Industrial Valve Market Analysis

Industrial Valve Market Analysis

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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.