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Industrial Valves Market by Type (Ball, Butterfly, Globe, Gate, Diaphragm, Safety, Check, Plug), Material (Steel, Cast Iron, Alloy Based, Cryogenic, Plastic, Bronze, Brass), Component (Actuator, Positioner), Function - Global Forecast to 2028

Market Report I 2023-03-02 I 298 Pages I MarketsandMarkets

The industrial valves market size is expected to grow from USD 80.4 billion in 2023 to USD 99.8 billion by 2028; it is expected to grow at a CAGR of 4.4% from 2023 to 2028. The key factors driving the growth of the industrial valves market are the growing adoption of IIoT-integrated valves, the rapidly shifting focus of process industries towards adoption of automation solutions, the global need for establishment of new power plants and revamping of existing ones, the changing focus of valve manufacturers towards better maintenance and aftermarket services, and the increasing adoption of smart valves as replacement for outdated valves.

"Safety valves are expected to register the highest CAGR during the forecast period"
Industries such as oil & gas, energy & power, chemical & petrochemical, pharmaceutical, metal & mining, and water & wastewater treatment require highly reliable safety valves. Safety valves protect the pipeline against implosion due to the vacuum caused by cold rinsing after hot cleaning or blocking the gas supply during emptying. The increasing use of safety valves in critical processes in oil & gas, chemical, energy & power industries to release excess pressure and protect equipment and people from harm would drive the growth of the industrial safety valves market during the forecast period.

"Actuators are expected to register the highest CAGR during the forecast period and valve body are expected to register the second highest CAGR"
Pneumatic actuators, the most commonly used actuators due to their reliability and simple design, are typically used in applications involving extreme temperatures. Pneumatically operated piston actuators work faster than electric and hydraulic actuators. These actuators are advantageous when no air supply source is available, and low ambient temperatures could freeze the condensed water in pneumatic supply lines. In the case of heavy-duty applications, hydraulic actuators are preferred over pneumatic and electric actuators. The valve body is the main element of a valve assembly, as it holds all the internal parts together. The body is the largest component. Media flows through the body between the ports, and all other components are connected to the body.

"Control segment is expected to register the higher CAGR during the forecast period"
A control valve is an important element in process industries as it automatically regulates important process variables, including temperature, level, direction, pressure, and flow rate of gas, steam, water, and chemical compounds within a required operating range. Control valves are designed to withstand harsh conditions and ensure the safety and efficiency of multiple production processes in an industrial plant. Due to these benefits, these valves are used in oil & gas, energy & power, petrochemical, and chemical industries.

"Plastic valves are expected to register the highest CAGR during the forecast period and cryogenic valves are expected to register the second highest CAGR"
Owing to their high durability and corrosion resistance capabilities, plastic valves are preferred in applications that require regulating and monitoring of flow of corrosive fluids. In addition, due to their high impermeability feature, they offer long service life. Also, plastic valves offer very low-pressure drops, making them ideal for various industries such as food & beverage, chemical, and paper & pulp. Cryogenic valves are used in the oil & gas industry at cryogenic temperatures starting from -238F. Production, transport, and storage of liquefied gases such as oxygen, nitrogen, argon, natural gas, hydrogen, or helium (down to -425F/-253.9C) present several specific technical requirements, such as service conditions; material, pressure, and temperature ratings; and other technical or environmental requirements. Such requirements generate the need for cryogenic materials to handle cryogenic temperatures safely, which are most popularly used by companies that work with liquefied natural gas (LNG) or compressed natural gas (CNG).

"Valves in the size range of >50" are expected to register the highest CAGR during the forecast period"
The rising demand for >50" valves in high-pressure and high-temperature applications in the chemical, energy & power, and oil & gas industries is likely to propel market growth. These valves have longer lead times, as they feature custom-designed class 1,500 mm and 2,500 mm butt-welding end valves. L&T (India) offers gate, Y-globe, and swing check valves, which feature a pressure seal bonnet design for high-pressure services in these size ranges.

"Paper & pulp industry is expected to register the highest CAGR during the forecast period"
In paper & pulp industry, plug valves, V-port ball valves, knife gate valves, high-performance butterfly valves, and rotary control valves are used in applications such as basis weight control, cleaner and pump isolation, flow-level control, vacuum control, and steam and condensate flow control. For the pulping process, V-port ball valves and eccentric plug valves, among others, are used for steam and chemical handling applications such as steam impregnation, steam venting, and flow and pressure control. Valves with hardened trim are well-suited for steam and chemical handling applications. Therefore, industrial valves play a vital role across several applications in the paper & pulp industry, which in turn propels their increasing adoption in the industry.

"North America is expected to register the highest CAGR during forecast period"
The growth of the industrial valves market in the US is mainly driven by the large industrial base, particularly the oil & gas and energy & power industries. Discovery of shale oil in the country and recent uptrends in the oil & gas industry are the major reasons for the increasing investments in the US oil & gas industry. The US rig count is set to increase over the next three years, which is expected to drive the demand for industrial valves in the oil & gas industry. In the US, the water & wastewater treatment industry is facing the challenge of aging infrastructure However, fresh investments in the industry for modernizing the existing facilities and services are expected to contribute to the rise in the demand for industrial valves in the US. In Canada, investments in natural gas projects have resulted in the expansion of the pipeline network for gas transportation. Hence, the oil & gas industry in Canada is likely to witness a huge demand for industrial valves.

The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
- By Designation: C-Level Executives = 40%, Directors = 35%, and Others= 25%
- By Region: North America = 30%, Europe = 25%, Asia Pacific = 35%, and RoW = 10%

Major players operating in the industrial valves market include Emerson (US), Flowserve Corporation (US), Schlumberger Limited (US), Crane Co. (Sweden), Neles (Finland), KITZ Corporation (Japan), IMI PLC (UK), KSB SE & Co. KGaA (Germany), Bray International (US), and Spirax-Sarco Engineering PLC (UK), among others.

