Global Industrial Valve Market
Global Industrial Valve Market By Valve Type (Gate, Globe, Ball, Butterfly, Plug, Check, Safety Relief, Other Customized), By Valve Material(Cast Steel, Carbon Steel, Stainless Steel, Bronze, Others) By Function (Manual, Automatic), By End User (Water & Wastewater Treatment, Chemicals, Power Plants, Paper & Pulp, Oil and Gas, Others) And By Geography – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2020 to 2032
The Global Industrial Valve Market was valued at $82.8 Billion in 2023 and is anticipated to grow at a CAGR of 5.02% from 2024 to 2034. This growth is attributed to several macro and microeconomic factors such as
Growth in Energy and Power Generation SectorsThe growth in energy and power generation sectors is a significant driving factor for the global industrial valve market. As the demand for electricity and other forms of energy continues to rise, there is a corresponding increase in the construction and operation of power plants, refineries, and other energy infrastructure projects. Industrial valves play a critical role in controlling the flow of fluids and gases within these facilities, ensuring safe and efficient operations. The expansion of renewable energy sources, such as wind and solar power, also contributes to the demand for specialized valves designed to withstand harsh environmental conditions and handle the specific requirements of these technologies.
Further several factors restraining the market growth include
High Initial Cost of Advanced Valve TechnologiesOne of the significant challenges hindering the widespread adoption of advanced valve technologies is their high initial cost. These technologies, such as smart valves, automated control valves, and specialized materials, offer numerous benefits, including improved efficiency, reduced maintenance costs, and enhanced safety. However, the development and production of these advanced valves require substantial investments in research and development, specialized manufacturing processes, and high-quality materials. As a result, the initial purchase cost of these valves can be significantly higher than traditional valves. This higher upfront cost can be a deterrent for industries with tight budgets or those operating in cost-sensitive markets, limiting the adoption of these advanced technologies.
Increasing Demand for Water and Wastewater Management Solutions and collaborations and alliances in the Industrial Valve market are expected to generate higher avenues during the forecast period.In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Industrial Valve market. The pandemic has caused a decline in new orders and a corresponding decrease in Valve Typeion.
This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Industrial Valve.
In terms of COVID-19 impact, the Industrial Valve market report also includes the following data points:Impact on Industrial Valve market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Outdoor Policies
Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the Industrial Valve market
Key Insight in the report:The global Industrial Valve market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and End Users.
Our report covers extensive competitive intelligence which includes the following data points:Business Overview
Business Segment Data
Financial Data
Valve Type Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis
Industrial Valve Market Segmentation:Valve Type
Gate
Globe
Ball
Butterfly
Plug
Check
Safety Relief
Other Customized
Belt Valve Type
Cast Steel
Carbon Steel
Stainless Steel
Bronze
Others
Function
Manual
Automatic
End User
Water & Wastewater Treatment
Chemicals
Power Plants
Paper & Pulp
Oil and Gas
Others
Region/ Countries Covered:North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
BeNeLux
Russia
Rest of Europe
Asia Pacific
China
Japan
Australia
India
South Korea
Malaysia
Thailand
Indonesia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East & Africa
Key Players Analyzed in the Report:GE Company
Emerson
KITZ Corporation
Oilwell Varco, Inc
Neway Valves
AVK Group
Flowserve Corporation
Weir Group Inc.
Schlumberger Limited
CURTISS-WRIGHT CORP