The industrial valve market is expected to reach US$ 125.59 billion by 2028 from US$ 78.18 billion in 2021; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.
APAC constitutes a large population and high per capita income, along with vast industrialization and increasing urbanization. Further, highly industrialized countries such as China, India, Japan, and South Korea are increasingly emphasizing the development of wastewater treatment facilities to tackle the issue of environment conservation. The region is also the largest consumer of crude oil and gas, which is another factor boosting the adoption of industrial valves.
The industrial valve market is segmented on the basis of material type, valve type, and industry. Based on material type, the market is segmented into cast iron, steel, cryogenic, alloy-based and others. Based on valve type, the industrial valve market is segmented into ball valve, butterfly valve, diaphragm valve, safety valve, and piston ram valve. On the basis of industry, the industrial valve market is segmented into oil & gas, water treatment, power & energy, chemical & petrochemical, food & beverage, healthcare & pharmaceutical, and others.
Valen Inc., Crane Co., Circor International, Emerson Electric Co., Flowserve Corporation, Kitz Corporation, Neway Valve (Suzhou) Co. Ltd., Spiral Sarco, Schlumberger Limited, and IMI PLC are among the key players operating in the global industrial valve market.