Research Coverage:
The research report on the global industrial valves market covers the market based on type, component, function, material, size, end-user industry, and region. Based on type, the industrial valves market is segregated into ball, butterfly, check, gate, globe, plug, diaphragm, and safety valves. Based on component, the industrial valves market is segmented into actuators, valve body, and other components (positioners and I/P converters). Based on function, the industrial valves market is segmented into on/off and control. Based on material, the industrial valves market is segmented into steel, cast iron, alloy-based, cryogenic, plastic, and other materials (bronze and brass). Based on size, the industrial valves market is segmented into <1", 1" to 6". 7" to 25". 26" to 50", and >50". Based on end-user industry, the industrial valves market is segmented into segmented into oil & gas, water & wastewater treatment, energy & power, food & beverage, metal & mining, chemical, pharmaceutical, building & construction, pulp & paper, agriculture, semiconductor, and other end-user indsutries (textile and glass). The report covers four major regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

Key Benefits of Buying the Report:
This report segments the industrial valves market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different types, components, functions, materials, sizes, end-user industries, and regions.
The report helps stakeholders understand the market's pulse and expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.

1 INTRODUCTION 36
1.1 STUDY OBJECTIVES 36
1.2 MARKET DEFINITION 36
1.3 INCLUSIONS AND EXCLUSIONS 37
TABLE 1 INDUSTRIAL VALVES MARKET: INCLUSIONS AND EXCLUSIONS 37
1.4 STUDY SCOPE 38
1.4.1 MARKETS COVERED 38
FIGURE 1 INDUSTRIAL VALVES MARKET: SEGMENTATION 38
1.4.2 GEOGRAPHIC SCOPE 39
FIGURE 2 INDUSTRIAL VALVES MARKET: GEOGRAPHIC SEGMENTATION 39
1.4.3 YEARS CONSIDERED 39
1.5 CURRENCY CONSIDERED 40
1.6 LIMITATIONS 40
1.7 STAKEHOLDERS 40
1.8 SUMMARY OF CHANGES 41
2 RESEARCH METHODOLOGY 42
2.1 RESEARCH DATA 42
FIGURE 3 INDUSTRIAL VALVES MARKET: RESEARCH DESIGN 43
2.1.1 SECONDARY AND PRIMARY RESEARCH 45
2.1.2 SECONDARY DATA 45
2.1.2.1 Major secondary sources 45
2.1.2.2 Key data from secondary sources 46
2.1.3 PRIMARY DATA 46
2.1.3.1 Primary interviews with experts 46
2.1.3.2 Key data from primary sources 47
2.1.3.3 Key industry insights 47
2.1.3.4 Breakdown of primaries 48
2.2 MARKET SIZE ESTIMATION 48
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SALES OF INDUSTRIAL VALVES (2/2) 49
2.2.1 BOTTOM-UP APPROACH 50
2.2.1.1 Approach to arrive at market size through bottom-up analysis (demand side) 50
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 50
2.2.2 TOP-DOWN APPROACH 51
2.2.2.1 Approach to arrive at market size through top-down analysis (supply side) 51
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 51
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2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 52
FIGURE 7 DATA TRIANGULATION 52
2.4 RESEARCH ASSUMPTIONS 53
FIGURE 8 ASSUMPTIONS FOR RESEARCH STUDY 53
2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT 53
2.6 RESEARCH LIMITATIONS AND RISK ASSESSMENT 54
TABLE 2 LIMITATIONS AND ASSOCIATED RISKS 54
3 EXECUTIVE SUMMARY 55
FIGURE 9 CONTROL VALVES TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD 56
FIGURE 10 STEEL SEGMENT TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, THROUGHOUT FORECAST PERIOD 56
FIGURE 11 SAFETY VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 57
FIGURE 12 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET, BY COMPONENT, IN 2028 57
FIGURE 13 1" TO 6" SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY SIZE, IN 2028 58
FIGURE 14 ENERGY & POWER INDUSTRY TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 59
FIGURE 15 ASIA PACIFIC HELD LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2022 60
3.1 RECESSION IMPACT AT GLOBAL LEVEL 61
FIGURE 16 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES TILL 2023 61
FIGURE 17 IMPACT OF UPCOMING RECESSION ON GLOBAL INDUSTRIAL VALVES MARKET 61
4 PREMIUM INSIGHTS 63
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRIAL VALVES MARKET 63
FIGURE 18 INCREASED DEMAND FOR INDUSTRIAL VALVES FROM HEALTHCARE AND PHARMACEUTICAL INDUSTRIES TO PROVIDE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL VALVES MARKET 63
4.2 INDUSTRIAL VALVES MARKET, BY FUNCTION 63
FIGURE 19 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THAN CONTROL VALVES IN 2023 63
4.3 INDUSTRIAL VALVES MARKET, BY MATERIAL 64
FIGURE 20 PLASTIC VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 64
4.4 INDUSTRIAL VALVES MARKET, BY TYPE 64
FIGURE 21 GLOBE VALVES TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 64
4.5 INDUSTRIAL VALVES MARKET, BY COMPONENT 65
FIGURE 22 ACTUATORS TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 65
4.6 INDUSTRIAL VALVES MARKET, BY SIZE 65
FIGURE 23 >50" INDUSTRIAL VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 65
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4.7 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 66
FIGURE 24 PAPER & PULP INDUSTRY TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 66
4.8 INDUSTRIAL VALVES MARKET, BY COUNTRY 67
FIGURE 25 US TO ACCOUNT FOR LARGEST SHARE OF GLOBAL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 67
5 MARKET OVERVIEW 68
5.1 INTRODUCTION 68
5.2 MARKET DYNAMICS 68
FIGURE 26 INDUSTRIAL VALVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 68
5.2.1 DRIVERS 69
5.2.1.1 Rising demand for valves from healthcare and pharmaceutical industries 69
5.2.1.2 Increasing need to establish new power plants and revamp existing ones 69
