Industrial Valves Market Size & Trends

The global industrial valves market size was valued at USD 76.2 billion in 2023 and is projected to grow at a CAGR of 4.4% from 2024 to 2030. Market growth is being driven by various factors, such as the construction of new power plants, the increasing use of industrial equipment, and the growing adoption of high-quality industrial valves. These factors play a crucial role in improving output and reducing losses.

Advancements in manufacturing techniques and material technology have facilitated the creation of valves that deliver efficient performance even in demanding pressure and temperature conditions. For instance, in December 2022, Emerson announced the introduction of new & advanced technologies for its Crosby J-Series pressure relief valves, the Bellows Leak Detection and Balanced Diaphragm. These technologies are likely to help reduce ownership costs and improve performance, further driving market growth.

Gather more insights about the market drivers, restrains and growth of the Industrial Valves market

In the case of large-scale power plants, the management of steam and water flow requires the deployment of numerous valves. As the construction of new nuclear plants and the modernization of existing ones is in progress, the demand for valves is steadily increasing. In December 2023, China's state council announced the approval of four new nuclear reactors in the country. The role of industrial valves in regulating the temperature and preventing the fuel from overheating is likely to help drive their demand and foster growth in the market.

Furthermore, the integrating of IoT sensors in industrial valves has facilitated real-time performance and operating conditions monitoring. As a result, predictive maintenance has become possible, leading to reduced downtime and enhanced operational efficiency. Utilizing IoT-enabled valves also contributed to improved safety and responsiveness through remote monitoring. This advancement enables proactive decision-making and efficient resource allocation, thereby driving demand across multiple sectors.

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Recent Developments

In October 2023, AVK Group acquired Bayard S.A.S, Talis Flow Control (Shanghai) Co. Ltd., Belgicast International S.L., and sales companies in Italy and Portugal. The acquisition is expected to help the company expand further.In October 2023, Burhani Engineers Ltd. introduced a valves testing and rehabilitation hub in Nairobi, Kenya. This hub is expected to help lower the repair and maintenance costs for existing valves in oil and gas, power, mining, and other industries.In June 2023, Flowserve Corporation introduced its Valtek Valdisk high-performance butterfly valve. This valves can be used for chemical plants, oil refineries, and other facilities that require control valves.

Key Companies profiled:

Some prominent players in the global Industrial Valves market include

Emerson Electric Co.Velan Inc.AVK WaterBEL Valves Limited.SLB.Flowserve Corporation.KLINGERGG Valves Private Limited(www.ggvalves.com.)LESER GmbH & Co. KG

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