Middle East and Africa Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Cast Iron, Steel, Cryogenic, Alloy-Based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, an

Middle East and Africa Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Cast Iron, Steel, Cryogenic, Alloy-Based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, and Piston RAM Valves), and Industries (Oil and Gas, Water Treatment, Power and Energy, Chemicals and Petrochemical, Food and Beverage, Healthcare and Pharmaceutical, and Others)

The MEA industrial valve market is expected to grow from US$ 2,931.14 million in 2021 to US$ 3,849.32 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028.

Continuous advancements in microprocessor processing capabilities and high-speed connectivity technologies have paved the way for the wide-scale deployment of the Internet of Things (Io T) among other modern technologies. With the growing emphasis on digitalization and automation the value chain among manufacturers for achieving high efficiency and productivity is leading industrial valve market players to offer Io T- ready industrial valves. For instance, Belimo Energy Valve, a product of BELIMO Holding AG, offers easy access to valuable data and control of the valves such as measure flow, monitor the current energy consumption, controlling valve position, flow, or the thermal power with the help of Modbus, MP-Bus, BACnet, or Io T connectivity. Further, smart valves are capable of monitoring their health and can predict any forthcoming adversities in their operations. An ideal smart valve is offered with an integrated battery backup, a small solar panel, Wi-Fi connectivity, and a dedicated remote control feature. In water supply applications, the authorized users receive SMS when the valve cuts the water supply. Continuous progress in smart cities projects across the region is anticipated to create demand for smart industrial valves for monitoring and controlling the utility lines, thereby driving the MEA industrial valve market growth during the forecast period.

Countries in MEA, especially South Africa, are highly affected due to the COVID-19 outbreak. The majority of economic operations in the region were suspended due to an increase in the number of COVID-19 cases. Many countries in Africa are still in the developing phase. Countries in the Middle East, especially the GCC (Gulf Cooperation Council) countries, witnessed a notable decline in the oil & gas sector due to a sharp decline in the demand for oil from major end-user countries across Asia, Europe, and North America. As a result, countries in MEA registered a lowered volume of oil & gas production and low storage and transportation of natural gas, which subsequently hampered the demand for cryogenic valves in the region. The MEA Countries, such as Saudi Arabia, the UAE, Qatar, and selected other OPEC countries, also observed similar trends during the first two quarters of 2020. However, the countries are expected to overcome the swift drop in demand as the prominent end user of oil & gas continue to open their economic activities, and oil & gas prices start to recover. Moreover, end users in the region are very dependent on international suppliers and experienced significant supply chain disruption during Q2 of 2020. However, with the beginning of Q3 of 2020, the demand for various manufacturing products, including industrial valves, started increasing among the end-users due to the operations' re-initiation.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Thus, the MEA industrial valve market is expected to grow at a good CAGR during the forecast period.

MEA Industrial Valve Market Revenue and Forecast to 2028 (US$ Million)

MEA Industrial Valve Market Segmentation

MEA Industrial Valve Market - by Material Type

Cast Iron Steel Cryogenic Alloy-Based Others

MEA Industrial Valve Market - by Valve Type

Ball Valves Butterfly Valves Diaphragm Valves Safety Valves Piston RAM Valves MEA Industrial Valve Market - by Industries

Oil and Gas Water Treatment Power and Energy Chemicals and Petrochemical Food and Beverage Healthcare and Pharmaceutical Others MEA Industrial Valve Market - by Country

Saudi Arabia UAE South Africa Rest of MEAMEA Industrial Valve Market - Companies Mentioned

CIRCOR International, Inc. Crane Co. Emerson Electric Co. Flowserve Corporation IMI Critical Engineering KITZ Corporation Neway Valve (Suzhou) Co., Ltd Schlumberger Limited Spirax-Sarco Engineering plc Velan Inc.

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