5.2.1.3 Rapid deployment of connected networks to monitor valve conditions and predict system failure 70
5.2.1.4 Shifting focus of process industries toward adoption of automation solutions 70
5.2.1.5 Establishment of smart cities globally 71
FIGURE 27 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF DRIVERS 72
5.2.2 RESTRAINTS 72
5.2.2.1 High capital investment and low profit margin due to varying valve standards across regions 72
5.2.2.2 Customer dissatisfaction owing to higher lead time and late order delivery 73
FIGURE 28 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF RESTRAINTS 73
5.2.3 OPPORTUNITIES 73
5.2.3.1 Integration of industrial valves with IIoT and Industry 4.0 73
5.2.3.2 Rising demand for AI-integrated valves for intelligent water supply 74
5.2.3.3 Use of 3D printing technique to manufacture industrial valves 75
5.2.3.4 Thriving petrochemical industry with growing demand for fuel 75
5.2.3.5 Shifting focus of valve manufacturers toward better maintenance and aftermarket services 76
5.2.3.6 Increasing adoption of smart valves as replacement for outdated valves 76
FIGURE 29 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 77
5.2.4 CHALLENGES 78
5.2.4.1 Focus of valve manufacturers on acquisitions affecting profit margins and cash flow 78
5.2.4.2 Fierce competition owing to reduced product differentiation 78
5.2.4.3 Unplanned downtime due to malfunctioning and failure of valves 78
5.2.4.4 High cost of valve manufacturing 79
FIGURE 30 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF CHALLENGES 79
5.3 VALUE CHAIN ANALYSIS 79
FIGURE 31 INDUSTRIAL VALVES MARKET: VALUE CHAIN ANALYSIS 80
5.4 ECOSYSTEM MAPPING 81
FIGURE 32 INDUSTRIAL VALVES MARKET: ECOSYSTEM ANALYSIS 81
TABLE 3 COMPANIES AND THEIR ROLE IN INDUSTRIAL VALVES ECOSYSTEM 81
5.5 PRICING ANALYSIS 83
5.5.1 COMPANY-WISE AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY TYPE 83
TABLE 4 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY TOP COMPANIES, 2023 83
FIGURE 33 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY KEY PLAYERS, BY TYPE (USD) 84
TABLE 5 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY THREE GLOBAL MARKET PLAYERS, BY TYPE 84
TABLE 6 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY REGION 84
FIGURE 34 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, 2019-2028 85
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85
FIGURE 35 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85
5.7 TECHNOLOGY ANALYSIS 86
5.7.1 DIGITALIZATION AND ARTIFICIAL INTELLIGENCE 86
5.7.2 INDUSTRIAL INTERNET OF THINGS (IIOT) 86
5.7.3 VALVE CONDITION MONITORING 87
5.8 PORTER'S FIVE FORCES ANALYSIS 88
FIGURE 36 INDUSTRIAL VALVES MARKET: PORTER'S FIVE FORCES ANALYSIS 88
5.8.1 BARGAINING POWER OF SUPPLIERS 88
5.8.2 BARGAINING POWER OF BUYERS 88
5.8.3 THREAT OF NEW ENTRANTS 89
5.8.4 THREAT OF SUBSTITUTES 89
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 89
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 90
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 90
FIGURE 37 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS 90
TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS (%) 90
5.9.2 BUYING CRITERIA 91
FIGURE 38 KEY BUYING CRITERIA OF TOP 3 END-USER INDUSTRIES 91
TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES 91
5.10 CASE STUDY ANALYSIS 91
TABLE 9 SEVERSTAL ADOPTED EMERSON'S FISHER CONTROL-DISK BUTTERFLY VALVES TO REDUCE WATER USAGE 91
TABLE 10 KRUGER, INC. NEWSPRINT MILL DEPLOYED FISHER CONTROL-DISK'S VALVES TO REDUCE FLOW VARIABILITY AND SAVE MAINTENANCE COSTS 92
TABLE 11 BRAY INTERNATIONAL'S KNIFE GATE VALVE OFFERED INCREASED UPTIME OF HYDROCLONE APPLICATION AND REDUCED PRODUCTION LOSS 92
TABLE 12 STADTENTWASSERUNG HANNOVER SIGNED CONTRACT WITH KSB SE & CO. KGAA FOR COMPLETE REPAIR AND REFURBISHMENT OF ITS WASTEWATER PUMPING STATION 92
5.11 TRADE ANALYSIS 93
FIGURE 39 IMPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017-2021 (USD MILLION) 93
FIGURE 40 EXPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017-2021 (USD MILLION) 94
5.12 PATENT ANALYSIS 94
FIGURE 41 NUMBER OF PATENTS GRANTED EVERY YEAR FROM 2013 TO 2022 94
FIGURE 42 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 95
TABLE 13 TOP 20 PATENT OWNERS IN LAST 10 YEARS 95
5.12.1 LIST OF MAJOR PATENTS 96
TABLE 14 KEY PATENTS PERTAINING TO INDUSTRIAL VALVES 96
5.13 KEY CONFERENCES AND EVENTS, 2023-2024 97
TABLE 15 INDUSTRIAL VALVES MARKET: REGION-WISE CONFERENCES AND EVENTS 97
5.14 REGULATIONS AND STANDARDS 97
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97
TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97
TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98
TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98
TABLE 19 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 99
5.14.2 STANDARDS 99
TABLE 20 STANDARDS FOLLOWED BY MANUFACTURERS OF INDUSTRIAL VALVES 99
6 INDUSTRIAL VALVES MARKET, BY TYPE 101
6.1 INTRODUCTION 102
FIGURE 43 INDUSTRIAL VALVES MARKET, BY VALVE TYPE 102
FIGURE 44 GLOBE VALVES TO LEAD MARKET THROUGHOUT FORECAST PERIOD 102
TABLE 21 INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 103
TABLE 22 INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 103
6.2 BALL VALVES 104
6.2.1 TIGHT SEALING AND LOW OPERATING TORQUE TO DRIVE DEMAND FOR BALL VALVES 104
TABLE 23 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 105
TABLE 24 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 105
6.2.1.1 Trunnion-mounted ball valves 106
6.2.1.1.1 Suitable for pipelines requiring high pressure 106
6.2.1.2 Floating ball valves 106
6.2.1.2.1 Bi-directional sealing enables free movement of ball to halt media flowing in any direction 106
6.2.1.3 Rising stem ball valves 106
6.2.1.3.1 Designed for quick shutoff applications in chemical plants 106
