A valve is a mechanical device that controls or regulates the flow of fluid (liquid or gas) by the action of closing and opening or partially obstructing various gateways. Valves are also used to control temperatures. In civic areas, valves are typically used to control the water supply for household applications. However, valves find applications in industrial use such as oil & gas, chemical, and more to perform crucial tasks. There are various types of valves used namely ball valve, gate valve, butterfly valve, and globe valve. Moreover, valves are used in demineralized water systems, high integrity pressure protection systems, radwaste systems in nuclear facilities, pressure control systems, on/off systems, etc.
The global Valve Market was accounted for US$ 72,862.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 6.8% for the period 2019-2027.
| Attribute | Details |
| Industrial valves Market Estimated Size in 2022 | US$ 71.8 Bn |
| Market Projected Size in 2029 | US$ 96.2 Bn |
| Industrial valves Market Historical CAGR (2014-2021) | 3.5% |
| Market Value-Based CAGR (2022-2029) | 4.2% |
COVID-19 Impact on the Global Vacuum Valve Market
The COVID-19 pandemic has affected the oil & gas industry badly, with oil prices slashing drastically. The major decline in the demand for oil and gas due to various restrictions imposed by governments worldwide in 2020 resulted in a huge gap between the supply and demand. Oil & gas is one of the key industries using valves. Water & wastewater treatment and energy & power industries are also among the key end users of valves; these industries also witnessed reduced demand due to the global pandemic. There were restrictions on foreign trades due to the lockdown of international borders, non-operational distribution channels, and various preventive measures undertaken for public health and safety. However, it is expected that there would be an increasing focus on hygiene and sanitation due to the rise in people’s concern for a better and safer lifestyle, which, in turn, would drive the growth of the industrial valves market for the water & wastewater treatment industry. An increase in demand from the energy & power sector is likely to drive the industrial valves market for the energy & power end-user industry gradually from 2021 to 2026.
Global Industrial Valves Market Segments
By Material Type
- Cast Iron
- Steel
- Alloy-Based
- Others
By Valve Type
- Ball Valves
- Butterfly Valves
- Gate Valves
- Globe Valves
- Plug Valves
- Check Valves
- Diaphragm Valves
By Application
- Oil & Power
- Water & Wastewater
- Chemical
- Food & Beverage
- Others
Key Players
The demand and necessity for a broad linked network to transport industrial equipment, combined with rapid urbanization and the creation of smart cities, will provide lucrative growth prospects for the industrial valves industry.
Dominant Key Players on Industrial Valve Market Covered are:
- Emerson (US)
- Schlumberger Limited (US)
- Flowserve Corporation (US)
- Crane Co. (US)
- AVK Holding A/S (Denmark)
- Neway Valve (Suzhou) Co. Ltd (China)
- Samson AG (Germany)
- Velan Inc. (Canada)
- Danfoss A/S (Nordborg)
Major Market Trends
Demand is up in the power sector. In the power industry, valves are used in a variety of applications, such as boiler start-up, feed pump recirculation, steam regulation, and turbine bypass.
The valves in the condensate system are used to control and regulate the additional flow required by the condensate pump for fluid recirculation. In addition, the valve is used to control the water level of the feed heater deaerator.
In drinking water systems in the power industry, valves are used for boiler feed pump recirculation. At this point, the valve plays a key start-close and flow regulation role.
In addition, in mainstream systems, valves are used for superheater, turbine bypass, superheater bypass, etc. The regulating valve is used to control pressure.
In December 2017, the United States had 61 nuclear power plants and 99 nuclear reactors in service. The government also plans to build more new reactors to boost nuclear power generation. Four new nuclear plants are expected to be operational in the United States by 2021.
Demand for cooling water treatment chemicals is also being driven by the government’s drive to increase capacity at power plants across the United States. All these factors will stimulate the demand for valves in the power industry.
Asia Pacific leading market
In 2017, the Asian-pacific region captured the major global market share. The use of industrial valves in the region is increasing as economies such as China, India and Japan increase investment in the oil and gas sector and demand for water treatment continues to rise.
The high consumption of industrial valves in the oil and gas industry in the United States and the increasing production in the downstream industry will further increase the production capacity of petrochemical products, thus stimulating the consumption of industrial valves in the country.
Chemical plants are another important industry in China. Many big companies in the industry have their own chemical plants in China. These companies increased capacity, which increased the consumption of industrial valves. Water treatment facilities for different industries are also another important industry in China.
How Will Adoption of Industrial Internet of Things Affect Industrial Valves Marker?
Valves have become an indispensable component of industrial structures. They play a critical role in controlling the flow of materials across various industries. Failure of valves can however result in disruption of plant processes and unforeseen hazards. As a result, proper inspection of industrial values is important.
Recent technological advancements have enabled companies to leverage modern technologies such as artificial intelligence (AI) and IIoT technology for minimizing the unplanned downtime and other unfavorable incidents due to valve failures. These valve technologies aid the experts in monitoring the health and condition of industrial valves from a remote location.
