Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography - Global Forecast to 2023

The industrial valve market is likely to witness rapid growth in the coming years due to the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient. The industrial valve market was valued at USD 67.49 billion in 2017 and is expected reach USD 85.19 billion by 2023, at a CAGR of 3.96% during the forecast period.

A few tier I players in this market have started offering IoT-enabled valves and solutions. As of 2017, key industry players, such as Metso (Finland) and Emerson Electric Company (US), have introduced IoT in their industrial valve products and services and are striving to push their adoption in the market. However, by 2020–2022, tier II players from this industry would also integrate these technologies to offer reliable and connected valves to every end-user industry.

Market Dynamics

Drivers

• Increased need for industrial valves from oil and gas production-related facilities in GCC countries
• Elevated energy demand in APAC
• Smart city development initiatives across the world
• High demand for automation and predictive maintenance techniques from manufacturing industries
• Stringent environmental and safety regulations to make the energy sector more resilient

Restraints

• Lack of standardized certifications and government policies
• Slowdown in oil and gas extraction
• Downtime due to repair and maintenance

Opportunities

• Integration of IIoT technology in industrial valves
• Use of 3D printers in the manufacturing sector 
• Constant need for valve replacement
• Increase in the number of refineries and petrochemical plants
• Rise in the discovery of global offshore oil reserves

Challenges

• Minimization of lead times
• High cost of fabrication
• Existence of manufacturers providing low-priced valves 
• Duplication of technology

Report Objectives:

The base year considered for the study is 2017, and the forecast period is from 2018 to 2023. The objective of the report is to provide a detailed analysis of the industrial valve market by material, valve type, valve size, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the industrial valve market.

Methodology

The research methodology used to estimate and forecast the industrial valve market begins with obtaining data through secondary research such as corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; journals and certified publications related to drone sensors; articles from recognized authors; gold and silver standard websites; directories; and databases. Key offerings of industrial valve providers have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the industrial valve market from the revenues of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which then has been verified through primary research by conducting extensive interviews with officials holding key positions in the industry, such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure.

To know about the assumptions considered for the study, download the pdf brochure

Emerson (US), Cameron – Schlumberger (US), IMI PLC (US), Flowserve (US), and Weir Group (UK) are among the major players in the industrial valve market

Target Audience of the Report:

• Industrial valve manufacturers and end-user industries
• Industrial valve market players

This study answers several questions for stakeholders, primarily regarding the market segments to focus on in the next 2 to 2 years for prioritizing efforts and investments.

Scope of the Report:

This research report categorizes the overall industrial valve market on the basis of material, valve size, valve type, industry, and geography.

Industrial Valve Market, by Material

• Steel
• Iron
• Cryogenic
• Alloys
• Others (Brass, Bronze, Plastic)

Industrial Valve Market, by Valve Type

• Ball Valves
• Butterfly Valves
• Check Valves
• Diaphragm Valves
• Gate Valves
• Globe Valves
• Safety Valves

Industrial Valve Market, by Valve Size

• Up to 1”
• 1” to 6”
• 6” to 25”
• 25” to 50”
• 50” and Larger

Industrial Valve Market, by Industry

• Oil & Gas
• Energy & Power
• Water and Wastewater Treatment
• Food & Beverages
• Chemicals
• Pharmaceuticals
• Construction
• Pulp & Paper
• Metals & Mining
• Agriculture
• Others (Textiles, Glass, and Semiconductor Manufacturing)

Drone Sensor Market, by Geography

• North America
• Europe
• APAC
• RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companies’ specific needs. The following customization options are available for the report:

Geographic Analysis

• Further breakdown of geography segment, by country

Company Information

• Detailed analysis and profiling of additional market players based on various blocks of the value chain

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
           2.2.3 Market Share Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in Industrial Valve Market
    4.2 Industrial Valve Market, By Material
    4.3 Industrial Valve Market, By Valve Type
    4.4 Industrial Valve Market, By Valve Size
    4.5 Industrial Valve Market, By Industry
    4.6 Industrial Valve Market in North America, By Country and Industry, 2023
    4.7 Industrial Valve Market, By Geography (2018–2023)

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increased Need for Industrial Valves From Oil and Gas Production-Related Facilities in GCC Countries
                    5.2.1.2 Elevated Energy Demand in APAC
                    5.2.1.3 Smart City Development Initiative Across the World
                    5.2.1.4 High Demand for Predictive Maintenance Techniques From Manufacturing Industries
                    5.2.1.5 Stringent Environmental and Safety Regulations to Make Energy Sector More Resilient
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardized Certifications and Government Policies
                    5.2.2.2 Slowdown in Oil and Gas Extraction
                    5.2.2.3 Downtime Due to Repair and Maintenance
           5.2.3 Opportunities
                    5.2.3.1 Integration of Iiot Technology in Industrial Valves
                    5.2.3.2 Use of 3d Printing in Manufacturing Sector
                    5.2.3.3 Constant Need for Valve Replacement
                    5.2.3.4 Increase in Number of Refineries and Petrochemical Plants
                    5.2.3.5 Rise in the Discovery of Global Offshore Oil Reserves
           5.2.4 Challenges
                    5.2.4.1 Minimization of Lead Times
                    5.2.4.2 High Cost of Fabrication
                    5.2.4.3 Existence of Manufacturers Providing Low-Priced Valves
                    5.2.4.4 Duplication of Technology

6 Industry Trends (Page No. - 44)
    6.1 Introduction
    6.2 Value Chain
    6.3 Consumer Buying Process
    6.4 IoT Impact on Industrial Valve Market

7 Industrial Valve Market, By Material (Page No. - 48)
    7.1 Introduction
    7.2 Stainless Steel
    7.3 Cast Iron
    7.4 Cryogenic
    7.5 Alloy Based
    7.6 Others
           7.6.1 Brass
           7.6.2 Bronze
           7.6.3 Plastic

8 Industrial Valve Market, By Valve Type (Page No. - 56)
    8.1 Introduction
    8.2 Ball Valves
    8.3 Butterfly Valves
    8.4 Check Valves
    8.5 Diaphragm Valves
    8.6 Gate Valves
           8.6.1 Standard Plate Gate Valves
           8.6.2 Wedge Gate Valves
           8.6.3 Knife Gate Valves
    8.7 Globe Valves
    8.8 Plug Valves
    8.9 Safety Valves

9 Industrial Valve Market, By Size (Page No. - 67)
    9.1 Introduction
    9.2 Up to 1”
    9.3 1–6”
    9.4 6–25”
    9.5 25–50”
    9.6 50” and Larger

10 Industrial Valve Market, By Industry (Page No. - 71)
     10.1 Introduction
     10.2 Oil & Gas
     10.3 Water & Wastewater Treatment
     10.4 Energy & Power
     10.5 Chemicals
     10.6 Food & Beverages
     10.7 Pharmaceuticals
     10.8 Construction
     10.9 Agriculture
     10.10 Pulp & Paper
     10.11 Metals & Mining
     10.12 Others

11 Geographic Analysis (Page No. - 111)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 UK
             11.3.2 Germany
             11.3.3 France
             11.3.4 Italy
             11.3.5 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 India
             11.4.5 Rest of APAC
     11.5 Rest of the World (RoW)
             11.5.1 Middle East
             11.5.2 South America
             11.5.3 Africa

12 Competitive Landscape (Page No. - 139)
     12.1 Overview
     12.2 Market Player Ranking Analysis
     12.3 Competitive Scenario
             12.3.1 Competitive Situation and Trend
             12.3.2 Acquisitions & Expansions
             12.3.3 Product Launches and Developments
             12.3.4 Partnerships & Collaborations
             12.3.5 Others