6.3 BUTTERFLY VALVES 107
6.3.1 LOW PRESSURE DROP AND COST-EFFECTIVENESS TO BOOST DEMAND FOR BUTTERFLY VALVES 107
TABLE 25 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 107
TABLE 26 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 108
6.3.1.1 Zero-offset butterfly valves 108
6.3.1.1.1 Suitable for basic and specialty liquid and gas applications up to 200 PSI and 400F 108
6.3.1.2 Double-offset butterfly valves 109
6.3.1.2.1 Widely adopted by energy & power, pulp & paper, HVAC, chemical, oil & gas, and water & wastewater treatment industries 109
6.3.1.3 Triple-offset butterfly valves 109
6.3.1.3.1 Function effectively in tight shutoff applications 109
6.4 CHECK VALVES 109
6.4.1 ABILITY TO PREVENT REVERSAL PIPELINE FLOW TO STIMULATE DEMAND FOR CHECK VALVES 109
TABLE 27 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 110
TABLE 28 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 111
6.5 DIAPHRAGM VALVES 111
6.5.1 ABILITY TO HANDLE CORROSIVE FLUIDS, FIBROUS SLURRIES, AND RADIOACTIVE FLUIDS TO INCREASE REQUIREMENT FOR DIAPHRAGM VALVES 111
TABLE 29 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 112
TABLE 30 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 112
6.6 GATE VALVES 113
6.6.1 EASY FLOW OF MEDIA DUE TO UNOBSTRUCTED PASSAGEWAY TO BOOST DEMAND FOR GATE VALVES IN OIL & GAS AND PETROCHEMICAL APPLICATIONS 113
TABLE 31 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 114
TABLE 32 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 114
6.6.1.1 Standard plate gate valves 115
6.6.1.1.1 Appropriate for transporting dry solids, granules, and powders 115
6.6.1.2 Wedge-type gate valves 115
6.6.1.2.1 Designed to handle flow of low-viscosity fluids 115
6.6.1.3 Knife gate valves 115
6.6.1.3.1 Preferred to handle slurries, as well as viscous, corrosive, and abrasive media 115
6.7 GLOBE VALVES 116
6.7.1 DEPLOYMENT IN HIGH-PRESSURE SYSTEMS TO CONTRIBUTE TO SEGMENTAL GROWTH 116
TABLE 33 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 116
TABLE 34 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 117
6.8 PLUG VALVES 117
6.8.1 EASY SEALING AND ISOLATION ABILITIES TO BOOST ADOPTION OF PLUG VALVES IN WASTEWATER TREATMENT PLANTS 117
TABLE 35 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 118
TABLE 36 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 118
6.9 SAFETY VALVES 119
6.9.1 RISING DEMAND FROM OIL & GAS, ENERGY & POWER, AND CHEMICAL INDUSTRIES TO PROPEL SEGMENTAL GROWTH 119
TABLE 37 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 119
TABLE 38 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 120
7 INDUSTRIAL VALVES MARKET, BY COMPONENT 121
7.1 INTRODUCTION 122
FIGURE 45 INDUSTRIAL VALVES MARKET, BY COMPONENT 122
FIGURE 46 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 122
TABLE 39 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2019-2022 (USD MILLION) 122
TABLE 40 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2023-2028 (USD MILLION) 123
7.2 ACTUATORS 123
7.2.1 FOCUS ON REDUCING MAINTENANCE COST, INCREASING UPTIME, AND ENHANCING PLANT SAFETY TO DRIVE DEMAND FOR ACTUATORS 123
7.2.2 PNEUMATIC ACTUATORS 123
7.2.2.1 Diaphragm actuators 123
7.2.2.1.1 Suitable for control valves used in oil & gas industry 123
7.2.2.2 Piston actuators 123
7.2.2.2.1 Designed for butterfly valves used in food, chemical, and pharmaceutical industries 123
7.2.3 ELECTRIC ACTUATORS 124
7.2.3.1 Wide use in water & wastewater treatment and chemical plants to boost segmental growth 124
7.2.4 HYDRAULIC ACTUATORS 124
7.2.4.1 Integration of hydraulic actuators in HVAC, fire protection, and irrigation systems to propel growth 124
TABLE 41 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 124
TABLE 42 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 124
7.3 VALVE BODY 125
7.3.1 RISING DEMAND FOR VALVE BODIES FEATURING HIGH CORROSION RESISTANCE AND BETTER CHEMICAL COMPATIBILITY TO SUPPORT SEGMENTAL GROWTH 125
7.4 OTHER COMPONENTS 125
8 INDUSTRIAL VALVES MARKET, BY FUNCTION 126
8.1 INTRODUCTION 127
FIGURE 47 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD 127
TABLE 43 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2019-2022 (USD MILLION) 127
TABLE 44 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2023-2028 (USD MILLION) 128
8.2 ON/OFF 128
8.2.1 USE OF ON/OFF VALVES IN THROTTLING APPLICATIONS 128
8.3 CONTROL 129
8.3.1 IMPLEMENTATION OF CONTROL VALVES TO CONTROL TEMPERATURE, FLOW, AND PRESSURE IN INDUSTRIAL PROCESSES 129
9 INDUSTRIAL VALVES MARKET, BY MATERIAL 130
9.1 INTRODUCTION 131
FIGURE 48 INDUSTRIAL VALVES MARKET, BY MATERIAL 131
FIGURE 49 STEEL SEGMENT TO HOLD LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, IN 2023 132
TABLE 45 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2019-2022 (USD MILLION) 132
TABLE 46 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2023-2028 (USD MILLION) 132
9.2 STEEL 133
9.2.1 RESISTANCE TO STRESS CORROSION CRACKING TO BOOST DEMAND FOR STEEL VALVES 133
9.3 CAST IRON 134
9.3.1 INCREASING USE OF CAST IRON VALVES IN WATER & WASTEWATER TREATMENT AND HYDROELECTRIC POWER PLANTS TO DRIVE MARKET 134
9.4 ALLOY BASED 134
9.4.1 RISING DEMAND FOR ALLOY-BASED VALVES TO RESOLVE PRESSURE-, TEMPERATURE-, AND CORROSION-RELATED ISSUES DURING PRODUCTION TO FUEL MARKET GROWTH 134
9.5 CRYOGENIC 135
9.5.1 INCREASING ADOPTION OF CRYOGENIC VALVES IN OIL & GAS INDUSTRY TO REGULATE LIQUIFIED GASES TO FUEL MARKET GROWTH 135
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9.6 PLASTIC 136
9.6.1 HIGH DURABILITY AND ENHANCED CORROSION RESISTANCE OF PLASTIC VALVES TO DRIVE DEMAND 136
9.7 OTHER MATERIALS 136
9.7.1 BRONZE 136
9.7.2 BRASS 136
10 INDUSTRIAL VALVES MARKET, BY SIZE 137
10.1 INTRODUCTION 138
FIGURE 50 INDUSTRIAL VALVES MARKET, BY SIZE 139
