Published Report - Industrial Valves Market Size and Share Analysis by 2031

  • Report Code : TIPAR00002517
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 417
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Industrial Valves Market Size and Share Analysis by 2031

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The industrial valves market was valued at US$ 64,335.89 million in 2023 and is expected to reach US$ 89,331.32 million by 2031; it is estimated to record a CAGR of 4.2% from 2023 to 2031.

Over the years, several companies operating in the global industrial valves market have been focused on the development of small valves. However, several other industries have showcased a rise in demand for large valves owing to the installation of large pipelines, as they offer higher flexibility compared to small valves. This has influenced the global industry valves market players to focus on new product development and strategic partnerships with clients to deliver products as per customer needs. For instance, in May 2022, Neway Valves announced its partnership with an anonymous oil company to supply gate valves of 88 inches and 72 inches. These valves are experiencing a rise in demand across various oil & gas companies owing to their high anti-leak features. Similarly, in February 2023, ARMATURY Group a.s. Supplied 60 pieces of 43.5-inch gate valves to Gaz System for its Gustorzyn-Wronów-Dolna Odra project. Thus, the rising demand for large gate valves across industries is expected to offer lucrative business opportunities to the global industrial valves market players over the forecast period.

Impact of COVID-19 Pandemic on Industrial Valves Market

APAC consists of prominent oil and gas and chemical-producing countries. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic has severely affected several countries, such as India, Australia, China, and Japan. India was the worst-hit country by the pandemic in this region. Governments of these countries imposed limitations to control the spread of SARS-CoV-2 during the initial period of the outbreak. Also, limited workforce and social distancing norms led to a decline in the frequency of the production process. China, Australia, Iran, Indonesia, and Malaysia are a few prominent natural gas-producing countries in the region. Major natural gas-consuming countries in APAC are China, Japan, South Korea, and India. China imposed strict lockdown and social isolation norms during the COVID-19 outbreak, which stopped exploration activities and reduced the demand for oil and other energy commodities across the country. As a result, natural gas storage and transportation activities declined significantly across China, which decreased the demand for industrial valves.

Lucrative Regions for Industrial Valves Market Growth

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Published Report - Industrial Valves Market: Strategic Insights

Published Report - Industrial Valves Market

  • CAGR (2023 - 2031)
    4.2%
  • Market Size 2023
    US$ 64,335.89 Million
  • Market Size 2031
    US$ 89,331.32 Million

Market Dynamics

GROWTH DRIVERS
  • Rapid Urbanization Across the Globe is Driving the Market Growth
  • Growing Use of Valves in Oil and Gas Industry
  • Increasing Use of Ball Valves and Butterfly Valves
FUTURE TRENDS
  • Rise in Investments in Water Treatment Plants
  • Rising Popularity of Smart Valves
OPPORTUNITIES
  • Growing Number of Smart City Initiatives

Key Players

  • Velan Inc
  • Crane Co
  • CIRCOR International Inc
  • Flowserve Corp
  • Emerson Electric Co
  • KITZ Corporation
  • Neway Valve (Suzhou) Co Ltd
  • Spirax Sarco Engineering Plc
  • Schlumberger Ltd

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Valves Type
  • Ball Valve
  • Butterfly Valve
  • Safety Valve
  • Control Valve
  • Check Valve
  • Plug Valve
  • Others
Ball Valve Type
  • Top Entry
  • Fully Welded
  • Side Entry
Size
  • Up-to 5 Inches
  • 6 to 15 inches
  • 16 to 24 inches
  • Above 25 Inches
  • Check Valves
  • Others  
Class
  • Below 150
  • 300
  • 400
  • 600
  • 800
  • 900
  • 1500
  • 2500
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights – Industrial Valves Market Analysis

The introduction of new and stringent rules for ballast water treatment across Europe and APAC is propelling the need for industrial valves. The rising oil & gas production from subsea sources has propelled the demand for industrial valves over the years. In process sectors, high labor costs in Europe are prompting businesses to prefer automation systems. Thus, growing industrialization, rising natural gas demand, and increasing exploration operations are a few factors fueling the industrial valves market growth in Europe. Moreover, the European Union (EU) has enacted strict legislation restricting emissions and gas leakages in the mining, refining, oil & gas, power, and chemical industries. As a result, the need for high-quality industrial valves is constantly increasing across these industries in Europe. Further, the chemical industry in the region is significantly growing. According to the European Chemical Industry Council, AISBL, chemicals worth US$ 632.06 billion were sold across Europe in 2021, contributing 15% of the global chemical trade. The rise in chemical production and sales across the region is expected to bolster the Europe industrial valves market in the coming years.

Valves Type-Based Insights

Based on valve type, the industrial valves market is segmented into ball valves, butterfly valves, safety valves, control valves, check valves, plug valves, and others. The ball valves segment accounted for the largest industrial valves market share in 2022. A ball valve is a widely used valve in the industrial sector. It is majorly used for pressure and flow control applications for slurries, normal liquids, gases, and corrosive liquids across major industries such as oil & gas, manufacturing, and chemical & petrochemical. The valves are easy to design; they fit seamlessly across any pipe and have high durability. Constant development initiatives undertaken by global ball valve manufacturers are further contributing to the market growth. For instance, in November 2021, Rusco announced the launch of smart, automated ball valves for home filtration, well water, and commercial and municipal applications. These can be paired with smartphones for program automation, sediment flushing, and flow shutoff.

