April 24, 2024 11:53 ET | Source: Research and Markets Research and Markets
Dublin, April 24, 2024 (GLOBE NEWSWIRE) -- The "U.S. Industrial Valve Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering. The U.S. industrial valve market is expected to reach a value of $11.02 billion by 2029 from $8.57 billion in 2023, growing at a CAGR of 4.28% Ball Valve
The U.S. industrial valve market report contains exclusive data on 40 vendors. The competitive scenario in the U.S. industrial valve market is intensifying, with global and domestic players offering diverse products. Regarding market share, a few major players are currently dominating the market. Some companies currently dominating the market are Bray International, Crane, Emerson Electric, Flowserve, SLB, Baker Hughes, Danfoss, KITZ, SMC Corporation, and Velan.
Emerson's launch of ASCOTM Series 262 and 263 Biodiesel Valves (FER. 8, 2023): Emerson's introduction of the ASCOTM Series 262 and 263 Biodiesel Valves marks a significant development in the U.S. industrial valve market. These valves, certified for use with biodiesel blended fuel in boilers, enable the transition to a more sustainable energy source, aligning with evolving regulations and reducing greenhouse gas emissions. Market players must adapt by incorporating eco-friendly solutions, capitalizing on the growing demand for sustainable technologies, and ensuring compliance with environmental standards. Growing Demand for Valves In Healthcare & Pharmaceutical Industries: The growing demand for valves in the healthcare and pharmaceutical industries is a significant driver for the market. As these sectors prioritize precision, sterility, and compliance with stringent regulations, specialized valves play a crucial role. This driver creates opportunities for market players to develop valves tailored to the unique needs of healthcare applications, emphasizing materials that meet hygiene standards and designs that enable precise control. Capitalizing on this demand requires manufacturers to focus on innovation, compliance with industry standards, and customization to address the specific challenges and requirements of the healthcare and pharmaceutical sectors. Establishment of Smart Cities: Establishing smart cities in the U.S. is a powerful driver influencing the industrial valve market. Smart cities deploy advanced technologies for efficient infrastructure management, including smart water distribution systems, Heating, ventilation, and air conditioning (HVAC) systems, and automated processes that rely on industrial valves. Market players can align their strategies with this driver by offering valves equipped with smart technologies, collaborating on city infrastructure projects, and participating in developing solutions that contribute to the evolution of smart cities. This driver expands market opportunities and positions industrial valve manufacturers as key contributors to developing sustainable and technologically advanced urban environments. U.S. INDUSTRIAL VALVE MARKET INSIGHTS The gate product segment holds the largest market share of over 26% in the U.S. industrial valve market. Gate valves remain integral to the U.S. industrial valves market, particularly in applications where full and unobstructed flow are essential. In the oil and gas sector, gate valves are fundamental for controlling the flow of crude oil and natural gas in pipelines. Their robust construction makes gate valves a trusted choice in demand for the oil and gas industry, particularly in refining processes where reliability is crucial for uninterrupted operations, thus driving the segment. The plastic material type is growing significantly, with the fastest-growing CAGR in the U.S. industrial valves market. Plastic valves are gaining acceptance in the U.S. industrial valves market, driven by their lightweight nature, corrosion resistance, and suitability for specific applications. Plastic valves provide cost-effective solutions, making them a choice in applications where budget considerations play a significant role. This affordability does not compromise performance, making them ideal for various industrial sectors. Based on operations, the auto-responsive valve segment showcases the highest growth, growing at a CAGR of 4.97% in the U.S. industrial valve market. Auto-responsive valves contribute to energy efficiency by optimizing operations based on real-time data, reducing energy consumption during periods of low demand. This energy-conscious approach aligns with sustainability goals in various industrial sectors and helps grow this segment. The on/off valve function segment maintains a significant presence and the largest U.S. industrial valves market share. The segmental growth is driven by an on/off valve that serves as the essential component for isolating and controlling the flow of fluids. Widely adopted in industries such as oil and gas, where rapid shutoff is crucial for safety and operational control, on/off valves are in demand for their reliability in critical applications. Based on size, the 1-6" segment holds the largest share in the U.S. industrial valves market. The segmental growth is primarily due to their acceptance in a wide range of industries due to their balanced size, making them suitable for both small- and moderately sized fluid control systems. They balance precision and flow capacities, making them ideal for applications with moderate flow rates and controlled adjustments. Commonly used in industrial processes, commercial plumbing, and HVAC systems, these valves cater to a broad spectrum of applications where flexibility in flow control is essential.
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