Global Industrial Valve Market - 2023-2030

Market Overview

The Global Industrial Valve Market reached US$ 79.2 billion in 2022 and is expected to reach US$ 108.4 billion by 2030, growing a CAGR of 4.6% during the forecast period 2023-2030.

The need for improved process efficiency, strict regulatory requirements and safety standards have contributed to the market's growth. Industrial valves are crucial in optimizing operations, ensuring proper flow control and maintaining the safety of industrial processes.

Advancements in valve technologies, such as developing smart valves and digital control systems, are boosting market growth. These innovations enhance operational efficiency, reduce maintenance costs, and provide better control and monitoring capabilities.

Germany is renowned for its manufacturing prowess and engineering expertise. German companies have been at the forefront of developing high-quality industrial valves known for their precision, reliability and durability.

The country's rigorous quality standards, advanced production techniques and emphasis on innovation have helped German valve manufacturers gain a strong foothold in the global market. Therefore, Germany was accounted for more than 1/3rd of the regional market shares in 2022 and is expected to grow at a significant CAGR during the forecasted period.

Market Dynamics

Increasing Global Energy Demand

The industrial valve industry is witnessing advancements in valve design and technology. For example, developing smart valves equipped with sensors and actuators allows for remote monitoring, control and diagnostics. These advancements enhance valve performance, increase efficiency and improve maintenance practices.

With the growing emphasis on sustainable practices, there is a rising demand for energy-efficient valves. Manufacturers are developing valves with improved sealing mechanisms and reduced leakage rates to enhance energy efficiency in industrial processes. These energy-efficient valves help industries minimize energy consumption and lower their environmental impact. Therefore, the increasing global energy demand drives the growth of the global industrial valve market by fueling demand in the oil and gas industry, power generation sector and renewable energy installations. Therefore, above mentioned factors drives the growth of the global industrial valve market.

Growing Need for New Power Plants and Upgrading of Existing Plants

Many power plants worldwide are aging and require upgrades to enhance efficiency, reduce emissions and comply with stringent environmental regulations. Upgrading existing plants often involves replacing outdated valves with advanced, more efficient valve technologies.

For instance, replacing traditional valves with control valves equipped with advanced automation systems enables precise control and optimization of power plant processes. This upgrading trend leads to increased demand for industrial valves.

There is a growing focus on improving energy efficiency in power plants to reduce carbon emissions and operating costs. This emphasis has led to the development of energy-efficient valve solutions. For example, valve manufacturers design valves with low leakage rates and improved flow characteristics, contributing to overall plant efficiency and sustainability.

Industrial Valves' Propensity to Malfunction

Malfunctioning valves can pose safety risks in industrial settings. For example, a valve failure in a hazardous environment or a critical process can result in leaks, spills or other accidents, potentially causing harm to workers, equipment and the environment. Ensuring valve reliability and preventing malfunctions is crucial to maintaining a safe working environment. The risk of valve malfunctioning can deter potential customers from investing in new valve installations or expanding their valve infrastructure.

Valve malfunctions can damage the reputation of valve manufacturers and suppliers. Companies that experience frequent valve failures may face customer dissatisfaction and loss of trust. Customers may hesitate to invest in products from manufacturers with a track record of reliability issues, impacting the market growth for these manufacturers. Building and maintaining a reputation for producing high-quality, reliable valves is essential to thrive in the industrial valve market.

COVID-19 Impact Analysis

Many industrial projects, such as infrastructure development and expansion plans, were put on hold or canceled due to the economic uncertainties caused by the pandemic. This directly impacted the demand for industrial valves, as these projects are major consumers of valves for various applications. The postponement of projects resulted in delayed or reduced valve orders, affecting the market growth.

As countries gradually eased restrictions and resumed economic activities, the industrial valve market started to recover. Manufacturers adapted to new health and safety protocols, implemented remote working arrangements and adopted digitalization and automation technologies to enhance efficiency. This adaptation helped mitigate some of the challenges and supported the market's recovery.

Russia-Ukraine War Impact Analysis

Russia is one of the largest producers and exporters of oil and natural gas globally. These resources are vital for various industries, including energy, petrochemicals and manufacturing, where industrial valves are extensively used. The availability of natural resources in Russia ensures a steady demand for valves in Europe.

Geopolitical tensions and uncertainty can result in price fluctuations for commodities like oil and gas. These price changes can impact the cost of raw materials used in valve production, potentially affecting the overall pricing of industrial valves in the global market. Moreover, market volatility and uncertainty can lead to cautious decision-making and reduced investments, which may impact the demand for industrial valves.

Artificial Intelligence Impact Analysis

AI can assist in selecting the most suitable valves for specific applications. By analyzing historical data, performance requirements and environmental conditions, AI algorithms can provide recommendations for valve types and configurations. For instance, AI can suggest valves that are better suited for corrosive fluids or high-pressure environments. This helps optimize valve performance and enhances system reliability.

Therefore, AI in the industrial valve market offers benefits such as proactive maintenance, real-time monitoring, energy efficiency optimization, intelligent valve selection and accelerated product development. These advancements contribute to improved reliability, reduced costs and enhanced performance for industrial valve systems.

Segment Analysis

The Global Industrial Valve Market is segmented based on valve, material, size, application and region.

A Resilient Recovery and Manufacturing Growth Drives the Growth of the Oil & Gas Application Segment

The oil & gas industry encompasses extraction and refining and manufacturing activities related to equipment and infrastructure used in the sector. As manufacturing activities in the oil & gas industry expand, there is a higher demand for industrial valves to support the production of drilling rigs, pipelines, storage tanks, refineries and other critical equipment. The growth of manufacturing activities in the oil & gas sector directly boosts the demand for industrial valves, contributing to developing the global market's oil & gas application segment.

As the global energy demand continues to rise, there is an increasing focus on exploration and production activities in the oil & gas sector. Exploration activities involve drilling wells to discover new reserves, while production activities involve extracting and processing oil & gas from existing resources.

Industrial valves are extensively used in these activities to regulate the flow of fluids, control pressure and ensure safety. Expanding exploration and production activities drives the demand for industrial valves specifically designed for oil & gas applications.

Geographical Analysis

Emerging Opportunities in China's Industrial Valve Sector Driven by Fuel Demand and Power Generation, Powering the Asia-Pacific Market

China's continuous infrastructure development, including projects such as the Belt and Road Initiative, contributes to the rising demand for industrial valves. Infrastructure sectors like water treatment plants, pipeline networks and transportation systems require various industrial valves to ensure efficient operations. These valves help control the flow, pressure and direction of fluids, making them indispensable in maintaining smooth functioning across diverse infrastructure projects.

The need for industrial pumps and other more effective regulating devices is being driven by the government and other companies that are currently building several new power-producing facilities. These upgrades should raise demand for different industrial valves, increasing the regional share of the market.

Compared to other countries, China turned out to be a leader in the Asia-Pacific market over the years, which accounts for approximately half of the regional market share and is expected to grow at a highest CAGR during the forecasted period in the region.

Competitive Landscape

The major global players include: AVK Holding A/S, Avcon Controls Pvt Ltd, Cameron - Schlumberger, Crane Co., Emerson, Flowserve Corporation, Forbes Marshall, Bosch Rexroth, Kitz Corporation and Metso Corporation.

Why Purchase the Report?

• To visualize the Global Industrial Valve Market segmentation based on valve, material, size, application, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous industrial valve market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Industrial Valve Market Report Would Provide Approximately 69 Tables, 81 Figures And 241 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies