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Industrial Valve Market worth $121.67 billion by 2029 - Exclusive Report by MarketsandMarkets™


News provided by

MarketsandMarkets

16 Oct, 2024, 14:15 GMT

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DELRAY BEACH, Fla., Oct. 16, 2024 /PRNewswire/ -- The global Industrial Valve market will be USD 121.67 billion by 2029 from USD 95.58 billion by 2024, at a CAGR of 4.9% during the forecast period according to a new report by MarketsandMarkets™. The industrial valve market is witnessing tremendous growth supported by an increasing demand for the product in application areas as diverse as oil and gas, water and wastewater management, and pharmaceuticals. Some of the major growth drivers include rising demands for efficient fluid-control systems, new valve technologies, and increasing regulatory pressures for safe operations and healthy environmental practices. Another area of its contributions is the growing increase of renewable energy projects in the hydrogen space and desalination plants. The Asia Pacific and Middle East region is geographically leading in the emerging markets. Urbanization, along with infrastructural development, boosts these regions' growth. Therefore, an upward trend in the industrial valve market is expected to be evidenced, thus fueled by technological innovations and robust end-user demand.

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MarketsandMarkets

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256097136

Browse in-depth TOC on "Industrial Valve Market" 

160 – Tables
60 – Figures
290 – Pages

Industrial Valve Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 95.58 billion

Estimated Value by 2029

$ 121.67 billion

Growth Rate

Poised to grow at a CAGR of 4.9%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By technology, industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Fierce competition due to reduced product differentiation

Key Market Opportunities

Integration of industrial valves with IIoT and Industry 4.0

Key Market Drivers

Rising demand for valves from healthcare and pharmaceutical industries

Linear valves are expected to account for the largest share of the industrial valve market during the forecast period.

The digital transformation systems segment accounted for the largest share of the Industrial Valve market in 2029. The linear valve market is expected to have high growth potential due to increasing automation in various sectors such as oil and gas, water management, and pharmaceuticals. Growing demand for effective regulation of fluid flow and Pressure in industry operations drives the demand for linear valves such as actuators and pneumatic valves. In addition, the growing emphasis on sustainable practices, such as water conservation and renewable energy projects, is another factor creating a growth opportunity. Technological advancements in smart valves infused with the ability to use IoT would continue propelling the market. Hence, overall growth within the linear valve market will be strong and healthy.

Chemicals segment will exhibit the highest CAGR in the forecast year.

Valves deployed in the chemical industry expose them to handling media such as abrasive silica, molten slurry, liquefied wax, high-velocity hard particles, corrosive attacks, and fugitive emissions. The efficient performance of valves ensures process integrity and safety of the staff and improves the overall production efficiency, thus enhancing profitability. In typical chemical and petrochemical plants, valves are used in diversified plant operations, including feed pumps, compressors, furnaces, reactors, exchangers, separators, letdown systems, fluid management systems, condensers, and steam lines for pressure flow control, abrasion, corrosion, scaling and erosion, emission, cleaning, and pressure-assisted sealing, among other such functions.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=256097136

Asia Pacific is expected to hold the largest market share of the Industrial Valve market during the forecast period.

In 2023, the Asia Pacific region captured the largest share of the global industrial valves industry. Growth in the industrial valves market in the water and wastewater treatment sector is enormous; it will likely continue in the years ahead. Growth drivers include a dense population and a per capita income with large-scale industrialization and rapid urbanization. These economies include countries like China, India, and several Southeast Asian nations, whose economies are increasingly growing. With the region's urban population constantly increasing, there is a high need for better water and wastewater treatment systems. Additionally, with a growing need for efficient water management and superior water and wastewater treatment technologies, the demand for industrial valves in Asia Pacific countries is also increasing.

Key players

The key companies in the Industrial Valve companies include Emerson Electric Co. (US), SLB (US), Flowserve Corporation (US), IMI (UK), and Crane Company.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=256097136

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Lined Valve Market by Type (Ball Valve, Butterfly Valve, Globe Valve, Plug Valve, Gate Valve), Material (Polytetrafluoroethylene (PTFE), Perfluoroalkoxy (PFA), Polychlorotrifluoroethylene (PCTFE)), Industry and Region - Global Forecast to 2028

Ball Valves Market by Material (Cast Iron, Stainless Steel, Alloy-based, Brass, Bronze & Plastic), Type (Trunnion-mounted, Floating, Rising Stem), Size (<1", 1"-5", 6"-24", 25"-50" & >50"), Industry (Oil & Gas, Chemicals) & Region - Global Forecast to 2028

Control Valve Market by Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), Component (Actuators, Valve Body), Size, Type (Rotary, Linear), Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemicals) & Region - Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar

MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-valve-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/industrial-valve.asp

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