Global Industrial Valves Market: Rising automation on account of increased industrialization and expansion of existing facilities are projected to drive the market over the forecast period.

The global industrial valves market size was valued at USD 48.1 billion in 2020 and is projected to reach USD 100.74 billion by 2027 with a CAGR of 11.1%. Industrial valves are devices that control the flow and pressure of liquids and gases within a system. Valves are used to control the flow of liquids and gases in the piping systems and it should be checked consistently to avoid any risks such as leakage and corrosion. On the other hand, valves used in industries can be operated manually or automatically.

Growth of industrial valves market is driven by increasing demand in industries such as oil and gas, wastewater and power among others. The government of developing countries such as Brazil, India, and China among others is investing heavily in pipeline infrastructure development mainly in oil and gas sector, which is expected to drive the installation of industrial valves over the forecasted period. This result in higher demand of valves used in valve actuators namely, electrically, hydraulically and pneumatically among others in different industry verticals. Moreover, continuous generation of power via existing and old power plant is also driving the demand for industrial valves market in power sector.

Some of the major restraints for industrial valves market are price war among vendors and strict government regulations and policies in the market. The participation of cross-industry vendors in the industrial valves market is also escalating the competition among valve vendors. For instance, pump and filtration vendors are offering valves along with the core valve vendors. However, the companies would have to develop specialized products in order to bring about product differentiation and produce higher margin valves which will be less vulnerable to competition.

The pandemic has affected the oil & gas industry badly, with oil prices slashing like never before. Key oil-producing companies are running out of storage space for extracted oil, and the demand is on a declining trend. This has resulted in a huge gap between supply and demand. Oil & gas is one of the key industries for industrial valves. The pandemic has an adverse impact on the growth of the industrial valves market.

Some of the key players operating in the industrial valves market are Pentair ltd, Flowserve Corporation, Emerson Electric Co, FMC Technologies, Alfa Laval AB, L&T Valves Ltd, IMI plc, Crane Co, AVK Group, Tyco International, Kitz Corp, Circor International, Inc., Curtiss-Wright Corp. and Cameron International Corporation among others.

The market in North America has been classified into the US, Canada, and Mexico. North America is a key market for industrial valves as the region is home to a few of the largest multinational corporations, such as Emerson (US), Cameron-Schlumberger (US), Flowserve Corporation (US), Crane Co. (US). The increasing R&D activities in the region pertaining to the use of actuators in the valves for automation and the rising demand for safety applications are among the crucial factors driving the market in North America. R&D at industry levels is broadening the application areas of industrial valves in different industries, such as energy & power and chemicals, in the US. Control valves are used in the oil & gas, energy & power, and water & wastewater treatment industries to control media flow through a system, as well as to start, stop, or throttle the flow and ensure safe and efficient process automation.