Industrial Valve Market Size - By Type (Ball Valves, Check Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Diaphragm Valves, Safety Valves), By Material, By Component, By Size, By End Use, By Distribution Channel & Forecast, 2024 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndustrial Valve Market Size - By Type (Ball Valves, Check Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Diaphragm Valves, Safety Valves), By Material, By Component, By Size, By End Use, By Distribution Channel & Forecast, 2024 – 2032
Industrial Valve Market Size
Industrial Valve Market size was valued at USD 72 billion in 2023 and is anticipated to register a CAGR of over 6.2% between 2024 and 2032. The increasing construction of new power plants, rise in the industrial equipment performance & lubricant life with continuous filtration of lubrication, and growing adoption of high-quality industrial valves to enhance output & minimize losses are some of the factors driving market growth. In recent years, improvements in manufacturing techniques and material technology have enabled newly developed valves to provide effective performance in increased pressure and temperature conditions.
To get key market trends
In our fast-paced industrial world, businesses are constantly pushing the limits of innovation. This means that high-quality industrial valves are more important than ever. These valves are used to control the flow of gases and liquids in various industrial processes. To keep up with the growing demand, valve manufacturers are turning to advanced technologies like AI, ML, and IoT. These technologies help create valves that are more durable, precise, and safe. They also reduce operational risks and boost productivity. In short, these cutting-edge technologies are making industrial processes run smoother and more efficiently. They're helping businesses meet their goals and stay ahead of the competition.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Industrial Valve Market Size in 2023 | USD 72 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 6.3% |
| 2032 Value Projection | USD 123 Billion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 387 |
| Tables, Charts & Figures | 250 |
| Segments covered | Type, Material, Component, Size, End Use, Distribution Channel, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Valve manufacturers concentrate on low-cost manufacturing locations since outsourcing provides advantages in terms of pricing. They were able to cut expenses, but problems like poor quality and late deliveries continued to arise. Increased consumer dissatisfaction and rejection rates follow, forcing businesses to adjust their supply chains in order to standardize quality throughout all of their facilities. Due to this, valve manufacturers have to follow many certifications and local laws pertaining to industrial valves. This leads to a range of product specifications because valves are widely available in a number of end-user sectors.
Industrial Valve Market Trends
There is a growing demand for remote conditional monitoring among end-user industries to increase workplace safety, reduce unplanned downtime, and reduce maintenance & repair costs. The implementation of automation in valves has further increased the emphasis on precise monitoring. It eliminates human errors in process control and provides precise control over service fluid. Moreover, several manufacturers have begun offering end-use industries with condition monitoring solutions. For instance, Emerson Electric Co., an industrial automation company, provides valve condition monitoring and non-intrusive health monitoring solutions for the chemical, power, energy, and life sciences sectors that improve overall productivity & plant safety.
Industrial Valve Market Analysis
Learn more about the key segments shaping this market
Based on type, the check valves segment held over USD 14.04 billion revenue in 2023. The chemical industry widely utilizes check valves in several applications such as ensuring the safety & efficiency of chemical processing systems, preventing leakage & backflow, and controlling the flow of corrosive & hazardous fluids. In March 2023, Check-All Valve, a manufacturing company, launched adapter valves, which include MALE THREAD X FEMALE THREAD (MODEL AM) and FEMALE THREAD X MALE THREAD (MODEL AF). These models feature identical pipe thread sizes on both ends, which makes them ideal for the chemical industry.
The diaphragm valves segment is also anticipated to grow at a significant CAGR during the forecast period. These valves lessen the risk of contamination, enhance the flow of regulation for a smooth process, and reduce the maintenance costs of industries. Furthermore, the growing demand for radioactive waste management, increasing demand for safe & reliable production, and growing use of diaphragm valves in water treatment facilities are propelling the industrial valve market growth.
In July 2022, KSB SE & Co. KGaA, a German multinational manufacturer of valves & pumps, launched the SISTO-16RGAMaXX diaphragm valve type series, which features stainless steel body and threaded sockets. These valves are installed in drinking water transport systems to meet demands in terms of design and materials employed.
