Market Size (2017)
2017
$17.77M
Vertical: EnPBase Year: 201910 Sections
Market Size (2017)
2017
$17.77M
Projected (2024)
2024
$24.22M
CAGR (2017–2024)
4.5%
4.5%Key Players
109+
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.
The Industrial Valves Market market is projected to grow at a CAGR of 4.5% from 2017 to 2024.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansIndustrial valves are mechanical devices that control the flow and pressure of liquids, gases, and slurries within a system. Furthermore, they are known as regulators and are used in a wide variety of applications, such as water supply, mixing, steaming, and others. The three main valve functions are stopping and starting flow, throttling (control) flow, and act as a non-return check for flow (check). The major components of the valve include body, bonnet, disk, seat, trim, stem, plug, and others.
Industrial valves are used mostly in industrial operations, which include construction industry, oil & gas, chemicals, food & beverage, marine, and energy & power.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2019
Historical Period
2017 – 2019
Forecast Period
2019 – 2024
Primary Interviews
150+
Historical data (2017–2019) and forecast period (2019–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansMarket estimates by geography (2024)
InsightAsia Pacific leads with $36.64M by 2024.
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View Subscription Plans| REGION | 2017 | 2019 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $17.77M | $21.16M | $24.22M | 4.5% | 27% |
| Europe | $14.00M | $16.37M | $18.41M | 4.0% | 20% |
| Asia Pacific | $26.20M | $31.59M | $36.64M | 4.9% | 41% |
| Rest of the World | $8.52M | $9.76M | $10.83M | 3.5% | 12% |
| Total | $66.49M | $78.88M | $90.10M | 4.5% | 100% |
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View Subscription PlansTotal Market Size
$90.10M
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Ball Valve | $24.50M | 4.5% | 67% |
| Butterfly Valve | $16.54M | 4.5% | 72% |
| Check Valve | $15.54M | 4.5% | 89% |
| Globe Valve | $12.70M | 4.5% | 89% |
| Gate Valve | $10.53M | 4.5% | 67% |
| Plug Valve | $5.68M | 4.5% | 67% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Industrial Valves Market covering market dynamics, competitive landscape, and strategic outlook.
The Industrial Valves Market market is projected to reach $24.22M by 2024, growing at 4.5% CAGR. The Ball Valve segment holds the largest share.
The global oil & gas industry has been rapidly developing after the major oil price downturn of 2014. There has been a rise in the demand for oil from the emerging economies. The growing demand can be attributed to increase in the oil demand in countries, especially in Asia-Pacific and North America. Moreover, the global population is constantly increasing and there is a need for infrastructure development. Therefore, the global construction market has been showing tremendous growth in the last decade and is expected to continue growing during the forecast period. Additionally, the oil & gas industry in China has been steadily growing in the past few years. In 2018, deepwater drilling slowed down, but the on-going expansion in South China, has increased the stability of the industry. According to the China National Petroleum Corp (CNPC), major oil companies in the country account for 75% of the overall crude oil, refinery, and petrochemical production in Asia-Pacific. Similarly, the increasing midstream projects in emerging economies is leading to the increase in the adoption of industrial valves as they help obtain greater control and monitor the flow in pipelines. These are some of the factors, which have led to the increase in demand for industrial valves in the oil & gas industry. The global oil & gas production data has been plotted in the graphs below.
Additionally, due to the rise in demand for oil & gas, there has been a simultaneous rise in the construction of upstream, midstream, and downstream infrastructure in the last five years. For instance, in May 2019, the Government of Mexico announced that the construction of a new refinery will begin from June 2019 on the Tabasco coast, Mexico. Industrial valves are extensively used in refineries to control the flow of liquids and gases throughout the plant. According to BP Statistical Review of World Energy 2018, in 2017, refinery output grew by 2%, and is expected to increase further during the forecast period. Additionally, the demand for maintenance services of existing refineries is also expected to increase the demand for industrial valves during the forecast period.
Hence, the increase in the demand for industrial valves in the oil & gas industry is driving the global industrial valve market during the forecast period.
