The global gate valve market size recorded sales of USD 12.9 billion in 2018. The market is poised to hold a revenue of USD 14.8 billion in 2023. In the assessment period 2023 to 2033, revenue is set to propel at 5.0% CAGR. It is expected to result in a sum of USD 24.3 billion by the end of 2033.
Prominent players operating in the global market are targeting the offshore and chemical gate projects in order to expand their share in the gate valves space. Key players involved in the market are continuously focusing on the development of new products, as well as merger activities with prominent end-users of gate valves.
Due to its corrosive nature, valves in water applications might represent a challenge. End-use sectors often prefer valves made of corrosive-resistant materials. It includes ductile iron and bronze as they are cost efficient on maintenance and prevent equipment failure.
The oil & gas sector is a key consumer of gate valves for drilling, production, and transportation processes. With continuous exploration of new oil & gas reserves, demand for gate valves is expected to rise during the forecast period.
Various existing gate valves in sectors and infrastructure systems might reach the end of their operational lifespan and require replacement or upgrading. This is set to create a constant demand for new gate valves, especially in developed economies with aging infrastructure.
Growing concerns over water scarcity and need for efficient water management systems are also expected to boost growth. These are likely to drive the demand for gate valves for use in water distribution, treatment, and conservation applications.
Sectors are increasingly focused on energy-efficient operations, and hence adhering to strict environmental regulations. Gate valves with advanced designs and features might help improve energy efficiency and reduce environmental impact, leading to their higher adoption.
Introduction of innovative gate valve designs such as smart valves with monitoring and control capabilities is another vital market driving factor. These designs might provide better efficiency and ease of operation, further attracting more customers to upgrade their existing systems.
Rapid industrialization and infrastructure development in emerging economies might fuel the demand for gate valves, as these countries invest in modernizing their facilities and utilities. Interconnectedness of economies and international trade can lead to increased demand for gate valves in various sectors, both for domestic use and export purposes.
A Few Key Factors Driving Gate Valve Demand Worldwide:
| Attributes | Key Insights |
|---|---|
| Gate Valve Market Estimated Size (2023E) | USD 14.8 billion |
| Projected Market Valuation (2033F) | USD 24.3 billion |
| Value-based CAGR (2023 to 2033) | 5.0% |
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The global gate valve market is poised to extend at 5.0% CAGR over the forecast period. During the historical period between 2018 and 2022, sales had escalated at 4.8% CAGR.
Technological advancements are expected to influence the demand for gate valves during the forecast period. For instance, increasing use of advanced automated solutions is set to enable the production of more complex and customized gate valves.
It is, in turn, expected to drive demand for gate valves that can produce high-quality components with complex geometries. Development of smart gate valves that can sense and monitor fluid flow & pressure is one such trend that is gaining traction.
Growing application in various sectors, especially in oil & gas, water & wastewater treatment, chemical & petrochemical, mining, and HVAC is another factor that might propel demand. Consumption of oil & gas is rising rapidly in numerous parts of the world.
According to the United States Energy Information Administration (EIA), global consumption of petroleum and liquid fuels is increasing every year. As a result, oil refineries are being constructed around the world.
As oil refineries produce highly flammable and combustible products, risk of fire incidents is increasing. It is expected to push the installation of robust fire protection systems.
Installation of fire prevention systems, which comprise valves and sprinklers, helps to reduce the risk of fires in oil & gas refineries. For instance, in fire risk zones, a deluge valve is critical for supplying a significant amount of suppressants in case of an emergency.
Valves deliver enormous amounts of water in a short amount of time. It also helps in reducing the possibility of a fire spreading to other parts of the refinery.
The mining sector is estimated to witness a positive growth outlook after the recovery of the global economy. Cost reduction is important for mining to stay profitable.
Workers feel uncomfortable when they work in deep mine coals. This is due to the presence of harmful gases. Also, failure rate of conventional equipment can increase due to abnormal pressure and temperature. Demand for specialized equipment and parts such as highly advanced gate valves is hence increasing at an accelerated rate.
Water and Wastewater Treatment:
The water and wastewater treatment sector has been witnessing steady growth. It is anticipated to create a surging demand for gate valves to control and manage water flow in various treatment processes.
Infrastructure Development:
Infrastructure development in emerging economies and ongoing infrastructure upgrades in developed countries have been contributing to rising demand for gate valves. These are expected to augment demand in sectors such as construction, power generation, and municipal utilities.
Technological Advancements:
Manufacturers are expected to focus on research & development to introduce innovative gate valve solutions such as smart valves. These can be remotely controlled and monitored, leading to increased efficiency and reduced downtime.
Rising Importance of Industrial Safety:
Sectors are increasingly emphasizing safety and environmental regulations. It is likely to lead to the adoption of reliable and robust gate valves for various industrial applications.
Principal Consultant
Manufacturers of gate valves are facing various challenges related to the development of their devices. Adhering to the strict environmental and governmental regulations might be a key restraint for growth. It includes the Japanese Industrial Standards (JIS), American Society of Mechanical Engineers (ASME), and Society of Automotive Engineers (SAE).
Gate valves compliant with various standards might find larger adoption compared to general valves. Various manufacturers are focusing on international & regional governmental standards and regulations. It is considered one of the threatening factors for growth in the gate valve market.
The United States and Canada to be the Hub of Leading Gate Valves Manufacturers
The United States is projected to create an incremental opportunity of USD 1,696.5 million in 2023. It is poised to reach a valuation of USD 4,575.4 million by the end of 2033.
The United States has been one of the top oil and gas producers globally. Their extraction process involves extensive use of gate valves. These are used to control the flow of fluids in pipelines and drilling operations.
