Middle East & Africa Industrial Valve Market Forecast to 2028-Regional Analysis by Material Type (Cast Iron, Steel, Cryogenic, Alloy-based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Piston RAM Valves, Gate Valves, and Control Valves), and Industry (Oil & Gas and Chemicals & Petrochemical)
The Middle East & Africa industrial valve market is expected to grow from US$ 2,349.78 million in 2023 to US$ 2,776.10 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2023 to 2028.
Rising Preference for Large Valves
Over the years, several companies operating in the Middle East & Africa industrial valve market have been focused on small valves. However, several other industries have showcased a rise in demand for large valves owing to the installation of large pipelines, as they offer higher flexibility compared to small valves. This has influenced the global industry valve market players to focus on new product development and strategic partnerships with clients to deliver products as per customer needs. For instance, in May 2022, Neway Valve announced its partnership with an anonymous oil company to supply gate valves of 88 inches and 72 inches. These valves are experiencing a rise in demand across various oil & gas companies owing to their high anti-leak features. Similarly, in February 2023, ARMATURY Group a.s. supplied 60 pieces of 43.5 inches gate valves to Gaz System for its Gustorzyn-Wronów-Dolna Odra project. Thus, the rising demand for large gate valves across industries is expected to offer lucrative business opportunities to the Middle East & Africa industry valve market players over the forecast period.
Middle East & Africa Industrial Valve Market OverviewBased on country, the industrial valve market in the Middle East & Africa (MEA) is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The growing desalination business across the region due to constantly rising urbanization drives the regional market growth. Rising oil & gas business in northern Africa and the growing nuclear & renewable energy sectors are expected to fuel the industrial valve market in the Middle East & Africa during the forecast period. Water and wastewater applications across the Middle East & Africa and the petrochemical industry in the chemical industry are expected to boost the industrial valve market growth in the future.
Middle East & Africa Industrial Valve Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Industrial Valve Market SegmentationThe Middle East & Africa industrial valve market is segmented based on material type, valve type, industry, and country. Based on material type, the Middle East & Africa industrial valve market is segmented into cast iron, steel, cryogenic, alloy-based, and others. The steel segment held the largest market share in 2023.
Based on valve type, the Middle East & Africa industrial valve market is segmented into ball valves, butterfly valves, diaphragm valves, safety valves, piston ram valves, gate valves, and control valves. The ball valves segment held the largest market share in 2023.
Based on industry, the Middle East & Africa industrial valve market is bifurcated into oil & gas and chemicals & petrochemical. The oil & gas segment held a larger market share in 2023.
Based on country, the Middle East & Africa industrial valve market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa industrial valve market share in 2023.
Velan Inc.; Crane Co.; Circor International Inc.; Flowserve Corp; Emerson Electric Co.; KITZ Corporation; Neway Valve (Suzhou) Co., Ltd; Spirax Sarco Engineering Plc; Schlumberger Ltd; and Weir Group PLC are the leading companies operating in the Middle East & Africa industrial valve market.
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