In 2014, the global industrial valve market was valued at USD 58.31 trillion. The market is expected to grow due to increased automation and the expansion of existing facilities. Market growth is expected to be influenced by a growing demand for flow control equipment. The development of smart valves with intelligent control systems is expected to be significant.
U.S. Industrial Valve Market Share by Product, 2012-2022 (USD Million).
In the next seven year, there will be an increase in the use of smart technology and diagnostics in industrial valves to monitor process variables, including temperature and pressure stem position.
The advancement of smart valves that have integrated embedded processors and network capability for subsea oils & gases has improved the system's reliability and responsiveness. This is expected to make it a major rendering driver.
Exploration spending and production in the oil and gas industry have increased. Technological innovations have enabled access to resources in deep water or in unusual reservoirs, such as those that are high temperature, high pressure, or under-pressured.
The market for industrial valves is likely to see significant growth due to increased pipeline installations and the growth of unconventional oil & gaz applications in the downstream segment. Automation is becoming more prominent in the process industry, which has resulted in an increase in demand for control valves.
Growth may be impeded by factors such as the emoting of coal consumption and the shutdown of traditional coal-fired power plants. The technology may be less used and adopted if the prices of raw materials fluctuate. Industry growth may also be hindered by strict government regulations regarding conventional power plants.
You can categorize the industry by product into check, ball, butterfly and globe valves. In 2014, 19% of revenue came from ball valves. These valves are used mainly for flow control and in situations where tight shutoff is necessary. This technology aids in the circulating of systems on ships, chlorinators, and fire safety protection services.
Due to the growing use of butterfly valves in the oil and gas industry, the demand has seen a significant rise in recent years. Demand is expected to rise due to the substantial investment in pipelines and refineries within the oil & natural gas industry.
The demand for check valves is expected to grow steadily, with a CAGR exceeding 7% over the next seven year. These valves prevent the flow of process fluid from returning to the system. This helps avoid damage to equipment and disruptions. The demand for these valves has been positively affected by increasing automation and the need to control fluid flow in refineries.
The study analyzed the following application sectors: oil & Gas, power, pharmaceuticals, municipal wastewater, chemical, food & drink. In 2014, oil & gas accounted for more than 21% of overall revenue share. The industrial valves market has seen a rise in demand for longer pipelines, deeper wells, and lower production costs. This is due to technological advancements in processing, production, transportation, and processing. The industry has seen an increase in pipeline installations, as well as the increasing need to monitor and control from a central location.
Water and wastewater applications are expected to grow at a rate of nearly 6% over the forecast period. The adoption of water & wastewater applications is expected to rise due to increasing population and urbanization. The industry will continue to grow due to the increasing need for pumps and equipment, as well as for controlling wastewater flow and treatment.
In 2014, the Asia Pacific market was worth more than USD 20 billion. In the Asia Pacific region, there is expected to be a positive impact on production due to the booming chemical consumption and the escalating construction activity. The demand will also be driven by the increasing construction of nuclear power stations and expansions in capacity at petroleum refining facilities. China, for example, is expected to invest in new scrubbers and coal-fired power plants.
The North American market will offer huge potential for growth. This region has great potential to grow due to its growing oil sands production and Shale gas. It is expected that the demand for valves will rise as more efficient and old-fashioned valves are replaced with newer, better valves for gas transportation in the midstream infrastructure.
The U.S. is experiencing a revolution in oil & gas production from shale gas. This has led to high investments in exploration, production and maintenance in North America. Market potential will be boosted by the growing demand for electricity generation from renewable energy sources.
Europe's market demand was more than USD 12 billion in 2014. It is expected to experience slower growth than other regions. The region's demand for valves will increase over the forecast period due to the development of offshore sites, and the growing demand from Russia in the middlestream segment of oil and gas.
Market share leaders include Emerson Electric and KSB AG, Kitz Corp., Curtiss-Wright Corp. and Pentair PLC. Valve manufacturers will be able to increase their productivity by developing new products and replacing them with more efficient products.
Other potential players include CIRCOR International, Cameron International, AlfaLaval AB, AVK Grup, Camtech Manufacturing FZCO, Delta-Pacific Valves Ltd., Goodwin PLC, GWC Valve International Inc., Watts Water Technologies, Inc.
Tene Investment Funds Ltd. will acquire a 74% control stake in Habonim Industrial Valves & Actuators Ltd.. This northern Israel-based company caters to the chemical, oil, and gas industries. Habonim's annual sales range from USD 28 million to USD 42 million.
KCM Capital Partners LLC is a Chicago-based private investor firm that has purchased Industrial Valve Sales & Services LLC. This acquisition will allow IVS to increase its growth.
Bonomi Group purchased FRA.BO.S.p.A in August 2019. It is located in Brescia (Italy). FRA.BO is a major manufacturer of plumbing fittings in brass, copper and stainless steel. Bonomi hopes to be more competitive in the global flow-control and plumbing markets by acquiring FRA.BO.
b. Global industrial valves market was valued at USD 74.5 billion in 2019, and is projected to grow to USD 78.1 billion by 2020.
What is the growth rate of the industrial valves market?b. Global industrial valves market will grow at a compound annual rate of 5.0% between 2015 and 2022, to reach USD 85.6 million by 2022.
Which market segment had the largest share of industrial valves?b. With a market share of 42.5%, the Asia Pacific was the dominant region in industrial valves in 2019, This can be attributed to the increasing construction of nuclear power stations and expansions in capacity at petroleum refining facilities.
What are the major players in the industrial valves marketb. Flowserve Corporation, KITZ Corporation, Curtiss-Wright Corporation, Emerson Electric Co., KSB SE & Co. KGaA and Pentair plc are some of the key players in the industrial valves industry.
What are the driving factors for the industrial valves marketb. Stringent government regulations, technological advances that encourage the use of smart actuators and valves, and growing demand from the industrial sector are key factors driving market growth.
Up Market Research published a new report titled “Industrial Valves Market research report which is segmented by Application (Pharmaceutical, Power, Chemical, Food & Beverage, Oil & Gas, Water & Wastewater), by Product (Ball, Globe, Check, Gate, Butterfly), By Players/Companies Flowserve Corporation; KITZ Corporation; Curtiss-Wright Corporation; Emerson Electric Co; KSB SE & Co KGaA; and Pentair plc amongst others”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Industrial Valves Market Research Report |
By Application | Pharmaceutical, Power, Chemical, Food & Beverage, Oil & Gas, Water & Wastewater |
By Product | Ball, Globe, Check, Gate, Butterfly |
By Companies | Flowserve Corporation; KITZ Corporation; Curtiss-Wright Corporation; Emerson Electric Co; KSB SE & Co KGaA; and Pentair plc amongst others |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 227 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Pharmaceutical, Power, Chemical, Food & Beverage, Oil & Gas, Water & Wastewater), by Product (Ball, Globe, Check, Gate, Butterfly).
Industrial Valves Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Industrial Valves Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Industrial Valves Market Report:
Some other reports from this category!