Industrial Valve Market Size - By Type (Ball Valves, Check Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Diaphragm Valves, Safety Valves), By Material, By Component, By Size, By End Use, By Distribution Channel & Forecast, 2024 - 2032

Industrial Valve Market Size - By Type (Ball Valves, Check Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Diaphragm Valves, Safety Valves), By Material, By Component, By Size, By End Use, By Distribution Channel & Forecast, 2024 - 2032

Industrial Valve Market size is poised to expand at over 6.2% CAGR from 2024-2032 driven by the expansion of oil & gas exploration and production activities worldwide.

Of late, the demand for valves in drilling, refining, and distribution processes has significantly spiked. To that end, industry players are strategically focusing on emerging markets with burgeoning industrial growth, such as Asia Pacific, Latin America, and Africa to expand their product offerings and customer base. For instance, in February 2024, Armour Valve partnered with CMO Valves, allowing the firm to provide CMO's world-class products and services directly to Canadian sectors, including mining, cement, industrial water wastewater, and pulp & paper. Furthermore, the rising investments in these regions coupled with the need for reliable valve solutions in the energy sector are likely to create lucrative opportunities, thereby augmenting the industry outlook.

The industrial valve industry is segmented into type, material, component, size, end-use, distribution channel, and region.

Based on type, the market size from the safety valves segment is projected to record 8.8% CAGR up to 2032. Safety valves have emerged as critical components to ensure the safe operation of industrial processes by relieving excess pressure and preventing potential hazards. The strong focus on safety and regulatory compliance in various industries, such as oil & gas, chemical, and power generation is propelling the demand for safety valves. Stringent safety standards and regulations for mandating the installation of reliable safety valves, will further fuel the product demand.

In terms of end use, the industrial valve industry from the chemical segment generated considerable revenue in 2023 and is anticipated to witness 4.1% CAGR through 2032 attributed to the implementation of stringent quality requirements. The chemical industry relies heavily on industrial valves for precise control of fluids, gases, and chemicals in various processes, such as mixing, blending, and refining. The ongoing expansion of the chemical industry globally, particularly in regions like North America, Europe, and Asia Pacific, is also likely to boost the use of high-performance valves across many chemical companies.

Given the regional landscape, the Asia Pacific industrial valve industry is set to expand at a 7.7% CAGR between 2024 and 2032 driven by rapid industrialization and infrastructure development. The booming manufacturing, oil & gas, and water treatment sectors in countries like China, India, and Japan will fuel the demand for industrial valves. Furthermore, the focus on environmental regulations and water conservation along with heavy investments in oil & gas exploration, pipeline projects, and power generation facilities will provide ample growth opportunities to the industry players, propelling the regional market growth. For instance, Valve World Expo India will launch its inaugural edition dedicated to industrial valves and valve accessories in Mumbai, India in September 2024.