Industrial valve market size to soar to USD 123.05 billion by 2034: Future Market Insights, Inc.

The automation sector in the United States is witnessing a surge in demand for automatic industrial valves, driving significant market growth. According to forecasts, the US industrial automatic valves market is poised to exhibit a steady compound annual growth rate (CAGR) of 3.40% from 2024 to 2034.

NEWARK, Del., March 20, 2024 (Globe Newswire) — Significant changes are expected in the industrial valve market, with market value expected to 81.55 billion USD The major factor driving market expansion is the increasing use of industrial valves to regulate the flow of materials in various fields.

According to Future Market Insights, the industrial valves market is expected to grow at a modest CAGR. 4.2% Reached between 2024 and 2034 123.05 billion USD. The industrial valve industry is experiencing growth due to the following factors:

• Increasing demand from healthcare and pharmaceutical industries

• Growth of smart cities

• Developing a connected network

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These valves are used to regulate and control fluids in a variety of industries such as water and wastewater, petroleum and power, food and beverage, and chemicals. Mainly manufactured using high-performance metal alloys such as carbon steel, cast iron, and stainless steel.

The global expansion of industrial infrastructure is creating significant opportunities for valve manufacturers. As demand for industrial valves increases, manufacturers are focusing on implementing smart technology into valves for automation and remote monitoring. Smart industrial valves are equipped with sensors and other advanced technologies that allow them to communicate with other systems and devices within the industrial process.

Smart valve technology enables real-time monitoring and control to enhance industrial processes. These reduce downtime and maintenance costs, increasing productivity and profitability. It also improves safety, as potential hazards and malfunctions can be detected early, accidents can be prevented, and damage to equipment and personnel can be minimized. Due to increasing needs through various initiatives, smart technology in valves provides an advantageous opportunity for industrial valve manufacturers to strengthen their competitiveness and market position.

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Increasing infrastructure-related developments, private participation in infrastructure, and improvements in industrial equipment performance and lubricant life are driving the market. IoT and Industry 4.0 in industrial valves, expansion of refineries and petrochemical plants are contributing to the market growth.

Key points from the industrial valve market

• The US industrial valve industry is projected to witness a CAGR of 3.40% by 2034.

• The German industrial valve market is expected to exhibit a CAGR of 3.60% by 2034.

• The Korean industrial valve industry is expected to grow at a CAGR of 4.20% by 2034.

• India’s industrial valves sector is expected to witness a CAGR of 4.70% by 2034.

• China’s industrial valve market is expected to grow at a CAGR of 5.10% by 2034.

“The industrial valve industry is growing due to increasing demand from the healthcare and pharmaceutical industries, smart cities, and connected networks. Regulate and control fluids in industry. Infrastructure developments, improved equipment performance, IoT, and Industry 4.0 will drive market growth. 3D printing and replacement of old valves are also expected to further expand the market. It will be done.” Sah Nikhil Kaitwade (Vice President, Future Market Insights, Inc.).

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Competitive environment of industrial valve market
The industrial valve market is characterized by intense competition between leading companies who are constantly striving to upgrade their product portfolios and maintain their dominance. To achieve this, companies employ a variety of strategic means, both organic and inorganic, such as mergers, alliances, new product launches, collaborations, and acquisitions. These strategies help companies leverage their strengths in technology, innovation, and customer service to strengthen their market position, expand their product offerings, and strengthen their competitiveness.
Market participants are also focusing on streamlining supply chains, enhancing production procedures, and providing superior after-sales service to customers. The industrial valve market as a whole is dynamic and constantly changing, with competitors striving to increase their market share. The company achieves this by providing superior products and services that meet the diverse demands of its customers in different sectors and applications.

Recent trends in the industrial valve market

• Tecnik Fluid Controls and US-based ITT Industries Inc. formed a joint venture in November 2023 to manufacture industrial valves for the Indian pharmaceutical market.

• Theis Precision Steel India Pvt. Ltd. is an Indian cold rolling company specializing in high and medium carbon steels. In July 2023, BDK Valve and Gurukulpa Group purchased his 100% controlling stake.

