Industrial Valve Market

Industrial Valve Market Outlook for 2024 to 2034

The Industrial Valve Market is expected to be valued at around USD 81.55 billion in 2024. Due to the increasing usage of industrial valves to control the flow of materials, the demand is expected to develop at a moderate CAGR of 4.2% between 2024 and 2034, reaching a worth of USD 123.05 billion by 2034.

The primary aspects propelling the growth of the industrial valve market are

• the expanding healthcare and pharmaceutical industries' demand for valves
• the global development of smart cities,
• the quick development of connected networks to track valve conditions and anticipate system failures

Attributes	Details
Industrial Valve Market Value for 2024	USD 81.55 billion
Industrial Valve Market Value for 2034	USD 123.05 billion
Industrial Valve Market Forecast CAGR for 2024 to 2034	4.2%

Sales Analysis of Industrial Valves

• The demand for industrial valves is driven by the use of these high-functioning metal alloys. They are the main components of industrial valves, used in various industries to provide effective control of gases, liquids, and vapors through effective flow control.
• Industrial valves are crucial for controlling the flow of liquids, gases, and slurries in various global production sectors. Global demand is driven by their extensive usage in the oil and gas, food and beverage, energy, utilities, and water treatment industries.
• One of the main reasons propelling the industrial valve market's expansion is the rise in infrastructure-related projects. The growth in infrastructure-related projects increases demand for industrial valves. This raises the level of private participation in infrastructure (PPI) and requires more investment.
• The industrial valve market is predicted to expand due to enhanced equipment performance, longer lubricant life, and lower repair costs. This growth is also driven by the advancement of industrial equipment in various manufacturing industries.
• The market is anticipated to rise within the subsequent decade due to the use of Industry 4.0 and IoT in industrial valves. Additionally, the increase in petrochemicals and refineries, along with the usage of 3D printing in valve manufacturing, is likely to contribute to this growth.

Historical Performance and Future Growth of the Industrial Valve Market

This study examines the industrial valve market's growth over the past five years, revealing a historical CAGR of 3.40%. Additionally, it projects a 4.20% CAGR growth up to 2034, indicating a growing trend in the valve solutions market.

Attributes	Details
Industrial Valve Market Historical CAGR for 2019 to 2023	3.40%

Valve manufacturers require assistance due to poor quality and delayed delivery, which worsen customer unhappiness even if outsourcing might save money. This variation in product specifications, driven by regional certifications and rules, stifles market growth and makes it challenging for manufacturers to reach optimal installation costs.

Critical aspects that are anticipated to influence the demand for industrial valves through 2034 are:

• The global expansion of industrial infrastructure presents a significant opportunity for valve manufacturers to adopt smart technologies for automation and remote monitoring, improving efficiency and safety.
• The growing focus on sustainability has heightened demand for energy-efficient and eco-friendly valve solutions. This is prompting manufacturers to prioritize their development to meet market demands and reduce environmental impact.
• Valve manufacturers are able to capitalize on global industrial infrastructure expansion by adopting smart technologies and developing energy-efficient solutions, ensuring competitiveness in a dynamic marketplace.

Market players are going to desire to be prudent and flexible over the anticipated period since these challenging attributes position the industry for accomplishment in subsequent decades.

Key Trends Influencing the Industrial Valve Market

Rising Utilization of IoT Devices Drives the Demand for the Industrial Valves

• Incorporating IoT sensors in industrial valves has enabled monitoring of real-time performance and operating conditions. This is leading to predictive maintenance, reduced downtime, and increased operational efficiency.
• IoT-enabled valves improve safety and responsiveness through remote monitoring. This enables proactive decision-making and resource allocation, driving demand across various sectors.
• Integrating IoT technology in industrial valves revolutionizes safety, responsiveness, proactive decision-making, and resource allocation. This is driving growth of the industrial valve market.
• Industrial valves with IoT sensor integration have greatly increased plant automation and productivity. As a result, IoT-enabled valves are becoming increasingly popular, driving up demand for industrial valves.

