According to Fact.MR, a market research and competitive intelligence company, the global Industrial Valves Market is anticipated to be worth more than $79.4 billion by the end of 2030, growing at a 3.3% CAGR.
Industrial valves are devices used to control the flow, pressure, and direction of fluids in a variety of industries. What distinguishes them is their capacity to provide exact control over fluid movement, making them excellent for applications requiring accuracy. These valves are versatile and can be used for a variety of applications, ranging from simple on/off control to more complicated functionalities. They are well-known for their durability, dependability, and unique designs that cater to specific requirements. Industrial valves frequently include automation, which allows for remote control and monitoring, hence increasing operating efficiency.
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The Industrial Valves Market is being driven by expanding industrial sectors such as oil and gas, water treatment, and manufacturing. The growing demand for industrial valves is intimately related to ongoing process optimization projects, automation trends, and the incorporation of smart technology into industrial operations.
Global economic shifts, on the other hand, have an impact on how much construction and manufacturing occurs, hence influencing demand for industrial valves. Economic slowdowns result in reduced investment in projects using these valves, posing a challenge to the market. Another challenge is cyclical demand in key industries such as oil and gas, electricity generation, and chemicals.
Key Takeaways:
- Oil and gas industrial valves are predicted to provide an absolute potential of $7.7 billion and a CAGR of 3.5% by the end of the projection period.
- An increase in the oil and gas industry is predicted to enhance sales of these industrial valves.
- The Asia Pacific area, excluding Japan, is expected to be the fastest-growing due to investments in oil and gas and increased need for water treatment. APEJ is estimated to generate an absolute dollar potential of $11.2 billion over the projection period.
- Furthermore, European industrial valves are expected to represent for more than one-quarter of the total absolute dollar opportunity by the end of 2030.
The business is being driven by a boom in industrialization and infrastructural development, an increasing emphasis on energy efficiency, and the growing adoption of process automation in numerous industries-Β Says FACTMR Expert
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Top Fortune Companies Profiled in This Report
- Emerson Electric
- KITZ Corporation
- Schlumberger Limited
- Flowserve Corporation
- Watts Water Technologies
- Weir Group Plc.
- Technip FMC Plc.
- KSB SE & Co. KGaA
- Alfa Laval Corporate
Market Competition
To maintain their market position in today's highly competitive environment, prominent manufacturers pursue strategic acquisitions and geographic expansion.
- In December 2022, KSB SE & Co. KGaA developed a line of diaphragm valves made with additive printing/3D printing. These valves, made from a specifically alloyed material, are intended for use in the pharmaceutical industry.
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Winning strategies
Successful companies concentrate on developing high-performance valves tailored to specific industries. These companies improve functionality and efficiency by tailoring valves to fit the specific needs of industries such as oil and gas, power generation, and chemicals.
The market is trending towards the use of Internet of Things (IoT) and automation technologies. This includes adding sensors to valves and enabling remote monitoring, resulting in advanced, smart valve solutions.
A effective market strategy entails putting environmental monitoring elements into valves. This breakthrough helps enterprises meet severe environmental standards and achieve sustainability goals.
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