Oil and Gas Valves Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Check Valve, Gate Valve, Ball Valve, Butterfly Valve, Globe Valve, Pressure Relief Valve, Others), By Body Material (Cast, Forged), By Size (Below 10 Inch, 10 to 20 Inch, Above 20 Inch), By Region, Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 12.73 Billion
CAGR (2026-2031)	4.06%
Fastest Growing Segment	10 to 20 Inch
Largest Market	North America
Market Size (2031)	USD 16.16 Billion

Market Overview

The Global Oil and Gas Valves Market will grow from USD 12.73 Billion in 2025 to USD 16.16 Billion by 2031 at a 4.06% CAGR. Oil and gas valves are critical mechanical devices engineered to regulate, isolate, and control the flow of fluids across upstream extraction, midstream transportation, and downstream refining operations. The market is primarily driven by escalating global energy demand, which necessitates the continuous expansion of pipeline infrastructure and the development of new exploration projects. Furthermore, the imperative to modernize aging facilities to ensure operational safety and regulatory compliance significantly bolsters the procurement of these essential components, distinct from temporary market trends.

The industry faces a substantial challenge regarding the global energy transition and decarbonization mandates, which create uncertainty around long-term fossil fuel investments and may delay capital expenditure. This complex market landscape is reflected in recent performance data from key manufacturing sectors. According to VDMA, in 2024, the industrial valves sector recorded a nominal sales growth of 6 percent, underscoring the resilience of international demand despite broader economic volatility.

Key Market Drivers

Increasing global energy demand is driving a resurgence in upstream exploration and production, necessitating substantial procurement of high-pressure valves for extraction environments. As operators expand into deeper waters and complex reservoirs to secure reserves, the capital expenditure on wellhead, isolation, and control infrastructure has risen, directly correlating with market growth. This influx of capital facilitates the deployment of specialized valves essential for managing flow rates and maintaining safety in harsh operating conditions. According to the International Energy Agency, June 2024, in the 'World Energy Investment 2024' report, global upstream oil and gas investment is projected to increase by 7 percent to reach USD 570 billion in 2024.

The surge in Liquefied Natural Gas (LNG) transport and regasification projects acts as a secondary but equally potent catalyst for valve demand, particularly for cryogenic and safety relief components. The geopolitical shift toward diversifying energy supplies has accelerated the construction of liquefaction terminals and receiving infrastructure globally, requiring extensive valve networks for processing and storage. According to the International Gas Union, June 2024, in the 'World LNG Report 2024', global LNG receiving capacity increased by 69.7 million tonnes per annum in 2023, representing the highest annual addition since 2010. These capacity additions rely on sustained consumption trends; according to the Organization of the Petroleum Exporting Countries, in July 2024, world oil demand was forecast to grow by 2.25 million barrels per day for the year, underscoring the operational volume that drives continuous valve maintenance and replacement cycles.

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Key Market Challenges

The global energy transition and decarbonization mandates impose significant constraints on the oil and gas valves market by introducing uncertainty into long-term investment planning. As governments and environmental bodies enforce stricter emissions targets, energy companies face increasing pressure to divert capital away from traditional hydrocarbon projects. This regulatory environment causes operators to delay or cancel the Final Investment Decision (FID) on large-scale upstream and midstream infrastructure projects. Consequently, the procurement pipelines for essential flow control equipment are disrupted, leading to reduced order volumes for valves required in extraction and transportation.

This hesitation to commit to fossil fuel-heavy assets results in a visible diversion of financial resources. With capital allocation shifting toward renewables, the budget available for upgrading aging oil and gas facilities or initiating new exploration shrinks. According to the International Energy Agency, in 2024, global investment in clean energy technologies reached double the amount spent on fossil fuels. This disparity highlights a contraction in the available capital expenditure for traditional energy sectors, directly limiting the growth opportunities for valve manufacturers reliant on sustained oil and gas infrastructure spending.

Key Market Trends

The implementation of low-fugitive emission designs for net-zero compliance is reshaping product development as manufacturers engineer valves with superior sealing capabilities to mitigate methane leaks. Regulatory bodies are intensifying scrutiny on fugitive emissions, compelling operators to replace legacy equipment with advanced packing systems and bellow-sealed valves that exceed standard tightness classes. This technical shift mandates rigorous testing to meet environmental benchmarks, forcing the retirement of outdated components that cannot contain volatile organic compounds effectively. According to the U.S. Environmental Protection Agency, December 2023, in the 'Final Rule to Reduce Methane and Other Pollution from Oil and Natural Gas Operations' fact sheet, the newly adopted standards are projected to prevent an estimated 58 million tons of methane emissions from 2024 to 2038, accelerating the retrofit of compliant valve infrastructure.

