Gate Valve Market Analysis and Forecast to 2031: By Valve Type (Flexible Wedge, Solid Wedge, Split Wedge or Parallel Disks Valve), Material Type (Cast Iron, Steel, Alloys), Application (Oil & Gas, Water & Wastewater Treatment, Chemical, Others), and Regio

Gate Valve Market Analysis and Forecast to 2031: By Valve Type (Flexible Wedge, Solid Wedge, Split Wedge or Parallel Disks Valve), Material Type (Cast Iron, Steel, Alloys), Application (Oil & Gas, Water & Wastewater Treatment, Chemical, Others), and Region

The global gate valve market was valued at US$ 9.2 billion in 2021 and it is anticipated to grow up to US$ 14.5 billion by 2031, at a CAGR of 4.6% during the forecast period.

A gate valve is a mechanical device that closes and opens or partly obstructs multiple entrances to control or regulate fluid flow (liquid or gas). Gate valves are commonly used in municipal applications to restrict the water flow for residential uses. These valves are also used in industries such as oil & gas and chemicals to accomplish critical functions related to fluids. Flexible wedge, solid wedge, split wedge, and parallel disc valves are among the type of gate valves employed in these industries. They can operate manually with the help of levers or other devices or automatically by using sensors and programming.

Market Drivers and Trends

In the oil & gas sector, gate valves have widespread applications in upstream, middle, and downstream operations. These valves employ a gate mechanism to open or close a pipeline completely. They provide an apt solution for the regulation and maintenance of flow rates. Thus, with the flourishing oil & gas sector worldwide, the gate valves market will likely keep up its pace during the forecast period.

According to research findings, the global energy demand is expected to increase by 50% over the next two decades. This projected surge in demand is mainly attributed to the expanding population worldwide and rising living standards in emerging countries. Despite the burgeoning popularity of new and renewable energy sources, petroleum remains a key energy source. New refineries are being planned at several locations across the world. Thus, the flourishing oil and gas sector contributes to the gate valve market proliferation.

Market Restraints and Challenges

Increasing volatility in raw material prices and the high maintenance cost of gate valves are anticipated to hinder market growth during the forecast period. Growing volatility in raw material prices influences the ability of manufacturers to produce gate valves based on specific requirements. However, companies are increasing investment in research and development for cost-effective technology to reduce the cost of gate valves.

Global Gate Valve Market Segmental Overview

The report analyses the global gate valve market based on valve type, material type, application, and region.

Global Gate Valve Market by Valve Type

Based on valve type, it is segmented into flexible wedge, solid wedge, and split wedge or parallel disks valve. The solid wedge segment is expected to have the largest gate valve market share in 2021. The solid wedge is the most popular and commonly utilized disc type because of its simplicity and strength. A one-piece solid disc with a cut around the perimeter makes up the flexible wedge; the size, shape, and depth of these cuts vary. Furthermore, the split wedge disk comprises two solid sections held together by a specific mechanism. Thus, the solid wedge segment is expected to receive the main market attraction resulting in market growth.

Global Gate Valve Market by Material Type

Based on material type, it is segmented into cast iron, steel, and alloys. The alloys segment is expected to dominate the market during the forecast period. Alloys have excellent machinability and corrosion resistance and are used for relatively small valves in low-pressure service. Due to the abovementioned factor, the alloys segment is expected to dominate the market during the forecast period.

Global Gate Valve Market by Application

Based on application, it is segmented into oil & gas, water & wastewater treatment, chemical, and others. The oil & gas segment is expected to be the largest segment in the gate valve market in 2021. For extraction and processing of crude and gas are mostly done using pipelines, valves are utilized to regulate the flow of oil and gas. Moreover, these resources are found in a limited geographic location and utilized across the globe. The distribution of these is done using pipelines. Thus, as industrialization is growing at a steady rate across the globe, the demand for oil and gas is also increasing. Several oil-producing countries are increasing oil production. Thus, the oil & gas segment will likely hold a major market share in 2021.

Geographical Analysis of Global Gate Valve Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021. The need for gate valves in Asia is driven by the growing industrialization in most emerging economies. Over the predicted period, gate valve usage is expected to increase significantly. China, along with other Asian countries, is the largest buyer of industrial valves, especially gate valves. Moreover, several municipal projects and government efforts for infrastructural development are expected to drive the Asia Pacific gate valve market throughout the forecast period. This, in turn, boosts the demand for gate valve in the Asia Pacific region.

Major Players in the Global Gate Valve Market

COVID-19 Impact

In 2020, the COVID-19 pandemic resulted in economic challenges owing to subsequent lockdowns. In 2020, the manufacturing industry was severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities had limited the expenditure on the production of gate valves worldwide. Thus, the COVID-19 pandemic negatively affected the global gate valve market in 2020.

However, in 2021, the manufacturing industry started recovering from the significant labor and supply chain challenges that triggered the production of gate valves.

Recent Developments

• March 2022, Econosto Oy delivers high-quality valves, safety devices, regulators, level gauges and steam traps for the needs of shipyards, municipal engineering, industry and power plants. The company prioritizes perseverance, reliability and persistence in its operations.
• April 2021, Emerson had launched the new Clarkson KS1 Knife Gate Valve designed to help mine, oil sands, and pulp & paper operators achieve increased availability of their most challenging slurry processes. Emerson's Clarkson KS1 Knife Gate Valve is a true bi-directional, full bore, ASME Class 150 valve designed for the rigors of heavy slurry service. Its advanced, patented sealing system delivers zero-leakage isolation for longer, enabling increased run time and throughput.

Frequently Asked QuestionsQ1. How big is the gate valve market?Ans. The global gate valve market size was US$ 9.2 billion in 2021 and is anticipated to reach US$ 14.5 billion in 2031, growing at a rate of 4.6% from 2022 to 2031.Q2. What is the gate valve market growth rate?Ans. The growth rate of the gate valve market is 4.6% from 2022 to 2031.Q3. Which region holds a major market share for the gate valve market?Ans. Asia Pacific holds a major market share of the gate valve market in 2021.Q4. Which segment accounted for the largest gate valve market share?Ans. Based on valve type, it is segmented into flexible wedge, solid wedge, and split wedge or parallel disks valve. The solid wedge segment is expected to have the largest gate valve market share in 2021.Q5. Who are the key players in the gate valve market?Q6. What are the factors driving the gate valve market growth?Ans. The major factor driving the growth of the market is surging growth in oil & gas sector.Q7. What are the key growth strategies of gate valve market players?Ans. The key growth strategies of gate valve market players are product launch, partnerships, and government initiatives.Q8. Which region will provide more business opportunities for the gate valve market during the forecast period?Ans. The Asia Pacific region will provide more business opportunities for the gate valve market during the forecast period.

Please Note: This report will be delivered by publisher within 3-4 business days of order confirmation. Show more