FIGURE 51 1" TO 6" SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD 139
TABLE 47 INDUSTRIAL VALVES MARKET, BY SIZE, 2019-2022 (USD MILLION) 140
TABLE 48 INDUSTRIAL VALVES MARKET, BY SIZE, 2023-2028 (USD MILLION) 140
10.2 <1" 141
10.2.1 INCREASING NEED FOR <1" VALVES FOR PRECISE FLUID CONTROL TO DRIVE MARKET 141
10.3 1" TO 6" 141
10.3.1 RISING ADOPTION OF 1" TO 6" VALVES IN OIL & GAS AND CHEMICAL INDUSTRIES TO BOOST MARKET 141
10.4 7" TO 25" 141
10.4.1 INCREASING ADOPTION OF 7" TO 25" VALVES IN OIL & GAS, WATER & WASTEWATER TREATMENT, AGRICULTURE, AND MINING APPLICATIONS TO CREATE OPPORTUNITIES FOR VALVE PROVIDERS 141
10.5 26" TO 50" 142
10.5.1 GROWING NEED FOR VALVES THAT REMAIN FUNCTIONAL IN HIGH-TEMPERATURE AND HIGH-PRESSURE ENVIRONMENTS TO PROPEL MARKET 142
10.6 >50" 142
10.6.1 OIL & GAS, POWER, AND PETROCHEMICAL INDUSTRIES TO CONTRIBUTE TO MARKET GROWTH 142
11 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 143
11.1 INTRODUCTION 144
FIGURE 52 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 144
FIGURE 53 ENERGY & POWER INDUSTRY TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2028 145
TABLE 49 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 145
TABLE 50 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 146
11.2 OIL & GAS 147
11.2.1 STEADY RECOVERY OF OIL & GAS INDUSTRY TO FOSTER DEMAND FOR INDUSTRIAL VALVES 147
TABLE 51 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 148
TABLE 52 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 148
TABLE 53 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 148
TABLE 54 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 149
11.3 WATER & WASTEWATER TREATMENT 149
11.3.1 INCREASING INVESTMENTS IN ESTABLISHING WATER TREATMENT PLANTS TO DRIVE MARKET 149
TABLE 55 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 150
TABLE 56 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 150
TABLE 57 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 150
TABLE 58 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 151
11.4 ENERGY & POWER 151
11.4.1 INCREASING ENERGY DEMAND IN DEVELOPING COUNTRIES TO BOOST MARKET 151
TABLE 59 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 152
TABLE 60 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 152
TABLE 61 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 152
TABLE 62 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 153
11.5 PHARMACEUTICAL 153
11.5.1 AUTOMATION IN PHARMA COMPANIES TO REDUCE DRUG SHORTAGE RISK TO INCREASE DEMAND FOR INDUSTRIAL VALVES 153
TABLE 63 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 154
TABLE 64 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 154
TABLE 65 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 154
TABLE 66 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 155
11.6 FOOD & BEVERAGE 155
11.6.1 RISING NEED TO IMPROVE PROCESS EFFICIENCY TO DRIVE MARKET 155
TABLE 67 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 156
TABLE 68 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 156
TABLE 69 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 156
TABLE 70 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 157
11.7 CHEMICAL 157
11.7.1 NEED TO COMPLY WITH STRINGENT SAFETY STANDARDS TO BOOST DEMAND 157
TABLE 71 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 158
TABLE 72 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 158
TABLE 73 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 158
TABLE 74 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 159
11.8 BUILDING & CONSTRUCTION 159
11.8.1 RISING APPLICATIONS OF VALVES IN BUILDING & CONSTRUCTION INDUSTRY TO DRIVE DEMAND 159
TABLE 75 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 160
TABLE 76 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 160
TABLE 77 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 160
TABLE 78 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 161
11.9 PAPER & PULP 161
11.9.1 INCREASING USE OF INDUSTRIAL VALVES IN REPULPING AND RECYCLING APPLICATIONS TO SUPPORT MARKET GROWTH 161
TABLE 79 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 162
TABLE 80 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 162
TABLE 81 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 163
TABLE 82 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 163
11.10 METAL & MINING 164
11.10.1 GROWING DEMAND FOR PREDICTIVE MAINTENANCE TO DRIVE MARKET 164
TABLE 83 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 165
TABLE 84 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 165
TABLE 85 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 165
TABLE 86 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 166
11.11 AGRICULTURE 166
11.11.1 SURGING USE OF INDUSTRIAL VALVES IN IRRIGATION APPLICATIONS TO SPUR DEMAND 166
TABLE 87 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 166
TABLE 88 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 167
TABLE 89 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 167
TABLE 90 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 167
11.12 SEMICONDUCTOR 168
11.12.1 NECESSITY TO OPTIMIZE ATOMIC LAYER DEPOSITION PROCESSES IN SEMICONDUCTOR MANUFACTURING TO DRIVE DEMAND 168
TABLE 91 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 168
TABLE 92 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 168
TABLE 93 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 169
TABLE 94 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 169
11.13 OTHER END-USER INDUSTRIES 169
TABLE 95 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 170
TABLE 96 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 170
TABLE 97 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 170
TABLE 98 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 171