Growing Need for Novel Power Plants Pushes the Demand for Industrial Valves

• Advanced nuclear reactors and renewable energy facilities are examples of modern power plants that need specific valves to regulate fluid flow and pressure.
• The demand for high-performance industrial valves in manufacturing processes has increased since these valves guarantee safe and effective operation in a variety of power-generating processes.
• An increase in expenditures on clean energy initiatives is driving the need for valves that can withstand certain conditions, such as corrosive environments and high temperatures.
• The need for industrial valves designed specifically for contemporary power plants' requirements is driven by the global growth of electricity infrastructure, particularly in emerging nations.

Global Development of Smart Cities Propels the Industrial Valve Market

• Smart city projects have increasingly relied on advanced infrastructure systems incorporating industrial valves for efficient water management, heating, ventilation, air conditioning (HVAC), and waste treatment.
• Integrating Internet of Things (IoT) sensors and automation technologies in urban utilities has further amplified the need for smart industrial valves for optimal monitoring and control.
• Smart water management initiatives necessitate precision valves for water flow regulation, leak detection, and network optimization. Intelligent valves with remote monitoring capabilities enhance infrastructure efficiency and reliability in smart cities.
• The growth in urbanization and population has been a driving force behind the rise of smart city projects. As such, industrial valve manufacturers now have a significant market opportunity to capitalize on the demand for industrial valves in smart city projects.

Category-wise Insights

This section offers in-depth analyses of particular industrial valve markets in different categories. The two main topics of the research are the segment with the ball valve as a valve type and the cast steel as a valve material. Through a comprehensive examination, this section attempts to provide a fuller knowledge of these segments and their relevance in the larger context of the valve industry.

Ball Valves Wreaks the 24.50% Global Market Share

Attributes	Details
Top Valve Type	Ball
Market share in 2024	24.50%

The demand for ball valves is significant, registering a market share of 24.50% in 2024; the following aspects display the development of the ball valve market:

• The demand for ball valves is significant in several industries, such as oil and gas, food and beverages, and others.
• The ball valves are significantly divided into trunnion, floating, and threaded series ball valves, which are in high demand in the global market.
• The demand for ball valves is growing since these are available in various sizes and materials, including stainless steel, brass, and PVC. They can accommodate diverse operational needs and environmental conditions, contributing to their popularity.
• Ball valves offer precise flow control, making them ideal for applications requiring tight shut-off and throttling capabilities. This is leading to an increased demand for ball industrial valves.
• Competitive pricing combined with long-term reliability makes ball valves a cost-effective choice for many industrial applications, driving their high demand in the market.

Cast Steel Industrial Valves Cut the Piece of 35.40% Market Share Globally

Attributes	Details
Top Material	Cast Steel
Market share in 2024	35.40%

Industrial valves made up of cast steel acquire a 35.40% market share in 2024. The development of cast steel valves from the following drivers:

• Because of its exceptional strength and durability, cast steel is in high demand and is perfect for high-pressure and high-temperature applications.
• The application of cast steel materials is significant as they resist corrosion, ensuring longevity and reliability in harsh operating environments.
• Cast steel valves are witnessing high adoption and are expected to be used in a wide range of sectors, such as power generation, chemicals, and oil and gas.
• Cast steel valves often meet or exceed industry standards for performance and safety, contributing to their high demand in the global market.

Country-wise Insights

This section examines different regional markets for industrial valves in some of the most important countries on the global stage, such as the United States, China, Germany, India, and South Korea. Through in-depth research, explore the several aspects influencing these nations' acceptability and demand for valves.

Countries	Forecasted CAGR from 2024 to 2034
United States	3.40%
Germany	3.60%
India	4.70%
China	5.10%
South Korea	4.20%

The United States Automation Sector Mounts Demand for Automatic Industrial Valves

The United States automation sector has developed a huge demand for automatic industrial valves. Therefore the market in the United States is projected to register a CAGR of 3.40% from 2024 to 2034. Here are a few of the key trends:

• In the United States, the rise of Industry 4.0 principles prompts increased adoption of automatic valves to achieve interconnected and intelligent manufacturing systems.
• The automation sector in the United States drives demand for automatic industrial valves to streamline production processes.
• The demand for automatic valves is high in the United States, as it improve operational efficiency by enabling remote control and automation of fluid flow.

Adoption of Industrial Valves Cultivates in Germany’s Booming Automobile Sector

Demand for industrial valves in Germany is expected to develop at a CAGR of 3.60%. The following factors are propelling the demand for industrial valves in the automobile sector:

• Industrial valves are crucial in integrating advanced systems like fuel injection, exhaust gas recirculation, and turbocharging in German automobiles.
• Germany-based luxury automakers demand high-quality industrial valves for precise fluid control in automotive systems, which assists in the market expansion of luxury cars.
• Demand for industrial valves is significant in Germany as they contribute to optimizing engine performance, fuel efficiency, and automobile emissions control.
• Germany’s automakers demand industrial valves that meet high-quality standards for reliability and durability, aiming to minimize workflow errors.

Industrialization in India Increases Integration of Industrial Valves in Different Sectors

India stresses technological development of industrial valves. The demand for industrial valves in India is predicted to extend at a CAGR of 4.70% between 2024 and 2034. Some of the primary trends in the industry are:

• India's industrialization efforts drive demand for industrial valves to support the development of infrastructure projects such as power plants, refineries, and water treatment facilities.
• Rapid urbanization in India increases demand for industrial valves in urban infrastructure projects, including water distribution networks, wastewater treatment plants, and HVAC systems.
• The growth of manufacturing industries in India, such as automotive, chemical, and pharmaceutical sectors, fuels the integration of industrial valves in production processes for fluid control and automation.

China’s Enormous Manufacturing Sector Creates Lucrative Demand for Industrial Valves

The demand for industrial valves in China is expected to register a CAGR of 5.10% from 2024 to 2034. Some of the primary trends are:

• China's infrastructure projects, including the construction of power plants, refineries, and water treatment facilities, require many industrial valves for fluid control and regulation.
• Factories in China use economies of scale and aggressive price tactics to attract foreign customers by capitalizing on the global need for inexpensive industrial valves.
• To fulfill national and international norms and criteria, China-based manufacturers spend money on research and development to innovate and enhance the quality and performance of industrial valves.

South Korea’s Power Generation Sector Upswings the Demand for Industrial Valves

The industrial valve industry in South Korea is expected to register a CAGR of 4.20% by 2034. Among the primary drivers are:

• South Korea's power generation sector is undergoing modernization efforts. This is increasing demand for industrial valves to upgrade existing infrastructure and adopt advanced technologies.
• The adoption of specialized industrial valves that can endure high temperatures and pressures in nuclear reactor systems is augmented by South Korea's reliance on nuclear power.
• Utilizing premium industrial valves is a top priority for South Korean power-generating companies, as it guarantees effective operation, reduces downtime, and improves system dependability.
• Leveraging the nation’s reputation for high-quality manufacturing, South Korea-based industrial valve producers profit from the global need for dependable and technologically sophisticated valves, which has created export prospects.

Market Players are Shaping the Outlook of the Global Industrial Valve Market

Market players continuously work to strengthen their market positions in the fiercely competitive industrial valve market. Leading companies use a range of strategic efforts, including partnerships, collaborations, mergers and acquisitions, ongoing innovation, and strategic alliances with distributors, suppliers, or service providers, to accomplish the goal.

Companies are anticipated to fortify their position through mergers and acquisitions by gaining access to new markets and technology, growing their product portfolios, and purchasing complementary firms. By collaborating with other market participants, businesses may grow their market share and strengthen their competitive advantage.

Partnerships and collaborations allow firms to pool resources, share expertise, and accelerate innovation. By collaborating with industry players, companies can develop new valve technologies that address evolving customer needs, resulting in more efficient, reliable, and cost-effective valves.

