Industrial Valve Market Size - By Type (Ball Valves, Check Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Diaphragm Valves, Safety Valves), By Material, By Component, By Size, By End Use, By Distribution Channel & Forecast, 2024 – 2032

Industrial Valve Market Size

Industrial Valve Market size was valued at USD 72 billion in 2023 and is anticipated to register a CAGR of over 6.2% between 2024 and 2032. The increasing construction of new power plants, rise in the industrial equipment performance & lubricant life with continuous filtration of lubrication, and growing adoption of high-quality industrial valves to enhance output & minimize losses are some of the factors driving market growth. In recent years, improvements in manufacturing techniques and material technology have enabled newly developed valves to provide effective performance in increased pressure and temperature conditions.
 

In the rapidly shifting model of industrial manufacturing, the demand for high-quality industrial valves has risen. As industries are continuously pushing the boundaries of innovation, the role of industrial valves in gases, flow of liquid, and other substances has become increasingly crucial. The integration of advanced technologies, such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT), in valve design & manufacturing is becoming a pivotal factor in meeting the expectations of durability, precision & safety in industrial processes. These advanced technologies are addressing the growing complexities faced by modern industries. Furthermore, these cutting-edge technologies not only improve the overall performance of industrial units but also eliminate operational risks and increase productivity.
 

Valve manufacturers concentrate on low-cost manufacturing locations since outsourcing provides advantages in terms of pricing. They were able to cut expenses, but problems like poor quality and late deliveries continued to arise. Increased consumer dissatisfaction and rejection rates follow, forcing businesses to adjust their supply chains in order to standardize quality throughout all of their facilities. Due to this, valve manufacturers have to follow many certifications and local laws pertaining to industrial valves. This leads to a range of product specifications because valves are widely available in a number of end-user sectors.
 

Industrial Valve Market Trends

There is a growing demand for remote conditional monitoring among end-user industries to increase workplace safety, reduce unplanned downtime, and reduce maintenance & repair costs. The implementation of automation in valves has further increased the emphasis on precise monitoring. It eliminates human errors in process control and provides precise control over service fluid. Moreover, several manufacturers have begun offering end-use industries with condition monitoring solutions. For instance, Emerson Electric Co., an industrial automation company, provides valve condition monitoring and non-intrusive health monitoring solutions for the chemical, power, energy, and life sciences sectors that improve overall productivity & plant safety.
 

Industrial Valve Market Analysis

Based on type, the check valves segment held over USD 14.04 billion revenue in 2023. The chemical industry widely utilizes check valves in several applications such as ensuring the safety & efficiency of chemical processing systems, preventing leakage & backflow, and controlling the flow of corrosive & hazardous fluids. In March 2023, Check-All Valve, a manufacturing company, launched adapter valves, which include MALE THREAD X FEMALE THREAD (MODEL AM) and FEMALE THREAD X MALE THREAD (MODEL AF). These models feature identical pipe thread sizes on both ends, which makes them ideal for the chemical industry.
 

The diaphragm valves segment is also anticipated to grow at a significant CAGR during the forecast period. These valves lessen the risk of contamination, enhance the flow of regulation for a smooth process, and reduce the maintenance costs of industries. Furthermore, the growing demand for radioactive waste management, increasing demand for safe & reliable production, and growing use of diaphragm valves in water treatment facilities are propelling the industrial valve market growth.
 

In July 2022, KSB SE & Co. KGaA, a German multinational manufacturer of valves & pumps, launched the SISTO-16RGAMaXX diaphragm valve type series, which features stainless steel body and threaded sockets. These valves are installed in drinking water transport systems to meet demands in terms of design and materials employed.
 

Based on component, the industrial valve market size from actuators segment dominated around USD 31.61 billion in 2023. Actuators are majorly used in controlling or moving mechanisms and systems. The growing need to reduce downtime and increase productivity in manufacturing & industrial activities is expected to drive segment growth. Moreover, the growing demand for industrial robots and process automation in several industry verticals is also positively impacting the actuators segment growth. Robots can accomplish specific mechanical tasks with the aid of several types of actuators such as pneumatic, electric, and hydraulic, among others.
 