Canada gas valve market, on the other hand, is projected to create an absolute $ opportunity of USD 618.9 million in 2023. By 2033, it is set to cross about USD 1,399.3 million.
Canada is rich in natural resources such as oil & gas, minerals, and water. Gate valves are commonly used in sectors related to oil & gas, extraction, mining, and water infrastructure.
Having abundant access to these resources could give Canada-based companies a competitive edge in producing and supplying gate valves. Favorable trade agreements with other countries can also facilitate the export of gate valves and create new opportunities.
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Wedge Gates Valves to Gain Impetus amid Increasing Need for Leakage Prevention
By disc type, the wedge gate valves segment is observed to account for a prominent market share of 45.4% in 2023. Wedge gate valves are projected to create an absolute dollar opportunity of USD 4,642.8 million in 2023. It is set to exceed a value of USD 11,385.8 million by 2033.
Wedge gate valves provide excellent sealing capabilities, ensuring a tight shut-off and minimal leakage. This might make them highly desirable in applications where leakage prevention is critical.
Wedge gate valves are often made of robust material such as stainless steel and cast iron. It enhances their durability and long-term performance. This might also make them suitable for various sectors, including oil & gas, water treatment, and chemical processing.
Oil & Gas Sector Worldwide to Surge the Need for Advanced Gate Valve and Parts
Based on end use, the oil & gas segment is projected to create an absolute dollar opportunity of USD 2,634.9 million in 2023. It is set to cross a value of USD 6,245.4 million by the end of 2033.
Demand in the oil & gas sector is mainly driven by need for reliable and robust valves that can handle high pressures. Gate valves are often preferred in critical applications where a tight shut-off is necessary to prevent leaks.
The oil & gas sector is one of the leading consumers of gate valves. These valves are used extensively in exploration, refining, and transportation processes. Continuous demand in the oil & gas sector worldwide might further push demand for reliable and efficient gate valves.
Key manufacturers are focusing on continuous product innovation to develop gate valves with enhanced features. They are expected to incorporate features to improve efficiency and deliver better performance. This could involve using advanced materials, incorporating smart technologies, and optimizing valve design to meet specific industry requirements.
Recent Developments:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 14.8 billion |
| Projected Market Valuation (2033) | USD 24.3 billion |
| Value-based CAGR (2023 to 2033) | 5.0% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD billion) |
| Segments Covered | Disc Type, Valve Material Used, Size, End Use, Size, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Key Companies Profiled | Emerson Electric Co.; Flowserve Corporation; AVK Holding A/S; Velan Inc.; DeZURIK Inc.; Zhejiang Zhongcheng Valve Co. Ltd.; Crane Co. Ltd; Tecofi; Weir Group PLC; Bray International; Others |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
The global sales of gate valves are poised to surge at 5% CAGR through 2033.
The global market could have a value of around USD 14.8 billion in 2023.
The United States is the most lucrative market valued at USD 1,696.5 million in 2023.
The overall market witnessed a growth of 4.8% per year from 2018 to 2022.
The wedge gate valve segment is expected to contribute USD 11,385.8 million by 2033.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD million) Analysis 2018 to 2022 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Disc Type 9.1. Wedge Gate Valve 9.1.1. Solid Wedge 9.1.2. Flexible Wedge 9.1.3. Split Wedge 9.2. Parallel Slide Gate Valve 9.3. Knife Gate Valve 9.4. Slab 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Valve Material Used 10.1. Cast Iron 10.2. Steel 10.2.1. Carbon Steel 10.2.2. Stainless Steel 10.2.3. Alloy Steel 10.2.4. Cast Steel 10.3. Brass 10.4. Bronze 10.5. Plastic 10.5.1. PVC 10.5.2. CPVC 10.5.3. PP 10.5.4. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Size 11.1. 0.25 inch to 2 inch 11.2. 3 to 12 inch 11.3. 14 to 30 inch 11.4. Above 30 Inch 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 12.1. Oil & Gas 12.1.1. Upstream 12.1.2. Midstream 12.1.3. Downstream 12.2. Water and Wastewater Treatment 12.2.1. Flow control 12.2.2. High-pressure Applications 12.2.3. Corrosive Fluid Handling 12.2.4. Others 12.3. Chemical and Petrochemical 12.4. Power Generation 12.4.1. Steam System 12.4.2. Cooling Water 12.4.3. Fuel Supply System 12.4.4. Others 12.5. Mining and Minerals 12.6. HVAC 12.7. Marine and Shipbuilding 12.8. Others 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 13.1. North America 13.2. Latin America 13.3. Western Europe 13.4. Eastern Europe 13.5. Middle East and Africa 13.6. East Asia 13.7. South Asia and Pacific 14. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Country Wise Market Analysis 22. Market Structure Analysis 23. Competition Analysis 23.1. Bray International 23.2. DeZURIK, Inc. 23.3. Emerson Electric Co 23.4. Valmet 23.5. ITT INC 23.6. ORBINOX 23.7. SISTAG AG 23.8. Stafsjö Valves AB 23.9. Tecofi 23.10. Weir Group PLC 23.11. Velan Inc. 23.12. Flowserve Corporation 23.13. Crane Fluid System 23.14. KITZ Corporation 23.15. AVK International 23.16. Xiamen Landee Industries Co., Ltd. 23.17. SAMSON CONTROLS PRIVATE LIMITED 23.18. NIBCO INC. 23.19. ZheJiang ZhongCheng Valve CO., LTD. 23.20. BABCOCK VALVES S.A. 24. Primary Insights 25. Assumptions and Acronyms Used 26. Research Methodology
Industrial Automation
October 2022
REP-GB-15644
141 pages
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Gate Valve Market