Key players in the industrial valve market

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Major segments

By valve type:

• Gate

• glove

• ball

  • trunnion

  • floating

  • screw-in series

• butterfly

• plug

  • Lined

  • Lubricated

  • No lubrication

• check

  • dual plate

  • piston lift

  • spring loaded disc

  • swing check

  • Tilt check

  • Y pattern

  • T pattern

• safe and secure

  • spring type

  • pilot operated

• Other customized

By valve material:

• cast steel

• Carbon steel

• stainless steel

• bronze

• others

By function:

By end-use industry:

By region:

• North America

• latin america

• Europe

• east asia

• south asia

• Oceania

• middle east and africa

author:

Nikhil Kaitwade (Vice President, Future Market Insights, Inc.) has over 10 years of experience in market research and business consulting. He has successfully completed over 1,500 of his client assignments, primarily in the automotive, chemical, industrial equipment, oil and gas, and service industries.

His core competencies center around developing research methodologies, proprietary analytical frameworks, creating statistical data models for price analysis, competitive mapping, and market feasibility analysis. His expertise also extends widely beyond analysis, advising clients on identifying growth potential, investment/sale decisions, and market entry decisions in established and niche market segments. Masu.

Nikhil holds an MBA degree in Marketing and IT and a postgraduate degree in Mechanical Engineering. Nikhil has authored several publications and has been cited in journals such as EMS Now, EPR Magazine, and EE Times.

Explore Future Market Insights, Inc.’s extensive coverage of the Industrial Automation sector:

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• Moreover, the global safety valve segment is anticipated to witness significant growth and is expected to reach sales of USD 4.4 billion in 2023. During the forecast period, the demand for safety valve market is expected to surge at a staggering CAGR of 8.6% and reach approximately $3 billion in 2023. 10 billion USD by 2033.

• The global demand for the instrumentation valves and fittings market is expected to reach USD 2.7 billion by 2023, with a significant growth rate of approximately 6.7% from 2023 to 2033. Sales in this sector are expected to reach approximately USD 5.1 billion by 2033. , total financial potential worth USD 2.4 billion will be unlocked during the forecast period.

• Furthermore, the thermostatic radiator valve market is anticipated to witness significant growth, with revenue projected to surge to approximately USD 413.1 million by 2033, reflecting a CAGR of 4.3% during the forecast period.

• Finally, the expansion valve market is projected to witness robust growth, with sales expected to reach USD 17.4 billion by 2033, from USD 11.5 billion in 2023. This growth trajectory is primarily driven by the increasing demand for advanced air conditioning systems across various sectors. From 2023 to 2033 his CAGR will contribute his 4.2%.

• Future Market Insights predicts that the valve remote control systems market is on a strong growth trajectory, with a compound annual growth rate (CAGR) of 6.7% from 2023 to 2033. Sales are expected to exceed USD 7.9 billion in 2023 and will further develop the market size, which is reported to be USD 7.4 billion in 2022 and reach USD 15.1 billion by the end of 2033. It is expected.

• The hydrogen detection market in 2024 is estimated to be USD 270.3 million. The forecast hints at significant growth potential, showing a compound annual growth rate (CAGR) of 11.50% during the forecast period. The market is expected to grow to US$800 million by 2034, reflecting a significant increase in demand and adoption.

• The warehouse robot market is experiencing rapid growth and its valuation is expected to expand from USD 1,540.57 million in 2024 to USD 5,609.75 million in 2034, at a robust CAGR of 13.8%.

• The global automation COE market is experiencing remarkable growth and its value is estimated to reach USD 560.8 million in 2024. The market is expected to grow at a robust CAGR of 41.4% and reach a staggering value of USD 13.3 billion by 2034.

• Future Market Insights forecasts significant growth in the global underground mining automation market, estimated at USD 1,418.6 million in 2022 and expected to grow at a CAGR of 5.9% from 2022 to 2032. Masu.

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