According to IMARC Group’s latest report, titled “Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global industrial valves market size reached US$ 64.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 97.19 Billion by 2027, exhibiting at a CAGR of 7.3% during 2022-2027.
Industrial valves are electromechanical devices that regulate the flow of liquids, gases, and slurries in a pipeline. They are manufactured using stainless steel, cast iron, carbon steel, and alloys. Gate, globe, butterfly, ball, check, and plug are some common valves used in industries. They are primarily used to control the flow rate, prevent reverse flow in pressurized conditions, and protect equipment from high-pressure damage. As a result, industrial valves find extensive applications in the power, oil and gas, refinery, wastewater treatment, chemical, food and beverage (F&B), and pharmaceutical industries.
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Market Trends and Drivers:
The global industrial valves market is primarily being driven by the increasing adoption of industrial automation solutions to achieve higher efficiency, position accuracy, and reliability at comparatively lower energy consumption. Additionally, the integration of artificial intelligence (AI) and smart control sensors and the rising adoption of diagnostic studies in industrial valves to monitor temperature and flow rates, minimize fabrication costs, and reveal potential damages are providing an impetus to the market growth. Other factors, including the increasing number of oil and gas, hydropower, nuclear, and thermal power plants due to rising energy demands and the growing need for improved wastewater treatment systems, are propelling the market growth.
Industrial Valves Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the industrial valves market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
AVK Holding A/SCameron International Corporation (Schlumberger)The Crane CompanyEmerson Electric Co.Flowserve CorporationForbes MarshallIMI PlcKitz CorporationNeway Valves (Suzhou) Co. Ltd.Samson AGVelan Inc.Key Market Segmentation:
The report has segmented the global industrial valves market based on product type, functionality, material, size, end use industry and region.
Breakup by Product Type:
Gate ValveGlobe ValveButterfly ValveBall ValveCheck ValvePlug ValveOthersBreakup by Functionality:
On-Off / Isolation ValvesControl ValvesBreakup by Material:
SteelCast IronAlloy BasedOthersBreakup by Size:
Up To 1”1”-6”7”-25”26”-50”51” and AboveBreakup by End Use Industry:
Oil and GasPowerPharmaceuticalWater and Wastewater TreatmentChemicalFood and BeverageOthersBreakup by Region:
North AmericaAsia PacificEuropeLatin AmericaMiddle East and AfricaAsk Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2790&flag=C
Key Highlights of the Report:
Market Performance (2016-2021)Market Outlook (2022-2027)Market TrendsMarket Drivers and Success FactorsImpact of COVID-19Value Chain AnalysisComprehensive mapping of the competitive landscapeIf you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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