There are large number of manufacturing companies globally in various sectors including fast-moving consumer goods, automotive, garment, and electronics. Due to the large number of players, manufacturing companies compete by incorporating efficient manufacturing technologies into their processes to reduce the manufacturing costs and, consequently, the selling price of their products. Hence, manufacturing companies are integrating Internet of Things (IoT) with valves to enhance efficiency and increase productivity. IoT, when incorporated into industrial valves, provides several advantages including preventing valve leaks, troubleshooting valve misfires, real-time access, and predictive valve maintenance. Additionally, the valves integrated with IoT can be controlled using apps. For instance, Festo (US), one of the key automation solutions providers of integrated programmable and flexible processors and smart actuation technology, developed an actuation technology that features a bridge circuit with integrated sensors, which is further made up of four two-way valves. This technology can also be used to carry out complex control solutions, such as soft stop and proportional pressure regulation.
Hence, the integration of IoT in industrial valves could be a major opportunity for players in the global industrial valves market
The industrial valves market is unorganized to a certain extent. This is due to the development of innovative products, primarily because of the increasing implementation of IOT. As a result, technologies are rapidly developing in the global industrial valves market while the certification processes are comparatively slower. Thus, many end users procure innovative products with promising features, which lack standardized certifications. In many cases, the lack of standardized certification leads to valve failure and results in unnecessary operational costs and safety issues.
Thus, the lack of standardized certifications can act as a restraint for the growth of the global industrial valve market during the forecast period.
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Profiles of 109 companies operating in the Industrial Valves Market market, including revenue, employee count, and market positioning where available.
Showing 109 of 109 companies
ARFLU S.A.
Company Headquarters: Sopelana, Spain Founded: 1988 Workforce: ~200 Company Working: ARFLU S.A. is one of the global leaders in design and manufacture of industrial valves for the petrochemical, gas, water & desalination, solar, and marine applications. It offers high quality industry valves, which are integrated with advanced technology. It offers ball, globe, check, butterfly, lubricated plug, gate, and water transmission valves for use in petrochemical, energy, gas, water, solar, and naval industries. The company offers valves for a variety of application. Furthermore, it has segmented its products in five divisions, namely, petrochemical, water division, gas division, energy division, and marine services. The company has a production plant in Sopelana with offices located in Madrid (Spain), Azerbaijan, the UAE, Indonesia, and Hong Kong (China). It has its operations in the Middle East & Africa, Asia-Pacific, Europe, South America,
Neway Valve
Company Headquarters: China Founded: 1997 Workforce: ~4,762 Company Working: Neway Valve is one of leading valve manufacturers in the advanced valve manufacturing industry. It manufactures various valves such as gate, globe, check, ball, butterfly, nuclear, subsea, control, and safety valve & wellhead equipment, which are used in end-use verticals including oil & gas, offshore, chemical, power, nuclear, mining, and air separation industry. It operates in three business segments, namely, valve manufacturing business, and brass manufacturing business. Under its valve manufacturing business, The company offers a range of products and integrated solutions related to industrial valves. Furthermore, it sells materials and processed components used in consumer electronics, precision devices, automobiles, building construction, and other applications. The company has 5 subsidiaries namely, Neway Valve International, Inc. (US), Neway Valve B.V. (the Netherlands), Neway Valve s.r.l. (Italy), Neway Valve Pte. Ltd. (Singapore), and Neway Flow Control DMCC. (Dubai). It has 14 service units, across the globe.
KITZ Corporation
Company Headquarters: Chiba Prefecture, Japan Founded: 1944 Workforce: ~4,762 Company Working: KITZ Corporation is one of the leading manufacturers and seller of valves, other flow control devices, and related products in Japan and worldwide. The company offers valves, fittings, water purifiers, and industrial filters that are used for the control of fluids and brass rods are offered for machined and forged products. The company operates in three business segments, namely, valve manufacturing business, brass manufacturing business, and others. Under its valve manufacturing business, it offers a wide range of products and integrated solutions related to industrial valves. Furthermore, it sells material and processed components used in consumer electronics, precision devices, automobiles, building construction, and other applications. The company has 12 brands such as Kitz, Perrin, Toyo Valve, and ISO. It offers industrial valves to building facilities, water and sewer systems, natural gas distribution networks, production processes, oil refining, petrochemicals, and other industries through its Perrin, and Toyo Valve brands. The company has production and sales bases in 12 countries, across the globe.
