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Market Insight- Global Valves Market

Market Overview

A valve is a mechanical device that controls or regulates the flow of fluid (liquid or gas) by the action of closing and opening or partially obstructing various gateways. Valves are also used to control temperatures. In civic areas, valves are typically used to control the water supply for household applications. However, valves find applications in industrial use such as oil & gas, chemical, and more to perform crucial tasks. There are various types of valves used namely ball valve, gate valve, butterfly valve, and globe valve. Moreover, valves are used in demineralized water systems, high integrity pressure protection systems, radwaste systems in nuclear facilities, pressure control systems, on/off systems, etc.

The global Valve Market was accounted for US$ 72,862.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 6.8% for the period 2019-2027.

Market Dynamics- Drivers

  1. Increasing number of oil & gas exploration activities are expected to drive growth of the global valves market during the forecast period

Valves have registered significant demand from the oil & gas industry, typically due to their extensive use throughout upstream, midstream, and downstream activities. Although there is high demand for oil & gas, supply for the same is declining due to worldwide decrease in oil & gas reserves. Thus, such circumstances have compelled oil & gas companies to explore new fields to enhance extraction efficiency. Governments of various countries are focused on investing in new oil & gas companies. For instance, according to Government of Dubai, as of 2017, it owns 1381 oil and gas companies. Demand for valves is anticipated to rise with rising oil & gas plants. Moreover, in February 2017, the U.S. crude oil production surpassed 9 million barrels per day, around 0.5 million barrels higher than in 2016. Floating production storage and offloading (FPSO) necessitates number of valves in activities such as offshore production platforms, tank farms, and gas storage. Hence, these factors are expected to support the market growth during the forecast period.

  1. High growth in pipelines sector is expected to propel growth of the global valves market over the forecast period

Generally, valves are often placed at a pipeline distance of less than 10% of the total length of the pipeline for effective and easy control of gas in oil and gas and other industries. According to the Indian Oil Corporation Ltd. (IOCL), the natural gas pipeline network in India increased from 10,900 km to 15,000 km with an investment of US$ 1.5 Bn from 2015 to 2016. Moreover, countries such as the U.S> and the U.K. are expected to invest significantly in pipeline sector. For instance, in 2016, the U.S. government launched Dakota Access Pipeline Project, which is expected to carry 470,000 barrels per day of crude for 1,172 miles. Therefore, high growth of pipeline sector is expected to boost growth of the global valves market in the near future.

North America region dominated the global valve Market in 2019, accounting for 30.1% share in terms of volume, followed by Europe, Asia Pacific, Middle East and Africa and Latin America

Valve  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Increasing cost of raw materials and lack of innovations are expected to hinder the global valves market growth over the forecast period

Raw materials comprise around 60% of the total cost of the product. The amount of R&D required to meet the innovations in the valves market is large. Such issues inhibit the capabilities of valve manufacturers and suppliers to meet the market demand. Furthermore, raw materials such as stainless steel, ductile iron, and carbon steel in the form of the forge are crucial to manufacturing valves. Prices of these materials have been on the rise and fluctuating due to numerous reasons such as increased shipping cost. Moreover, the time and efforts required to innovate specific requirements in valves are higher. Thus, these factors are expected to hinder the market growth over the forecast period.

  1. Growing competition from unorganized valves manufacturers is expected to hamper the global valves market growth over the forecast period

The global valves market is highly fragmented with high presence of players both large and SMEs. Local unorganized manufacturers are offering stiff competition to large companies by providing valves at a lower price than prevailing price levels. In the market. This, in turn, reduces profit margin and dilutes the market share of the organized valve manufacturers. Moreover, emerging economies in Asia Pacific such as India and China have the presence of unorganized local manufacturers. Thus, these factors are expected to hamper the market growth in the near future.

Market Opportunities

  1. High growth of refining and power generation industries can provide major growth opportunities

Sustained expansion of the economy is determined by adequate utilities and infrastructure development. Power sector offers lucrative growth prospects for the global valves market. Various countries around the globe are increasingly investing in power generation. For instance, as of August 2016, the total number of power plants in the U.S. was 7,658 that has the electricity generation capacity of at least 1 megawatt (MW). Moreover, in power generation plants, ball valves, globe valves, control valves, etc. play a crucial role. Opening and closing inlets and outlets and controlling cooling circuits in power plants are major roles of valves in a power plant. There has been a significant increase in number of power stations and power generation capacities across the globe. According to Coherent Market Insights’ analysis, as of 2017, the total installed capacity of power stations in India was 315,426 megawatt (MW). Moreover, The Ministry of Power of India has set a target of 1,229 Bn units of electricity to be generated in the FY 2017-2018.

