North America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Material (Cast Iron, Steel, Cryogenic, Alloy-based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Piston RAM Valve

North America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Material (Cast Iron, Steel, Cryogenic, Alloy-based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Piston RAM Valves, Control Valves, and Gate Valves), Ball Valve (Trunnion-mounted, Floating, and Rising Stem), and End User (Oil & Gas, Chemicals & Petrochemicals, Food & Beverages, Water Treatment, and Others)

The North America industrial valve market is expected to grow from US$ 22.0 billion in 2022 to US$ 27.4 billion by 2028; it is estimated to grow at a CAGR of 3.8% from 2023 to 2028.

The growing use of industrial valves in various industries such as oil and gas, water and wastewater management, and chemical is encouraging the market players to expand their manufacturing and distribution facilities. Hence, the companies are working on various strategic alliances, such as contracts, partnerships, collaborations, and mergers and acquisitions, to enhance their product portfolio and expand their market presence. A few of such strategic alliances by the companies are mentioned below:

In September 2020, Industrial Valco announced the acquisition of Beric Valves, a producer of the globe, cast and forged steel gate, check, and ball valves for the US and its territories. Through this acquisition, Industrial Valco can provide high-quality valves at competitive prices.
In January 2021, Anvil and Smith-Cooper International announced the acquisition of the ABZ and Quadrant Valve brands from Forum Energy Technologies, Inc. Quadrant is a provider of patented, quarter-turn specialty ball and butterfly valves to the chemical, petrochemical, and upstream energy markets. The acquisition will help enhance Anvil and Smith-Cooper International's flow control portfolio.
In April 2022, ITT Inc. announced the acquisition of Habonim, an Israel-based manufacturer of ball valves and actuation technologies for harsh applications. Habonim’s offering of ball valves, particularly for extreme applications, will help ITT Inc. to drive stronger sales growth for industrial processes.
In March 2022, In Mind Cloud announced that it had entered into a five-year strategic partnership with VAG, an international valve manufacturer. Under this partnership, In Mind Cloud will continue to help VAG in its sales operations of industrial valves for the water and wastewater sector.
In January 2023, Oliver Valves announced that it had secured a 3-year contract to supply valves to the Kaybob Duvernay project in North America.

Thus, through the above-mentioned contracts, partnerships, mergers, and acquisitions, the companies are expanding their product portfolio and global presence, boosting the growth of the North America industrial valve market.

The North America industrial valve market is segmented into material, valve type, ball valve, vertical, and country. Based on material, the market is segmented into cast iron, steel, cryogenic, alloy-based, and others. Based on valve type, the North America industrial valve market size is bifurcated into ball valves, butterfly valves, diaphragm valves, safety valves, piston RAM valves, control valves, and gate valves. Based on ball valve, the North America industrial valve market size is segmented into trunnion-mounted, floating, and rising stem. Based on end user, the North America industrial valve market is categorized into oil & gas, chemicals & petrochemicals, food & beverages, water treatment, and others. Based on country, the North America industrial valve market is segmented into the US, Canada, and Mexico.

CRANE CO., Flowserve Corporation, Emerson Electric Co., CIRCOR INTERNATIONAL, SPIRAX SARCO, SCHLUMBERGER LIMITED, Velan Inc., The Weir Group PLC, Frontier Valve International, and FITOK Group are the key North America industrial valve market players profiled in the report. Several other essential North America industrial valve market players were analyzed for a holistic view of the market and its ecosystem.

Impact of COVID-19 Pandemic on North America Industrial Valve Market

In 2020, Travel bans, mass lockdowns, and business shutdowns affected economies and countless industries in various countries in the region. Owing to these impositions, various crude oil and chemical production facilities and industrial valve manufacturing plants were temporarily shut down to decelerate the spread of SARS-CoV-2 through human interactions. These activities significantly hampered the North America industrial valve market in 2020. However, in Q1 of 2021, with the restart of manufacturing activities, the companies restarted developing the innovative products. In November 2021, Rusco, a water filtration firm, launched a new ball valve that can be controlled using an app. It can be easily paired with Apple and Android devices for program automation, which simplifies two primary functions: sediment flushing and flow shut-off.

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