Industrial Valves Market Size to Hit $89.33 Billion, Globally, by 2031 | Exclusive Report by The Insight Partners

Industrial Valves Market with a CAGR of 4.2% by 2031 report includes key company profiles like are Valen Inc., Crane Co., Circor International, Emerson Electric Co., Flowserve Corporation, Kitz Corporation, Neway Valve (Suzhou) Co. Ltd., Spirax Sarco, Schlumberger Limited, and Weir Group Plc.

/EIN News/ -- US & Canada, Jan. 27, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, “the global Industrial Valves Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Valves Type (Ball Valve, Butterfly Valve, Safety Valve, Control Valve, Check Valve, Plug Valve, and Others), Ball Valve Type (Top Entry, Fully Welded, and Side Entry), Size (Up-to 5 Inches, 6 to 15 inches, 16 to 24 inches, Above 25 Inches), Class (Below 150, 300, 400, 600, 800, 900, 1500, 2500), and Industry (Oil and Gas, LNG, Water Treatment, Power and Energy, Chemical and Petrochemical, and Others), Butterfly Valve Disc Closure Type (Centric or Concentric, and Eccentric), Construction Type (Wafer, Flanged, Welded, Lug), Control Valve Type (2 Way Control Valves, 3 Way Control Valves), Check Valve Type (Swing Check Valves, Wafer Check Valves, Tilted Disc Check Valves, and Others), and Geography”.

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The report runs an in-depth analysis of market trends, key players, and future opportunities. Types of industrial valves include ball valve, butterfly valve, safety valves, control valves, check valves, plug valves, and others. Industrial valves manufacturers procure specific grades of materials from raw material supplier and process further to develop the final product.

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Market Overview and Growth Trajectory:

Industrial Valves Market Growth: The industrial valves market size is projected to reach US$ 89.33 billion by 2031 from US$ 64.33 billion in 2023. The market is expected to register a CAGR of 4.2% during 2023–2031. 1.   The growing rate of industrialization has led to an increase in demand for oil and gas, owing to which the development of new oil refineries is rising globally. This, in turn, is driving the industrial valve market. Further, the increasing emphasis on sustainability and curtailing pollution of water bodies by governments has led to a rise in the deployment of wastewater treatment plants, which is boosting the sales of industrial valves further. Moreover, the constantly growing chemical industry across the globe, owing to a significant rise in the use of several chemicals across industries such as agriculture, manufacturing, construction, plastic products, textiles, and pulp & paper, is further driving the demand for industrial valves, thereby contributing to the growth of the market.

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Growing Use of Valves in Oil and Gas Industry: Growing Use of Valves in Oil & Gas Industry oil acts as an important base raw material for deriving various chemicals such as organic, analytical, physical, inorganic and biochemistry. With the increasing rate of industrialization, the demand for oil and gas has surged substantially across the globe. The crude oil production of the Organization of the Petroleum Exporting Countries (OPEG) has increased steadily from ~400,000 b/d in January 2016 to ~800,000 b/d by the end of Q2 of 2021. Countries such as the US, China, India, Vietnam, and South Korea are showcasing huge demand for crude oil due to the continuous growth in their manufacturing sectors, supported by favorable economic conditions and government policies and investments. Such a growth of oil and gas industry increased the demand for industrial valves and thereby driving the market growth globally.

Increasing Use of Ball Valves and Butterfly Valves: Ball valves have a simple construction that features a ball mounted within a pipe. The ball valves are majorly known for their high durability, damage resistance, and low service requirements. They can be repaired easily without the need for intense workmanship. Furthermore, these valves do not require lubrication while offering a bubble-tight seal with low torque. Ball valves are also affordable and easy to use. In addition, they can handle and regulate high volume, pressure, and flow at elevated temperatures, which makes them suitable for operations involving various gasses and liquids. Thus, these factors are propelling the adoption of ball valves in industries such as oil & gas, water & wastewater, and chemicals & petrochemicals. For instance, in November 2022, FITOK Group announced the launch of its new BGP series ball valves for specialty gas, semiconductor, and chemical industry applications.

Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. Asia Pacific is expected to register the highest CAGR during the forecast period.

Industrial Valves Market Segmentation, Applications, Geographical Insights:

• Based on type, the Industrial Valves market is classified into ball valve, butterfly valve, safety valves, control valves, check valves, plug valves, and others. The control valve segment held the largest share of the market in 2023.
  
  

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Key Players and Competitive Landscape:

The Industrial Valves Market is characterized by the presence of several major players, including:

• Valen Inc
• Crane Co.
• Circor International
• Emerson Electric Co.
• Flowserve Corporation
• Kitz Corporation
• Neway Valve (Suzhou) Co. Ltd.
• Spirax Sarco
• Schlumberger Limited
• Weir Group Plc.

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Industrial Valves Market Recent Developments and Innovations:

• " Circor announced that it would showcase its Hale Hamilton brand valves for the hydrogen economy at the 2023 Hydrogen & Fuel Cell Seminar on February 7-9 in Long Beach, California.”
  
  
• “Emerson Introduces New Miniature Rocker Isolation Valve for Clinical Laboratory Instruments.”
  
  
• “CIRCOR Receives Award from Electric Boat to Supply Block V Ball Valves to U.S. Navy.”
  
  

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Conclusion:

Asia Pacific is projected to register a CAGR of 5.0% from 2023 to 2031. The demand for industrial valves is rising in the water & wastewater management industry in Asia Pacific and is expected to grow in the next few years. The region's dense population, high per capita income, and rapid industrialization are a few factors contributing to the industrial valves market expansion in the region. The growing demand for new and enhanced water and wastewater treatment facilities and the increasing requirement for proper water usage by urban populations across Asia Pacific drive the industrial valves market. The rise in technological advancements has led to a surge in exploration and production of oil and gas. In Asia Pacific, new oil and gas reserves have been found in several nations such as China and Thailand. The rising investment toward oil and gas exploration and production is expected to offer lucrative opportunities for the industrial valves market across Asia Pacific in the coming years.

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