  1. Rising demand for valves in water treatment is expected to present major business opportunities

According to the United Nations Organization’s report published in March 2017, 80% of the world’s wastewater is released in the environment untreated. Such alarming consequences regarding untreated wastewater have increased the demand for wastewater treatment plants worldwide. Optimum water treatment systems and valves are employed to make water waste plants technically superior. Different types of valves are used in wastewater treatment plants including check valves, air valves, control valves, gate valves, etc. Check valves are installed in water treatment plants to avoid the flow of water while the pumps are not in operation. Whereas, main air valves are installed on the pump at high points on force to prevent vacuum pockets to prevent from creating force.

Valve  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Growing plant automation

Complex processes in the oil & gas industry and pulp and paper industries are regulated automatically with the use of robots and other advanced technologies. Advent of advanced technology in industries has made activities highly effective and flexible. The primary advantages offered by automation are interoperability, information transparency, and maintaining the integrity of the production activities. Valves have been an integral part of process automation system in industries since they determine the efficiency of the plant. Critical performance areas for valves on automated plants are complex piping systems, fluctuating temperature pipes, and process pressure control.

  1. Extensive use of valves in a plethora of applications

Industrial valves have witnessed higher demand to achieve greater efficiency in industrial operations. The use of valves has increased significantly across various end-use verticals, owing to reduction of complexities of installation and maintenance of valves. Major companies in the market are focused on offering reliable valves such as butterfly valves, check valves, gate valves, and safety valves that can be utilized for wide range of applications. Moreover, various end-use industries have replaced the long-standing pressure valves with newly introduced safety valves that are capable of performing functions such as relieving, reducing, sequencing, or unloading fluid pressure. 

Regulations

Adoption of valves has elevated with introduction of governmental regulations towards environment and pollution control. Furthermore, some of the regulations and acts introduced by ASEAN countries for waste and wastewater management are

  • Government regulation number 82, 2001 for water quality management and wastewater controlling introduced in Indonesia
  • Street, drainage and building act 1974 introduced in Malaysia
  • Environmental public health act introduced by the government of Singapore that focuses on general waste collection and toxic industrial waste management regulations
  • Decision on Hazardous Waste Management 1999 act introduced by the Government of Vietnam

Value Chain Analysis

  1. The participants in the value chain of valve market are manufacturers are manufacturers, suppliers, manufacturer representatives, stockiest /super stockiest, dealer, retailer and end user. Distribution channels for valves vary from country to country, depending on various factors such as government regulations, buyer behavior, composition of target market, and availability of partners among others.
  2. With stringent regulations specific to valves, manufacturers in valves market are considering advanced technologies to manufacture various types of valves. The distribution channel followed by companies is extensive. The valve manufacturing companies are focusing on expanding the channel partners to enhance the distribution channel of valves.

Valve  | Coherent Market Insights

Segment information:

In global Valves Market, by product type, Ball Valves sub-segment dominated the global market in 2019, accounting for 15.0% share in terms of volume, followed by Butterfly Valves, globe Valves, Gate Valves, Pressure Reducing Valves and Safety/Relief Valves respectively.

Valve  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the global valves market are Schlumberger Limited, Goodwin International Ltd, Honeywell International Inc., General Electric Company, Emerson Electric Co., Rotork Plc, KITZ Corporation, AVK Holding A/S, Bürkert Fluid Control Systems, and Flowserve Corporation.

Key Developments

  1. Key players in the market are focused on capacity expansion, in order to enhance the market presence. For instance, in February 2020, Schlumberger Limited, a U.S.-based oilfield service company, inaugurated its new manufacturing center for manufacturing of isolation valve technologies such as GROVE valves and ORBIT rising stem ball valves in the King Salman Energy Park (SPARK), Saudi Arabia.
  2. Major companies in the market are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in Emerson Electric Co. acquired General Electric’s Intelligent Platform business, enabling Emerson a global leader in automation for processes and industrial customers.

Valves are crucial parts of industrial applications and processes. Valves are typically used to control and regulate the flow of liquids, gases, and slurries. Valves find major applications in pipelines and piping systems to control the flow of fluid. Increasing government regulations towards workplace safety and emission norms have increased the installation of efficient valves in process and manufacturing industries. Valves can be classified on the basis of how they are actuated: solenoid valve, hydraulic, pneumatic, manual, and motor. One of the most ancient valves is a freely hinged flap, which obstructs the flow of fluid in one direction and can be pushed open by flow in the opposite direction.