The integration of IIoT-enabled smart valve technologies is transforming maintenance strategies from reactive to predictive, allowing operators to monitor asset health in real-time through digital twins. By embedding sensors that track vibration and temperature, these systems identify potential failures before they cause costly unplanned downtime, optimizing operational expenditure. This digital evolution is gaining commercial traction as energy companies prioritize reliability and software-defined automation over simple capacity expansion. According to Flowserve Corporation, February 2024, in the '2023 Annual Report', bookings under the company's Diversification, Decarbonization and Digitization strategy represented nearly one-third of total bookings in 2023, driven significantly by the steady expansion of remote monitoring and IoT solutions.

Segmental Insights

The 10 to 20 Inch segment is emerging as the fastest-growing category in the Global Oil and Gas Valves Market, fueled by the accelerating expansion of midstream infrastructure. This valve size is indispensable for gathering lines and regional transmission networks that connect production fields to refineries. Market trends indicate that the demand is heavily supported by new pipeline projects aimed at enhancing energy security. Data on infrastructure growth from the U.S. Energy Information Administration corroborates this upward trajectory, prompting manufacturers to focus on this versatile dimension to accommodate increasing global distribution requirements.

Regional Insights

North America holds the leading position in the global oil and gas valves market, driven largely by extensive exploration and production activities within the United States. The region benefits from significant investments in shale gas extraction and the continuous expansion of pipeline infrastructure to support energy transport. Furthermore, stringent mandates from the U.S. Environmental Protection Agency regarding fugitive emissions compel companies to adopt compliant valve technologies to minimize environmental impact. This combination of established resource extraction projects and rigorous regulatory compliance ensures sustained demand for industrial valves across the North American energy sector.

Recent Developments

• In October 2024, Flowserve Corporation completed the acquisition of MOGAS Industries for a total consideration of approximately $305 million. This strategic transaction integrated a privately held provider of mission-critical severe service valves into Flowserve’s Flow Control Division. The acquisition was intended to significantly expand the company's severe service portfolio and aftermarket capabilities, particularly within the mining, mineral extraction, and process industries. By leveraging the acquired entity's large installed base and technical expertise, Flowserve aimed to accelerate its growth strategy and enhance its offerings for customers operating in the most challenging environments of the energy sector.
• In October 2024, Baker Hughes delivered advanced Masoneilan valve systems to the first two operational residual hydrocrackers in India. The delivery included Masoneilan 74000 Series Heavy Oil Process valves, which featured specialized ceramic trim designed to withstand the extreme conditions of severe service high-pressure and low-pressure letdown processes. These components were essential for converting heavy materials into valuable hydrocarbons at major refinery complexes. The successful deployment highlighted the company’s capability to provide specialized, plug-and-play valve solutions that ensure safe and efficient hydrocracking performance in the downstream oil and gas market.
• In August 2024, IMI Critical Engineering unveiled a new Fractionator Inlet Valve design aimed at improving safety and operational efficiency in major refineries. Developed through close collaboration with industry partners, this engineering innovation allowed refineries to isolate the reactor and main column during turnaround procedures without the need to remove large rings or install plated blinds. The solution enabled a significant reduction in the time required to bring a refinery back online, potentially saving up to 12 hours compared to traditional methods. This development addressed critical safety risks associated with fluid catalytic cracking units by minimizing personnel exposure to high-temperature hydrocarbons.
• In April 2024, Emerson launched the ASCO Series 148/149 safety valve and motorized actuator, a solution specifically engineered for industrial fuel oil burner recirculation and safety shutoff applications. This new product was designed to enhance safety and reliability by preventing overpressure, leaks, and system malfunctions in critical combustion systems. The valve and actuator combination offered a compact, high-flow design capable of achieving rapid fuel line shutoff in less than one second. The system met the rigorous requirements of UL, FM, and CSA certifications, making it a robust option for harsh operating environments within the global energy and manufacturing sectors.

Key Market Players

• Baker Hughes
• CIRCOR International, Inc.
• Dwyer Instruments, Inc.
• Emerson Electric Co.
• Flowserve Corporation
• Metso Corporation
• National Oilwell Varco
• Parker-Hannifin Corporation
• Schlumberger Limited
• Weir Group PLC

By Product Type	By Body Material	By Size	By Region
Check Valve Gate Valve Ball Valve Butterfly Valve Globe Valve Pressure Relief Valve Others	Cast Forged	Below 10 Inch 10 to 20 Inch Above 20 Inch	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Oil and Gas Valves Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Oil and Gas Valves Market, By Product Type:

• Check Valve
• Gate Valve
• Ball Valve
• Butterfly Valve
• Globe Valve
• Pressure Relief Valve
• Others

• Oil and Gas Valves Market, By Body Material:

• Cast
• Forged

• Oil and Gas Valves Market, By Size:

• Below 10 Inch
• 10 to 20 Inch
• Above 20 Inch

• Oil and Gas Valves Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE