Middle East 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, Wastewa
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Infrastructure | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMiddle East 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, Wastewa
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Middle East Industrial Valve Market was valued at USD 2.6 billion in 2023 and is estimated to grow at a CAGR of 6.3% from 2024 to 2032, due to the surge in infrastructure development.
Middle East Industrial Valves market is anticipated to grow at a steady pace in the forecast period 2024-2028. The market is strong and is anticipated to continue expanding in the future due to increased industrialization, manufacturing costs, and rising energy demand in the Middle East region. Consequently, oil refineries are expanding because of rising oil consumption. Therefore, with the growth in oil refineries' investments, comes the requirement for valves that are capable of withstanding high pressures while also minimizing operational cost wastage.
With relation to this, over USD 66 billion in long-term capital investments have been pledged for water and sanitation projects in the region over the next ten years, and the government's goal is to achieve 100% wastewater reuse from towns with 5,000 or more residents by 2025.
Adoption Of Smart Valves with Intelligent Control Systems Fueling the Market Growth
Smart valves with smart control systems are anticipated to grow increasingly, and in-turn, is anticipated to fast-track future development. Over the next ten years, the demand is expected to be driven by an increase in diagnostics and advanced devices in industrial valves for monitoring process factors such as upstream & downstream pressure stem position, temperature, and flow rate. The growth of smart valves for subsea oil and gas has improved the flexibility and dependability of the systems, which is likely to strongly influence market growth.
The demand for wastewater valves has increased significantly due to the penetration of industrialization and the rising use of automation in the manufacturing and processing sectors. For instance, the additional flow needed for a fluid recirculation condensate pump is controlled and regulated by valves in the condensate system. In addition, valves are employed to regulate the feed water heater's deaerator level. Due to rising awareness of wastewater treatment, the industrial valve market is expected to grow in the forecast period.
Wide-Scale Implementation of The Internet of Things (IOT) Achieving High Efficiency in Industrial Valves
Increasing Demand from Industrial Applications
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Niche Applications of Valves Driving the Market Growth
Saudi Arabia Growing oil & gas Industry
Recent Development
- The UAE has an Industry 4.0 plan that intends to increase manufacturing by 30%, increase productivity and the development of innovative products, and add Dh25 billion (USD 6.8 billion) to the country's economy by 2031.
- The largest economy in the Arab world, Saudi Arabia, is now building the USD 500 billion megacity known as Neom, which will be powered by smart technologies. Both nations are making significant investments in technology businesses and services to advance and complete their goals.
- According to the Organization of Arab Petroleum Exporting Countries (OAPEC), there are currently 64 operating refineries in the Arab world, with a combined refining capacity of 7.83 million barrels per day. Many of these refineries are situated in the GCC nations.
- Arab refineries have a capacity of 8% of the world's current 87.2 million barrels per day (bpd) total refining capacity, despite controlling more than 40% of the world's proven recoverable oil resource.
- The rising demand for refined goods is the driving force behind the new projects, which will significantly expand the refining throughput of the 10 OAPEC nations. The energy information administration agency estimated that these planned refinery additions will cost a total of USD 100 billion.
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Market Segmentation
Market Players
|
Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2022 |
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Estimated Year |
2024 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028. |
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Report coverage |
Revenue forecast, company share, growth factors, and trends |
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Segments covered |
Valve Type Material Type Application Product |
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Regional scope |
Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Rest of Middle East |
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Key companies profiled |
CIRCOR International, Inc, Crane Co, Emerson Electric Co, Flowserve Corporation, IMI Critical Engineering, KITZ Corporation, Neway Valve (Suzhou) Co., Ltd, Schlumberger Limited, Spirax-Sarco Engineering PLC, and Velan Inc. |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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