The Industrial Valves market is anticipated to grow with a CAGR of 12.3% over the forecast period of 2019-2028. Industrial valves are devices that are widely used to regulate the flow of liquids, gases, and slurries in the manufacturing processes. These valves are fixated in the pipes and other passageways in the manufacturing units, which help in partially blocking the openings and closings. The rising demand for industrial valves in various industries and the growing need for smart valves to control flow are expected to be some major factors driving the market intensely.

Top Driver: Increasing Demand For Valves in Oil and Gas, Wastewater and other Insutries to drive the market

The Industrial Valves are quite important components used in the oil and gas industries since they help to maintain the flow of various liquids and gases. The oil and gas industries are growing their focus on developing pipeline systems for gas delivery. Hence these industries are expected to anticipate the use of valves in the market extensively. Furthermore, this industry is considered to be an important source and hence is further expanding across various regions, ultimately leading the industrial valves market towards growth. Moreover, the growing advancements in the wastewater management also demand the wide use of smart and controlled valves contributing to the market growth.

However, stringent government regulations and various fluctuations among costs for raw materials could be some factors that could hamper the market widely. Also, the growing concerns to avoid usage of renewable resources such as coal may also be a restraint for the industrial valves market.

Ball Valves Market is Expected to Contribute to the Market Extensively

Based on the type, the industrial valves market is segmented into ball valves, butterfly valves, check valves, diaphragm valves, and others. The ball valves are expected to hold the largest share in the market owing to their capability to seal the openings better as compared to the other valves. Furthermore, these valves provide better shut down in systems such as hydraulic systems. Also, the ball valves are known to be available in various sizes, that could be fit to the diameters of different pipes widely. Other segments such as butterfly valves and diaphragm valves are also used widely after the ball valves.

 Based on end-users, the global Industrial Valves market has been segmented as oil and gas, Energy & Power, Chemicals Water & Wastewater Treatment, Metals & Mining, Food & Beverages and Others. The oils and gas industry counted for th largest share, followed by wastewater management and later by chemicals segment.

The Rising Demand for Develpoment in Manufacturing and R&D Processes in Asia Pacific to Contribute to the Growth of the Market

The Asia Pacific held the highest market share in the industry due to the growing development in the research and development activities in various industries across the region. Furthermore, the strong presence of various key players in the region could be a driving factor for the market. Also, the rising initiatives taken for the safety of the workers working in the industries such as chemicals and oil and gas, smart valves are widely being implicated in the region. Europe accounted for the second-largest share in the market and Noth America was considered to grow at a high CAGR in the market.

Players to Focus on Application of New Technology in the Market

The global Industrial Valves market is expected to grow with a significant CAGR due to presence of various companies including Emerson Electric, Pentair PLC, Flowserve Corporation, Cameron International, Camtech Manufacturing FZCO, KSB AG, CIRCOR International, Delta-Pacific Valves Ltd., Goodwin PLC and GWC Valve International Inc. among others.

Emerson:  The company announced Remote Assistance that used the Augmented Reality (AR) technology to assist the workers for immediate response to the issues occurring in industrial valves in April 2020.

Furthermore, Emerson went with mergers and acquisitions to improve its position in the market. For instance, Advanced Engineering Valves which is a leading company involved in innovative valve technology from Belgium was acquired by Emerson in December 2018.

Scope of the Report

By Type

• Ball Valves
• Butterfly Valves
• Diaphragm Valves
• Check Valves
• Plug Valves
• Globe Valves

By Material

• Steel
• Cryogenic
• Alloy Based
• Iron
• Others

By End-User

• Oil & Gas
• Energy & Power
• Chemicals
• Water & Wastewater Treatment
• Metals & Mining
• Food & Beverages
• Others

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.