Industrial Valves Market to Grow at a CAGR of 4.96% during the forecasted period 2023-2028
Adoption of Smart Valves Control Systems & rising of the
industrial sector in the nations are driving
the Global Industrial Valves Market.
According to TechSci
Research report, “Global Industrial Valves Market
- By Region, Competition, Forecast & Opportunities, 2028”. The current investments and trend of
polymer technologies in industries are expected to drive the market growth of
industrial valves in the upcoming years, leading to an expected healthy
expansion of the industrial valves market.
Industrial valves are devices for
controlling the flow of gases, liquids, and slurries. You may use these valves
to regulate the flow of gases or liquids. To do this, pipes and other routes
can be partially blocked, closed, and opened. The flow and pressure inside a
system or process are controlled by valves, which are essentially mechanical
devices. Every pipe system
that transports liquids, gases, vapors, slurries, etc. must include them as
vital components. Authorities today must put up a lot of effort to provide
residents with a variety of services. As a result, the valves sector has
significant development potential. Across the globe, governments are spending
more to give every household necessity like gas and clean water. To deliver fresh water, new water
treatment plants are being built. Gas delivery to both residential and
non-residential properties is now possible with the introduction of many new
pipeline projects. Industrial valves are more frequently employed to control
the flow of gas through distribution systems. To accommodate this rise in
demand, the government and major oil and gas businesses are searching for
additional reservoirs. In turn, it will help the nation's market for industrial
valves to expand. The need for industrial pumps and other enhanced regulating devices
is also increasing because of the government and other businesses establishing
numerous new power-producing facilities.
Based on valve type, the globe valve is the
leading segment in the global industrial valves market with a market share of
21.4% in 2022 and followed by the Ball Value with a market share of 20.45% in
2022. The Globe Valve is in the lead because it is the most widely used
industrial valve and permits fluid circulation during a process. With the
primary purposes of halting, beginning, and controlling flow, its flexibility
is a crucial component in the market for industrial expansion and linear motion
valves. The discs of a globe valve could totally seal or completely obstruct
the flow route. The cooling water, fuel oil, feedwater, chemical feed, condenser air extraction, and
drain systems are the most typical applications for Globe valves. That flow
needs to be managed by substantial applications in cooling water systems. Since
the discs and seats are easily replaceable or repaired, the leading valve
requires minimal care. Therefore, globe valves are appropriate for applications
that require frequent valve maintenance, and they are widely employed to
control flow. The flow control pressure drop range needs to be considered while
designing the valve to avoid early failure and offer adequate service. Valve
trim must be developed for optimal high-differential pressure throttling.
Browse over 167 market data Figures spread through 221 Pages and an in-depth TOC on the "Global Industrial Valve Market"
In terms of regional analysis, the global industrial valves Market
is segmented into North America, South America, the Middle East & Africa,
Asia- Pacific & Europe. Asia Pacific region leads the industrial valve with
a market share of 36.71% in 2022 and followed by Europe with a market share of
23.02% in 2022. The industrial valve market offers attractive potential in the
Asia Pacific Region, which is home to the majority of emerging nations like
India, Vietnam, Indonesia, and others. China is investing heavily in
coal-to-liquid technologies throughout Asia-Pacific. The need for industrial
valves in the area is rising because of processes like carbon sequestration,
shale gas advancements, and the development of several coal-fired facilities in
China. Developing nations like China and India are growing their power capacity
to meet the rising demand for energy. Nuclear power facilities in the area also
employ industrial valves in addition to electricity plants. Large local
government investment in the pharmaceutical, healthcare, life sciences and
biotechnology industries has also contributed to the growth of Asia's
biopharmaceutical companies. The need for industrial valves is expected to
increase as a result of these expectations for industrial expansion, which is
expected to substantially fuel market growth.
Using thermoplastics
and polymer technologies to manufacture valves, especially butterfly valves, is
a recent trend that is catching hold all around the world. Customers all over
the world desire valves that can offer high-strength mechanical qualities and
are well-suited to activities involving water. As a result, the production of
technologically superior valves is a focus for valve manufacturers worldwide.
This market is expected to expand throughout the projected period.
Key market players in the
global industrial valve market include:
- Emerson Electric Co.
- Flowserve Corporation
- Alfa Laval Corporate AB
- Crane Co
- IMI Plc
- Schlumberger N.V. (Schlumberger
Limited)
- Baker Hughes Company
- MRC Global Inc.
- KITZ Corporation
- The Weir Group PLC
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“Global industrial valve installation is anticipated to increase as a
result of investments in pipeline infrastructure for downstream applications in
the oil and gas industry. Additionally, it is anticipated that rising
healthcare device output and pharmaceutical sector R&D expenditures would
boost the market for industrial valves. Therefore, these factors are fuelling
the market growth of the Global
Industrial Valves Market in the upcoming years”, Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting organization.
“Global Industrial Valves Market
By Valve Type (Globe
Valves, Ball Valves, Butterfly Valves, Wedge Gate Valves, Knife Gate Valves, Check
Valves, Diaphragm Valves, Pinch Valves, Float Valves, Air Valves, Automatic
Control Valves, Resilient Seal Gate Valves, Others), By Material Type (Cast
Iron, Steel, Cryogenic, Alloy Based, Others), By Application (Oil & Gas,
Refinery, Chemical, Water, Wastewater Effluent, Power Generation, Agriculture,
Mining, Others), By Product (Quarter turn Valve, Multi turn Valve, Others) By Region, Competition, Forecast &
Opportunities, 2028”, has
evaluated the future growth potential of Global Industrial Valve Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Industrial
Valve Market.
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