Global Industrial Valves Market Grows at a Steady CAGR of 6%

Introduction

The global industrial valves market is set for substantial expansion, propelled by increasing demand in sectors including oil and gas, water and wastewater treatment, power generation, and chemical processing. The modernisation of ageing infrastructure and swift industrialisation in emerging economies drive the demand for sophisticated valve solutions. Technological improvements, such as integrating IoT and automation in valve systems, improve operating efficiency and real-time monitoring capabilities. Moreover, the focus on energy economy and rigorous environmental standards promotes the utilisation of smart valves that provide accurate control and diminished emissions. The Asia-Pacific area, especially nations such as China and India, is experiencing significant expenditures in infrastructure and industrial initiatives, enhancing market expansion.

Market Dynamics

Augmentation of the petroleum and natural gas sector drives market growth

The growth of the oil and gas sector is a major catalyst for the industrial valves market. Valves are essential to upstream, midstream, and downstream operations, facilitating safe and efficient hydrocarbon flow management. The revival of oil exploration endeavours, particularly in areas such as the Middle East, North America, and Asia-Pacific, elevates the demand for high-performance valves.

• In August 2024, Arrow Energy revealed its intention to expand the Surat Gas Project in Queensland, Australia, with plans to drill 450 more gas wells to satisfy rising energy demands. This growth requires sophisticated valve solutions that endure harsh conditions and guarantee operating efficiency.

Moreover, extracting unconventional oil and gas resources, like shale gas and oil sands, necessitates specialised valves that endure severe pressures and temperatures. Incorporating smart valve technology in the oil and gas industry improves operating efficiency, safety, and environmental compliance. The increasing worldwide energy demand will directly impact the growth of the industrial valves market, driven by the expansion of the oil and gas industry.

Development of infrastructure in emerging economies creates tremendous opportunities

Emerging economies provide substantial prospects for the industrial valves market due to extensive infrastructure development initiatives. Countries such as India, China, and Brazil significantly spend on water and wastewater treatment, power generation, and oil and gas to accommodate their expanding populations and industrial operations. These projects necessitate diverse industrial valves for flow regulation, pressure management, and safety purposes.

• In August 2024, India's Union Cabinet sanctioned the establishment of the Palakkad Industrial Smart City in Kerala, a greenfield initiative covering 1,710 acres with an anticipated investment of ₹28,602 crore. This effort, integral to the Kochi-Bengaluru Industrial Corridor, emphasises areas such as chemicals, machinery, and equipment, all necessitating advanced valve systems.

Government initiatives to enhance water infrastructure and energy efficiency drive the demand for sophisticated valve solutions. Implementing smart city principles in these areas facilitates incorporating intelligent valve systems for improved resource management. Manufacturers can develop a robust presence in these areas by providing tailored solutions that address the special requirements of emerging economies. Collaborations with local partners and investments in regional production facilities can boost market penetration and competitiveness.

Regional Analysis

The Asia-Pacific region represented the biggest revenue share at 35.8% and is projected to experience the most rapid increase throughout the projection period. The region's swift industrialisation, infrastructural advancement, and increasing focus on energy efficiency are principal catalysts. Countries such as China, India, and Japan are witnessing substantial demand for sophisticated valves owing to manufacturing, automotive, and power-generating advancements. In February 2024, Japan allocated nearly USD 1.5 billion in loans for nine infrastructure projects in India, highlighting the region's dedication to economic development. Furthermore, incorporating digitalisation and IoT into valve systems revolutionises the business, as intelligent valves improve efficiency and minimise downtime.

Key Highlights

• The global industrial valves market size was valued at USD 78.2 billion in 2024 and is projected to grow from USD 86.67 billion in 2025 to USD 131.6 billion by 2033, exhibiting a CAGR of 6% during the forecast period (2025-2033).
• By Product Type, the market is segmented into gate valves, globe valves, butterfly valves, ball valves, check valves, plug valves, and others. Ball valves continue to lead the industrial valves market, accounting for over 17.3% of global revenue in 2024.
• By Functionality, the market is segmented into on-off/isolation valves and control valves. On-Off/Isolation valves hold a significant market share due to their critical role in ensuring safety and operational efficiency.
• By Material, the market is segmented into steel, cast iron, alloy-based, and others. Steel valves are preferred for their strength, durability, and resistance to high pressures and temperatures.
• By End-Use Industry, the market is segmented into oil & gas, power generation, pharmaceutical, water & wastewater treatment, chemical, food & beverage, and others.The oil & gas industry remains the largest end-user of industrial valves, accounting for approximately 35% of the global market share in 2024.
• Based on region, the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific dominates the global market.

Competitive Players

1. Emerson Electric Co.
2. Flowserve Corporation
3. IMI plc
4. Rotork plc
5. KSB SE & Co. KGaA
6. Samson AG
7. Weir Group plc
8. Mankenberg GmbH
9. Kirloskar Brothers Limited
10. Alfa Laval AB
11. PJ Valves
12. Beijer Tech
13. Tecnik Fluid Controls
14. MOGAS Industries

Recent Developments

• In November 2024, Samson introduced the new modular Type 251GR valve, designed to enhance efficiency in industrial applications. The valve features a modular design for flexibility, easy maintenance, and adaptability in various process control scenarios
• In August 2024, Flowserve announced its agreement to acquire MOGAS Industries for USD 290 million to strengthen its position in the mining and mineral extraction sectors.
• In February 2024, Beijer Tech agreed to acquire 100% of AVS Power Oy, a Finnish manufacturer of industrial valves, to enhance its product portfolio and expand its presence in the Nordic region.

Segmentation

1. By Product Type
   1. Gate Valves
   2. Globe Valves
   3. Butterfly Valves
   4. Ball Valves
   5. Check Valves
   6. Plug Valves
   7. Others
2. By Functionality
   1. On-Off/Isolation Valves
   2. Control Valves
3. By Material
   1. Steel
   2. Cast Iron
   3. Alloy-Based
   4. Others
4. By End-Use Industry
   1. Oil & Gas
   2. Power Generation
   3. Pharmaceutical
   4. Water & Wastewater Treatment
   5. Chemical
   6. Food & Beverage
   7. Others
5. By Region
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa