Industrial valves market is expected to rise from its initial estimated value of USD 7025 billion in 2018 to a projected value of USD 94.52 billion by 2026, registering a CAGR of 3.78% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in demand of the product from energy & power and oil & gas industries.
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Industrial valves are mechanical devices that are attached on various machines and equipments for the control of flow in a system; they are differentiated according to the different functions they perform such as stop/start, throttle, non-return, etc. They are categorised on different shapes and sizes according to the different needs of the consumer from the different industries.
Increasing prevalence of smart cities development and installation; this factor is expected to drive the market growth
Presence of strict regulations and compliances from the authorities for making the industries more reliable
Major Market Competitors/Players
Few of the major competitors currently present in the market are Schlumberger Limited; Neway valve; Spirax-Sarco Engineering plc; Flowserve Corporation; KITZ Corporation; IMI plc; Metso Corporation; The Weir Group PLC; Crane Co.; SPX Corporation; Emerson Electric Co.; Kim Valves Australia PTY Ltd.; AVK Holding A/S; Swagelok Company; Samson AG; Avcon Controls Pvt Ltd; Conbraco Industries Inc.; Forbes Marshall; Ham Let Israel Canada Ltd; Dwyer Instruments, Inc.; EBRO ARMATUREN Gebr. Bröer GmbH; ALFA LAVAL; Velan Inc.; CIRCOR International, Inc.; Curtiss-Wright Corporation; Danfoss; Georg Fischer Ltd.; Baker Hughes, a GE company LLC; Hitachi Metals, Ltd.; Honeywell International Inc.; ITT INC.; Mueller Water Products, Inc.; NIBCO INC.,; OKANO VALVE MFG. CO. LTD.; TechnipFMC plc; Valvitalia SpA; Xylem and DunAn.
Key Developments in the Market:
In December 2018, Emerson Electric Co. announced that they had acquired Advanced Engineering Valves. This acquisition will help in providing their customers with the widest range of industrial valves that are equipped with high performance and reliability.
In July 2018, SPX Corporation announced the launch of a new range of valves that are expected to be used for separation of dissimilar products for the food & beverage processing industry. The new range of valves launched under the series, “D4” allows thorough cleaning and helps in significant reduction of cleaning costs.
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Global industrial valves market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial valves market for global, Europe, North America, Asia-Pacific and South America.
Segmentation: Global Industrial Valves Market
By Valve Type
Standard Plate Gate Valves
Wedge Gate Valves
Knife Gate Valves
More than 50”
By End-Use Industry
Water & Wastewater Treatment
Oil & Gas
Chemicals & Petrochemicals
Energy & Power
Pulp & Paper
Food & Beverage Processing
Metals & Mining
Semiconductors & Electronics
North America (U.S., Canada, Mexico)
South America (Brazil, Argentina, Rest of South America)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe)
Asia-Pacific ( Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific)
Middle East & Africa (South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, Rest of Middle East & Africa)
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