The control valve subsegment is further divided into 2-way and 3-way. The 2-way segment registered a higher market share with revenue of US$ 11,569.1 million in 2023 and is expected to maintain its position over the forecast period. This is owing to the rise in demand for variable speed systems from industries, including oil & gas, energy & power, and chemical & petrochemicals, among others, to control the flow of fluid through pipelines. In addition, 2-way control valves provide better control of the flow and pressure of liquids or gases in industrial systems. Accurate control of these parameters is critical to maintaining efficient operations, reducing waste, and ensuring the safety of industrial processes. Compared to other types of valves, two-way valves possess benefits such as easy installation and maintenance, saving the time and cost of maintaining the valve. In addition, these valves are intended to reduce the risk of leakage and contamination within an industrial system, as they can effectively interrupt the flow of materials when necessary. Hence, two-way valves are increasingly being used for chemical production, water treatment, oil & gas exploration, and pharmaceutical operations.

The global industrial valves market is segmented based on valve type, ball valve type, size, class, industry, butterfly valve disc closure type, construction type, control valve type, and check valve type. Based on valve type, the industrial valves market is classified into ball valves, butterfly valves, safety valves, control valves, check valves, plug valves, and others. Based on the size, the market is divided into up to 5 Inches, 6 to 15 inches, 16 to 24 inches, and above 25 Inches. Depending upon the Class, the market is divided into below 150, 300, 400, 600, 800, 900, 1500, and 2500. Based on industry, the market is bifurcated into oil and gas, LNG, water treatment, power and energy, chemical and petrochemical, and others. The industrial valves market, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Crane Co., Emerson Electric Co., Flowserve Corporation, Kitz Corporation, and Schlumberger Limited are among the prominent players profiled in the industrial valves market report.

Industrial Valves Market Report Scope

Report Attribute Details
Market size in 2023 US$ 64,335.89 Million
Market Size by 2031 US$ 89,331.32 Million
Global CAGR (2023 - 2031) 4.2%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Valves Type
  • Ball Valve
  • Butterfly Valve
  • Safety Valve
  • Control Valve
  • Check Valve
  • Plug Valve
  • Others
By Ball Valve Type
  • Top Entry
  • Fully Welded
  • Side Entry
By Size
  • Up-to 5 Inches
  • 6 to 15 inches
  • 16 to 24 inches
  • Above 25 Inches
  • Check Valves
  • Others  
By Class
  • Below 150
  • 300
  • 400
  • 600
  • 800
  • 900
  • 1500
  • 2500
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Velan Inc
  • Crane Co
  • CIRCOR International Inc
  • Flowserve Corp
  • Emerson Electric Co
  • KITZ Corporation
  • Neway Valve (Suzhou) Co Ltd
  • Spirax Sarco Engineering Plc
  • Schlumberger Ltd
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Industrial Valves Market Analysis

    Players operating in the industrial valves market are mainly focused on the development of advanced and efficient products. As per the company press releases, below are a few recent key developments:

    • In February 2024, KITZ Corporation planned to establish a new manufacturing facility in Vietnam to increase its production of high-purity valves in the market for gas and semiconductors.
    • In 2021, Crane launched a new FK-TrieX full port triple offset isolation valve that offered reliability, safety, and efficient operation for various service applications. The FK-TrieX features superior fugitive emissions control and enhanced reliability with a unique bi-directional bubble-tight shutoff, which minimizes the total cost of ownership.
    • In 2021, KITZ exhibited at UAE GASTECH 2021, Dubai, held from September 21 to September 23. KITZ exhibited mainly the introduction of cryogenic valves for LNG and liquefied hydrogen and valves for hydrogen stations compatible with high-pressure.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Material Type, Valves Type, and Industry

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which is the leading material type segment in the global industrial valves market?

    The water treatment segment led the industrial valves market with a significant share in 2023 and it is also expected to grow with the highest CAGR.

    Which are the key players holding the major market share of global industrial valves market?

    The key players, holding majority shares, in industrial valves market includes Schlumberger Ltd, Emerson Electric Co, KITZ Corporation, Flowserve Corp, and Crane Co.

    What are the driving factors impacting the global industrial valves market?

    With the growing use of valves in the oil & gas industry expected to drive the market, oil acts as an important base raw material for deriving various chemicals such as organic, analytical, physical, inorganic, and biochemistry industrial valves are used across the oil & gas industry for the seamless transportation of oil and gas from one process to another and other distribution purposes. Thus, the growing oil & gas industry is boosting growth in the global industrial valves market.

    What is the estimated global market size for the global industrial valves market in 2023?

    The global industrial valves market was estimated to be USD 64,335.89 million in 2023 and is expected to grow at a CAGR of 4.2% during the forecast period 2023 - 2031.

    What are the future trends of the global industrial valves market?

    Rising advancements in microprocessor processing capabilities and high-speed connectivity technologies have paved the way for the wide-scale deployment of the Internet of Things (IoT). With the growing emphasis on digitalization and automation, manufacturers are increasing their demand for smart valves to achieve higher efficiency across production processes. As a result, this growing digitalization trend is expected to fuel the industrial valves market growth during the forecast period.

    Which is the fastest growing regional market?

    APAC is anticipated to grow with the highest CAGR over the forecast period.

    What will be the global market size for industrial valves market by 2031?

    The industrial valves market is expected to reach USD 89,331.32 million by 2031.

    The List of Companies - Industrial Valves Market

    1. Velan Inc
    2. Crane Co
    3. CIRCOR International Inc
    4. Flowserve Corp
    5. Emerson Electric Co
    6. KITZ Corporation
    7. Neway Valve (Suzhou) Co Ltd
    8. Spirax Sarco Engineering Plc
    9. Schlumberger Ltd
    10. Weir Group PLC

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