North America Industrial Valves Market Outlook, 2028

North America Industrial Valves Market Outlook, 2028

In North America, industrial valves serve as key parts of many different industries, including manufacturing, petrochemical, oil and gas, water and wastewater, power production, and more. These valves regulate the flow of steam, gases, and liquids, guaranteeing the safe and effective operation of a number of operations. Valve Manufacturers Association of America (VMA) is the only North American trade association that represents the interests of manufacturers, suppliers and distributors of valves, actuators, and controls. It has nearly 100 member companies, which account for approximately 80% of the total industrial valve shipments out of U.S. and Canadian facilities. VMA provides a forum for members to network, share information, and collaborate on industry initiatives. It also represents the valve industry to government and regulatory agencies. The American Petroleum Institute (API) is an oil and gas industry trade association that oversees standards in oil and gas production. API 526 covers safety valves for use in the petroleum and natural gas industries. These valves are designed to protect against overpressure conditions in piping systems, vessels, and equipment by automatically relieving excess pressure. North America is home to numerous valve manufacturers and players, both large and small. Some well-known valve manufacturers in the region include Emerson Electric Corporation, Schlumberger NV, velan holding co. ltd., Kitz Corporation, Neway valve. The valve industry in North America, like other regions, has seen advancements in technology. This includes the development of smart valves and control systems that can be integrated into automation and control systems for improved monitoring and maintenance.

According to the research report,"" North America Industrial Valves Market Outlook, 2028"" published by Bonafide Research, the market was valued at more than 20 Billion in 2022. The industry has seen a sharp rise in the adoption of smart valves in recent years, which incorporate advanced sensors and automation functions. These smart valves increase operational efficiency and enable predictive maintenance, which reduces maintenance costs and downtime, because they can monitor and analyze data in real-time. Improving performance and safety has fundamentally altered how industries manage their operations. The use of 3D printing technology in valve manufacture is another significant recent development. In addition to cutting lead times, this offers businesses looking for specially designed valve solutions for their unique requirements competitively cost possibilities. In the valve market, environmental sustainability is likewise becoming more and more important. These days, companies are focusing on developing energy-efficient and pollutant-free ecologically friendly valves. Low-emission valve use is expanding, particularly in sectors like the oil and gas industry that are subject to stringent environmental restrictions. A shift in the materials utilized to make valves toward high-performance polymers and composite materials. Under difficult operating conditions, valve dependability is increased by these materials' increased durability and corrosion resistance.

The industrial valve market in North America, with a particular emphasis on the United States, Canada, and Mexico, is characterized by robust growth and evolving trends. The United States, in particular, stands out as a leading market with promising prospects for the future. This position is underpinned by its strong industrial base and diverse range of applications. The market is poised for sustained growth in the coming years, driven by several factors. While traditional heavyweights like the oil and gas and power generation industries remain pivotal players in the market, the U.S. is witnessing a significant surge in demand from emerging sectors. These include industries like renewable energy, pharmaceuticals, and biotechnology. These newer and rapidly expanding industries are now key consumers of industrial valves. They rely on these valves to enhance operational efficiency, reduce downtime, and elevate safety standards across their operations. The integration of cutting-edge technology into valve systems is a hallmark of the U.S. market. Sensors and data analytics are being seamlessly incorporated into valve systems, allowing for real-time monitoring and remote control. This technological integration is increasingly vital in modern industrial processes where precision and efficiency are paramount. Mexico, as a neighboring country, also plays a crucial role in the North American industrial valve market. The North American Free Trade Agreement (NAFTA), now known as the United States-Mexico-Canada Agreement (USMCA), has further streamlined trade within the region. This has made Mexico an attractive choice for valve production and distribution. The industry in Mexico continues to evolve, adapting to contemporary demands, with a growing emphasis on energy-efficient and environmentally friendly valve solutions.

