In the realm of industrial engineering, the global industrial valve market has reached an estimated worth of approximately US$ 71.8 Billion in the year 2022. This impressive valuation is attributed to the increasing adoption of industrial valves, essential components for regulating the flow of materials in diverse sectors. As industries recognize the critical role played by these valves, the overall demand is forecasted to experience steady growth, with a moderate Compound Annual Growth Rate (CAGR) of 4.3% projected between 2022 and 2029. By the conclusion of this period, the market is expected to achieve a substantial valuation of US$ 96.2 Billion.

A noteworthy trend in the industry is the continued preference for steel as the primary material for the production of industrial valves. Steel industrial valves remain the top choice for a majority of end-use industries, owing to their numerous advantages, which include durability and corrosion resistance. This preference underscores the enduring reliability of steel valves in various industrial applications.

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With the onset of Industry 4.0 and the reciprocating shift of industries towards automation, the industrial valves landscape is compelled to move beyond its traditional, old-school valve engineering models. Although manually operated valves still account for almost 2/3^rd of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. Furthermore, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. A number of manufacturers are however focusing on investments in globe industrial valves. FMI’s research also highlights visibly growing market attractiveness of butterfly valves across industries.

The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

Market in APEJ Projected for Remunerative Growth

The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2022-2029. According to the report, this growth is propelled by the rapid growth in the oil gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.

Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. Consequently, the region’s chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.

Industrial Valves Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH Co. KG, among others.

The global industrial valves market is significantly consolidated with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

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Industrial Valves Market: Segment Analysis

By Valve Type:

• Gate
  • Parallel
  • Wedge
• Globe
  • Tee
  • Angle
  • Wye
• Ball
  • Trunnion
  • Floating
  • Threaded Series
• Butterfly
  • High Performance
  • Lined
• Plug
  • Lined
  • Lubricated
  • Non-Lubricated
• Check
  • Dual Plate
  • Piston Lift
  • Spring Loaded Disk
  • Swing Check
  • Tilting Check
  • Y Pattern
  • T Pattern
• Safety Relief
  • Spring Loaded
  • Pilot Operated
• Other Customized

By Valve Material:

• Cast Steel
• Carbon Steel
• Stainless Steel
• Bronze
• Other Alloys

By End-use Industry:

• Oil Gas
• Chemical
• Water Wastewater Treatment
• Power Plants
• Paper Pulp
• Others

By Function:

• Manual
• Automatic

By Region:

• North America
• Latin America
• Eastern Europe
• Western Europe
• Asia Pacific Excluding Japan
• Middle East and Africa
• Japan