Industrial Valve Market Size Projected to Reach 95.07 billion, at a CAGR of 6.10% by 2030

Industrial Valve Market Growth Boost by Rising Need of Uninterrupted Electrical Power For Operation Of Commercial Centres And All Associated Infrastructure

New York, US, May 15, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), "Industrial Valves Market Research Report Information by Material, Type, Region, End-Users, and Application - Forecast Till 2030", the global Industrial Valves market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 6.10%. The reports further predict the market will acquire nearly USD 95.07 billion by the end of 2030. As per the documents, the Industrial Valves market was valued at nearly USD 59.2 billion in 2022.

Industrial Valve Market Overview:

Valve applications in the power sector include parts such as steam regulation, boiler start-up, feed pump recirculation, and turbine bypass. Valves are deployed in water systems to recirculate boiler feed pumps for the power industry. The global Industrial Valves industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the rise in infrastructure-related activities.

Competitive Analysis

The listing of the prominent leaders across the global industrial valve market includes players such as:

Dwyer Instruments Inc. (US)

Velan Inc. (Canada)

Emerson (US)

Samson AG (Germany)

Schlumberger Limited (US)

Conbraco Industries Inc. (US)

IMI PLC (US)

Neway Valve (Suzhou) Co. Ltd (China)

Flowserve Corporation (US)

Kitz Corporation (Japan)

Weir Group (UK)

AVK Holding A/S (Denmark)

Crane Co. (US)

Forbes Marshall (India)

Danfoss A/S (Nordborg)

Avcon Controls (India)

PR Valves LLC (US)

Dwyer Instruments (US)

Among others.

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Industrial Valve Market USP Covered

Market Drivers

The global Industrial Valves industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the rise in infrastructure-related activities. Furthermore, the escalating demand for energy caused by the increase in disposable income in urban and rural areas across the globe is also projected to boost the market performance over the review timeframe. Moreover, the increased urbanization along with the new projects, including smart cities, commercial hubs, and other efforts, are also projected to enhance the development of the market over the assessment timeframe.

Market Restraints

On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.

Report Scope:

Report Metrics

Details

Market Size 2032

2030: USD 95.07 billion 2032: Significant Value

CAGR during 2023-2032

6.10% CAGR

Base Year

2021

Forecast

2023-2032

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Material, End-Users and Region

Key Market Opportunities

continuous modernization of emerging nations

Key Market Dynamics

the ongoing development of process manufacturing units to boost output industrial valves are being used more frequently in emerging sectors

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Industrial Valve Market COVID-19 Impact

The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Industrial Valves market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.

Industrial Valve Market Segment Analysis

Among all the types, the plug segment ensured the leading spot across the global industrial valve market in 2021. The main parameter supporting the development of the segment is the escalating demand in chemical firms, especially in the European and Asia-Pacific regions.

Among all the materials, the cryogenic segment ensured the top spot across the global industrial valve market in 2021. The main parameter supporting the development of the segment is the chemical and oil and gas industries' increasing need for valves manufactured of this material. In the chemical and oil industries, two media are parted with cryogenic valves for isolation. Therefore, it positively impacts market development.

Among all the end-users, the oil & gas segment secured the primary position across the global industrial valves market in 2021. The expanding transportation industry is the main parameter supporting the segment's development. Furthermore, the factors such as expanding drilling activity in the Gulf Cooperation Council (GCC) nations and rising energy needs are also projected to cause a surge in the development of the segment over the review era. Because of the COVID-19 pandemic, the world is at present experiencing an economic catastrophe.

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Industrial Valve Market Regional Analysis

The global Industrial Valve market is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.

The research reports by MRFR suggest that the European region held the top position across the global Industrial Valves industry in 2021 with the largest contribution of USD 27.29 billion and is anticipated to showcase considerable growth over the coming years. The main parameter supporting the development of the market is the rising demand from Russia in the midstream oil & gas sector coupled with the growth of offshore locations.

The North American regional market for Industrial Valves is anticipated to showcase a substantial development over the review timeframe owing mainly to the rising output of shale gas and oil sands. Furthermore, the ineffective valves for gas transportation in midstream infrastructure will catalyze regional market development over the coming years.

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The Asia-Pacific industrial valves Market is anticipated to record maximum growth over the coming years. The main parameters supporting the development of the market include the growing demand for industrialization, rising population, rapid industrialization, and urbanization.

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