世界各国のリアルタイムなデータ・インテリジェンスで皆様をお手伝い
産業用バルブの市場：タイプ別（ボール、バタフライ、グローブ、ゲート、ダイヤフラム、安全、チェック、プラグ）、材質別（スチール、鋳鉄、合金ベース、極低温、プラスチック、青銅、真鍮）、コンポーネント別（アクチュエータ、ポジショナー）、機能別 - 2028年までの世界予測Industrial Valves Market by Type (Ball, Butterfly, Globe, Gate, Diaphragm, Safety, Check, Plug), Material (Steel, Cast Iron, Alloy Based, Cryogenic, Plastic, Bronze, Brass), Component (Actuator, Positioner), Function - Global Forecast to 2028 産業用バルブの市場規模は、2023年の804億米ドルから2028年には998億米ドルに成長すると予測され、2023年から2028年までの年平均成長率は4.4％と予想されています。産業用バルブ市場の成長を促進する主な要因は、... もっと見る
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サマリー産業用バルブの市場規模は、2023年の804億米ドルから2028年には998億米ドルに成長すると予測され、2023年から2028年までの年平均成長率は4.4％と予想されています。産業用バルブ市場の成長を促進する主な要因は、IIoT統合型バルブの採用拡大、自動化ソリューションの採用に向けてプロセス産業の焦点が急速に変化していること、発電所の新設と既存発電所の改修の世界的ニーズ、バルブメーカーのメンテナンスとアフターマーケットサービスの充実に向けての焦点変更、旧式バルブの代替としてのスマートバルブの採用増加です。「安全弁は予測期間中に最も高いCAGRを記録する見込み」石油・ガス、エネルギー・電力、化学・石油化学、医薬品、金属・鉱業、水・廃水処理などの業界では、信頼性の高い安全弁が求められます。安全弁は、高温洗浄後の低温洗浄による真空状態や、空焚き時のガス供給の遮断により、パイプラインを爆縮から保護します。石油・ガス、化学、エネルギー・電力産業の重要なプロセスにおいて、過剰な圧力を解放し、機器や人を危険から守るために安全弁の使用が増加していることは、予測期間中の産業用安全弁市場の成長を促進すると考えられます。「アクチュエーターは予測期間中に最も高いCAGRを記録し、バルブボディは2番目に高いCAGRを記録すると予想される」空気圧アクチュエーターは、その信頼性とシンプルな設計により最も一般的に使用されているアクチュエーターであり、一般的に極度の温度を伴うアプリケーションで使用されます。空気圧で作動するピストンアクチュエータは、電気や油圧のアクチュエータよりも速く作動します。これらのアクチュエーターは、空気供給源がなく、低い周囲温度で空気供給ラインの凝縮水が凍結する可能性がある場合に有利に働きます。ヘビーデューティーなアプリケーションの場合、空気圧や電気式のアクチュエーターよりも油圧式のアクチュエーターが好まれます。バルブボディは、すべての内部部品を一緒に保持するため、バルブアセンブリの主要な要素である。ボディは最も大きな部品です。媒体はポート間のボディを流れ、他のすべての部品はボディに接続されています。「コントロールバルブは、ガス、蒸気、水、化学物質の温度、レベル、方向、圧力、流量などの重要なプロセス変数を必要な動作範囲内で自動的に調整するため、プロセス産業において重要な要素です。コントロールバルブは、過酷な条件に耐え、工業プラントの複数の生産プロセスの安全性と効率性を確保するように設計されています。これらの利点から、これらのバルブは石油・ガス、エネルギー・電力、石油化学、化学産業で使用されています。「プラスチックバルブは予測期間中に最も高いCAGRを記録し、極低温バルブは2番目に高いCAGRを記録すると予想される」高い耐久性と耐腐食性の能力により、プラスチックバルブは腐食性流体の流れの調整と監視を必要とするアプリケーションで好まれる。さらに、その高い不透過性により、長い耐用年数を実現しています。また、圧力損失が非常に小さいため、食品・飲料、化学、紙・パルプなどさまざまな産業で理想的なバルブです。極低温用バルブは、石油・ガス産業において、-238ºFから始まる極低温の環境で使用されます。酸素、窒素、アルゴン、天然ガス、水素、ヘリウムなどの液化ガス（-425°F/-253.9℃まで）の製造、輸送、貯蔵には、サービス条件、材料、圧力、温度定格、その他の技術的または環境的要件など、いくつかの特定の技術要件があります。このような要件から、極低温を安全に扱うための極低温材料が必要となり、液化天然ガス（LNG）や圧縮天然ガス（CNG）を扱う企業で最もよく使用されています。「50インチ以上のバルブは予測期間中に最も高いCAGRを記録すると予想される」化学、エネルギー＆電力、石油＆ガス産業における高圧・高温用途での50インチ以上のバルブの需要の高まりは、市場成長を促進すると考えられる。これらのバルブは、カスタム設計のクラス1,500mmと2,500mmの突合せ溶接エンドバルブを特徴とするため、リードタイムが長くなります。L&T (India)は、ゲートバルブ、Yグローブバルブ、スイングチェックバルブを提供しており、これらのサイズレンジでは高圧サービス用の圧力シールボンネットデザインを採用している。「紙・パルプ業界は予測期間中に最も高いCAGRを記録する見込み」 紙・パルプ業界では、プラグバルブ、Vポートボールバルブ、ナイフゲートバルブ、高性能バタフライバルブ、ロータリーコントロールバルブが、坪量制御、クリーナーとポンプの隔離、流量制御、真空制御、蒸気と復水の流量制御などの用途で使用されています。パルプ工程では、Vポートボールバルブや偏心プラグバルブなどが、蒸気含浸、蒸気排出、流量・圧力制御など、蒸気や化学物質を扱う用途に使用されます。トリムが硬化したバルブは、蒸気や化学物質を扱う用途に適している。したがって、産業用バルブは、紙・パルプ産業におけるいくつかの用途で重要な役割を果たし、その結果、同産業での採用が増加しています。「北米が予測期間中に最も高いCAGRを記録すると予想される」 米国における工業用バルブ市場の成長は、特に石油・ガスやエネルギー・電力産業など、大規模な産業基盤が主な要因である。同国におけるシェールオイルの発見や最近の石油・ガス産業の上昇傾向は、米国の石油・ガス産業への投資を増加させる主な理由となっています。米国のリグ数は今後3年間で増加すると言われており、これがオイル＆ガス産業における工業用バルブの需要を促進すると予想されています。しかし、既存の施設やサービスを近代化するための新たな投資が、米国における工業用バルブの需要増に貢献すると予想される。