Industrial Valve Market
The market for Industrial Valve was estimated at $83.7 billion in 2023; it is anticipated to increase to $119 billion by 2030, with projections indicating growth to around $152 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Industrial Valve Market Outlook
Revenue, 2023
$83.7B
Forecast, 2033
$137B
CAGR, 2024 - 2033
5.1%
The Industrial Valve industry revenue is expected to be around $92.5 billion in 2024 and expected to showcase growth with 5.1% CAGR between 2024 and 2033. Industrial valves play a crucial role in various industries by regulating the movement of liquids, gases and other substances within industrial operations. By 2023 the global industrial valve market had achieved a valuation of USD 83.7 billion. The market is anticipated to experience growth in sectors like oil and gas and chemicals as well, as water treatment industries at a compound annual growth rate (CAGR) of 5.1%. It is forecasted to achieve a market value of approximately USD 118.6 billion by the year 2030 and is expected to reach around USD 152 billion by the year 2035.
Valves used in industries are crucial for controlling the flow of substances in equipment like pipelines and tanks based on their type materials used and purpose they serve. Their strength and resistance to corrosion make them reliable, in harsh conditions ensuring safety and efficiency across different sectors.
Market Key Insights
- The Industrial Valve market is projected to grow from $83.7 billion in 2023 to $138 billion in 2033. This represents a CAGR of 5.1%, reflecting rising demand across Oil & Gas Industry , Water & Wastewater Treatment and Power Generation.
- Emerson, Flowserve, Schlumberger are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Industrial Valve market and are expected to observe the growth CAGR of 3.3% to 4.9% between 2023 and 2030.
- Emerging markets including Vietnam, Brazil and Nigeria are expected to observe highest growth with CAGR ranging between 5.9% to 7.0%.
- Transition like Global energy transition has greater influence in U.S. and Germany market's value chain; and is expected to add $4 billion of additional value to Industrial Valve industry revenue by 2030.
- The Industrial Valve market is set to add $53.9 billion between 2023 and 2033, with manufacturer targeting Cast Iron & Alloy-Based Material projected to gain a larger market share.
- With Increasing investments in oil & gas infrastructure, and Environment regulations, Industrial Valve market to expand 64% between 2023 and 2033.
Opportunities in the Industrial Valve
The increasing need for eco-friendly water management solutions in cities, offers a profitable chance for the growth of industrial valve uses in water and wastewater systems.
Growth Opportunities in North America and Asia-Pacific
In North Americas market realm, Emerson and Flowserve stands as leading figures with experience and influence in the industry landscape. These reputable firms provide top tier valve solutions tailored to specific needs, with cutting edge features and long lasting quality that justify their premium pricing
In countries like China and India, valve market is known for being sensitive to prices where local companies such as L&T Valves and Other Chinese manufacturers focus more on cost efficiency rather than luxury products when competing with each other. This emphasis on pricing has led to advancements in affordable manufacturing techniques and distribution methods, in the industry
Market Dynamics and Supply Chain
01
Driver: Increasing investments in oil & gas infrastructure, and Energy Transition
The rising investments in green-field oil and gas infrastructures specifically refineries and storage are also boosting the need for advanced industrial valves significantly in regions, like the Middle East and Southeast Asia. The increasing use of wind power is also driving the power generation sector to embrace innovative valve technologies designed for high temperatures.
The increasing focus of laws and initiatives for water preservation is also driving the demand for intelligent valves, in the water and wastewater industry. These valves are also crafted to minimize leaks and enhance efficiency.
02
Restraint: High Cost
The expensive nature of cutting edge valve technologies poses a challenge in regions such, as Asia Pacific. Hinders the widespread use of smart valves. Local manufacturers often consider smart valves to be capital intensive.
03
Opportunity: Automation and Next-generation material
The increasing adoption of digitalization in operations presents great potential for incorporating advanced valve technologies, in the oil & gas and chemical sectors. Companies focused on intelligent valve systems are expected to get benefited due to price premium.
The creation of materials that have improved resistance to corrosion and high temperatures is paving the way for exciting opportunities in the chemical and power generation industries particularly, for high performing valves.
04
Challenge: Regulations
In regions like Europe and North America with regulatory requirements, in place manufacturers face higher compliance costs which in turn raise their production expenses.
Use Cases of Industrial Valve in Oil & Gas Industry & Water & Wastewater Treatment
Oil & Gas Industry : Industrial valves play a role in regulating the movement of oil and gas in various stages of operations related to their extraction and processing activities in the industry sector. Ball valves are especially popular among pipeline systems due to their effectiveness in managing pressure and temperature conditions. Prominent companies such, as Schlumberger and Baker Hughes prioritize the development of valves that ensure performance without any leaks and increased resilience when operating in challenging environmental conditions.
Water & Wastewater Treatment : In this field of work involving water systems maintenance and sewage treatment plants operation, valves play a role in managing the flow effectively. Take butterfly valves for instance; they're popular because of their structure and affordability. Companies such as Mueller Water Products are, at the forefront of creating valves that can identify leaks and enhance water conservation initiatives.
Power Generation : Power plants use types of industrial valves to regulate the flow of steam and liquids effectively in various settings, with high pressure levels favorably choosing globe and gate valves for the purpose. Weir Group and similar providers are constantly improving their product offerings to align with the changing needs of energy facilities to ensure efficient operations and safety standards are met.
Chemical Industry : Chemical industry's operations demands precised handling of corrosive fluids for various chemical reactions. Corrosion resistance stands out as a crucial aspect to consider for safety and efficiency purposes. Notable companies like Crane Co and KSB Group are at the forefront of developing cutting edge valve materials with a focus, on utilizing alloys known for their ability to resist chemical corrosion effectively.
Recent Developments
These progressions showcase an approach of using technological advancements to improve product offerings and stay competitive.
September 2023 : Weir Group launched a range of valves designed for use in high temperatures, at renewable energy facilities.
July 2023 : Emerson completed the acquisition of Advanced Valve Group as a step to bolster its presence in the chemical sector through the broadening of its valve offerings.
March 2023 : Flowserve unveiled a line of intelligent valves tailored for the oil & gas industry. The primary goal is to improve safety by incorporating real time monitoring features.
Impact of Industry Transitions on the Industrial Valve Market
As a core segment of the Production Tools & Equipment industry,
the Industrial Valve market develops in line with broader industry shifts.
Over recent years, transitions such as Global energy transition and Rising adoption of Industry 4.0 technologies have redefined priorities
across the Production Tools & Equipment sector,
influencing how the Industrial Valve market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Global energy transition
The growing interest in utilizing renewable energy has created a higher need for valves capable of withstanding extreme temperatures and pressures in power generation settings. Companies such as IMI Critical Engineering are meeting this demand by introducing valve solutions tailored for renewable power facilities.
02
Rising adoption of Industry 4.0 technologies
Digital valve solutions play a part in automating industrial operations and improving efficiency in areas like chemical processing and mining.