Latin America LPG Valves and Accessories Market Size

Latin America LPG Valves and Accessories Market was valued at around USD 302 million in 2023 and is estimated to register a CAGR of around 3.6% between 2024 and 2032. The rising preference for LPG as an energy source—attributed to its efficiency and reduced carbon footprint relative to other fossil fuels—fuels the demand for premium valves and accessories.

This demand is further bolstered by the region's economic growth. Rapid urbanization, a hallmark of infrastructure development, necessitates the expansion and modernization of LPG distribution networks. Countries like Brazil and Mexico, witnessing industrial expansion, prominently showcase this growth, underscoring the need for dependable LPG systems.

Economic fluctuations in various Latin American nations can impact both consumers purchasing power and industrial investments. For instance, in countries like Argentina and Venezuela, high inflation, currency devaluation, and fiscal deficits can curtail expenditures on new LPG installations and the replacement of valves and accessories. Moreover, the rising adoption of alternative energy sources—such as natural gas, electricity, and renewables like solar energy—poses challenges for the LPG market. In areas with a robust natural gas infrastructure, both consumers and industries often lean towards natural gas over LPG, citing lower costs and perceived environmental advantages.

Latin America LPG Valves and Accessories Market Trends

Rising trend in the adoption of Liquefied Petroleum Gas (LPG) over conventional fuels such as coal and wood, notably in both residential and commercial sectors. This transition is largely fueled by a growing recognition of LPG's environmental advantages, such as diminished carbon emissions and lessened air pollution. Furthermore, the growth of LPG distribution networks, especially in rural and previously neglected urban locales, is propelling the increased use of LPG for cooking and heating. Both governmental bodies and private enterprises are channeling investments into the expansion of LPG infrastructure, aiming to broaden its accessibility.

Latin America LPG Valves and Accessories Market Analysis

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Based on the product type, the valves segment accounted for revenue of around USD 172 million in 2023 and is expected to reach USD 231 million by 2032. Valves play a pivotal role in LPG systems, serving as the gatekeepers for flow, pressure control, and safety in gas distribution. They are indispensable for the safe and efficient functioning of LPG infrastructure, performing key tasks like regulating, stopping, and directing LPG flow. As LPG finds increasing applications in residential, commercial, and industrial sectors, the demand for diverse valve types remains robust.

Moreover, there's a rising demand for enhanced safety features in LPG valves—like pressure relief systems, automatic shut-offs, and leak detection. Such features are vital for accident prevention and safe LPG handling, further fueling market demand.

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Based on application, the cooking segment accounted for around 33% market share in 2023 and is expected to reach 34% by 2032. In Latin America, LPG serves as a primary energy source for cooking, especially in both residential and commercial kitchens. Its efficiency and convenience often make it the preferred choice over alternative fuels, subsequently boosting the demand for associated valves and accessories. Urbanization and evolving lifestyles in the region further amplify the appetite for LPG in home cooking. With the rising adoption of LPG in both households and commercial settings, there's a heightened demand for premium valves and accessories.

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Brazil held approximately 30% share of the LPG gas valves and accessories market largest market share of around in 2023 and will reach USD 130 million by 2032. As one of Latin America's largest consumers of LPG, Brazil sees widespread use of LPG across residential cooking, industrial applications, and commercial purposes. This strong demand underscores the need for valves and accessories, ensuring safe and efficient gas management. LPG's diverse applications range from residential kitchens and commercial food services to manufacturing industries and energy production. Such a broad usage necessitates a wide variety of LPG valves and accessories. With Brazil's industrial sector, encompassing manufacturing and energy production, on the rise, the demand for LPG systems and components is also increasing.

Latin America LPG Valves and Accessories Market Share

The Latin America LPG Valves and Accessories industry is fragmented, with several regional companies operating on a global scale. In 2023, Emerson Electric Co., Honeywell International Inc., Cameron International Corporation (Schlumberger), Parker Hannifin Corporation, Flowserve Corporation led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.

Latin America LPG Valves and Accessories Market Companies

Major players operating in the Latin America LPG Valves and Accessories industry are:

• Cameron International Corporation (Schlumberger)
• Cavagna Group S.p.A.
• Emerson Electric Co.
• Flowserve Corporation
• GOK Regler- und Armaturen-Gesellschaft mbH & Co. KG
• Honeywell International Inc
• IMPCO by EControls
• KROHNE Messtechnik GmbH
• LESER GmbH & Co. KG
• OPW, A Dover Company
• Orson Holdings Company Ltd
• Parker Hannifin Corporation
• Rochester Sensors
• Rotarex
• Sherwood
  

Latin America LPG Valves and Accessories Industry News

• In August 2024, Flowserve Corporation announced that it has signed a definitive agreement to acquire MOGAS Industries, a privately held, Houston-based company specializing in mission-critical severe service valves and associated aftermarket services. This acquisition is expected to enhance Flowserve's capabilities in providing advanced valve solutions and expand its service offerings in key markets.
  
• In November 2022, Parker Hannifin announced the launch of their next-generation pre-compensated load sensing (LS) valves, part of the VA Series. These valves are specifically engineered to meet the rigorous demands of highly challenging mobile machinery applications. The VA Series mobile directional control valves deliver market-leading performance, providing exceptional maneuverability and durability.
  

This Latin America LPG valves and accessories market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) and volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Valves
  • Ball valves
  • Globe valves
  • Check valves
  • Safety valves
  • Shut-off valves
  • Pressure Relief & Regulator valves
  • Others (Gate Valve, Needle Valves, etc.)
• Accessories
  • Quick-connect couplings
  • Flexible hoses
  • Pressure Gauge & Flow Meters
  • Others (Filter System, etc.)

Market, By Pressure Range

• High pressure (Upto 5000 psi)
• Ultra-high pressure (above 5000 psi)

Market, By Application

• Cooking
• Heating
• Power generation
• Medical Gas Delivery
• Compressed Air Storage
• LPG Bulk Storage
• Pneumatic System
• Others (Alternative Fuel, etc.)

Market, By End-Use

• Manufacturing Industries
• Healthcare
• Energy
• LPG Transportation
• Commercial Kitchens and Food Service Providers
• Workshop & Maintenance Services
• Others (Space, Agriculture, etc.)

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following countries:

• Brazil
• Mexico
• Argentina
• Peru
• Rest of Latin America