カナダでは、天然ガスプロジェクトへの投資により、ガス輸送のためのパイプラインネットワークが拡大しています。したがって、カナダの石油・ガス産業は、産業用バルブの膨大な需要を目撃する可能性があります。本レポートの主要参加者のプロファイルの内訳は以下の通りです：企業タイプ別：Tier 1 = 40%、Tier 2 = 35%、Tier 3 = 25% - 職種別：C-Lev：役職別：Cレベルエグゼクティブ＝40％、ディレクター＝35％、その他＝25％-地域別：地域別：北米＝30％、欧州＝25％、アジア太平洋＝35％、RoW＝10％ 産業用バルブ市場に参入している主要企業は、Emerson（米国）、Flowserve Corporation（米国）、Schlumberger Limited（米国）、Crane Co（スウェーデン）、Neles（フィンランド）、株式会社キッツ（日本）、IMI PLC（英国）、KSB SE & Co.KGaA（ドイツ）、Bray International（米国）、Spirax-Sarco Engineering PLC（英国）などがあります。調査対象：工業用バルブの世界市場に関する調査レポートは、タイプ、コンポーネント、機能、材料、サイズ、エンドユーザー産業、地域に基づいて市場をカバーしています。タイプに基づき、工業用バルブ市場は、ボールバルブ、バタフライバルブ、チェックバルブ、ゲートバルブ、グローブバルブ、プラグバルブ、ダイヤフラムバルブ、安全バルブに分離されます。コンポーネント別では、工業用バルブ市場は、アクチュエーター、バルブボディ、その他のコンポーネント（ポジショナー、I/Pコンバーター）に分類されます。機能別では、工業用バルブ市場はオン/オフと制御に区分される。材質別では、鋼、鋳鉄、合金系、極低温、プラスチック、その他の材質（青銅、真鍮）に分類されます。サイズに基づき、工業用バルブ市場は以下のように区分されます。<1”, 1” to 6”. 7” to 25”. 26” to 50”, and >50".産業用バルブ市場は、エンドユーザー産業に基づき、石油・ガス、水・廃水処理、エネルギー・電力、食品・飲料、金属・鉱業、化学、医薬品、建築・建設、パルプ・紙、農業、半導体、その他のエンドユーザー産業（繊維、ガラス）に区分される。本レポートは4つの主要地域を対象としています：北米、欧州、アジア太平洋（APAC）、および世界の残りの部分（RoW）：本レポートは、工業用バルブ市場を包括的にセグメント化し、全体的な市場規模だけでなく、タイプ、コンポーネント、機能、材料、サイズ、エンドユーザー産業、地域の異なるサブセグメントの市場規模を最も近似値で提供します。 本レポートは、市場の脈絡と予想される市場シナリオを関係者が理解するのに役立ち、主要な市場促進要因、阻害要因、課題、および機会に関する情報を提供します。目次1 INTRODUCTION 36 1.1 STUDY OBJECTIVES 36 1.2 MARKET DEFINITION 36 1.3 INCLUSIONS AND EXCLUSIONS 37 TABLE 1 INDUSTRIAL VALVES MARKET: INCLUSIONS AND EXCLUSIONS 37 1.4 STUDY SCOPE 38 1.4.1 MARKETS COVERED 38 FIGURE 1 INDUSTRIAL VALVES MARKET: SEGMENTATION 38 1.4.2 GEOGRAPHIC SCOPE 39 FIGURE 2 INDUSTRIAL VALVES MARKET: GEOGRAPHIC SEGMENTATION 39 1.4.3 YEARS CONSIDERED 39 1.5 CURRENCY CONSIDERED 40 1.6 LIMITATIONS 40 1.7 STAKEHOLDERS 40 1.8 SUMMARY OF CHANGES 41 2 RESEARCH METHODOLOGY 42 2.1 RESEARCH DATA 42 FIGURE 3 INDUSTRIAL VALVES MARKET: RESEARCH DESIGN 43 2.1.1 SECONDARY AND PRIMARY RESEARCH 45 2.1.2 SECONDARY DATA 45 2.1.2.1 Major secondary sources 45 2.1.2.2 Key data from secondary sources 46 2.1.3 PRIMARY DATA 46 2.1.3.1 Primary interviews with experts 46 2.1.3.2 Key data from primary sources 47 2.1.3.3 Key industry insights 47 2.1.3.4 Breakdown of primaries 48 2.2 MARKET SIZE ESTIMATION 48 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SALES OF INDUSTRIAL VALVES (2/2) 49 2.2.1 BOTTOM-UP APPROACH 50 2.2.1.1 Approach to arrive at market size through bottom-up analysis (demand side) 50 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 50 2.2.2 TOP-DOWN APPROACH 51 2.2.2.1 Approach to arrive at market size through top-down analysis (supply side) 51 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 51 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 52 FIGURE 7 DATA TRIANGULATION 52 2.4 RESEARCH ASSUMPTIONS 53 FIGURE 8 ASSUMPTIONS FOR RESEARCH STUDY 53 2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT 53 2.6 RESEARCH LIMITATIONS AND RISK ASSESSMENT 54 TABLE 2 LIMITATIONS AND ASSOCIATED RISKS 54 3 EXECUTIVE SUMMARY 55 FIGURE 9 CONTROL VALVES TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD 56 FIGURE 10 