Latest Date Updated on : Jan 20, 2025
The global Industrial Valve market is anticipated to grow from USD 95.58 billion in 2024 to USD 121.67 billion by 2029 expanding at a compound annual growth rate (CAGR) of 4.9% during the forecast period. The growth in infrastructure projects, higher investments in the energy sector, enhanced manufacturing standards, and stricter regulatory frameworks are driving this positive trend. Furthermore, the rising adoption of specialized valves is boosting the insdustrial valve market. For instance, in solar power plants, control valves regulate the flow of heat transfer fluids, ensuring optimal energy conversion. Wind turbines also rely on valves to manage hydraulic fluids, which are crucial for the smooth functioning of turbine mechanisms. Additionally, the adoption of advanced valves with remote control capabilities is also significantly driving the market. These valves, equipped with sensors, actuators, and advanced communication systems, enhance the efficiency and monitoring of renewable energy systems. Their integration optimizes safety, improves performance, and reduces the likelihood of breakdowns, ultimately lowering maintenance costs. T Strainer
Market growth in the Asia Pacific can be attributed to rapid industrialization in countries such as Japan, India, and China, along with the presence of numerous SMEs.
Rapid industrialization, particularly in emerging economies, has driven demand for industrial valves in oil and gas, power generation, chemicals, and manufacturing sectors.
Infrastructure projects, especially in emerging economies, demand valves for applications in water distribution, wastewater treatment, and energy generation.
The pharmaceutical and food & beverage industries require stringent quality and hygiene standards, driving the need for specialized and high-performance valves.
Low-cost valve offerings from local manufacturers challenge global players and create market ambiguity due to similar products and limited differentiation, posing a challenge to market growth.
AI assists in choosing the best valve and characteristics for each application by accessing the expert systems which are trained by industry experts such as subcontractors, manufacturers, contractors, and users. With wide ranges of data and industry knowledge, AI ensures that customers get the best recommendations specially tailored to their own needs, operating conditions, and performance requirements. Deviations from the standard recommendation would be well supported by data that, in turn, would enhance decision-making as well as help prevent errors. This advanced approach maximizes valve performance, efficiency, and longevity in most industries.
Industrial valves play an important role in manufacturing different types of medical devices and efficiently regulating and transporting fluids in pharmaceutical applications. For instance, butterfly valves are a key system component in the pharmaceutical industry as they can be combined with the most performing equipment to manage delicate products. Butterfly valves are also necessary for the process of transportation of highly viscous fluids and bulk solid products. However, it is of utmost importance to adhere to international health and safety standards to prevent issues such as contamination of the pharmaceutical product with elastomer or polymer particles from valve wear, oxidation of metals, or bacterial contamination due to the roughness of a valve body. Valve manufacturers design products that adhere to specific standards to avoid such challenges. Sterivalves Srl, uses elastomers that comply with FDA 177:2600 standards and stainless steel according to the EN 1.4404 standards, thereby making the end products ideal for the pharmaceutical industry. Emerson makes a series of miniature instrument- level valves for analytical and medical equipment. These valves have a high demand from providers of oxygen therapy devices. The newer generation of hospital beds includes air bladders, pneumatically actuated, and designed to increase patient comfort. Emerson manufactures valves for such air beds. The demand for Emerson's valves has risen through the roof, which is why their product range has gained mass acceptance among the manufacturers of hospital beds. The company's ASCO series provides various associated or similar valves besides having the valves in varied capabilities, like pinch valves which are used in the medical equipment, whereas the use of the ASCO solenoid valves is seen in hospital beds. Companies are also indulging more and more in R&D for the automatic parts, like solenoid valves, supplied to the pharmaceutical industry. New, high-end fluid management systems being developed by pharmaceutical companies include automatic sanitizer and liquid soap dispensers. As a result, the demand for valves also increases. Rising healthcare device production, along with growing R&D investments in the pharma field, fuels the growth of the industrial valve market.
In valve industry, lead time can be described as the time between the request/order generation of valves by the end-user industry to the manufacturing, installation, and documentation of valves. The lead time in the valve industry depends on several factors, such as types, materials used, and application areas of the valves to be installed. For customized valves, the lead time might be higher.
With the rapidly growing demand for increasing production capacities across industries such as oil & gas and energy & power, valve manufacturers find it difficult to manage or minimize the lead time effectively. The average lead time might be as high as 16 to 18 weeks for certain types of valves, including the triple offset butterfly valve. This is one of the major restraints on the growth of the industrial valves market. Valve manufacturers must develop or adapt newer innovative technologies or regimes (lean manufacturing) or establish better relations with value chain entities to reduce lead times.
Unplanned downtime due to valve failure as well as other flow control devices will create hazard for any plant process. For example: failure in valve causes in -production, not-quality products, and because of that causes expensive emergency repairs and upsets customers. Traditional schedule-based maintenance methods are now obsolete as they do not entail processes to inform the manufacturing companies about a system failure beforehand, thereby increasing the operational risk. To avoid such calamities, there is a rising need to integrate the Industrial Internet of Things (IoT) with flow control networks to offer alerts before any failure occurs. In addition, IIoT ensures all the valves and actuators in a plant can be continuously monitored online in a timely and remote fashion to track effectively productivity and possible wear and damage that could result in system failure. With this, time-efficient preventive maintenance measures can be allowed, enhancing overall operational productivity. This also reduces maintenance and shutdown costs substantially.
