The report titled “Global Industrial Valve Market Analysis and Forecast, 2019-2028” assesses the global market based on type, material, size, end user, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, production capabilities of the top companies, an overview of the competition, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the global industrial valve market study.
Market Overview and Dynamics: Increasing R&D investments in the manufacturing sector by key industry players are anticipated to boost the growth of the industrial valve market
The growing focus on the development of smart cities globally, and the growing demand for linked connections to maintain and monitor industrial equipment are pivotal growth factors for the market. Moreover, the rising need to construct more nuclear power plants to meet growing energy demand and renovation of existing ones are some of the factors contributing towards the growth of the global industrial valve market.
In addition, increased investments in R&D activities by key market players pertaining to automatic components such as solenoid valves, crucial for the pharmaceutical industry, are anticipated to create growth opportunities for the budding industrial valve market. Likewise, pharmaceutical companies seek to develop sophisticated fluid handling systems, such as automatic sanitizer dispensers and liquid soap dispensers, which, in turn, are creating the need for valves, across the globe. Accordingly, the growing production of medical devices and increasing R&D investments in the pharma sector is expected to boost the growth of the industrial valves market.
With the increasing investment by the government and the presence of foremost market players in the country, China is leading the regional industrial valve market. In the Middle East & Africa, the market is expected to witness a strong growth rate owing to the implementation of mega projects and growing oil & gas exploration activities in the region.
Moreover, the KSA government’s ambitious development plan catering to the diversification of the economy by prioritizing the industrial and manufacturing sector, will affect the overall growth of the market. Germany is accounted to hold a prominent share of Europe’s industrial valve market due to ongoing government and municipal projects for water and water waste treatment, and increasing investment in oil & gas exploration activities in the country.
Segmental Analysis
- Based on the end user, the oil & gas industry is accounted to hold a prominent share of the global industrial valve market due to the growing transportation sector, increasing energy demand, and rising drilling activities in GCC countries.
- On the basis of type, globe valves are anticipated to hold a prominent share of the global market in 2021. The leakproof advantage of the globe valve is expected to complement its sales in the forthcoming years. Other benefits like better full-closing characteristics, shorter opening and closing time, and positive shut-off, are expected to further escalate the market share of the globe valves.
- Asia Pacific is dominating the global industrial valve market owing to the rapidly growing industrial sector. Rapid population growth and urbanization in developing economies such as China, Japan, and India have led to the growth of the energy & power, water & wastewater treatment, building & construction, chemicals, pharmaceuticals, and oil & gas industries. This, in turn, increases the demand for industrial valves across the region.
Competition Analysis
The global industrial valve market is largely fragmented with the presence of various global, regional and local players. As per the RationalStat analysis, the top 20 industry players accounted for nearly 15-20% of the global market share in 2021. Companies are increasingly investing in R&D activities pertaining to automatic components such as solenoid valves that are supplied to the pharmaceutical industry, which is expected to drive the growth of the market in the upcoming years.
Acquisitions, product launches, and partnerships are the identified industry trend in the global industrial valve market.
- In July 2022, DexKo Global Inc. announced its acquisition of Fluid-Press Group, an Italy-based company that manufactures hydraulic valves for agricultural and industrial use. The acquisition helped Dexko Global Inc to further expand its product offering.
- In July 2021, Servern Group acquired US-based ValvTechnologies, a leader in the design and manufacturing of valves. The reason behind the deal was to offer better products in the market.
Some of the prominent players operating in the global industrial valves market include Emerson Electric Co., GE Company, KITZ Corporation, AVK Holding A/S, Avcon Controls Private Ltd, Forbes Marshall, IMI plc, Metso Corporation, The Weir Group plc, Schlumberge Ltd, Flowserve Corporation, Neles Corporation, Spirax Sarco Limited, Crane Co., Trillium Flow Technologies, Bray international, and CIRCOR International, Inc.
RationalStat has segmented the global industrial valve market on the basis of type, material, size, end user, and region.
- By Type
- Gate Valve
- Globe Valve
- Ball Valve
- Butterfly Valve
- Plug Valve
- Other (Check Valve, Pinch Valve, etc.)
- By Material
- Steel
- Cast Iron
- Cryogenic
- Alloy Based
- Others (Brass, Bronze, etc.)
- By Size
- 1-6 inch
- 7-12 inch
- 13-24 inch
- 25-48 inch
- Above 48 inches
- By End User
- Oil and Gas
- Water and Waste Treatment
- Chemicals
- Food and Beverages
- Energy & Power
- Others (Metals and Mining, Paper and Pulp, etc.)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
For more information about this report: https://store.rationalstat.com/store/global-industrial-valve-market/
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