Understanding the Dynamics of the Industrial Valves Market: Expected Value of $99.8 Billion by 2028

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MarketsandMarkets Presents
The Global Industrial Valves Market Size is
estimated to be USD 80.4 billion in 2023 and is
projected to reach USD 99.8 billion by 2028 at a
CAGR of 4.4. Growing demand for valves from
pharmaceutical and healthcare industries,
shifting focus of process industries towards
adoption of automation solutions, and the
globally rising need for establishing newer power
plants and revamping existing ones are major
factors driving the growth of the Industrial
Valves Market.
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Based on type, globe valves held the largest
share of the industrial valves market in 2022
For cryogenic applications, stainless steel and
bronze globe valves are popular, requiring only
an extended bonnet to keep the packing gland area
from freezing. Globe valves are suitable for
high-pressure systems, making them ideal for
handling high-pressure steam applications in
power plants. In addition, in the lubrication
systems and coolant pipes in power plants, globe
valves are used to regulate the fluid
flow. Download PDF Brochure _at_ https//www.markets
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Based on function, on/off function held the
larger share of the industrial valves market in
2022 Isolation valves can be in the normally open
(NO) or normally closed (NC) positions. Normally
open valves find applications in pressure
vessels, pumps, compressors, tanks, pressure
sensors, liquid-level measurement
instrumentation, and other such components.
Isolation valves can be used to deliver flow
logic, such as selecting one flow path over
another and helping attach external equipment to
a system. These valves allow fluids to flow
between components/devices or to be connected to
the sensors further in the process. Vent and
drain valves are examples of normally closed
valves, which are only opened while
depressurizing or draining fluids from a system.
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Based on component, actuators held the largest
share of the industrial valves market in 2022
Pneumatic actuators are ideal for a range of
applications because the smallest of pneumatic
actuators can offer up to a few-inch pounds of
torque, whereas the largest actuators are capable
of offering more than a million inch-pounds of
torque. Hydraulic actuators convert fluid
pressure into motion in response to a signal.
They use an outside power source and receive
signals that can be measured in amperes, volts,
or pressure.
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Based on material, steel valves held the largest
share of the industrial valves market in
2022 Steel valves are used in industrial
applications where pressure ratings,
high-temperature functionality, and corrosion
resistance are required to be handled more
efficiently. The most common types of steel used
to construct valves are ferritic, austenitic,
martensitic, and duplex. Carbon steels and basic
stainless steels, such as 316s, 329s, and 400s,
are suitable for industries such as oil gas,
water wastewater treatment, pharmaceutical,
building construction, and pulp paper. Speak
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Based on size, industrial valves in the size
range of 1 to 6 held the largest share of the
market in 2022 Most valves used in process
systems are installed in piping that is equal to
or less than 4 in size. The selection of valve
materials is highly subjective and depends on
application requirements. In the absence of a
precise size preference, valves sized 6 or less
are used. Valves in this size range are suitable
for handling varied types of media including
slurries, chemicals, and water across industries
such as food beverage, pharmaceutical, and
water wastewater treatment.
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Based on end-user industry, the energy power
industry held the largest share of the industrial
valves market in 2022 The increasing
construction of new coal-fired power plants, gas
turbines, and nuclear power plants is likely to
be the major factor contributing to the growth of
the industrial valves market growth for the
energy power industry. The stringent
environmental policies in the US and Europe and
efforts by end-user industries to reduce carbon
footprints and carbon dioxide emissions are the
major factors that would increase the need to
repair and renovate existing power plants.
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The Industrial Valves Market in Asia Pacific held
the largest share of the market in 2022 China is
among the leading manufacturers and exporters of
industrial valves, with several medium-sized
manufacturers based in the country. Japan depends
on imports for over 90 of its primary energy
needs and relies heavily on its nuclear program
to generate electricity for the rest of the
energy needs. A new legislation by the Nuclear
Regulation Authority has facilitated the
integration of nuclear plants to generate
electricity, thereby fueling the industrial
valves market. In India, the demand from the oil
gas industry is due to offshore explorations,
as well as the development and expansion of oil
and gas pipeline infrastructure.
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Key Players Major companies 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). Browse For
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