STEEL SEGMENT TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, THROUGHOUT FORECAST PERIOD 56 FIGURE 11 SAFETY VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 57 FIGURE 12 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET, BY COMPONENT, IN 2028 57 FIGURE 13 1” TO 6” SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY SIZE, IN 2028 58 FIGURE 14 ENERGY & POWER INDUSTRY TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 59 FIGURE 15 ASIA PACIFIC HELD LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2022 60 3.1 RECESSION IMPACT AT GLOBAL LEVEL 61 FIGURE 16 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES TILL 2023 61 FIGURE 17 IMPACT OF UPCOMING RECESSION ON GLOBAL INDUSTRIAL VALVES MARKET 61 4 PREMIUM INSIGHTS 63 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRIAL VALVES MARKET 63 FIGURE 18 INCREASED DEMAND FOR INDUSTRIAL VALVES FROM HEALTHCARE AND PHARMACEUTICAL INDUSTRIES TO PROVIDE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL VALVES MARKET 63 4.2 INDUSTRIAL VALVES MARKET, BY FUNCTION 63 FIGURE 19 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THAN CONTROL VALVES IN 2023 63 4.3 INDUSTRIAL VALVES MARKET, BY MATERIAL 64 FIGURE 20 PLASTIC VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 64 4.4 INDUSTRIAL VALVES MARKET, BY TYPE 64 FIGURE 21 GLOBE VALVES TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 64 4.5 INDUSTRIAL VALVES MARKET, BY COMPONENT 65 FIGURE 22 ACTUATORS TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 65 4.6 INDUSTRIAL VALVES MARKET, BY SIZE 65 FIGURE 23 >50” INDUSTRIAL VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 65 4.7 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 66 FIGURE 24 PAPER & PULP INDUSTRY TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 66 4.8 INDUSTRIAL VALVES MARKET, BY COUNTRY 67 FIGURE 25 US TO ACCOUNT FOR LARGEST SHARE OF GLOBAL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 67 5 MARKET OVERVIEW 68 5.1 INTRODUCTION 68 5.2 MARKET DYNAMICS 68 FIGURE 26 INDUSTRIAL VALVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 68 5.2.1 DRIVERS 69 5.2.1.1 Rising demand for valves from healthcare and pharmaceutical industries 69 5.2.1.2 Increasing need to establish new power plants and revamp existing ones 69 5.2.1.3 Rapid deployment of connected networks to monitor valve conditions and predict system failure 70 5.2.1.4 Shifting focus of process industries toward adoption of automation solutions 70 5.2.1.5 Establishment of smart cities globally 71 FIGURE 27 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF DRIVERS 72 5.2.2 RESTRAINTS 72 5.2.2.1 High capital investment and low profit margin due to varying valve standards across regions 72 5.2.2.2 Customer dissatisfaction owing to higher lead time and late order delivery 73 FIGURE 28 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF RESTRAINTS 73 5.2.3 OPPORTUNITIES 73 5.2.3.1 Integration of industrial valves with IIoT and Industry 4.0 73 5.2.3.2 Rising demand for