Industrial Valves Market achieved USD 65.4 billion in 2021 and will reach USD 94.4 billion in 2029, exhibiting at a CAGR of 4.7% | Size & Forecast

GMI Research analysis indicates that the Industrial Valves Market size was estimated at USD 65.4 billion in 2021 and is slated to register a single digit CAGR of 4.7% over the forecast period, and is projected to reach USD 94.4 billion in 2029.

Industrial Valves Market Trends and Drivers

The key factors supporting the market growth of the industrial valve market includes increasing industrialization, growing infrastructure development and increasing demand for energy and utility.  In addition, increasing adoption of Industrial valves across various industries for ensuring the effective and secure flow of fluids and gases is further propelling the market growth. Rapid expansion of industrialization and infrastructural development across the globe is enhancing the global industrial valves market. The increased demand for energy and utility, including water, electricity, gas, and oil is boosting the growth of the market. Furthermore, the government is investing on setting up new water treatment plants and new pipeline projects for the supply of gas in the commercial and non-commercial areas worldwide. For example, Indian government has decided to spend 60 billion USD during 2020 – 2024 to build new pipeline and LNG terminals in the country. Along with the investment the Indian government planned to rise country’s regasification capacity to more than 61 million metric tonnes and to control gas flow in gas distribution systems. Growing demand for industrial valves across healthcare and pharmaceutical industrial coupled with the increasing focus towards adoption of automation solutions will bolster the market growth. Increasing use of 3D printing technique for manufacturing industrial value is further paving way for the industrial valves market. However, high installation cost and fluctuations in the raw material prices will hinder the market growth.  

Based on Industry, Oil and Gas segment is expected to grow at highest CAGR.

Increased pipeline installations along with the growing demand for deeper wells is expected to drive oil and gas segment. The major factor driving the oil and gas industry is rise in drilling activity in the gulf countries. For instance, Saudi Arabia ‘s current drilling capacity is estimated too be 12 million barrels per day and the government further planned to increase drilling capacity by 75000 barrels per day in the Damman fields and in other regions by 2024. These factors will create more opportunities for industrial valves market in Oil and gas industry in near future. 

Based on Region, Asia-Pacific region is anticipated to hold largest share.

Asia – pacific industrial valves market is driven by rapid development of the water and waterways industries along with the expansion in the commercial and residential sectors. Furthermore, the growing need for proper use of water and increasing demand for water and wastewater technology is creating more demand opportunities for industrial valves across APAC countries. Additionally, the increase in the implementation of industrial valves in sewage pumping, wate water treatment plants and various other applications are contributing towards the growth of industrial valve market. Likewise, growth in the construction of nuclear power station and capacity expansion in petroleum refining plants are expected to be the boosting factors for the expansion of market in the coming years. China is expected to grow at the fastest rate in APAC region during the forecast period owing to the increasing population size and rising investment for power generation.

Top Market Players

Some of the major companies operating in the Industrial Valves market are Emerson Electric Co., The Weir Group PLC, Flowserve Corporation, Schlumberger Limited, IMI PLC, Spirax Sarco Limited, Crane Co., KITZ Corporation, Metso Corporation, and Neway Valve, among others.

Market Segmentation

Segmentation by Material
o Steel
o Cast Iron
o Cryogenic
o Alloy Based
o Others

Segmentation by Valve Type
• Ball Valves
• Butterfly Valves
• Check Valves
• Diaphragm Valves
• Gate Valves
    o Standard Plate Gate Valves
    o Wedge Gate Valves
    o Knife Gate Valves
• Globe Valves
• Plug Valves
• Safety Valves

Segmentation by Size
o Up to 1”
o 1–6”
o 6–25”
o 25–50”
o 50” & Larger

Segmentation by Industry
o Oil & Gas
o Water & Wastewater Treatment
o Energy & Power
o Chemicals
o Food & Beverages
o Pharmaceuticals
o Construction
o Agriculture
o Pulp & Paper
o Metals & Mining
o Others

Segmentation by Region
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE

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About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and businesss decisions.

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