BANGALORE, India, Aug. 24, 2020 /PRNewswire/ -- The major factors that are expected to increase the growth of industrial valves market size include, growing demand for pharmaceutical valves due to the outbreak of the COVID-19 pandemic, rising emphasis on the growth of smart cities, growing need for connected networks for the maintenance and monitoring of industrial equipment and increasing demand for the establishment of new nuclear power plants and the reconstruction of existing ones.
The global industrial valves market size is expected to reach USD 107,356.7 Million in 2027, from USD 86,202.7 Million in 2019, growing at a CAGR of 3.5% from 2020 to 2027.
Some of the widely used valves in the industries are globe valves, butterfly valves, ball valves, gate valves, plug valves, pinch valves, diaphragm valves, and check valves.
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COVID EFFECTS ON MAJOR END-USER INDUSTRIES:
Oil & gas is one of the key industries that utilize a valve. The oil & gas sector has been seriously affected by the COVID-19 pandemic, with oil prices crashing like never before. Major oil companies run out of storage space for produced oil, and demand is on a downward trend.
The water & wastewater treatment and energy & power industries sectors are also facing a decline in demand for the industrial valve. There is a limitation on foreign trades to take precautionary measures for public health and safety due to the closure of international borders, non-operational distribution networks, and various government regulations. Nevertheless, due to the increase in people's desire for a healthier and safer lifestyle, there is expected to be a growing emphasis on hygiene and sanitation.
TRENDS INFLUENCING THE INDUSTRIAL VALVES MARKET SIZE
Growth in the adoption of diagnostics technology in smart industrial valves to track process variables like upstream & downstream stem pressure location, temperature, and the flow rate is expected to fuel the growth of industrial valve market size during the forecast period.
Advancement in smart valves with an optimized embedded processor and subsea oil & gas network capabilities has improved device stability and sensitivity and is expected to be a high-impact rendering engine.
It is expected that an increase in pipeline installations and the development of unconventional oil & gas applications in the downstream sector would generate substantial growth for the industrial valve market size. Furthermore, the increasing automation popularity in process manufacturing has contributed to the growing demand for automatic control valves.
Coronavirus outbreak has left people more concerned about clean water and sanitation. The disposal of sewage and wastewater is one of the basic utilities, and therefore the plants are operating for all public services. Investments in the development of water treatment plants are thus projected to drive the growth of the industrial valve industry.
Furthermore, the increasing demand from the healthcare and pharmaceutical industries due to COVID-19 pandemic outbreaks is, in turn, expected to increase the industrial valve market size. Industrial valves play a significant role in the manufacture of different types of medical devices, and many major players in the industry have taken the opportunity to counter the deadly coronavirus pandemic.
The emoting of coal use and the shutdown of traditional coal-fired plants are some factors that may hinder the growth of industrial valve market size. Fluctuations in the prices of raw materials will reduce the technology's usage and adoption. In addition, adherence to stringent government regulations for conventional power plants can also hamper growth in the industry.
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INDUSTRIAL VALVES MARKET SHARE ANALYSIS
The on-off / isolation valves hold the largest industrial valve market share in 2025, due to their ability to meet strict shut-off criteria across different industries. The on-off / isolation valves are one of the most important and essential elements of modern society. The on-off / isolation valves are used in practically all manufacturing processes and every energy generation and supply network.
In 2019, industrial steel valves held the largest market share. The rising demand for high-quality industrial valves in food & beverages, chemicals, pharmaceuticals, and metals & mining industries to mitigate the contamination threat currently drives demand for industrial steel valves.
Based on the region, North America is expected to hold the largest industrial valve market share. North America is a major industrial valve market, with some of the largest multinational companies in the world, including Emerson (US), Cameron-Schlumberger (US), Flowserve Corporation (US), Crane Co. (US). One of the key factors driving the North American market is the growing R&D activities in the area related to the use of actuators in the valves for automation and the rising demand for safety applications. Increasing demand for industrial valves in North America is increasing the need to import industrial valves from other countries, thereby driving the market growth.
GLOBAL INDUSTRIAL VALVES MARKET SEGMENTS
BY MATERIAL TYPE
BY VALVE TYPE
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SIMILAR REPORTS :
● Industrial Valves and Actuators Market Report
The global Industrial Valves and Actuators market size is projected to reach USD 90990 Million by 2026, from USD 87850 Million in 2020.
The increasing demand from industrial sectors such as oil and gas, water and wastewater treatment, and the energy and electricity is expected to drive the growth of Industrial Valves and Actuators Market size. Furthermore, technical developments promote the use of smart valves and actuators, which, in turn, operate in the market's favor.
● Plug Valves Market Report
In 2019, the global Plug Valves market size was USD 245 Million, and it is expected to reach USD 279.4 Million by the end of 2026, with a CAGR of 3.1% during 2021-2026.
● Diaphragm Valves Market Report
The global Diaphragm Valves market size is projected to reach USD 374.1 Million by 2026, from USD 366.6 Million in 2020
The radioactive waste management industry's rising demand is one of the main factors that will drive the growth of Diaphragm Valves Market size during the forecast period. The demand for electricity is increasing due to the rapid industrialization and increase in population. The growing demand for electricity would raise nuclear plant construction (which is considered the second-highest source of power generation). For such facilities, diaphragm valves are used for the controlled handling of nuclear wastes in many applications.
● Industrial Valves in Oil and Gas Market Report
Leaders in the oil and gas industry have close links with producers and suppliers of needle valves. As the whole device has to be held at low temperatures to turn gas into liquids, businesses are requesting that the suppliers and manufacturers of valves produce parts robust under low-temperature conditions.
Valves are used in the upstream to control oil flow and are equipped with high-pressure injection systems to blow the preventers out and choke the valves.
Throughout the midstream portion, where oil and gas are processed and transported from deep sea, valves are used to secure the equipment while regulating the flow.
The downstream segment feeds raw materials to the petrochemical industry with the help of high-pressure valve design.
● Industrial Control Valves Market Report
● Control Valve Market Report
The Control Valve Market is expected to garner USD 13,674 Million by 2022, registering a CAGR of 7.6% during the forecast period 2016–2022
View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-1O67/control-valve
● Industrial Ball Valves Market Report
● Industrial Butterfly Valves Market Report
● Gate Valves Market Report
● Globe Valves Market Report
● Check Valves Market Report
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