AVK Holding A/S
Company Headquarters: Denmark Founded: 1941 Workforce: ~38,000 Company Working: AVK Holding A/S is a leading manufacturer with more than 100 companies in the group manufacturing valves, hydrants, and accessories for water and gas distribution, sewage treatment, and fire protection system. The company caters to the requirements of the various industrial sectors within advanced manufacturing. The company operates in four segments, namely, fluid handling, payment & merchandising technologies, aerospace & electronics, and engineered materials. Industrial valves are offered under under its fluid handling segment that also provides industrial fluid control products, including valves, pumps, lined pipe, and instrumentation products. The major brands the industrial valves are sold under, are AVID, Brownall, Center Line, Compac-Noz, Crane, Crane Fluid Systems, Crane Supply, Crane Valve Services (Nuclear), Duo-Chek, EPIC, and Flowseal.
SCHLUMBERGER LIMITED
Company Headquarters: Sugar Land, Texas, US Founded: 1926 Workforce: ~100,000 Company Working: Schlumberger Limited is one of the largest oilfield service providers. Schlumberger operates in four segments, namely reservoir characterization group, drilling group, production group, and Cameron. The drilling segment of the company deals with technologies involved in the drilling and positioning of oil and gas wells. Mi SWACO, a subsidiary of Schlumberger, provides engineered MPD solutions to the company. Schlumberger offers a wide range of drilling services including directional drilling, drilling optimization, rhino integrated borewell enlargement system, MPD, coiled tubing directional drilling, casing-drilling, liner-drilling and seismic-guided drilling. The bits and drilling tools segment of the company designs, manufactures and markets, fixed cutter and roller cone drill bits for the company. The drilling tools manufactured by the company include equipment for bottom hole assembly, impact tools, and borehole enlargement technologies. Drilling and Measurements provides logging services for drilling and geological surveillance, logging-while-driving and directional drilling, for wells of all types. Land rigs provide rigs for onshore drilling and related support services. Integrated Drilling Services (IDS) supplies all the services necessary to make changes to the well. All aspects of drilling rig management, procurement, logistics, engineering, well drilling, well planning and contracting of third parties are covered by IDS. Cameron International, Smith International (North Sea), Schlumberger oilfield Holdings Limited, and Schlumberger B.V., Netherlands are some of its subsidiaries. It operates in over 140 nations, such as the US, France, India, and the UK. Some of its major competitors are Halliburton (US), General Electric (US), Newpark Resources Inc. (US), and National Oilwell Varco Inc. (US).
CRANE CO.
Crane Co. is one of the leaders in manufacturing highly engineered industrial products. It serves a wide range of end-use industries, including hydrocarbon processing, petrochemical, chemical, power generation, unattended payment, automated merchandising, aerospace, electronics, transportation, and aerospace. The company operates through four segments, namely, fluid handling, payment & merchandising technologies, aerospace, and electronics & engineered materials. It offers control valves under its fluid handling segment. Some of the other products under this segment are process valves & related products, commercial valves, industrial fluid control products, including valves, pumps, lined pipe, and instrumentation. The company supplies its safety valves through its subsidiary NABIC, which it acquired in 2008. It offers its fluid handling products under the brand names of Crane, Saunders, Xomox, Krombach, REVO, Flowseal, Centerline, Resistoflex, Duochek, Barksdale, Jenkins, Pacific, DEPA, ELRO, Westlock, and WTA. The company supplies valves for applications in chemical, general industrial, non-residential, construction, oil & gas, and power generation industries. It has manufacturing and sales & service centers all over the world, including the Americas, Europe, the Middle East, and Asia-Pacific.
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Industrial Valves Market