13 Company Profiles (Page No. - 148)
     13.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.2 Key Players
             13.2.1 Emerson
             13.2.2 Weir Group PLC
             13.2.3 Flowserve
             13.2.4 Cameron - Schlumberger
             13.2.5 IMI PLC
             13.2.6 Spirax Sarco
             13.2.7 Crane Co.
             13.2.8 Kitz Corporation
             13.2.9 Metso Corporation
             13.2.10 Neway Valve (Suzhou) Co., Ltd.
     13.3 Other Important Players
             13.3.1 Velan Inc.
             13.3.2 Samson AG
             13.3.3 AVK Holding A/S
             13.3.4 Avcon Controls
             13.3.5 Forbes Marshall
             13.3.6 Swagelok
             13.3.7 Ham–Let
             13.3.8 Dwyer Instruments
             13.3.9 KIM Valves
             13.3.10 Apollo Valves

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 182)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details

List of Tables (98 Tables)

Table 1 Industrial Valve Market, By Material, 2015–2023 (USD Billion)
Table 2 Steel Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 3 Cast Iron Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 4 Cryogenic Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 5 Alloy-Based Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 6 Other Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 7 Industrial Valve Market, By Valve Type, 2015–2023 (USD Billion)
Table 8 Industrial Ball Valve Market, By Industry, 2015–2023 (USD Billion)
Table 9 Industrial Butterfly Valve Market, By Industry, 2015–2023 (USD Billion)
Table 10 Industrial Check Valve Market, By Industry, 2015–2023 (USD Billion)
Table 11 Industrial Diaphragm Valve Market, By Industry, 2015–2023 (USD Million)
Table 12 Industrial Gate Valve Market, By Industry, 2015–2023 (USD Billion)
Table 13 Industrial Globe Valve Market, By Industry, 2015–2023 (USD Billion)
Table 14 Industrial Plug Valve Market, Byindustry, 2015–2023 (USD Billion)
Table 15 Industrial Safety Valve Market, By Industry, 2015–2023 (USD Billion)
Table 16 Industrial Valve Market, By Valve Size , 2015–2023 (USD Billion)
Table 17 Industrial Valve Market, By Industry, 2015–2023 (USD Billion)
Table 18 Industrial Valve Market in Oil & Gas Industry, By Region, 2015–2023 (USD Billion)
Table 19 Industrial Valve Market in North America for Oil & Gas Industry, By Country, 2015–2023 (USD Billion)
Table 20 Industrial Valve Market in Europe for Oil & Gas Industry, By Country, 2015–2023 (USD Million)
Table 21 Industrial Valve Market in APAC for Oil & Gas Industry, By Country, 2015–2023 (USD Billion)
Table 22 Industrial Valve Market in RoW for Oil & Gas Industry, By Region, 2015–2023 (USD Billion)
Table 23 Industrial Valve Market in Water & Wastewater Treatment Industry, By Region, 2015–2023 (USD Billion)
Table 24 Industrial Valve Market in North America for Water & Wastewater Treatment Industry, By Country, 2015–2023 (USD Billion)
Table 25 Industrial Valve Market in Europe for Water & Wastewater Treatment Industry, By Country, 2015–2023 (USD Billion)
Table 26 Industrial Valve Market in APAC for Water & Wastewater Treatment Industry, By Country, 2015–2023 (USD Billion)
Table 27 Industrial Valve Market in RoW for Water & Wastewater Treatment Industry, By Region, 2015–2023 (USD Million)
Table 28 Industrial Valve Market for Energy & Power Industry, By Region, 2015–2023 (USD Billion)
Table 29 Industrial Valve Market in North America for Energy & Power Industry, By Country, 2015–2023 (USD Billion)
Table 30 Industrial Valve Market in Europe for Energy & Power Industry, By Country, 2015–2023 (USD Million)
Table 31 Industrial Valve Market in APAC for Energy & Power Industry, By Country, 2015–2023 (USD Billion)
Table 32 Industrial Valve Market in RoW for Energy & Power Industry, By Region, 2015–2023 (USD Million)
Table 33 Industrial Valve Market for Chemicals Industry, By Region, 2015–2023 (USD Billion)
Table 34 Industrial Valve Market in North America for Chemicals Industry, By Country, 2015–2023 (USD Billion)
Table 35 Industrial Valve Market in Europe for Chemicals Industry, By Country, 2015–2023 (USD Billion)
Table 36 Industrial Valve Market in APAC for Chemicals Industry, By Country, 2015–2023 (USD Billion)
Table 37 Industrial Valve Market in RoW for Chemicals Industry, By Region, 2015–2023 (USD Million)
Table 38 Industrial Valve Market in Food & Beverages Industry, By Region, 2015–2023 (USD Billion)
Table 39 Industrial Valve Market in North America for Food & Beverages Industry, By Country, 2015–2023 (USD Million)
Table 40 Industrial Valve Market in Europe for Food & Beverages Industry, By Country, 2015–2023 (USD Million)
Table 41 Industrial Valve Market in APAC for Food & Beverages Industry, By Country, 2015–2023 (USD Million)
Table 42 Industrial Valve Market in RoW for Food & Beverages Industry, By Region, 2015–2023 (USD Million)
Table 43 Industrial Valve Market in Pharmaceuticals Industry, By Region, 2015–2023 (USD Million)
Table 44 Industrial Valve Market in North America for Pharmaceuticals Industry, By Country, 2015–2023 (USD Million)
Table 45 Industrial Valve Market in Europe for Pharmaceuticals Industry, By Country, 2015–2023 (USD Million)
Table 46 Industrial Valve Market in APAC for Pharmaceuticals Industry, By Country, 2015–2023 (USD Billion)
Table 47 Industrial Valve Market in RoW for Pharmaceuticals Industry, By Region, 2015–2023 (USD Million)
Table 48 Industrial Valve Market in Construction Industry, By Region, 2015–2023 (USD Billion)
Table 49 Industrial Valve Market in North America for Construction Industry, By Country, 2015–2023 (USD Million)
Table 50 Industrial Valve Market in Europe for Construction Industry, By Country, 2015–2023 (USD Million)
Table 51 Industrial Valve Market in APAC for Construction Industry, By Country, 2015–2023 (USD Million)
Table 52 Industrial Valve Market in RoW for Construction Industry, By Region, 2015–2023 (USD Million)
Table 53 Industrial Valve Market in Agriculture Industry, By Region, 2015–2023 (USD Billion)
Table 54 Industrial Valve Market in North America for Agriculture Industry, By Country, 2015–2023 (USD Million)
Table 55 Industrial Valve Market in Europe for Agriculture Industry, By Country, 2015–2023 (USD Million)
Table 56 Industrial Valve Market in APAC for Agriculture Industry, By Country, 2015–2023 (USD Million)
Table 57 Industrial Valve Market in RoW for Agriculture Industry, By Region, 2015–2023 (USD Million)
Table 58 Industrial Valve Market in Pulp & Paper Industry, By Region, 2015–2023 (USD Million)
Table 59 Industrial Valve Market in North America for Pulp & Paper Industry, By Country, 2015–2023 (USD Million)
Table 60 Industrial Valve Market in Europe for Pulp & Paper Industry, By Country, 2015–2023 (USD Million)
Table 61 Industrial Valve Market in RoW for Pulp & Paper Industry, By Region, 2015–2023 (USD Million)
Table 62 Industrial Valve Market in RoW for Pulp & Paper Industry, By Region, 2015–2023 (USD Million)
Table 63 Industrial Valve Market for Metals & Mining Industry, By Region, 2015–2023 (USD Billion)
Table 64 Industrial Valve Market in North America for Metals & Mining Industry, By Country, 2015–2023 (USD Million)
Table 65 Industrial Valve Market in Europe for Metals & Mining Industry, By Country, 2015–2023 (USD Million)
Table 66 Industrial Valve Market in APAC for Metals & Mining Industry, By Country, 2015–2023 (USD Million)
Table 67 Industrial Valve Market in RoW for Metals & Mining Industry, By Region, 2015–2023 (USD Billion)
Table 68 Industrial Valve Market for Other Industries, By Region, 2015–2023 (USD Million)
Table 69 Industrial Valve Market in North America for Other Industries, By Country, 2015–2023 (USD Million)
Table 70 Industrial Valve Market in Europe for Other Industries, By Country, 2015–2023 (USD Million)
Table 71 Industrial Valve Market in APAC for Other Industries, By Country, 2015–2023 (USD Million)
Table 72 Industrial Valve Market in RoW for Other Industries, By Region, 2015–2023 (USD Million)
Table 73 Industrial Valve Market, By Region, 2015–2023 (USD Billion)
Table 74 Industrial Valve Market in North America, By Country, 2015–2023 (USD Billion)
Table 75 Industrial Valve Market in Us, By Industry, 2015–2023 (USD Million)
Table 76 Industrial Valve Market in Canada, By Industry, 2015–2023 (USD Million)
Table 77 Industrial Valve Market in Mexico, By Industry, 2015–2023 (USD Million)
Table 78 Industrial Valve Market in Europe, By Country, 2015–2023 (USD Billion)
Table 79 Industrial Valve Market in Uk, By Industry, 2015–2023 (USD Million)
Table 80 Industrial Valve Market in Germany, By Industry, 2015–2023 (USD Million)
Table 81 Industrial Valve Market in France, By Industry, 2015–2023 (USD Million)
Table 82 Industrial Valve Market in Italy, By Industry, 2015–2023 (USD Million)
Table 83 Industrial Valve Market in Rest of Europe, By Industry, 2015–2023 (USD Million)
Table 84 Industrial Valve Market in APAC, By Country, 2015–2023 (USD Billion)
Table 85 Industrial Valve Market in China, By Industry, 2015–2023 (USD Million)
Table 86 Industrial Valve Market in Japan, By Industry, 2015–2023 (USD Million)
Table 87 Industrial Valve Market in South Korea, By Industry, 2015–2023 (USD Million)
Table 88 Industrial Valve Market in India, By Industry, 2015–2023 (USD Million)
Table 89 Industrial Valve Market in Rest of APAC, By Industry, 2015–2023 (USD Million)
Table 90 Industrial Valve Market in RoW, By Region, 2015–2023 (USD Billion)
Table 91 Industrial Valve Market in Middle East, By Industry, 2015–2023 (USD Million)
Table 92 Industrial Valve Market in South America, By Industry, 2015–2023 (USD Million)
Table 93 Industrial Valve Market in Africa, By Industry, 2015–2023 (USD Million)
Table 94 Ranking of Top 5 Players in Industrial Valve Market, 2017
Table 95 Acquisitions & Expansions
Table 96 Product Launches and Developments
Table 97 Partnerships & Collaborations
Table 98 Key Agreements & Contracts (April 2014 to February 2018)

