PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349938
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349938
Global Valves market is estimated to be valued at US$ 68.17 Bn in 2022 and is expected to grow at a CAGR of 6.8% during the forecasted period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 72.04 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.80% | 2030 Value Projection: | US$ 114.37 Bn |
The Global Valves Market refers to the worldwide industry involved in the production, distribution, and sale of various types of valves used in different applications. Valves are mechanical devices designed to control the flow of fluids (liquids, gases, or slurries) by opening, closing, or partially obstructing pathways. They are widely used in industries such as oil and gas, water and wastewater management, power generation, chemical processing, pharmaceuticals, and many others. The global valves market is substantial and encompasses a wide range of valve types, materials, and technologies to meet diverse industrial needs.
Global Valves market is segmented on the basis of Product, Industry, and region. Based on Product, the market is further segmented into Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, and Other Valves. On the basis of Industry, the global valves market is segmented into Oil & Gas (LNG, Petroleum (Upstream, Midstream, Downstream and Petrochemical), and Power (Fossils (Coal & Oil, Natural Gas, Nuclear Power and Other) Power, Chemicals, Marine, Construction, Pulp & Paper, Mining, Water & Waste Water Treatment and Other.
The Global Valves Market is influenced by a dynamic interplay of various factors that shape its growth and direction. Industrial growth, particularly in emerging economies, creates substantial demand for valves in diverse applications such as manufacturing, oil and gas exploration, and power generation. Investments in infrastructure projects, coupled with the growing global demand for energy, drive the need for valves in sectors like water treatment, pipelines, and energy distribution. The market is also impacted by stricter environmental regulations, prompting the development of more efficient and eco-friendly valve solutions