Industrial Valves Market - Forecasts from 2021 to 2026

April 2021 | 130 pages | ID: IB93610B536FEN
Knowledge Sourcing Intelligence LLP

Abstracts

The industrial valves market is projected to grow at a CAGR of 4.24% to reach a market size of US$90.117 billion in 2026 from US$67.404 billion in 2019. Valves are mechanical devices that control the flow and pressure of liquids, gases, and slurries within a system. They are an essential part of pipelines and multiple processes across many industries. Industries such as chemical, power, metalworking, and oil and gas all have an increasing demand for innovative valves that meet the industry’s requirements. Recent incidences of accidents in factories and manufacturing facilities due to faulty valves are demanding high-performance industrial valves that provide better security to the equipment and the workers. This, in turn, is driving the demand for highly efficient industrial valves.

Impact of COVID on the market.

The industrial valve market has been affected severely by the outbreak of coronavirus. One of the major players using valves is Oil and Gas industry. The oil and gas industry has been affected due to COVID-19, there was a fall in the prices of oil like never before and shortage of storage spaces and weaker demand negatively impacted the oil and gas industry. Similarly, various other industries faced a negative impact due to COVID as they had to halt production in their manufacturing units due to lockdown restrictions in various countries around the globe. It is estimated that post-COVID when the economic conditions are back to normal, the economy will revive and the market of industrial valves will grow.

Market Drivers.

• There has been an increase in the demand for industrial valves from the pharmaceutical and healthcare industries due to the coronavirus outbreak. The essential medical devices necessary to treat COVID patients are increasingly being produced. The manufacture of various types of medical devices is critical for the industrial valves market, with many major players in the industry taking advantage of the opportunity to combat the deadly pandemic caused by Coronavirus.
• The oil and gas industry is estimated to be one of the largest market shareholders among the end-user industries. The growing demand for energy and growth in the transportation sector are some of the reasons for the lucrative growth in the oil and gas industry, this in turn will lead to a boost in the demand for industrial valves in the market.

Key Developments.

• In January 2020, Danfoss A/S a Power management company announced that it had agreed with Eaton to acquire its Hydraulics business for $3.3 billion. This strategic acquisition will enable Danfoss to strengthen its core businesses and enhance value for its customers.
• Emerson has announced in February 2021, that it has made equity investments in Fluxa. The investment will build on Emerson's leadership in life sciences capabilities and help Fluxa broaden the company's technology growth and business portfolio to provide industry solutions.
• IMI PLC announced in August 2019, of acquiring PBM Inc., a specialty valve manufacturer for a value of $85 million. This strategic acquisition of PBM will enable IMI to broaden its Critical Engineering’s offering into very attractive and adjacent markets.
• Emerson and IMA Active in March 2021 announced their collaboration for developing new software and strategies to control continuous manufacturing of oral solid dose pharmaceuticals.
• Flowserve Corporation announced in March 2021 that it will be providing pumps, valves, and seals to Pfizer to support the production of its COVID-19 vaccine.
• Neles in November 2020 signed an agreement with 13 new distributors in India, Sri Lanka, and Bangladesh. These new distributors will help Neles expand its coverage of valve offering in the different customer industries.

Market Restraints.

• The industrial valve market lacks standardized norms and governing policies. The different regions around the world have different policies and certifications concerning the valves. The strict government regulations hinder growth in the industrial valves market.
• The price war among the vendors also holds back growth in the industrial valves in the market. The competition between the suppliers of the valves is also increasing with cross-industry vendors in the industrial valve sector. E.g., suppliers of pumps and filters supply valves alongside the main valve suppliers. Companies should create advanced products to achieve product distinction and higher-margin valves that are less competitively vulnerable.

The Asia Pacific to witness significant market growth.

The Asia Pacific region is estimated to witness significant growth in the market of industrial valves. India and China are one of the largest shareholders in the region driving growth in the region. The growing need for water treatment and expansion of oil and gas industrial activities will boost the demand for industrial valves in the region.

The North American region is estimated to be the largest shareholder in the region of industrial valves market. This region is home to some of the largest corporations such as Emerson, Flowserve Corporation, Cameron-Schlumberger, and Crane Co. The increase in R&D in these major companies boosts growth in the region.

Major Players.

The major players in the industrial valves market are Eaton, Emerson Electric Co., General Electric Company, Flowserve Corporation, The Weir Group PLC, IMI PLC, DAHER, KITZ Corporation, METSO, and Spirax Sarco Limited. There is intense competition among the major players and they compete with each other by launching new products, entering into a partnership agreement, or acquiring another company.