List of Figures (63 Figures)

Figure 1 Industrial Valve Market Segmentation
Figure 2 Industrial Valve Market: Research Design
Figure 3 Research Flow of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of Research Study
Figure 8 Ball Valves to Account for Largest Size of Industrial Valve Market, Based on Valve Type, By 2023
Figure 9 Steel Valves to Hold Largest Size of Industrial Valve Market, Based on Material, By 2023
Figure 10 Oil & Gas Industry to Hold Largest Size of Industrial Valve Market, Based on Industry, By 2023
Figure 11 Industrial Valves With Sizes Ranging From 1–6” Expected to Account for Largest Market Size During Forecast Period
Figure 12 Industrial Valve Market in APAC to Grow at Highest CAGR During Forecast Period
Figure 13 Increasing Investments in Oil & Gas and Energy & Power Industries to Drive Industrial Valve Market Growth
Figure 14 Steel Valves to Hold Largest Size of Industrial Valve Market, Based on Material, During Forecast Period
Figure 15 Ball Industrial Valves to Hold Largest Market Size By 2023
Figure 16 Industrial Valves With Sizes Ranging From 1–6” Expected to Account for Largest Market Size During Forecast Period
Figure 17 Industrial Valve Market for Agriculture Industry to Grow at Highest CAGR During Forecast Period
Figure 18 Water & Wastewater Treatment Industry to Account for Largest Share of Industrial Valve Market in North America By 2023
Figure 19 India to Offer Enormous Potential for Industrial Valve Market Growth During 2018–2023
Figure 20 Drivers, Restraints, Opportunities, and Challenges for Industrial Valve Market
Figure 21 Raw Material Suppliers and OEMs Together Add Maximum Value
Figure 22 Consumer Buying Process
Figure 23 IoT Impact on Valve Market
Figure 24 Steel Valves to Account for Largest Size of Industrial Valve Market, Based on Materials, By 2023
Figure 25 Ball Valves to Hold Largest Size of Industrial Valve Market During Forecast Period
Figure 26 Top Valve Performance and Size Selection Preferences
Figure 27 Industrial Valves Ranging From 1” to 6” to Account for the Largest Share During the Forecast Period
Figure 28 Oil & Gas Industry to Account for Largest Size of Industrial Valve Market, Based on Industry, By 2023
Figure 29 Oil Production and Consumption Trend, 2000–2016
Figure 30 Gas Production and Consumption Trend, 2000–2016
Figure 31 Industrial Valve Applications in Oil & Gas Industry
Figure 32 Industrial Valve Applications in Water & Wastewater Treatment Plants
Figure 33 Comparative Primary Energy Consumption Over Past 13 Years
Figure 34 Industrial Valve Applications in Energy & Power: Combined Cycle Power Plant
Figure 35 Industrial Valve Applications in Chemical Plants
Figure 36 Industrial Valve Applications in Food & Beverages Industry
Figure 37 Industrial Valve Applications in Construction
Figure 38 Industrial Valve Market: Geographic Snapshot
Figure 39 Snapshot of Industrial Valve Market in North America
Figure 40 Oil Production Data and YoY Growth Rate (%) in US ( Up to 2015)
Figure 41 Gas Production Data and YoY Growth Rate (%) in US (Up to 2016)
Figure 42 Oil Production Data and YoY Growth Rate (%) in Canada (Up to 2015)
Figure 43 Gas Production Data and YoY Growth Rate (%) in Canada (Up to 2016)
Figure 44 Oil Production Data and YoY Growth Rate (%) in Mexico (Up to 2016)
Figure 45 Gas Production Data and YoY Growth Rate (%) in Mexico Up to 2016)
Figure 46 Oil Production Data and YoY Growth Rate % in Europe (Up to 2016)
Figure 47 Oil Production Data and YoY Growth Rate % in Europe (Up to 2016)
Figure 48 Snapshot of Industrial Valve Market in Europe
Figure 49 Oil Production Data and YoY Growth Rate (%) in Asia Pacific (Up to 2016)
Figure 50 Gas Production Data and YoY Growth Rate (%) in Asia Pacific (Up to 2016)
Figure 51 Snapshot of Industrial Valve Market in Asia Pacific
Figure 52 Market Players Adopted Acquisitions as Key Growth Strategy Between April 2014 and February 2018
Figure 53 Evaluation Framework: Industrial Valve Market
Figure 54 Emerson: Company Snapshot
Figure 55 Weir Group PLC: Company Snapshot
Figure 56 Flowserve Corporation: Company Snapshot
Figure 57 Schlumberger: Company Snapshot
Figure 58 IMI PLC: Company Snapshot
Figure 59 Spirax Sarco PLC: Company Snapshot
Figure 60 Crane Co.: Company Snapshot
Figure 61 Kitz Corporation: Company Snapshot
Figure 62 Metso Corporation: Company Snapshot
Figure 63 Neway Valve (Suzhou) Co., Ltd.: Company Snapshot

The industrial valve market is expected to grow from USD 70.53 billion in 2018 to USD 85.19 billion by 2023, at a CAGR of 3.96% between 2018 and 2023. The key factors driving the growth of this market include the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient.