The others segment is anticipated to grow at a significant CAGR during the forecast period. The others segment includes positioners and I/P converters. The use of smart or dial valve positioners has increased in recent years compared to electro-pneumatic and pneumatic valve positioners. They not only control the position of the valve but also collect data about the valve and automatically alert the users about the performance of the valves, thereby aiding maintenance and diagnostics.
 

North America industrial valve market accounted for 22% of the revenue share in 2023. One of the major drivers propelling the regional market is the increasing energy demand. The need for efficient energy generation & delivery is expanding due to the region's industrialization and growing population. Industrial valves are essential for maintaining the efficiency and safety in power generation facilities by managing the flow of fluids & gases. The continuing progress in oil & gas production and exploration, along with the growth of renewable energy sources, is driving the demand for high-performance industrial valves.
 

The industry 4.0 revolution has resulted in the development of intelligent or smart valves with sensors, actuators, and communication capabilities. By enabling remote control, predictive maintenance, and real-time monitoring, these smart valves improve overall operating efficiency. Furthermore, manufacturers have an opportunity to profit from the growing demand for technologically sophisticated, networked industrial valves due to the increased focus on automation, the Internet of Things (IoT), and data analytics.
 

Industrial Valve Market Share

The industrial valve industry is highly fragmented due to the presence of numerous local & global players across the globe. In 2023, the above list of dominant market players collectively held a substantial 20% - 25% market share. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions, facility expansion, and collaborations to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position. These enterprises consistently allocate resources to research & development, aiming to enhance their designs and integrate cutting-edge technologies, thereby ensuring that they maintain a competitive edge.
 

Industrial Valve Market Companies

Major companies operating in the industrial valve industry include:

• ALFA LAVAL
• AVK Holding A/S
• Baker Hughes Company
• CIRCOR International, Inc.
• Crane Company
• Curtiss-Wright Corporation
• Danfoss
• Emerson Electric Co.
• Hitachi, Ltd.
• Honeywell International Inc.
• KSB SE & Co. KGaA
• KITZ Corporation
• SLB (Schlumberger Limited.)
• The Weir Group PLC
• Watts (Watts Water Technologies)
   

Industrial Valve Industry News

• In January 2024, Baker Hughes Company, an energy technology company, launched the Valve Lifecycle Management (VLM) Cloud application for end-user customers. The cloud application focuses on three main areas: installed base management, monitoring & diagnostics, and aftermarket strategy & execution. With the launch of the VLM cloud, each valve will receive a special Digital Asset Tag (DAT, a QR Code), which connects the cloud application to the physical valves and provides all digital data about the valves to the end-user.
   
• In January 2024, Crane Company acquired Vian Enterprises, a global designer and manufacturer of lubrication pumps & lubrication systems, for USD 103 million. With this acquisition, Crane strengthened its position on gearboxes, auxiliary power units, and engines.
   
• In May 2023, SISTO Armaturen S.A., part of the KSB Group, received a contract to supply diaphragm valves to the chloralkali electrolysis facility being built in Fos-sur-Mer, France
   

The industrial valve market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Type

• Ball Valves
• Check Valves
• Butterfly Valves
• Gate Valves
• Globe Valves
• Plug Valves
• Diaphragm Valves
• Safety Valves

Market, By Material

• Steel
• Plastic
• Cast Iron
• Alloy-based
• Others

Market, By Component

• Actuators
• Valve Body
• Others

Market, By Size

• <1”
• 1” to 6”
• 7” to 25”
• 26” to 50”
• >50”

Market, By End Use

• Chemical
• Energy & Utilities
• Construction
• Metal & Mining
• Agriculture
• Pharmaceutical
• Food & Beverage
• Pulp & Paper
• Others

Market, By Distribution Channel

• Direct Sales
• Indirect Sales

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA