Global Industrial Valves Market to Reach $92.3 Billion by 2026

Global Industrial Valves Market to Reach $92.3 Billion by 2026

Industrial valves are mechanical or electromechanical devices intended to control, divert and regulate pressure and flow of fluids by opening, blocking or closing fluid passage. Industrial valves are mainly utilized in capital-intensive industries, as these industries require a large number of valves during the installation stage. The valves are also utilized as flow controllers for pipelines, through which gases, liquids and semi-solids are transported. Amid the COVID-19 crisis, the global market for Industrial Valves estimated at US$73.2 Billion in the year 2020, is projected to reach a revised size of US$92.3 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. Ball Valves, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$30.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Butterfly Valves segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Industrial Valves market.

The U.S. Market is Estimated at $20.3 Billion in 2021, While China is Forecast to Reach $18.2 Billion by 2026

The Industrial Valves market in the U.S. is estimated at US$20.3 Billion in the year 2021. The country currently accounts for a 27.03% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$18.2 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach US$19.4 Billion by the end of the analysis period. Buoyed by innovations over the last decade and a half, the valve industry is expected to benefit significantly from the growing demand for and expansion of clean water, energy, food, and power sectors in the long run. Several long-term factors working in tandem to drive growth include government regulations relating to emission control, and growing need to optimize resources such as water and power. Installation of scrubber systems and catalytic systems in power plants has and will continue to boost demand for valves.

Check Valves Segment to Reach $12.4 Billion by 2026

Check valves are ideal even for such applications where different gases are made to flow through a single pipeline. There are different basic designs available, which include swing check valves, lift or piston check valves, dual flap check valves, and air check valves. In the global Check Valves segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.7 Billion in the year 2020 will reach a projected size of US$9.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period.