Segmentation:

• By Type
• Ball Valves
• Butterfly Valves
• Check Valves
• Diaphragm Valves
• Globe Valve
• Gate Valve
• Plug Valves
• Safety Valves
• By Material
• Stainless Steel
• Cast Iron
• Cryogenic
• Alloy
• Others
• By Industry Vertical
• Oil & Gas
• Energy & Power
• Water & Wastewater Treatment
• Chemical
• Food & Beverage
• Pharmaceutical
• Agriculture
• Others
• By Geography
• North America
• U.S.
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Colombia
• Others
• Europe
• U.K
• Germany
• Italy
• France
• Netherlands
• Spain
• Others
• Middle East and Africa
• Israel
• South Africa
• Saudi Arabia
• Others
• Asia-Pacific
• China
• Japan
• Australia
• South Korea
• India
• Others

*Note: The report will be dispatched in 3 business days.

Contents

1. INTRODUCTION

1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY

2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
  4.3.1. Bargaining Power of Suppliers
  4.3.2. Bargaining Power of Buyers
  4.3.3. Threat of New Entrants
  4.3.4. Threat of Substitutes
  4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. INDUSTRIAL VALVES MARKET ANALYSIS, BY TYPE

5.1. Introduction
5.2. Ball Valves
5.3. Butterfly Valves
5.4. Check Valves
5.5. Diaphragm Valves
5.6. Globe Valve
5.7. Gate Valve
5.8. Plug Valves
5.9. Safety Valves

6. INDUSTRIAL VALVES MARKET ANALYSIS, BY MATERIAL

6.1. Introduction
6.2. Stainless Steel
6.3. Cast Iron
6.4. Cryogenic
6.5. Alloy
6.6. Others

7. INDUSTRIAL VALVES MARKET ANALYSIS, BY INDUSTRY VERTICAL

7.1. Introduction
7.2. Oil & Gas
7.3. Energy & Power
7.4. Water & Wastewater Treatment
7.5. Chemical
7.6. Food & Beverage
7.7. Pharmaceutical
7.8. Agriculture
7.9. Others

8. INDUSTRIAL VALVES MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction
8.2. North America
  8.2.1. North America Industrial Valves Market Analysis, By Type
  8.2.2. North America Industrial Valves Market Analysis, By Material
  8.2.3. North America Industrial Valves Market Analysis, By Industry Vertical
  8.2.4. By Country
    8.2.4.1. United States
    8.2.4.2. Canada
    8.2.4.3. Mexico
8.3. South America
  8.3.1. South America Industrial Valves Market Analysis, By Type
  8.3.2. South America Industrial Valves Market Analysis, By Material
  8.3.3. South America Industrial Valves Market Analysis, By Industry Vertical
  8.3.4. By Country
    8.3.4.1. Brazil
    8.3.4.2. Argentina
    8.3.4.3. Colombia
    8.3.4.4. Others
8.4. Europe
  8.4.1. Europe Industrial Valves Market Analysis, By Type
  8.4.2. Europe Industrial Valves Market Analysis, By Material
  8.4.3. Europe Industrial Valves Market Analysis, By Industry Vertical
  8.4.4. By Country
    8.4.4.1. U.K
    8.4.4.2. Germany
    8.4.4.3. Italy
    8.4.4.4. France
    8.4.4.5. Netherlands
    8.4.4.6. Spain
    8.4.4.7. Others
8.5. Middle East and Africa
  8.5.1. Middle East and Africa Industrial Valves Market Analysis, By Type
  8.5.2. Middle East and Africa Industrial Valves Market Analysis, By Material
  8.5.3. Middle East and Africa Industrial Valves Market Analysis, By Industry Vertical
  8.5.4. By Country
    8.5.4.1. Israel
    8.5.4.2. South Africa
    8.5.4.3. Saudi Arabia
    8.5.4.4. Others
8.6. Asia Pacific
  8.6.1. Asia Pacific Industrial Valves Market Analysis, By Type
  8.6.2. Asia Pacific Industrial Valves Market Analysis, By Material
  8.6.3. Asia Pacific Industrial Valves Market Analysis, By Industry Vertical
  8.6.4. By Country
    8.6.4.1. China
    8.6.4.2. Japan
    8.6.4.3. Australia
    8.6.4.4. South Korea
    8.6.4.5. India
    8.6.4.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Eaton
10.2. Emerson Electric Co.
10.3. General Electric Company
10.4. Flowserve Corporation
10.5. The Weir Group PLC
10.6. IMI PLC
10.7. DAHER
10.8. KITZ Corporation
10.9. METSO
10.10. Spirax Sarco Limited