Industrial Valves Market

The demand for industrial valve is growing rapidly owing to various factors, including the rising investments in oil & gas industry across the globe, and increasing investments in water & wastewater industry.

The global industrial valve market is projected to grow at 4.48% CAGR during the forecast period, 2018–2024. In 2018, the global industrial valve market was led by Asia-Pacific with a 39.5% share, followed by North America and Europe with shares of 26.8% and 21.0%, respectively.

The industrial valve market has been segmented based on type, material, size, end-use, and region. On the basis of type, the market has been segmented into ball valve, butterfly valve, check valve, pinch valve, plug valve, globe valve, and gate valve. The ball valve is expected to grow at the faster rate during the forecast period. In 2018, the ball valve segment held a 27.0% share of the global industrial valve market. On the basis of material, the market has been segmented into, stainless steel, cast iron, alloy based, cryogenic, and others. The stainless steel is expected to grow at the fastest rate during the forecast period. In 2018, the stainless steel segment held a 31.46% share of the global industrial valve market. On the basis of size, the market has been segmented into, less than 1”, 1" to 25", 25" to 50", and 50" and above. The 1" to 25", is expected to grow at the fastest rate during the forecast period. In 2018, the 1" to 25" segment held a 30.9% share of the global industrial valve market.

On the basis of end-use, the market has been segmented into, oil & gas, energy & power, chemicals, food & beverages, water & wastewater treatment, pulp & paper, construction, and others. In 2018, the end-use segments held a 23.8% share of the global industrial valve market.