Market Dynamics

Generally, valves are often placed at a pipeline distance of less than 10% of the total length of the pipeline for effective and easy control of gas in oil and gas and other industries. According to the Indian Oil Corporation Ltd. (IOCL), the natural gas pipeline network in India increased from 10,900 km to 15,000 km with an investment of US$ 1.5 Bn from 2015 to 2016. Moreover, countries such as the U.S> and the U.K. are expected to invest significantly in pipeline sector. For instance, in 2016, the U.S. government launched Dakota Access Pipeline Project, which is expected to carry 470,000 barrels per day of crude for 1,172 miles. Therefore, high growth of pipeline sector is expected to boost growth of the global valves market in the near future.

Market Taxonomy

This report segments the Global Valves Market on the basis of Product Type, Industry and Region. On the basis of Product Type, Global Valves Market is segmented into Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves and Other Valves. On the basis of Industry, the Global Valves Market is segmented into Oil&Gas (LNG, Petroleum (Upstream, Midstream, Downstream,(Petrochemical)), Power(Fossils(Coal & Oil, Natural Gas, Nuclear Power, Other Power)),Chemicals, Marine, Construction, Pulp & Paper, Mining, Water & Waste Water Treatment and Others. On the basis of region, Global Valves Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Valves Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Valves Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Valves Market includes Schlumberger Limited, Goodwin International Ltd, Honeywell International Inc., General Electric Company, Emerson Electric Co., Rotork Plc, KITZ Corporation, AVK Holding A/S, Bürkert Fluid Control Systems, and Flowserve Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Valves Market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Valves Market

Detailed Segmentation:

  • Global Valves Market, By Product Type:
    • Pressure Reducing Valves
    • Safety/Relief Valves
    • Control Valves
    • Globe Valves
    • Plug Valves
    • Gate Valves
    • Ball Valves
    • Butterfly Valves
    • Diaphragm Valves
    • Other Valves
  • Global Valves Market, By Industry:
    • Oil & Gas
      • LNG
      • Petroleum
        • Upstream
        • Midstream
        • Downstream
          • Petrochemical
    • Power
      • Fossil
        • Coal & Oil
        • Natural Gas
        • Nuclear Power
        • Other Power
    • Chemicals
    • Marine
    • Construction
    • Pulp & Paper
    • Mining
    • Water & Waste Water Treatment
    • Others
  • Global Valves Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • AVK Holding A/S
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Bürkert Fluid Control Systems
    • Emerson Electric Co.
    • Flowserve Corporation.
    • General Electric Company
    • Goodwin International Ltd
    • Honeywell International Inc.
    • KITZ Corporation
    • Rotork Plc
    • Schlumberger Limited

Browse all the market data tables and figures on “Global Valves Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Product Type
      • Market Snippet, By Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Valve Market, BY Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Pressure Reducing Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Safety/Relief Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Control Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Globe Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Plug Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Gate Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Ball Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Butterfly Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Diaphragm Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Other Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Valve Market, By Industry, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Oil & Gas
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Millon)
        • LNG
        • Petroleum
          • Upstream
          • Midstream
          • Downstream
            • Petrochemical
    • Power
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Fossil
      • Coal & Oil
      • Natural Gas
      • Nuclear Power
      • Other Power
    • Chemicals
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Marine
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Construction
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Pulp & Paper
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Mining
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Water & Waste Water Treatment
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Valve Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2019–2027(US$ Million)
      • Market Size and Forecast, By Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Product Type, 2019–2027(US$ Million)
      • Market Size and Forecast, By Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Product Type, 2019–2027(US$ Million)
      • Market Size and Forecast, By Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2019–2027(US$ Million)
      • Market Size and Forecast, By Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Product Type, 2019–2027(US$ Million)
      • Market Size and Forecast, By Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • AVK Holding A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bürkert Fluid Control Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Emerson Electric Co.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Flowserve Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Goodwin International Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • KITZ Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Rotork Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schlumberger Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Valve Market -forecast to 2027”.

Frequently Asked Questions

The global valves market is estimated to reach US$ 124,177.1 Million by 2027.
Major players operating in the global valves market include Schlumberger Limited, Goodwin International Ltd, Honeywell International Inc., General Electric Company, Emerson Electric Co., Rotork Plc, KITZ Corporation, AVK Holding A/S, Bürkert Fluid Control Systems, and Flowserve Corporation.
Increasing cost of raw materials and lack of innovations are some of the major factors that are expected to hamper growth of the market over the forecast period.
Increasing number of oil & gas exploration activities is one of the major factors that is expected to propel growth of the market over the forecast period.
The global valves market is estimated to exhibit a CAGR of 6.8% during the forecast period (2019-2027).
Among regions, North America is expected to hold dominant position in the global valves market in 2019, accounting for 30.1% share in terms of volume, followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
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