Among all applications, the oil & gas industry is expected to account for the largest size of the industrial valve market during the forecast period. Recent uptrend in the oil & gas industry has boosted the demand for and increased the production of oil and gas in the Middle East and North America. Growing production of oil sands and shale gas fuels the demand for industrial valves in North America, and the increased investments in natural gas exploration and refineries are likely to boost the demand for these valves during the forecast period. Additionally, technological advancements and the adoption of more innovative valves for oil and gas transportation are the major factors that are likely to have a positive impact on the industrial valve market growth.

Cryogenic valves are expected to be the fast-growing segment in the industrial valve market, based on material, during the forecast period. Cryogenic plug valves are expected to be highly installed in the oil & gas and chemicals industries for the isolation application, that is, to separate cryogenic media from other media. The oil & gas, energy & power, and chemicals industries are likely to have high demand for cryogenic ball valves due to their ability of quarter turn on-off operation, minimal lubrication, and capability to provide tight sealing with low torque in cryogenic fluid handling applications and will drive the market for these valves during the forecast period.

Plug valves will be the fastest-growing market for industrial valves during the forecast period. The market for industrial plug valves is expected to grow at a rapid pace in the coming years due to the competitive trend in the APAC and European chemical companies.

Industrial valve applications in oil & gas, energy & power, and water and wastewater treatment drive the market growth

Oil & Gas

Each segment of the oil & gas industry upstream, midstream, and downstream offers its own examples of extreme conditions for valves. In the upstream segment, valves control the flow of crude oil and natural gas from high-pressure injection systems to choke valves and blow-out preventers at the top of wells. In the upstream segment, valves are used in gas treatment and liquefaction, and storage in the oil and gas plant. Valves, generally gate or ball valves, are selected especially for tight shut-off, flow erosion resistance, and corrosion resistance. Cryogenic services demand that valves should be made of materials compatible with low temperatures and other special designs. Midstream solutions for loading/offloading terminals and storage tanks for oil and gas products offer more opportunities for valve suppliers. Gate valves are commonly used for oil and refined-product pipelines, and ball valves are usually implemented for gas pipelines. Valve requirements for the downstream market include higher pressure designs and metal-seating technology and metallurgies to accommodate temperatures at which modern refineries operate.

The increasing demand for maintenance operations in refineries will create lucrative opportunities to companies with core engineering competencies. Apart from the growing demand for fuel and subsequent capacity expansions, the market for maintenance repair overhaul (MRO) services will get a boost from stringent environmental and quality regulations. All these factors will boost the demand for industrial valves from the oil & gas sector.

Energy & Power

A large power plant uses hundreds of valves to manage the flow of water and steam. In this plant, valves are used in different units/systems, such as gas pipelines, SCR storage and gas injection units, fuel storage and distribution systems, combustion turbines, flash tanks, steam turbines with condensers, feed water distribution units, heat exchangers, and deaerators. In the energy & power industry, valves are also used to stop and start the flow, reduce or increase the flow, control the direction of the flow, and regulate the flow or process pressure or relieve a pipe system of a certain pressure. Applications of industrial valves include pollution control, feed water, cooling water, chemical treatment, and steam turbine control systems.

Water & Wastewater Treatment

In the water & wastewater treatment industry, application-specific valves are used in finished water storage units, influent control units, equalization basin systems, blowers, pumps, neutralization units, sludge thickening units, filtration units, disinfection units, incinerators, and others.

The need for clean water and wastewater treatment facilities will increase despite the industry struggles with rising operational and maintenance costs because of the increasing expenditures on chemicals and enhanced treatment procedures. The industry also must adapt more easily to meet changing environmental regulations and comply with the existing and upcoming federal water regulations. These factors will drive the demand for industrial valves from the water & wastewater treatment industry.

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