Product Code: RP-ID-10351984 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Industrial Automation & Equipment |
Report ID: 10351984
Market Overview:
Global Industrial Valves Market Analysis & Outlook 2030
In 2021, the global industrial valve market is estimated at approximately USD 65 billion and is anticipated to expand at a CAGR of 5% over the period 2022-2030. Increased production volumes and improved automation at the expense of existing plant expansions are expected to stimulate the market during the forecast period. Growing demand for flow control equipment is expected to have a positive impact on the market growth. Smart valves with intelligent control systems are expected to gain importance and accelerate development. Increase the use of smart sensors and technologies in industrial valves to monitor upstream and downstream conditions, process variables such as temperature and flow. This is expected to drive demand over the next seven years.
The development of smart valves with integrated processor and network capacity for offshore oil and gas is expected to improve the reliability and responsiveness of systems and have a significant impact. Exploration costs in the oil and gas industry are increasing due to innovations that allow access to deep-sea resources or anomalous reservoirs such as high-temperature, high-pressure and low-pressure reservoirs and non-traditional or empty reservoirs. The industrial valve market is expected to grow significantly due to the growth of non-traditional AC applications for the petroleum and downstream industries.
Advances in automation in the manufacturing industry have increased the demand for automated control valves, and one of the obstacles to growth is the use of coal and the closure of existing coal-fired power plants. Fluctuations in commodity prices can reduce the use and acceptance of technology. In addition, strict government regulations on existing power plants can hinder development in the sector.
Product overview:
The industry can be divided into shell, butterfly, valve, shell and valve for each product. In 2020, ball valve sales accounted for more than 15%. These valves are mainly used for flow control and sealing. The technology supports marine communication systems, chlorine producers and fire protection services, and butterfly valves have been in high demand in recent years due to their advanced use in the oil and gas industry. The increase in exploration and sorting activities is expected to generate fuel demand through significant investments in pipelines and refineries in the oil and gas industry. 7 years. Because these valves are unidirectional, they prevent backflow of the process into the system, prevent equipment damage and disrupt the process. Growing demand for refinery automation and fluid flow control is positively affecting demand at the industrial level.
Practical Insights:
Applications investigated in this study include oil and gas, energy, pharmaceuticals, municipal wastewater, chemicals, food and beverage. The Oil & Gas segment accounted for more than 20% of total sales in 2020. Growing demand for deeper oil wells, longer pipelines and lower production costs, along with technological advances in processing, production and transportation, are contributing to the development of industrial valves. market. Additionally, the need for centralized monitoring and control of the expansion and production of pipeline equipment and the demand for smart valves are driving the industry, with significant growth in water and sanitation applications, with an overall annual growth rate of around 5%. Population growth and urbanization should determine the forecast period. Growing demand for pumps and equipment to separate and control wastewater streams and municipal water treatment is also expected to play an important role in increasing the impact of the industry.
Regional Outlook:
The Asia Pacific market exceeded USD 30 billion in 2020. An increase in construction activity and chemical consumption is expected to have a positive impact on manufacturing in the region. In addition, the construction of new nuclear power plants and expansion of oil refining capacity are expected to boost demand. For example, China is investing in new coal-fired power plants and washing machines, and the North American market is expected to provide an excellent foothold for potential growth. The increased production of oil sands and shale gas has great development potential in the region. Replacing inefficient outdated valves with more efficient gas transport valves in mid-tier infrastructure is expected to increase overall valve demand.
The US market has revolutionized shale oil and gas production, and that development has led to significant investments in exploration and production in North America. As the trend of generating electricity from renewable energy increases, the market potential is also expected to increase. Demand in the European market is expected to exceed USD 15 billion in 2020 and grow more slowly than other regions. However, the development of offshore oil fields and the increasing demand for oil and gas in central Russia is expected to increase the demand for valves throughout the region during the forecast period.
Industry Value Market Snapshot:
Key players include Flowserve Corporation, Kitz Corp., Curtiss-Wright Corp., Emerson Electric, KSB AG, and Pentairplc. Valve manufacturers are expected to increase productivity by developing new products and replacing them with more efficient products. International ink for PLC and GWC valves. and Watts Water Technologies, Inc.
Leading Company and Market Information:
Ten Investment Funds Ltd. holds a 74% stake in Habonim Industrial Valves & Actuators Limited. gmbeha. , a company based in northern Israel, serving the chemical, oil and gas industries. Habonim's sales are primarily focused on the international coast, with annual sales of $28 million to $42.5 million. IVS aims to grow through these developments. In August 2019, Bonomi Group acquired FRA.BO.SpA, located in Brescia, Italy. FRA.BO is a leading manufacturer of brass, copper, stainless steel and bronze fittings for sanitary applications. The acquisition is expected to make Bonomi more competitive in the global piping and flow control market.
Related Reports
Proof of Quality & Reliability
