the market is segmented into less than 1”, 1″ to 25″, 25″ to 50″, and 50″ and above.
By end user, the market has been segmented oil & gas, energy & power, chemicals, food & beverages, water & wastewater treatment, pulp & paper, construction, others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for industrial valve market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the industrial valve market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific accounted for the highest market share in the industrial valve market in 2017, and it is expected to register the highest CAGR during the forecast period. The growth in the market in this region is attributable to factors including ongoing infrastructure development, the rapid pace of industrialization, and growing investments in end-use industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction. Furthermore, the demand from oil-producing region—Middle-East and Africa (MEA)—is expected to remain high owing to the rise in production.
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- Industrial valves manufacturers
- Manufacturers of components
- Professional services/solutions providers
- End users from the listed industries
- Process industry standard organizations
- Research institutes and organizations
- Associations of valve manufacturers
- Safety equipment manufacturers
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