Based on the types of valves utilized, which have distinct functions in a broad range of applications across many industries, the industrial valve market is elaborately classified. Globe valves are one of the valve types that have the largest market share among them. Because they provide accurate control over fluid flow, globe valves are a popular choice for applications requiring flow rate throttling or fine-tuning. They are essential in sectors including water treatment, oil and gas, and power generation because of its adaptable design, which includes a moveable plug and a globe-shaped body that allows for exceptional flow management. In terms of market share, globe valves are followed by gate valves. The fluid flow is regulated by the up-and-down movement of a gate- or wedge-shaped closure on these valves. When completely opened, gate valves are excellent at offering a straight-through flow route, and when fully closed, they are an efficient shut-off. They are widely utilized in applications like major pipeline systems and the oil and gas sector, where little fluid resistance and low pressure drop are critical. Additionally, ball valves have a sizable market share. Ball valves are known for their dependable and speedy shut-off times. They are frequently found in sectors like water distribution networks, petrochemicals, and chemical processing. Apart from these three primary categories, a multitude of other valve types, including as butterfly, check, plug, diaphragm, pinch, needle, and pressure relief valves, substantially contribute to the total expansion of the industrial valve market. These valves serve a variety of purposes in various industries, including isolation, managing corrosive or abrasive fluids, preventing backflow, and assuring safety by releasing excessive pressure.

When the industrial valve market is divided up by the material used to make the valves. Steel-based valves have established themselves as industry leaders in this particular market niche. Steel valves are the go-to option in demanding industrial applications because of their remarkable longevity, resistance to corrosion, and ability to withstand high temperatures. Steel valves are used extensively in a variety of industries, including water treatment, petrochemicals, oil and gas, and power generation, because of their durability and resilience under demanding operating conditions. Additionally, cast iron valves have a sizable market share. Cast iron is highly recognized for its durability and affordability, which makes it especially appropriate for uses in which high temperatures and pressures are not the main concern. Cast iron valves are widely used in industries such as wastewater treatment, municipal water supply, and HVAC systems. Their steadfastness in the industry is a result of their dependability and affordability. Another sizable segment of the market is made up of alloy-based valves. These valves are made specifically to meet certain needs, such resistance to harsh temperatures or corrosive conditions. Due to their adaptability, alloy-based valves are essential in sectors like chemical processing where handling strong fluids and chemicals is frequently required. The other kinds, which come in a variety of materials such as PVC, brass, bronze, plastic, aluminum, copper, and cryogenic, also play a vital role in the industrial valve market.

Industrial valves are vital parts of many different sectors, but because of the multitude of uses these parts serve, the oil and gas sector is the one that depends on them the most. In the oil and gas industry, industrial valves are required for midstream transportation, downstream refining and distribution, and upstream exploration and production. By controlling the flow of petrochemicals, natural gas, and oil, these valves maintain efficiency, safety, and compliance with environmental standards. They are vital to a sector that is vital to the production of energy and the running of international economies because they regulate the extraction of hydrocarbons, halt leaks, and distribute refined goods. Industrial valves are used by the chemicals industry to control the numerous and often corrosive chemicals used in manufacturing and processing. In this industry, valves are able to tolerate difficult conditions and maintain precise control in order to ensure the quality of the product, worker safety, and environmental protection. Additionally vital to the energy and electrical industries are industrial valves, especially in power plants. Nuclear, thermal, and renewable energy power plants depend on these valves to control the flow of water, steam, and other fluids. The energy sector's shift to cleaner, more efficient technologies, such natural gas and renewable energy, has created new markets for advanced valve solutions. In addition, the waste and wastewater treatment sector accounts for a sizeable portion of the industrial valve market. In this industry, valves are necessary to control the flow of potable water, sewage, and industrial effluents. They support the preservation of the environment and public health by assisting in the safe and effective distribution and treatment of water as well as the appropriate handling of trash.

Considered in this report:

• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• North America Industrial Valves market Outlook with its value and forecast along with its segments
• Country-wise Industrial Valves market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• United States
• Canada
• Mexico

By Type:

• Globe Valve
• Ball Valve
• Butterfly Valve
• Gate Valve
• Check Valve
• Pressure Relief Valve
• Plug Valve
• Needle Valve
• Pinch Valve
• Diaphragm Valve
• Others

By Materials:

• Steel
• Cast Iron
• Alloy based
• Others

By Application:

• Water & Wastewater
• Oil & Gas
• Energy & Power/ Utilities
• Chemical
• Food & Beverages
• Pharmaceuticals
• Agriculture
• Others (automotive, marine, metals & mining ,construction, pulp & paper)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Industrial Valves industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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