Industrial Valves Market revenue to hit USD 124 Billion by 2035, says Research Nester

Leading industrial valves market players include Severn Group, Total Valve Systems, Valmet, Emerson Electric Co., DomBor Valve, YUKEN KOGYO CO., LTD, Yokogawa Electric Corporation, Azbil Corporation, NACHI-FUJIKOSHI CORP, and Sawamura Valve Co., Ltd.


New York, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The global industrial valves market size is predicted to grow at a CAGR of over ~4.6% from 2023 to 2035. The market is projected to garner a revenue of USD 124 billion by the end of 2035, up from a revenue of ~USD 72 billion in the year 2022.The need for industrial valves has risen recently as a result of the world's rapid industrialization. The flow of materials across key sectors may be easily and affordably controlled with the help of these industrial valves. Additionally, the growing use of industrial valves in wastewater treatment facilities, sewage pumping, and numerous other applications will support the expansion of the industrial valves market globally. High-income nations treat, on average, 70% of the wastewater they produce.

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The industrial valves market refers to the global industry that manufactures and sells valves used in various industrial applications. Valves are devices designed to control, regulate, or direct the flow of fluids (liquids, gases, or slurries) within pipelines, machinery, and other systems. These devices are essential components in a wide range of industries, including oil and gas, water and wastewater treatment, power generation, chemicals, pharmaceuticals, and many more. The industrial valves market is substantial, with steady growth over the years. Market size and growth are influenced by industrial expansion, infrastructure development, and technological advancements in valve design and materials.

Increasing Demand for Establishing New Power Plants across the Globe to Boost Market Growth

Industrial valves are utilized to diagnose issues and raise the power plant's overall performance efficiency. As valves are employed in safety-related applications in nuclear power plants, the demand for valves is anticipated to rise with the construction of new nuclear facilities and the renovation of existing ones. This is done to safeguard turbines and boilers from vibration or corrosion. According to the International Energy Agency, nuclear power generates around 10% of the world's electricity, with advanced economies producing almost 20% of the world's electricity. New IoT solutions are being introduced by businesses to aid industries in remotely monitoring their assets. For instance, in January 2021, Flowserve Corporation, a major supplier of flow control goods and services for the worldwide infrastructure markets, unveiled a ground-breaking IoT service to assist manufacturing facilities in remotely monitoring their assets and significantly lowering equipment failures. As fuel demand rises, numerous nations are starting new oil and gas exploration projects. This is expected to increase demand for cutting-edge valve technology. The oil and gas exploration and production sector currently makes up around 3.8% of the global economy.

Industrial Valves Market: Regional Overview

The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

Expanding Industrial Infrastructure to Drive the Market Growth in Asia Pacific Region

The industrial valves market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. One of the primary drivers of the market in the Asia Pacific region is the continuous expansion of industrial infrastructure. With the increasing industrialization and urbanization in countries like China and India, the demand for industrial valves has surged. The Asia Pacific region is witnessing robust growth in energy demand due to its burgeoning population and industrial sectors. This has led to substantial investments in power generation and distribution. Industrial valves are critical components in power plants and energy systems, and as the energy sector expands, so does the demand for valves. Rapid urbanization and industrialization in Asia are expected to lead to a 56% increase in steel demand by 2030, boosting the need for industrial valves in manufacturing and processing. Emerging economies in the Asia Pacific region, such as Indonesia, Vietnam, and Malaysia, are experiencing rapid industrialization. The need for new infrastructure, particularly in sectors like oil and gas, petrochemicals, and manufacturing, is driving the demand for industrial valves. These emerging markets are expected to be key growth contributors.

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Growing Advanced Manufacturing to Propel the Growth in the North America Region

The North America industrial valves market is estimated to garner the highest CAGR by the end of 2035. The North American manufacturing sector continues to evolve with the adoption of advanced technologies, fostering a need for innovative industrial valves. The region's manufacturing industry is projected to reach USD 2.33 trillion by 2026. The efficient control of fluids and gases is integral to this sector's growth, amplifying the demand for valves. Increasingly stringent environmental regulations are compelling industries to transition toward more sustainable and energy-efficient practices. Valves with advanced control and monitoring capabilities are gaining prominence. This transition is further fueling market growth. Substantial investments in infrastructure development, including transportation, utilities, and public facilities, are creating a steady demand for industrial valves. The integration of technological advancements, including smart valves and IoT solutions, is redefining industrial processes. The North American industrial valve market is expected to witness a substantial increase in the adoption of such advanced technologies, facilitating enhanced control and monitoring.

Industrial Valves, Segmentation by Type

  • Gate
  • Globe
  • Ball
  • Butterfly
  • Plug
  • Check
  •  Safety
  • Relief

Amongst these segments, the ball segment is anticipated to hold the largest share over the forecast period. One of the most prominent growth drivers for the ball segment is the burgeoning automotive industry. As vehicles become more sophisticated, the demand for precision and durability in components like ball bearings is on the rise. The aerospace sector is another substantial contributor to the ball segment's growth. Ball bearings are integral to aircraft components and play a vital role in ensuring safety and performance. In fact, the aerospace ball bearings industry is projected to reach USD 501 million by 2026. The rapid advancement of robotics in manufacturing and various industries has created a burgeoning need for high-precision ball bearings. Robots require reliable and efficient mechanisms for their joints and movements. The renewable energy sector, encompassing wind and solar power generation, heavily relies on ball bearings to support the smooth rotation of turbines and solar tracking systems. As the world continues to shift towards cleaner energy sources, the ball segment reaps the benefits.

Industrial Valves, Segmentation by Component

  • Actuator
  • Positioner

Amongst these segments, the actuator segment is anticipated to hold a significant share over the forecast period. Advancements in actuator technology, including miniaturization, enhanced materials, and smart actuators with IoT integration, are revolutionizing various industries. These innovations are fostering the adoption of actuators for new applications and increased efficiency. The burgeoning robotics and automation in manufacturing industries are significant growth drivers for the actuator segment. Robotics and automated machinery rely on actuators for precision control and movement. The global industrial robotics sales are projected to reach USD 75.3 billion by 2027. A chief catalyst for the actuator segment is the surge in industrial automation. As industries seek to enhance efficiency, reduce labor costs, and ensure consistent precision in processes, the demand for actuators grows. The healthcare and medical device industries are thriving, driven by an aging population and technological advancements. Actuators are integral to various medical devices, such as surgical robots, ventilators, and diagnostic equipment.

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Few of the well-known industry leaders in industrial valves market that are profiled by Research Nester are Severn Group, Total Valve Systems, Valmet, Emerson Electric Co., DomBor Valve, YUKEN KOGYO CO., LTD, Yokogawa Electric Corporation, Azbil Corporation, NACHI-FUJIKOSHI CORP, Sawamura Valve Co., Ltd., and other key market players.

Recent Development in the Market

  • The LiftTrackTM 2.0, a new, patented Pressure Safety Valve lift event indicator from Total Valve, enables users to record information on the numerous lift events that take place inside a safety valve.
  • With the addition of NelesTM Q-DiscTM, a new high-performance feature to aid flow balancing in control valve applications, Valmet is expanding the variety of butterfly valves it offers. The introduction completes the product line of the modular butterfly valve platforms NelesTM NeldiscTM and JamesburyTM Wafer-SphereTM, which were released in June 2021.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

 

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