Industrial Valves Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Ball Valves, Butterfly Valves, Check Valves, Diaphragm Valves, Globe Valve, Gate Valve, Plug Valves, Safety Valves), By Material (Stainless Steel, Cast Iron, Cryogenic, Alloy, Others), By Industry Verticals (Oil & Gas, Energy & Power, Water & Wastewater Treatment, Chemical, Food & Beverage, Pharmaceutical, Agriculture, Others), And By Geography - Forecasts From 2021 To 2026

The industrial valves market is projected to grow at a CAGR of 4.24% to reach a market size of US$90.117 billion in 2026 from US$67.404 billion in 2019. Valves are mechanical devices that control the flow and pressure of liquids, gases, and slurries within a system. They are an essential part of pipelines and multiple processes across many industries. Industries such as chemical, power, metalworking, and oil and gas all have an increasing demand for innovative valves that meet the industry’s requirements. Recent incidences of accidents in factories and manufacturing facilities due to faulty valves are demanding high-performance industrial valves that provide better security to the equipment and the workers. This, in turn, is driving the demand for highly efficient industrial valves.

Impact of COVID on the Industrial Valves Market

The industrial valve market has been affected severely by the outbreak of coronavirus. One of the major players using valves is the Oil and Gas industry. The oil and gas industry has been affected due to COVID-19, there was a fall in the prices of oil like never before and a shortage of storage spaces and weaker demand negatively impacted the oil and gas industry. Similarly, various other industries faced a negative impact due to COVID as they had to halt production in their manufacturing units due to lockdown restrictions in various countries around the globe. It is estimated that post-COVID when the economic conditions are back to normal, the economy will revive and the market of industrial valves will grow.

Market Drivers 

• There has been an increase in the demand for industrial valves from the pharmaceutical and healthcare industries due to the coronavirus outbreak. The essential medical devices necessary to treat COVID patients are increasingly being produced. The manufacture of various types of medical devices is critical for the industrial valve market, with many major players in the industry taking advantage of the opportunity to combat the deadly pandemic caused by Coronavirus.
• The oil and gas industry is estimated to be one of the largest market shareholders among the end-user industries. The growing demand for energy and growth in the transportation sector are some of the reasons for the lucrative growth in the oil and gas industry, this in turn will lead to a boost in the demand for industrial valves in the market.

Key Developments.

• In January 2020, Danfoss A/S a Power management company announced that it had agreed with Eaton to acquire its Hydraulics business for $3.3 billion. This strategic acquisition will enable Danfoss to strengthen its core businesses and enhance value for its customers.
• Emerson has announced in February 2021, that it has made equity investments in Fluxa. The investment will build on Emerson's leadership in life sciences capabilities and help Fluxa broaden the company's technology growth and business portfolio to provide industry solutions.
• IMI PLC announced in August 2019, of acquiring PBM Inc., a speciality valve manufacturer for a value of $85 million. This strategic acquisition of PBM will enable IMI to broaden its Critical Engineering offering into very attractive and adjacent markets.
• Emerson and IMA Active in March 2021 announced their collaboration for developing new software and strategies to control the continuous manufacturing of oral solid dose pharmaceuticals.  
• Flowserve Corporation announced in March 2021 that it will be providing pumps, valves, and seals to Pfizer to support the production of its COVID-19 vaccine.
• Neles in November 2020 signed an agreement with 13 new distributors in India, Sri Lanka, and Bangladesh. These new distributors will help Neles expand its coverage of valve offerings in the different customer industries.

Market Restraints.

• The industrial valve market lacks standardized norms and governing policies. The different regions around the world have different policies and certifications concerning the valves. The strict government regulations hinder growth in the industrial valves market.
• The price war among the vendors also holds back growth in the industrial valves in the market. The competition between the suppliers of the valves is also increasing with cross-industry vendors in the industrial valve sector. E.g., suppliers of pumps and filters supply valves alongside the main valve suppliers. Companies should create advanced products to achieve product distinction and higher-margin valves that are less competitively vulnerable.

The Asia Pacific to witness significant market growth.

The Asia Pacific region is estimated to witness significant growth in the market of industrial valves. India and China are some of the largest shareholders in the region driving growth in the region. The growing need for water treatment and expansion of oil and gas industrial activities will boost the demand for industrial valves in the region.

The North American region is estimated to be the largest shareholder in the region of the industrial valve market. This region is home to some of the largest corporations such as Emerson, Flowserve Corporation, Cameron-Schlumberger, and Crane Co. The increase in R&D in these major companies boosts growth in the region.

Major Players.

The major players in the industrial valves market are Eaton, Emerson Electric Co., General Electric Company, Flowserve Corporation, The Weir Group PLC, IMI PLC, DAHER, KITZ Corporation, METSO, and Spirax Sarco Limited. There is intense competition among the major players and they compete with each other by launching new products, entering into a partnership agreement, or acquiring another company.

Industrial Valves Market Scope:

Report Metric	Details
The market size value in 2019	US$67.404 billion
The market size value in 2026	US$90.117 billion
Growth Rate	CAGR of 4.24% from 2019 to 2026
Base year	2019
Forecast period	2021–2026
Forecast Unit (Value)	USD Billion
Segments covered	Type, Material, Industry Vertical, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	Eaton, Emerson Electric Co., General Electric Company, Flowserve Corporation, The   Weir Group PLC, IMI PLC, DAHER, KITZ Corporation, METSO, Spirax Sarco Limited
Customization scope	Free report customization with purchase.

 

Segmentation

• By Type

  • Ball Valves

  • Butterfly Valves

  • Check Valves

  • Diaphragm Valves

  • Globe Valve

  • Gate Valve

  • Plug Valves

  • Safety Valves

• By Material

  • Stainless Steel

  • Cast Iron

  • Cryogenic

  • Alloy

  • Others

• By Industry Vertical

  • Oil & Gas

  • Energy & Power

  • Water & Wastewater Treatment

  • Chemical

  • Food & Beverage

  • Pharmaceutical

  • Agriculture

  • Others

• By Geography

  • North America

    • U.S.

    • Canada

    • Mexico

  • South America

    • Brazil

    • Argentina

    • Colombia

    • Others

  • Europe

    • U.K

    • Germany

    • Italy

    • France

    • Netherlands

    • Spain

    • Others

  • Middle East and Africa

    • Israel

    • South Africa

    • Saudi Arabia

    • Others

  • Asia-Pacific

    • China

    • Japan

    • Australia

    • South Korea

    • India

    • Others

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Frequently Asked Questions (FAQs)

Q1. What will be the industrial valves market size by 2026?
A1. The industrial valves market is projected to reach a market size of US$90.117 billion in 2026.

Q2. What is the size of the global industrial valves market?
A2. The Industrial Valves market was valued at US$67.404 billion in 2019.

Q3. What are the growth prospects for the industrial valves market?
A3. The global industrial valves market is projected to grow at a CAGR of 4.24% over the forecast period.

Q4. Which region holds the largest market share in the industrial valves market?
A4. The Asia Pacific region is estimated to hold a significant share in the industrial valves market.

Q5. What factors are anticipated to drive the industrial valve market growth?
A5. Recent incidences of accidents in factories and manufacturing facilities due to faulty valves are demanding high-performance industrial valves that provide better security to the equipment and the workers which are driving the demand for highly efficient industrial valves. 

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