According to IMARC Group’s latest report, titled “Industrial Valves Market: Global Industry Size, Share, Trends, Growth, Opportunity and Forecast 2021-2026”, the global industrial valves market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of 7.6% during 2021-2026.
Industrial valves are mechanical devices used to regulate the flow and pressure of liquids, gases, and slurries in a piping system. The major components of valves are body (or enclosure), bonnet, actuator, valve member and seat. Industrial valves assist in stopping the flow rate through the pipe whenever required, prevent flow return to the pressurized side and protect equipment from overpressure hazards. These valves are available in numerous types based on different sizes, designs, functions and operations. As a result, industrial valves are widely adopted across the chemical, pharmaceutical, water & wastewater treatment, food and beverage (F&B), power, and oil & gas sectors.
Rapid industrialization, along with the increasing automation in industrial processes, is currently bolstering the industrial valves market. Apart from this, the growing number of oil and gas (O&G) exploration activities in both onshore and offshore locations, is further propelling the demand for industrial valves. Additionally, continuous upgradations in nuclear power stations and petroleum refining plants for remote monitoring from a centralized locations are further augmenting the market growth. Moreover, the rising integration of industrial valves with smart water metering systems in water and wastewater treatment plants will continue to drive the global industrial valves market growth in the coming years.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industrial Valves Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the global industrial valves market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the industrial valves market on the basis of region, product type, functionality, material, size and end use industry.
Breakup by Product Type:
Breakup by Functionality:
Breakup by Material:
Breakup by Size:
Breakup by End Use Industry:
Breakup by Region:
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Key highlights of the report:
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