Industrial Valves Global Market Report 2023

Major players in the industrial valves market are Emerson Electric Co., The Flowserve Corporation, Schlumberger Limited, Crane Holdings Co., KITZ Corporation, AVK Holdings A/S, Forbes Marshall, KSB SE

New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Valves Global Market Report 2023" - https://www.reportlinker.com/p06463980/?utm_source=GNW KGaA, Spirax-Sarco Engineering PLC., Metso Outotec Corporation, KLINGER Holding, Alfa Laval AB, Curtiss-Wright Corporation, Honeywell International Inc., Velan Inc., Neway Valve, Samson AG, Neles, AVCON Controls Pvt. Ltd., Sirca International S.p.A., Fluidline Valves Co. Pvt. Ltd., Davis Valve, Powell Valves, Virgo Engineers Inc., and Walworth.The global industrial valves market is expected to grow from $97.80 billion in 2022 to $102.99 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial valves market is expected to reach $120.65 billion in 2027 at a CAGR of 4.0%.The industrial valves consist of sales of quarter-turn valves, multi-turn valves, knife gate valves, and sluice gate valves.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Industrial valves are mechanical components that control the flow through pipes and other passages by opening, closing, and partially opening the vaults.They are used to control the flow of fluids, gases, and slurries.These manually controlled mechanical devices can be operated automatically.Asia-Pacific was the largest region in the industrial valves market in 2022. The regions covered in industrial valves report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of industrial valves are ball valves, check valves, butterfly valves, plug valves, globe valves, gate valves, diaphragm valves, and safety valves.A ball valve is a shutoff valve that regulates the movement of a liquid or gas using a rotating ball with a bore.The various functions include isolation, regulation, safety relief valve, special purpose, and non-return, which are made from various materials include ductile iron, carbon steel, plastic, brass, bronze, copper, aluminum, and others.The various accessories include a hydraulic filter, power cable, mounting screws and bolts, seal kits, dust protection cover, and others.These are used by various end-users such as chemicals, energy and power, oil and gas, water and wastewater treatment, building and constructions, paper and pulp, metal and mining, agriculture, semiconductor, and others.The rising number of oil and gas explorations is expected to propel the growth of the industrial valve market going forward.Oil and gas exploration refers to the procedures and techniques used to identify potential locations for drilling and extracting oil and gas.Industrial valves control the flow of oil and gas and manage the fluid flow by regulating the direction and controlling pressure. For instance, in December 2022, according to the U.S. Energy Information Administration, a US-based government agency, In the US, oil production was 11.2 million barrels per day in 2020 and increased to 11.6 million barrels per day in 2021. Furthermore, gas production was 112.6 billion cubic feet per day in 2020 and increased to 118.7 million barrels per day in 2021. Therefore, the rising number of oil and gas explorations is driving the growth of the industrial valve market.Product innovation is a key trend gaining popularity in the industrial valve markets.Major companies operating in the industrial valve are focused on developing innovative solutions to strengthen their position in the market.For instance, in December 2022, Emerson Electric Co., a US-based manufacturing company, introduced two new technological products called the Crosby J-Series pressure relief valves. The initial variant is a balance diaphragm valve, which minimizes the need for bellows in pressure-reducing valves while ensuring balanced operation against back pressure, lowering ownership costs and improving performance. The second technology is bellows leak detection, which allows for remote detection of bellows ruptures in pressure-reduction valves while simultaneously lowering and precisely calculating volumetric emissions.In April 2022, ITT Inc., a US-based manufacturing company that produces specialty components, acquired Habonim Industrial Valves & Actuators Ltd. for $140 million. With this acquisition, ITT Inc. aims to expand IP’s current specialty valve portfolio, including its cryogenic and hydrogen ball valve offerings for green energy applications, and access new, lucrative niche markets. Habonim Industrial Valves & Actuators Ltd. is an Israel-based manufacturing company that provides products such as cryogenic, high-pressure, metal-seated, and high-end ball valves and actuators.The countries covered in the industrial valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The industrial valves market research report is one of a series of new reports that provides industrial valves market statistics, including industrial valves industry global market size, regional shares, competitors with an industrial valves market share, detailed industrial valves market segments, market trends and opportunities, and any further data you may need to thrive in the industrial valves industry. This industrial valves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06463980/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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Industrial Valves Global Market Report 2023