Factories and industrial plants, including chemical, pulp & paper, and water & wastewater treatment, have seen the benefits of remote valve monitoring. Traditional retrofitted monitoring solutions, however, are costly, and deploying thousands of different types of valves manually is time-consuming. Remote valve monitoring includes several components, and it detects the valve position with a retrofit sensor device mounted on a hand-operated valve. Two types of position sensors are available: angular and linear. The sensor device helps provide position data in a digital format to the factory/plant's central control system. With remote monitoring solution integrated into a manufacturing plant, positions of all valves in a factory can be monitored in real time.
The presence of companies offering low-cost valves is challenging the growth of the industrial valves market. A wide variety of industrial valves components are exported from China; hence, Chinese manufacturers have a cost advantage in valve manufacturing. Similarly, domestic vendors from developing countries are posing a threat to multinational companies due to their strong local market position and the proximity of their manufacturing capabilities to customers, resulting in reduced time to market. The reason for adopting domestic industrial valves is their capability to perform a similar function at a lower cost. Therefore, the influence of local manufacturers is a challenge for the big players in the ecosystem.
The fragmented nature of the smaller/emerging players is a reason for ambiguity in the market. End users' varied demands and expectations greatly shape the competitive rivalry and market dynamics. As many local manufacturers offer similar products, there is no product differentiation, making it difficult for market players to effectively position their portfolio in the right context and with clear boundaries. To overcome this, manufacturers need to ascertain their position in the market through an extensive product benchmarking analysis based on a variety of factors such as specification, pricing, and type.
The industrial valve market ecosystem involves manufacturers, and end-users across various sectors like oil and gas, water treatment, pharmaceuticals, and food and beverage. Manufacturers focus on innovation and advanced materials to improve valve performance and efficiency. End-users drive demand for automation and sustainability. Regulatory bodies set safety standards, influencing industry dynamics and fostering advancements in flow control solutions.
Safety valves can be used for industry applications like oil and gas, energy and power, chemical and petrochemical, pharmaceutical, metal and mining, and water and wastewater treatment. Safety valves should be highly dependable to ensure their protection during the vacuum effect brought by cold rinsing, which occurs when the vacuum effect is happening right after hot cleaning, or when blocking gas supply in emptying. The rising application of safety valves in critical processes of oil & gas, chemical, energy & power industries to release excess pressure and protect equipment and people from damage would boost the growth of the industrial safety valves market during the forecast period.
The growing potential of the oil & gas sector through growing projects and expansions will lead to the adoption of a greater number of industrial valves. Oil & gas is among the key end-user industries of industrial valves due to the adoption of valves in various applications in upstream, midstream, and downstream operations. Industrial valves provide process control support by appropriately controlling and positioning the actuators. These valves have become the key components in offshore and onshore oil & gas facilities, where high pressure and adverse corrosive conditions are experienced on production platforms and refineries.
In 2023, Asia Pacific dominated the largest share of the overall industrial valves market. Industrial valves market for the water & wastewater treatment industry in Asia Pacific is expected to continue to grow at a significant rate in the near future as well.. Asia Pacific serves as the global manufacturing powerhouse, significantly driving the demand for industrial valves. China accounts for about 35% of the world's manufacturing output, reasserting its position as the world's leading manufacturing hub. India is rapidly emerging as a significant manufacturing destination, with total inbound foreign direct investment (FDI) in its manufacturing sector reaching USD 165.1 billion— 69% up over the last decade, primarily driven by production-linked incentive (PLI) schemes. The Indian government's plan to allocate USD 10 billion under its Semiconductor Mission is going to have a significant impact on the industrial valve market. When investments start to flow into establishing chip manufacturing facilities, the demand for robust industrial infrastructure will start to increase, including systems managing critical processes like gas, liquid, and chemical flow control. Industrial valves are vital in ensuring that these processes are precise and safe, making them an essential part of semiconductor fabrication plants, which require ultra-clean environments and reliable fluid handling systems.
Top Companies Industrial Valve Market - Key Market Players
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The study involved significant activities in estimating the current market size for the Industrial Valve market. Exhaustive secondary research was done to collect information on the Industrial Valve industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Different approaches, such as top-down and bottom-up, were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the Industrial Valve market.
The market for the companies offering smart manufacturing solutions is arrived at by secondary data available through paid and unpaid sources, analyzing the product portfolios of the major companies in the ecosystem, and rating the companies by their performance and quality. Various sources were referred to in the secondary research process to identify and collect information for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases. In the secondary research process, various secondary sources were referred to to identify and collect information related to the study. Secondary sources included annual reports, press releases, investor presentations of blockchain vendors, forums, certified publications, and whitepapers. The secondary research was used to obtain critical information on the industry's value chain, the total pool of key players, market classification, and segmentation from the market and technology-oriented perspectives.
Extensive primary research was conducted after understanding and analyzing the current scenario of the industrial valve market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts' opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:
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Both top-down and bottom-up approaches wete used to estimate and validate the total size of the Industrial Valve market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
The market was split into several segments and subsegments after arriving at the overall market size using the market size estimation processes as explained above. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from the demand and supply sides.
Industrial Valve combines systems that provide real-time data to ascertain the changing demands and requirements of the manufacturing sector. It can solve the current and future problems of manufacturing through an open infrastructure, encompassing various information from enabling technology solutions. It also fosters flexibility in manufacturing processes and provides cost-effectiveness and agility.
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