12 INDUSTRIAL VALVES MARKET, BY REGION 172
12.1 INTRODUCTION 173
FIGURE 54 US TO REGISTER HIGHEST CAGR IN OVERALL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 173
FIGURE 55 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 174
TABLE 99 INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 174
TABLE 100 INDUSTRIAL VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 174
12.2 NORTH AMERICA 175
FIGURE 56 NORTH AMERICA: SNAPSHOT OF INDUSTRIAL VALVES MARKET 176
FIGURE 57 US TO REGISTER HIGHEST CAGR IN NORTH AMERICAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 177
TABLE 101 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019-2022 (USD MILLION) 177
TABLE 102 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 177
TABLE 103 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 178
TABLE 104 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 178
?
12.2.1 US 179
12.2.1.1 Aging water & wastewater infrastructure in US to accelerate market growth 179
12.2.2 CANADA 180
12.2.2.1 Rising adoption of valves in oil & gas sector to contribute to market growth 180
12.2.3 MEXICO 180
12.2.3.1 Thriving semiconductor industry to boost growth 180
12.3 EUROPE 181
FIGURE 58 EUROPE: SNAPSHOT OF INDUSTRIAL VALVES MARKET 182
FIGURE 59 GERMANY TO REGISTER HIGHEST CAGR IN EUROPEAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 183
TABLE 105 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019-2022 (USD MILLION) 183
TABLE 106 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 183
TABLE 107 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 184
TABLE 108 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 184
12.3.1 UK 185
12.3.1.1 Water industry to propel demand for control valves 185
12.3.2 GERMANY 185
12.3.2.1 Rising adoption of industrial valves by process industries to stimulate market growth 185
12.3.3 FRANCE 185
12.3.3.1 Ongoing nuclear and chemical projects to boost demand 185
12.3.4 ITALY 186
12.3.4.1 Investments in refurbishing and retrofitting water & wastewater treatment plants to support market growth 186
12.3.5 REST OF EUROPE 186
12.4 ASIA PACIFIC 187
FIGURE 60 ASIA PACIFIC: INDUSTRIAL VALVES MARKET SNAPSHOT 188
FIGURE 61 SOUTH KOREA TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET IN ASIA PACIFIC DURING FORECAST PERIOD 189
TABLE 109 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019-2022 (USD MILLION) 189
TABLE 110 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 189
TABLE 111 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 190
TABLE 112 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 190
12.4.1 CHINA 191
12.4.1.1 Booming pharmaceutical industry to promote demand for industrial valves 191
?
12.4.2 JAPAN 191
12.4.2.1 Increasing focus on renewable energy projects to boost requirement for industrial valves 191
12.4.3 INDIA 191
12.4.3.1 Oil and gas exploration activities to fuel market growth 191
12.4.4 SOUTH KOREA 192
12.4.4.1 Presence of leading chemical companies to accelerate demand for industrial valves 192
12.4.5 REST OF ASIA PACIFIC 192
12.5 REST OF THE WORLD (ROW) 192
FIGURE 62 MIDDLE EAST TO DOMINATE INDUSTRIAL VALVES MARKET IN ROW DURING FORECAST PERIOD 193
TABLE 113 ROW: INDUSTRIAL VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 193
TABLE 114 ROW: INDUSTRIAL VALVES MARKET IN ROW, BY REGION, 2023-2028 (USD MILLION) 193
TABLE 115 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019-2022 (USD MILLION) 194
TABLE 116 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023-2028 (USD MILLION) 194
12.5.1 MIDDLE EAST 195
12.5.1.1 Booming oil & gas and chemical industries to increase demand for industrial valves 195
TABLE 117 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019-2022 (USD MILLION) 195
TABLE 118 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 195
12.5.2 SOUTH AMERICA 196
12.5.2.1 Thriving petrochemical and mining industries to contribute to market growth 196
12.5.3 AFRICA 196
12.5.3.1 Increasing investments in improving water management infrastructure to generate opportunities for valve manufacturers 196
13 COMPETITIVE LANDSCAPE 197
13.1 OVERVIEW 197
13.1.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN INDUSTRIAL VALVES MARKET 197
13.2 REVENUE ANALYSIS OF TOP 5 PLAYERS 199
FIGURE 63 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 199
13.3 MARKET SHARE ANALYSIS, 2022 199
TABLE 119 INDUSTRIAL VALVES MARKET: MARKET SHARE OF KEY COMPANIES 200
FIGURE 64 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 200
13.4 COMPANY EVALUATION QUADRANT 202
13.4.1 STARS 202
13.4.2 EMERGING LEADERS 203
13.4.3 PERVASIVE PLAYERS 203
13.4.4 PARTICIPANTS 203
FIGURE 65 INDUSTRIAL VALVES MARKET (GLOBAL): COMPANY EVALUATION QUADRANT, 2022 203
13.5 SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION QUADRANT, 2022 204
13.5.1 PROGRESSIVE COMPANIES 204
13.5.2 RESPONSIVE COMPANIES 204
13.5.3 DYNAMIC COMPANIES 204
13.5.4 STARTING BLOCKS 204
FIGURE 66 INDUSTRIAL VALVES MARKET (GLOBAL): SMES EVALUATION QUADRANT, 2022 205
13.6 COMPANY FOOTPRINT 206
TABLE 120 COMPANY FOOTPRINT 206
TABLE 121 END-USER INDUSTRY: COMPANY FOOTPRINT 207
TABLE 122 TYPE: COMPANY FOOTPRINT 208
TABLE 123 REGION: COMPANY FOOTPRINT 209
13.7 COMPETITIVE BENCHMARKING 210
TABLE 124 INDUSTRIAL VALVES MARKET: DETAILED LIST OF KEY STARTUPS/SMES 210
TABLE 125 INDUSTRIAL VALVES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 211
13.8 COMPETITIVE SITUATIONS AND TRENDS 213
13.8.1 PRODUCT LAUNCHES 213
TABLE 126 INDUSTRIAL VALVES MARKET: PRODUCT LAUNCHES, APRIL 2021-DECEMBER 2022 213
13.8.2 DEALS 215
TABLE 127 INDUSTRIAL VALVES MARKET: DEALS, JUNE 2021-NOVEMBER 2022 215
13.8.3 OTHERS 217
TABLE 128 INDUSTRIAL VALVES MARKET: OTHERS, FEBRUARY 2022-NOVEMBER 2022 217