Learn more about the key segments shaping this market
In 2023, the industrial valve market was ruled by the actuators segment, which was worth around a whopping USD 31.61 billion. Actuators are like the remote controls of the industrial world. They're used to automate and control machines and systems. There's a big push these days to make factories and industries run smoother and produce more. This is boosting the demand for actuators, because they can help reduce downtime and increase efficiency. They're also playing a growing role in the rise of industrial robots and automated processes. Robots rely on actuators to move, whether they're using air (pneumatic), electricity (electric), or fluids (hydraulic). Another part of the industrial valve market is called "others," which is expected to grow rapidly in the coming years. This category includes positioners and I/P converters. Smart valve positioners are becoming more popular because they can do more than just control the valve. They can collect data and send it back to you, so you can keep an eye on your valves' performance and make sure they're running smoothly. This helps you avoid problems and fix any issues before they cause downtime.
Looking for region specific data?
North America industrial valve market accounted for 22% of the revenue share in 2023. One of the major drivers propelling the regional market is the increasing energy demand. The need for efficient energy generation & delivery is expanding due to the region's industrialization and growing population. Industrial valves are essential for maintaining the efficiency and safety in power generation facilities by managing the flow of fluids & gases. The continuing progress in oil & gas production and exploration, along with the growth of renewable energy sources, is driving the demand for high-performance industrial valves.
The industry 4.0 revolution has resulted in the development of intelligent or smart valves with sensors, actuators, and communication capabilities. By enabling remote control, predictive maintenance, and real-time monitoring, these smart valves improve overall operating efficiency. Furthermore, manufacturers have an opportunity to profit from the growing demand for technologically sophisticated, networked industrial valves due to the increased focus on automation, the Internet of Things (IoT), and data analytics.
Industrial Valve Market Share
Imagine the industrial valve industry as a bustling marketplace with many local and international businesses competing for customers. It's like a lively street with vendors from all over the world. In 2023, a handful of these vendors—think of them as the "bigwigs" in the industry—shared a significant chunk of the market. These heavyweights are always on the lookout for opportunities to grow and stay ahead of the game. They do this by merging with other companies, building new factories, and partnering with other businesses. They also know that to stay competitive, they need to invest in the latest and greatest technology. So, they spend a lot of time and money on research and development to make their valves better and more efficient. This helps them stay one step ahead of the competition and keep customers happy.
Industrial Valve Market Companies
Major companies operating in the industrial valve industry include
- ALFA LAVAL
- AVK Holding A/S
- Baker Hughes Company
- CIRCOR International, Inc.
- Crane Company
- Curtiss-Wright Corporation
- Danfoss
- Emerson Electric Co.
- Hitachi, Ltd.
- Honeywell International Inc.
- KSB SE & Co. KGaA
- KITZ Corporation
- SLB (Schlumberger Limited.)
- The Weir Group PLC
- Watts (Watts Water Technologies)
Industrial Valve Industry News
- In January 2024, Baker Hughes Company, an energy technology company, launched the Valve Lifecycle Management (VLM) Cloud application for end-user customers. The cloud application focuses on three main areasinstalled base management, monitoring & diagnostics, and aftermarket strategy & execution. With the launch of the VLM cloud, each valve will receive a special Digital Asset Tag (DAT, a QR Code), which connects the cloud application to the physical valves and provides all digital data about the valves to the end-user.
- In January 2024, Crane Company acquired Vian Enterprises, a global designer and manufacturer of lubrication pumps & lubrication systems, for USD 103 million. With this acquisition, Crane strengthened its position on gearboxes, auxiliary power units, and engines.
- In May 2023, SISTO Armaturen S.A., part of the KSB Group, received a contract to supply diaphragm valves to the chloralkali electrolysis facility being built in Fos-sur-Mer, France
The industrial valve market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Type
- Ball Valves
- Check Valves
- Butterfly Valves
- Gate Valves
- Globe Valves
- Plug Valves
- Diaphragm Valves
- Safety Valves
Market, By Material
- Steel
- Plastic
- Cast Iron
- Alloy-based
- Others
Market, By Component
- Actuators
- Valve Body
- Others
Market, By Size
- <1”
- 1” to 6”
- 7” to 25”
- 26” to 50”
- >50”
Market, By End Use
- Chemical
- Energy & Utilities
- Construction
- Metal & Mining
- Agriculture
- Pharmaceutical
- Food & Beverage
- Pulp & Paper
- Others
Market, By Distribution Channel
- Direct Sales
- Indirect Sales
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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