Industrial Valves Market Trends and Forecast by 2031 | To Reach $110.5 billion

Industrial valves serve as electro-mechanical or mechanical apparatuses employed in industries to regulate the flow of gases, liquids, slurries, and other substances through pipelines and conduits. These valves come in various types, each serving distinct purposes such as turning on/off, controlling pressure, and other regulatory functions.

In industrial settings, valves function as electromechanical tools tasked with managing the flow and pressure of liquids, gases, vapors, powders, and slurries within piping systems. Comprising components like the body, trim, discs, seats, stem packing, end connectors, sealing rings, bonnet shell, union bolts, yoke and yoke nut, as well as operators and actuators, these valves play crucial roles. They facilitate flow cessation as needed, prevent reverse flow to the pressurized side, and safeguard equipment from potential overpressure risks.

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Market Statics:
The Industrial Valves Market Size was $65 billion in 2021, and is estimated to reach $110.5 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

The market offers a diverse array of industrial valves, differing in size, design, functionality, and operation methods. These valves find widespread utility across industries including refinery, chemical, pharmaceutical, water and wastewater treatment, food and beverage (F&B), power generation, and oil and gas sectors worldwide.

Rapid industrialization across the world has resulted in the increase in industrial valves demand during the last few years. These industrial valves provide an easy and affordable means of controlling flow of materials across major industries.

As the demand for fuel surges, various countries are launching new oil & gas exploration projects. This is anticipated to boost the demand for advanced valve tech. Similarly various water treatment plants are being launched to cater to the rising fresh water demand. Driven by this, the industrial valves market will record high growth in the coming years.

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Market Outlook:
The global market for Industrial valves has been greatly impacted by technological improvements and product developments. Also, increasing adoption of industrial valves in sewage pumping, wastewater treatment plants and several other applications will continue to boost the growth of industrial valves market globally.

Recent technological developments have made it possible for businesses to use cutting-edge tools like artificial intelligence (AI) and the Internet of Things (IIoT) technology to reduce unplanned downtime and other adverse situations caused by valve failures.

These valve technologies enable professionals to remotely check on the functionality and state of industrial valves. Industries are implementing sensor-equipped valves to minimize failure rates and overall maintenance costs as a result of increased industrialization. Over the projection period, it is anticipated that adoption of these cutting-edge values would strengthen the market.

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Segmentation Based On:

The global industrial valves market is segmented on the basis of material type, valve type, application, and region.

By material type, the market is categorized into cast iron, steel, alloy-based, and others.

Depending on valve type, it is segregated into ball valves, butterfly valves, gate valves, globe valves, plug valves, check valves, and diaphragm valves.

On the basis of application, it is differentiated into oil & power, water & wastewater, chemical, food & beverage, and others.

By region, the industrial valves market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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Top Players:

Key companies profiled in the industrial valves market report include AVK Holding, Avcon Controls Pvt Ltd, Schlumberger Limited, Crane, Emerson Electric Co., Flowserve Corp., Forbes Marshall, IMI Plc, Metso Corporation, The Weir Group Plc, EG Valves Manufacturing Co., Ltd., Sirca International S.P.A., Klinger Holding, Böhmer GmbH, Fluidline Valves Co. Pvt Ltd., Anything Flows LLC, Davis Valve and Powell Valves.

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