Continuous innovation is another key factor driving growth in the industrial valve market. Companies invest heavily in research and development to design new valve technologies that can improve performance and reliability. This includes developing new valve designs, materials and features likely to help address customers' changing needs.

Strategic alliances with suppliers, distributors, or service providers enhance companies' distribution networks, market access, and customer service. These alliances enable them to reach new customers, expand their market presence, sustain growth, and maintain a competitive edge in a dynamic market.

Recent Developments in the Industrial Valve Market

• In February 2024, Beijer Tech, a subsidiary of Beijer Alma, agreed to acquire 100% of AVS Power Oy, a Finnish technical wholesaler and manufacturer of pneumatics, industrial valves, and compressors. The acquisition aligns with Beijer Alma's value-adding strategy and is expected to boost earnings per share slightly.
• In February 2024, Canada-based NDL Industries introduced its largest-diameter stainless-steel ball valve for industrial or large commercial transcritical CO2 systems. Rated for 120 bar and a temperature range of -40 to 150°C, the valve is the first CRN-approved for transcritical CO2.
• In November 2023, Tecnik Fluid Controls formed a joint venture with United States-based ITT Industries Inc. to manufacture industrial valves for the pharmaceutical industry in India. ITT invested in the project and transferred the necessary technology.
• In July 2023, BDK Valves and Gurukrupa Group acquired a 100% controlling stake in Theis Precision Steel India Pvt. Ltd., a specialty cold rolling company specializing in high and medium-carbon steels in India. Theis Precision caters to various market segments and offers customized solutions.

Key Companies in the Industrial Valve Market

• GE Company
• Emerson
• Flowserve Corporation
• Schlumberger Limited
• TechnipFMC Plc
• KSB SE & Co. KGaA
• KITZ Corporation
• Alfa Laval Corporate AB
• Curtiss-Wright Corp.
• CIRCOR International, Inc.
• Oilwell Varco, Inc.
• Weir Group Plc.
• Neway Valves
• AVK International A/S
• Flowserve Corporation
• LESER GmbH & Co. KG

Key Coverage in the Industrial Valve Market Report

• Global Valve Industry Sales Analysis Graph
• Emerging Technologies in Valve Solutions in the United States
• Top 10 Emerging Trends in the Industrial Valve Market
• Impact of Automation on Valve Industry on Different Sectors in the United States
• Sales Assessment of Valve Manufacturers and Suppliers Overview
• Price Analysis of Growth Outlook of the Industrial Valves

Key Segments

By Valve Type:

• Gate
  • Parallel
  • Wedge
• Globe
  • Tee
  • Angle
  • Wye
• Ball
  • Trunnion
  • Floating
  • Threaded Series
• Butterfly
  • High Performance
  • Lined
• Plug
  • Lined
  • Lubricated
  • Non-Lubricated
• Check
  • Dual Plate
  • Piston Lift
  • Spring Loaded Disk
  • Swing Check
  • Tilting Check
  • Y Pattern
  • T Pattern
• Safety Relief
  • Spring Loaded
  • Pilot Operated
• Other Customized

By Valve Material:

• Cast Steel
• Carbon Steel
• Stainless Steel
• Bronze
• Others

By Function:

• Manual
• Automatic

By End-use Industry:

• Oil & Gas
• Chemical
• Water & Wastewater Treatment
• Power Plants
• Paper & Pulp
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

How Big is the Industrial Valve Market?

The industrial valve market is set to be valued at USD 81.55 billion in 2024.

What is the Future of the Industrial Valve Market?

By 2034, the industrial valve industry is anticipated to be valued at USD 123.05 billion.

What is the Growth Outlook for the Industrial Valve Market?

The industrial valve industry is anticipated to expand at a CAGR of 4.2% from 2024 to 2034.

Which of the Industrial Valves Material is in demand?

The demand for industrial valves made up of cast steel witnesses high demand, with a market share of 35.40% in 2024.