14 COMPANY PROFILES 218
(Business Overview, Products Offered, Recent Developments, Product launches, Deals, MnM view, Key strengths/right to win, Strategic choices, Weakness/competitive threats)*
14.1 KEY PLAYERS 218
14.1.1 EMERSON 218
TABLE 129 EMERSON: COMPANY OVERVIEW 218
FIGURE 67 EMERSON: COMPANY SNAPSHOT 219
TABLE 130 EMERSON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 219
TABLE 131 EMERSON: PRODUCT LAUNCHES 221
TABLE 132 EMERSON: DEALS 221
14.1.2 SCHLUMBERGER LIMITED 223
TABLE 133 SCHLUMBERGER LIMITED: COMPANY OVERVIEW 223
FIGURE 68 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT 224
TABLE 134 SCHLUMBERGER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
TABLE 135 SCHLUMBERGER LIMITED: OTHERS 225
14.1.3 FLOWSERVE CORPORATION 227
TABLE 136 FLOWSERVE CORPORATION: COMPANY OVERVIEW 227
FIGURE 69 FLOWSERVE CORPORATION: COMPANY SNAPSHOT 228
TABLE 137 FLOWSERVE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 228
TABLE 138 FLOWSERVE CORPORATION: PRODUCT LAUNCHES 230
TABLE 139 FLOWSERVE CORPORATION: DEALS 230
14.1.4 IMI PLC 232
TABLE 140 IMI PLC: COMPANY OVERVIEW 232
FIGURE 70 IMI PLC: COMPANY SNAPSHOT 233
TABLE 141 IMI PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 233
TABLE 142 IMI PLC: PRODUCT LAUNCHES 234
TABLE 143 IMI PLC: OTHERS 235
14.1.5 NELES (VALMET) 236
TABLE 144 NELES: COMPANY OVERVIEW 236
FIGURE 71 NELES: COMPANY SNAPSHOT 236
TABLE 145 NELES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 237
TABLE 146 NELES: DEALS 237
14.1.6 SPIRAX-SARCO ENGINEERING PLC 239
TABLE 147 SPIRAX-SARCO ENGINEERING PLC: COMPANY OVERVIEW 239
FIGURE 72 SPIRAX-SARCO ENGINEERING PLC: COMPANY SNAPSHOT 240
TABLE 148 SPIRAX-SARCO ENGINEERING PLC: PRODUCT OFFERINGS 240
TABLE 149 SPIRAX-SARCO ENGINEERING PLC: PRODUCT LAUNCHES 241
TABLE 150 SPIRAX-SARCO ENGINEERING PLC: DEALS 241
14.1.7 CRANE CO. 242
TABLE 151 CRANE CO.: COMPANY OVERVIEW 242
TABLE 152 CRANE CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 244
14.1.8 KITZ CORPORATION 245
TABLE 153 KITZ CORPORATION: COMPANY OVERVIEW 245
FIGURE 74 KITZ CORPORATION: COMPANY SNAPSHOT 246
TABLE 154 KITZ CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 246
TABLE 155 KITZ CORPORATION: PRODUCT LAUNCHES 247
TABLE 156 KITZ CORPORATION: DEALS 248
14.1.9 KSB SE & CO. KGAA 249
TABLE 157 KSB SE & CO. KGAA: COMPANY OVERVIEW 249
FIGURE 75 KSB SE & CO. KGAA: COMPANY SNAPSHOT 250
TABLE 158 KSB SE & CO. KGAA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 250
TABLE 159 KSB SE & CO. KGAA: PRODUCT LAUNCHES 251
14.1.10 ALFA LAVAL 252
TABLE 160 ALFA LAVAL: COMPANY OVERVIEW 252
FIGURE 76 ALFA LAVAL: COMPANY SNAPSHOT 253
TABLE 161 ALFA LAVAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 253
TABLE 162 ALFA LAVAL: DEALS 254
14.1.11 CURTISS-WRIGHT CORPORATION 255
TABLE 163 CURTISS-WRIGHT CORPORATION: COMPANY OVERVIEW 255
FIGURE 77 CURTISS-WRIGHT CORPORATION: COMPANY SNAPSHOT 256
TABLE 164 CURTISS-WRIGHT CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 257
14.1.12 PARKER HANNIFIN CORPORATION 258
TABLE 165 PARKER HANNIFIN CORPORATION: COMPANY OVERVIEW 258
FIGURE 78 PARKER HANNIFIN CORPORATION: COMPANY SNAPSHOT 259
TABLE 166 PARKER HANNIFIN CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 260
TABLE 167 PARKER HANNIFIN CORPORATION: DEALS 260
14.1.13 BRAY INTERNATIONAL 261
TABLE 168 BRAY INTERNATIONAL: BUSINESS OVERVIEW 261
TABLE 169 BRAY INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 261
14.1.14 CIRCOR INTERNATIONAL, INC. 262
TABLE 170 CIRCOR INTERNATIONAL, INC: COMPANY OVERVIEW 262
FIGURE 79 CIRCOR INTERNATIONAL, INC.: COMPANY SNAPSHOT 263
TABLE 171 CIRCOR INTERNATIONAL, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 263
TABLE 172 CIRCOR INTERNATIONAL, INC.: PRODUCT LAUNCHES 264
14.1.15 IDEX CORPORATION 265
TABLE 173 IDEX CORPORATION: COMPANY OVERVIEW 265
FIGURE 80 IDEX CORPORATION: COMPANY SNAPSHOT 266
TABLE 174 IDEX CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 267
TABLE 175 IDEX CORPORATION: DEALS 267
*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
14.2 OTHER KEY PLAYERS 268
14.2.1 NEWAY VALVE CO. 268
TABLE 176 NEWAY VALVE CO.: BUSINESS OVERVIEW 268
14.2.2 VELAN INC. 269
TABLE 177 VELAN INC.: BUSINESS OVERVIEW 269
14.2.3 DANFOSS 270
TABLE 178 DANFOSS: BUSINESS OVERVIEW 270
14.2.4 GEORG FISCHER LTD. 271
TABLE 179 GEORG FISCHER LTD.: BUSINESS OVERVIEW 271
14.2.5 SAMSON 272
TABLE 180 SAMSON: BUSINESS OVERVIEW 272
14.2.6 AVK HOLDING A/S 273
TABLE 181 AVK HOLDING A/S: BUSINESS OVERVIEW 273
14.2.7 KLINGER HOLDING 274
TABLE 182 KLINGER HOLDING: BUSINESS OVERVIEW 274
14.2.8 TRILLIUM FLOW TECHNOLOGIES 275
TABLE 183 TRILLIUM FLOW TECHNOLOGIES: BUSINESS OVERVIEW 275
14.3 OTHER PLAYERS 276
14.3.1 EBRO ARMATUREN GEBR. BROER GMBH 276
TABLE 184 EBRO ARMATUREN GEBR. BROER GMBH: BUSINESS OVERVIEW 276
14.3.2 VALVITALIA SPA 277
TABLE 185 VALVITALIA SPA: BUSINESS OVERVIEW 277
14.3.3 GEFA PROCESSTECHNIK GMBH 278
TABLE 186 GEFA PROCESSTECHNIK GMBH: BUSINESS OVERVIEW 278
14.3.4 AVCON CONTROLS PVT LTD. 279
TABLE 187 AVCON CONTROLS PVT LTD.: BUSINESS OVERVIEW 279
14.3.5 FORBES MARSHALL 280
TABLE 188 FORBES MARSHALL: BUSINESS OVERVIEW 280
14.3.6 FRENSTAR 281
TABLE 189 FRENSTAR: BUSINESS OVERVIEW 281
14.3.7 HAM-LET GROUP 282
TABLE 190 HAM-LET GROUP: BUSINESS OVERVIEW 282
14.3.8 DWYER INSTRUMENTS LTD. 283
TABLE 191 DWYER INSTRUMENTS LTD.: BUSINESS OVERVIEW 283
14.3.9 APOLLO VALVES 284
TABLE 192 APOLLO VALVES: BUSINESS OVERVIEW 284
15 ADJACENT AND RELATED MARKETS 285
15.1 INTRODUCTION 285
15.2 LIMITATIONS 285
15.3 LINED VALVES MARKET, BY TYPE 286
15.3.1 INTRODUCTION 286
TABLE 193 LINED VALVES MARKET, BY TYPE, 2019-2022 (USD MILLION) 286
