Industrial Valves Market - Forecast(2024 - 2030)
Industrial Valves Market Overview
The Industrial Valves Market is estimated to reach US$116.3 billion by 2030, growing at a CAGR of 5.6% during the forecast period 2024-2030. Industrial valves are mechanical devices that control the flow and pressure of a fluid within a system or process. It is available in different types such as polypropylene-based valves, cryogenic valves and plug valves. Electrochemical protection is used in valves to prevent corrosion. The widespread adaptation of industrial valves is ideal for upgrading production lines with customized features to increase productivity. The chemical industry is widely adopting industrial valves for upgrading pipeline infrastructures. In September 2022, MOOG Inc. launched the X700 Series Servo Cartridge valves that can be used in the industrial electrohydraulic flow control system.
The Industrial Valves Market is experiencing steady growth globally, driven by factors such as rapid industrialization, increasing demand from various sectors, and technological advancements. Valves play a crucial role in regulating the flow of fluids and gases in industrial processes, making them indispensable components across diverse industries like oil and gas, water and wastewater treatment, power generation, chemical, and pharmaceutical. Moreover, adoption of smart valves equipped with sensors and actuators for enhanced monitoring and control, the rising focus on energy efficiency and sustainability, and the emergence of digitalization and IoT-enabled valve solutions for remote monitoring and predictive maintenance are key trends and developments in the Industrial Valves Market. Additionally, there is a growing emphasis on valve customization to meet specific industrial requirements and stringent regulatory standards concerning safety and environmental protection.
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Report Coverage
The “Industrial Valves Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Industrial Valves Market.
By Valve Type: Air Release Valve, Ball Valve, Bleeder Valve, Butterfly Valve, Check Valve, Control Valve, Diaphragm Valve, Gate Valve, Globe Valve, High-Pressure Valve, Mixing Valve, Plug Valve, Pinch Valve, Safety Relief Valve and Others.
By Mechanical Motion: Linear Motion Valve, Multi-turn Valve and Axial Valve.
By Material: Steel valves, Alloy based valves (Cast Iron, Cast Steel, Cast Carbon, Stainless Steel), Cryogenic valves, Polypropylene based valves and Others.
By End-users: Oil and Gas, Power and Utilities, HVAC and Refrigeration systems, Food and Beverages, Agriculture, Pharmaceuticals, Chemical, Water and Wastewater Treatment, Paper & Pulp, Defence and Aerospace and Others.
By Geography: North America (the US, Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain and Others), APAC (China, Japan, South Korea, India, Australia and Others), South America (Brazil, Argentina and Others) and RoW (the Middle East and Africa).
Key Takeaways
? The check valve segment by valve type in the Industrial Valves Market is expected to grow the fastest at a CAGR of 8.5% during the forecast period 2024-2030. The check valve is widely adopted in industries to ensure the safe and continuous functioning of pipelines & HVAC systems in production lines.
? The oil and gas segment by end-users in the Industrial Valves Market is expected to grow the fastest at a CAGR of 8.7% during the forecast period 2024-2030.?
? Asia-Pacific is expected to hold the largest market share of 35% in the market, in terms of revenue, by 2030.?
? The widespread adaptation of Industrial Valves in the pharmaceuticals industry for enhancing the hygiene and safety of production lines is driving the market growth.
Industrial Valves Market Segment Analysis - by Valve Type
The Industrial Valves Market by valve type has been segmented into air release valve, ball valve, bleeder valve, butterfly valve, check valve, control valve, diaphragm valve, gate valve, globe valve, high-pressure valve, mixing valve, plug valve, pinch valve, safety relief valve and others. The check valve segment is expected to grow the fastest at a CAGR of 8.5% from 2024-2030. The check valve is widely adopted in industries to ensure the safe and continuous functioning of pipelines & HVAC systems in production lines. It prevents critical damage to system equipment by stopping process backflow. In August 2022, Webstone, a brand of NIBCO, unveils new spring check products designed to enhance fluid control in industrial applications. The introduction of these innovative valves underscores the industry's ongoing commitment to improving efficiency and reliability in fluid management systems. By offering advanced solutions, Webstone aims to address evolving market demands and reinforce its position as a leading provider of industrial valves.
Industrial Valves Market Segment Analysis - by End-users
The Industrial Valves Market by end-users has been segmented into oil and gas, power and utilities, HVAC and refrigeration systems, food and beverages, agriculture, pharmaceuticals, chemical, water and wastewater treatment, paper & pulp and others. The oil and gas segment is expected to grow the fastest at a CAGR of 8.7% during the forecast period 2024-2030. The large-scale adoption of Industrial valves in the oil and gas sector plays a key role in pipeline infrastructures and establishing reliable control systems to prevent line failure. The oil and gas industries mostly use plug valves. In August 2022, Siemens launched the 6-way ball valve which is designed for use in industrial processes in the oil and gas industry.?
Industrial Valves Market Segment Analysis - by Geography
The Industrial Valves Market by geography is segmented into North America, Europe, APAC, South America and RoW. Asia-Pacific is expected to hold the largest market share of 35%, in terms of revenue, by 2030. This growth trajectory signifies APAC's pivotal role in the global industrial valve landscape, driven by factors like rapid industrialization, infrastructural development, and burgeoning demand across various sectors. According to International Monitory Fund, region has grew by 4.6 percent in 2023, up from 3.9 percent in 2022. As APAC emerges as a key market player, stakeholders are poised to capitalize on lucrative opportunities by aligning strategies with regional dynamics and leveraging innovative solutions to cater to evolving market demands.
Industrial Valves Market Drivers
The high adoption of Industrial valves in the pharmaceuticals industry for enhancing the hygiene and safety of production lines:
Industrial Valves are widely used in the pharmaceutical industry to prevent contamination and ensure that hygienic manufacturing procedures are maintained. These sterile industrial valves are designed to enable the safe transport of sensitive goods. In June 2022, AKO Armaturen, to enhance its Industrial Valves market share, introduced the EHEDG-certified pinch valves that are designed to meet the hygienic design demands of the pharmaceutical industry. The new product ensures a 100% tight shut-off function of the valve sleeve, preventing any sort of contamination. They can be used for a range of production processes for transporting products including powders, tablets and liquids.
The increasing adoption of Industrial Valves in the food and beverage industry to maintain the specific health and safety standards of the production line:
The food and beverage industry processes a wide range of products including milk, dairy products and bread. They need to ensure safe and uncontaminated manufacturing processes. The food and beverage industry is widely opting for industrial valves to modernize the processing systems that meet health and safety regulations. In July 2022, Valworx introduced a new series of stainless-steel butterfly valves tailored for industries like pharmaceuticals, food & beverage, and related sectors. This strategic move aligns with the growing demand for butterfly valves in critical applications such as pharmaceutical manufacturing, food processing, and wastewater treatment. Consequently, the expansion of butterfly valve offerings contributes significantly to the industrial valves market's upward trajectory, particularly in key sectors.