The global Industrial Valves Market is projected to reach USD 106.29 billion by 2031, at a CAGR of 5.2%, from USD 67.35 billion in 2022. The industrial valves market is expected to continue to grow in the coming years due to the rapid industrialization and infrastructure development.
The market for industrial valves is essential for managing the flow of gases, liquids, and slurries throughout a variety of industrial operations. These valves are essential parts of many different industries, including as manufacturing, oil and gas, chemicals, water and wastewater treatment, and power generation. Industrial valves are mechanical devices that control the flow, pace, and pressure of fluids in industrial systems to guarantee their safe and effective operation. A wide variety of valve types, each designed for a particular use, including gate, globe, ball, and butterfly valves, are what define the market.
In July 2023, Theis Precision Steel India Pvt. Ltd. (Theis Precision) has been successfully acquired by BDK Valve Private Ltd., a maker of industrial valves, and Gurukrupa Group, a real estate developer in western India. This is the promoter group’s second foreign company acquisition.
In February 2023, The definitive agreement between Montreal-based Velan Inc., a manufacturer of engineered industrial valves, and Dallas-based Flowserve Corp., a provider of flow control products and services for the global infrastructure markets, states that Flowserve acquires Velan.
Regional Analysis
The industrial valves market in Asia Pacific is expected to lead globally. Driven by a combination of strong economic growth, rising industrialization, and considerable infrastructural development throughout the area, the industrial valves market in Asia Pacific is positioned to seize the lead globally. The need for industrial valves has increased as major Asian economies — China and India included continue to experience fast industrial growth in areas like manufacturing, water management, and energy.
Further key findings from the report suggest:
- The global industrial valves market is predicted to register a compound annual growth rate (CAGR) of 5.2% over the projected period of 2023–2031.
- Asia Pacific will be the leading region of the global industrial valves market during the forecast period of 2023–2031.
- The major key players in the global industrial valves market are: Emerson Electric Co., Fluidline Valves Co. Pvt. Ltd., AVK Holdings A/S, Flow Control Technology Valve, Metso Outotec Corporation, KLINGER Holding, Schlumberger Limited, Fluidchem Valves (India) Pvt. Ltd., Bohmer GmbH, Forbes Marshall, EG Valves Manufacturing Co., Ltd., Microfinish Valves Pvt. Ltd.
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