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Global Industrial Valves Market to Reach $92.4 Billion by 2026

Industrial valves are mechanical or electromechanical devices intended to control, divert and regulate pressure and flow of fluids by opening, blocking or closing fluid passage. Industrial valves are mainly utilized in capital-intensive industries, as these industries require a large number of valves during the installation stage. The valves are also utilized as flow controllers for pipelines, through which gases, liquids and semi-solids are transported. The momentum in the industrial valves market is likely to remain northbound through the coming decade, steered by prevailing economic scenario and trends in the core end-use verticals. A key driving factor for the growth of industrial valves market in the upcoming years is the growing energy needs of countries across the world, in particular the developing economies. It is due to the escalating need for energy that power sector, oil & gas, and refining sectors are posting robust growth across the world, thereby generating huge demand for valves. Pharmaceutical, biotechnology, and food processing sectors are also expected to spur demand for valves, while fine and basic chemical sectors are expected to witness steady rise in valve sales. Semiconductor and electronics industries are also expected to generate demand for valves, given the need for critical valves in applications such as etching chemicals, ultrapure water systems, and chip washing, among others. Growing number of smart city development projects in countries across the world, both developed and developing, is another strong growth promoting factor for the market for industrial valves. Another important factor promoting growth for the market for industrial valves is the growing prominence of predictive maintenance among manufacturing and process industries.

Amid the COVID-19 crisis, the global market for Industrial Valves estimated at US$78.6 Billion in the year 2022, is projected to reach a revised size of US$92.4 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. Ball Valves, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$30.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Butterfly Valves segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Industrial Valves market. Ball Valves constitute the largest product segment within the industrial valves market. Manufactured with heavy-duty brass, ball valves are designed for residential and commercial applications for regulating flow of oil, water, and gas. The full ports of ball valves allow for a maximum flow and minimum pressure drop or tumult. Ball valves are widely used because of their high corrosion resistance and because they are capable of achieving tighter shut off. Butterfly valve has a compact design and is lightweight. Its installation inside the pipe is also easy. Another important advantage is that there is limited pressure drop when butterfly valve is used. Uptrend in industrial activity would fuel demand for different types of industrial valves including butterfly valves.

The U.S. Market is Estimated at $20.9 Billion in 2022, While China is Forecast to Reach $18.2 Billion by 2026

The Industrial Valves market in the U.S. is estimated at US$20.9 Billion in the year 2022. The country currently accounts for a 27.03% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$18.2 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR through the analysis period. Buoyed by innovations over the last decade and a half, the valve industry is expected to benefit significantly from the growing demand for and expansion of clean water, energy, food, and power sectors in the long run. Several long-term factors working in tandem to drive growth include government regulations relating to emission control, and growing need to optimize resources such as water and power. Installation of scrubber systems and catalytic systems in power plants has and will continue to boost demand for valves.

Check Valves Segment to Reach $12.4 Billion by 2026

Check valves are ideal even for such applications where different gases are made to flow through a single pipeline. There are different basic designs available, which include swing check valves, lift or piston check valves, dual flap check valves, and air check valves. In the global Check Valves segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.7 Billion will reach a projected size of US$9.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period.