Press release
Metal Valve Market Competitor Analysis, Growth, Insights, Trends 2024-2033: Strategic Perspectives
Metal Valve Market
The metal valves market size is expected to see steady growth in the next few years. It will grow to $369.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to green energy transition, smart and iot-enabled valves, water scarcity solutions, environmental regulations, global infrastructure upgrades. Major trends in the forecast period include energy-efficient valves, digital twin technology, valve materials innovation, customization and specialization, remote valve control.
Market Overview -
Metal valves refer to a type of instrument that is adaptable, strong, and reliable, consisting of metal, and that is designed to regulate, direct, and control the flow of liquids, gases, and slurries from containers to the point of application in industries to provide a measured amount of raw material.
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Chemical Industry Expansion Driving Growth In The Metal Valves Market
The growth of the chemical industry is expected to propel the growth of the metal valves market going forward. Metal valves such as butterfly valves, ball valves, gate valves, check valves, globe valves, plug valves, and actuated valves perform an essential role in chemical processing, thereby contributing to the growth of the metal valves market. For instance, according to a report published by the American Chemistry Council (ACC), a US-based industry trade association for American chemical companies, the output of chemicals in the US is strong, and all chemical businesses are expanding. The ACC anticipates that output will increase by 2.4% in 2023, with the amount spent on capital projects increasing by 5.5% in 2023. Thus, the growth of the chemical industry is expected to drive the growth of the metal valves market going forward.
Competitive Landscape -
Major companies operating in the metal valve market include Parker-Hannifin Corporation, Emerson Electric Co, IMI plc, Atlas Copco AB, The Flowserve Corporation, The Crane Company, KITZ Corporation, Metso Oyj, Spectrum Brands Holdings Inc, Globe Union Industrial Corp., Parker Hannifin Corporation, The Weir Group PLC, Cameron International, Rotork plc, Velan Inc., Curtiss-Wright Corporation, Neway Valve (Suzhou) Co. Ltd., Spirax-Sarco Engineering plc, Forum Energy Technologies, CIRCOR International Inc., Apollo Valves (Conbraco Industries), Bonney Forge Corporation, Watts Water Technologies Inc., Dwyer Instruments Inc., Bray International Inc., Leslie Controls Inc., SAMSON Controls Inc., Swagelok Company, Marwin Valve, Sun Hydraulics Corporation, MOGAS Industries Inc., Ayvaz, VAG Group, Nihon KOSO Co. Ltd.
Cutting-Edge Products And Innovation Drive Transform The Metal Valve Market
Product innovations are the key trend gaining popularity in the metal valve market. Major companies operating in the metal valves sector are focused on introducing new products with innovative technology and features to gain a competitive advantage. For instance, in 2022, Warren Controls, a US-based manufacturer of valves for commercial, industrial, and other industries, launched the industrial control valves Series 2900. These valves have applications in industries such as food and beverages as well as other manufacturing purposes. The distinctive qualities and innovative qualities of these products include a rugged cast iron body and a selection of trim materials, including bronze, 300 stainless steel, 17-4PH stainless steel, and Alloy 6 amongst other materials.
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Key Segments -
The metal valve market covered in this report is segmented -
1) By Type: Industrial Valve, Fluid Power Valve and Hose Fitting, Plumbing Fixture Fitting and Trim, Other Metal Valve and Pipe Fitting
2) By Product: Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, Other Products
3) By End User Industry: Chemicals, Marine, Construction, Mining, Oil and Gas, Other End User Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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