TABLE 194 LINED VALVES MARKET, BY TYPE, 2023-2028 (USD MILLION) 286
15.4 BALL VALVES 287
15.4.1 COST-EFFECTIVE SOLUTION FOR PROCESS APPLICATIONS 287
TABLE 195 BALL VALVES: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 287
TABLE 196 BALL VALVES: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 288
TABLE 197 BALL VALVES: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 288
TABLE 198 BALL VALVES: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 288
15.5 BUTTERFLY VALVES 289
15.5.1 FEATURES EXCELLENT SHUTOFF PROTECTION AND LONG SERVICE LIFE 289
TABLE 199 BUTTERFLY VALVES: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 289
TABLE 200 BUTTERFLY VALVES: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 289
TABLE 201 BUTTERFLY VALVES: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 290
TABLE 202 BUTTERFLY VALVES: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 290
15.6 GATE VALVES 290
15.6.1 WIDELY USED FOR ON/OFF APPLICATIONS 290
TABLE 203 GATE VALVES: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 291
TABLE 204 GATE VALVES: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 291
TABLE 205 GATE VALVES: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 291
TABLE 206 GATE VALVES: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 292
15.7 GLOBE VALVES 292
15.7.1 CAN HANDLE HIGHLY CORROSIVE AND TOXIC CHEMICALS 292
TABLE 207 GLOBE VALVES: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 292
TABLE 208 GLOBE VALVES: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 293
TABLE 209 GLOBE VALVES: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 293
TABLE 210 GLOBE VALVES: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 293
15.8 PLUG VALVES 294
15.8.1 LINED PLUG VALVES MARKET TO WITNESS SUBSTANTIAL GROWTH IN NEXT FEW YEARS 294
TABLE 211 PLUG VALVES: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 294
TABLE 212 PLUG VALVES: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 294
TABLE 213 PLUG VALVES: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 295
TABLE 214 PLUG VALVES: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 295
15.9 OTHERS 295
TABLE 215 OTHERS: LINED VALVES MARKET, BY REGION, 2019-2022 (USD MILLION) 296
TABLE 216 OTHERS: LINED VALVES MARKET, BY REGION, 2023-2028 (USD MILLION) 296
TABLE 217 OTHERS: LINED VALVES MARKET, BY INDUSTRY, 2019-2022 (USD MILLION) 296
TABLE 218 OTHERS: LINED VALVES MARKET, BY INDUSTRY, 2023-2028 (USD MILLION) 297
16 APPENDIX 298
16.1 INSIGHTS FROM INDUSTRY EXPERTS 298
16.2 DISCUSSION GUIDE 299
16.3 KNOWLEDGESTORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 303
16.4 CUSTOMIZATION OPTIONS 305
16.5 RELATED REPORTS 305
16.6 AUTHOR DETAILS 306

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    • Confirm Content
      • Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:

        Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.

        Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.

        Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.

    • Sample Pages
      • With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.

        It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.

        To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

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      • Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.

        To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.

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      • All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.

        Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Discounts
      • As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.

        Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.

        To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Available Currencies
      • Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.

        Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.

        To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.

    • Licenses
      • License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Global Site License
      • The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.

        It is important to note that this may exclude Parent Companies or Subsidiaries.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Formats
      • The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.

        If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.

    • Delivery
      • Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.

        Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.

        If a delay in delivery is expected you will be informed about it immediately.

    • Shipping Charges
      • As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.

        If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.

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        Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.

        For more information on PayU please visit: https://www.payu.pl/en/about-us

    • By Money Transfer
      • If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.

        With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.

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      • We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.

        Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.

    • Credit Card Security
      • We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.

        PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.

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