AI-integrated valves for intelligent water supply 74 5.2.3.3 Use of 3D printing technique to manufacture industrial valves 75 5.2.3.4 Thriving petrochemical industry with growing demand for fuel 75 5.2.3.5 Shifting focus of valve manufacturers toward better maintenance and aftermarket services 76 5.2.3.6 Increasing adoption of smart valves as replacement for outdated valves 76 FIGURE 29 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 77 5.2.4 CHALLENGES 78 5.2.4.1 Focus of valve manufacturers on acquisitions affecting profit margins and cash flow 78 5.2.4.2 Fierce competition owing to reduced product differentiation 78 5.2.4.3 Unplanned downtime due to malfunctioning and failure of valves 78 5.2.4.4 High cost of valve manufacturing 79 FIGURE 30 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF CHALLENGES 79 5.3 VALUE CHAIN ANALYSIS 79 FIGURE 31 INDUSTRIAL VALVES MARKET: VALUE CHAIN ANALYSIS 80 5.4 ECOSYSTEM MAPPING 81 FIGURE 32 INDUSTRIAL VALVES MARKET: ECOSYSTEM ANALYSIS 81 TABLE 3 COMPANIES AND THEIR ROLE IN INDUSTRIAL VALVES ECOSYSTEM 81 5.5 PRICING ANALYSIS 83 5.5.1 COMPANY-WISE AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY TYPE 83 TABLE 4 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY TOP COMPANIES, 2023 83 FIGURE 33 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY KEY PLAYERS, BY TYPE (USD) 84 TABLE 5 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY THREE GLOBAL MARKET PLAYERS, BY TYPE 84 TABLE 6 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY REGION 84 FIGURE 34 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, 2019–2028 85 5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85 FIGURE 35 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85 5.7 TECHNOLOGY ANALYSIS 86 5.7.1 DIGITALIZATION AND ARTIFICIAL INTELLIGENCE 86 5.7.2 INDUSTRIAL INTERNET OF THINGS (IIOT) 86 5.7.3 VALVE CONDITION MONITORING 87 5.8 PORTER’S FIVE FORCES ANALYSIS 88 FIGURE 36 INDUSTRIAL VALVES MARKET: PORTER’S FIVE FORCES ANALYSIS 88 5.8.1 BARGAINING POWER OF SUPPLIERS 88 5.8.2 BARGAINING POWER OF BUYERS 88 5.8.3 THREAT OF NEW ENTRANTS 89 5.8.4 THREAT OF SUBSTITUTES 89 5.8.5 INTENSITY OF COMPETITIVE RIVALRY 89 5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 90 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 90 FIGURE 37 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS 90 TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS (%) 90 5.9.2 BUYING CRITERIA 91 FIGURE 38 KEY BUYING CRITERIA OF TOP 3 END-USER INDUSTRIES 91 TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES 91 5.10 CASE STUDY ANALYSIS 91 TABLE 9 SEVERSTAL ADOPTED EMERSON’S FISHER CONTROL-DISK BUTTERFLY VALVES TO REDUCE WATER USAGE 91 TABLE 10 KRUGER, INC. NEWSPRINT MILL DEPLOYED FISHER CONTROL-DISK’S VALVES TO REDUCE FLOW VARIABILITY AND SAVE MAINTENANCE COSTS 92 TABLE 11 BRAY INTERNATIONAL’S KNIFE GATE VALVE OFFERED INCREASED UPTIME OF HYDROCLONE APPLICATION AND REDUCED PRODUCTION LOSS 92 TABLE 12 STADTENTWÄSSERUNG HANNOVER SIGNED CONTRACT WITH KSB SE & CO. KGAA FOR COMPLETE REPAIR AND REFURBISHMENT OF ITS WASTEWATER PUMPING STATION 92 5.11 TRADE ANALYSIS 93 FIGURE 39 IMPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017–2021 (USD MILLION) 93 FIGURE 40 EXPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017–2021 (USD MILLION) 94 5.12 PATENT ANALYSIS 94 FIGURE 41 NUMBER OF PATENTS GRANTED EVERY YEAR FROM 2013 TO 2022 94 FIGURE 42 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 95 TABLE 13 TOP 20 PATENT OWNERS IN LAST 10 YEARS 95 5.12.1 LIST OF MAJOR PATENTS 96 TABLE 14 KEY PATENTS PERTAINING TO INDUSTRIAL VALVES 96 5.13 KEY CONFERENCES AND EVENTS, 2023–2024 97 TABLE 15 INDUSTRIAL VALVES MARKET: REGION-WISE CONFERENCES AND EVENTS 97 5.14 REGULATIONS AND STANDARDS 97 5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97 TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97 TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98 TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98 TABLE 19 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 99 5.14.2 STANDARDS 99 TABLE 20 STANDARDS FOLLOWED BY MANUFACTURERS OF INDUSTRIAL VALVES 99 6 INDUSTRIAL VALVES MARKET, BY TYPE 101 6.1 INTRODUCTION 102 FIGURE 43 INDUSTRIAL VALVES MARKET, BY VALVE TYPE 102 FIGURE 44 GLOBE VALVES TO LEAD MARKET THROUGHOUT FORECAST PERIOD 102 TABLE 21 INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 103 TABLE 22 INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 103 6.2 BALL VALVES 104 6.2.1 TIGHT SEALING AND LOW OPERATING TORQUE TO DRIVE DEMAND FOR BALL VALVES 104 TABLE 23 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 105 TABLE 24 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 105 6.2.1.1 Trunnion-mounted ball valves 106 6.2.1.1.1 Suitable for pipelines requiring high pressure 106 6.2.1.2 Floating ball valves 106 6.2.1.2.1 Bi-directional sealing enables free movement of ball to halt media flowing in any direction 106 6.2.1.3 Rising stem ball valves 106 6.2.1.3.1 Designed for quick shutoff applications in chemical plants 106 6.3 BUTTERFLY VALVES 107 6.3.1 LOW PRESSURE DROP AND COST-EFFECTIVENESS TO BOOST DEMAND FOR BUTTERFLY VALVES 107 TABLE 25 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 107 TABLE 26 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 108 6.3.1.1 Zero-offset butterfly valves 108 6.3.1.1.1 Suitable for basic and specialty liquid and gas applications up to 200 PSI and 400°F 108 6.3.1.2 Double-offset butterfly valves 109 6.3.1.2.1 Widely adopted by energy & power, pulp & paper, HVAC, chemical, oil & gas, and water & wastewater treatment industries 109 6.3.1.3 Triple-offset butterfly valves 109 6.3.1.3.1 Function effectively in tight shutoff applications 109 6.4 CHECK VALVES 109 6.4.1 ABILITY TO PREVENT REVERSAL PIPELINE FLOW TO STIMULATE DEMAND FOR CHECK VALVES 109 TABLE 27 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 110 TABLE 28 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 111 6.5 DIAPHRAGM VALVES 111 6.5.1 ABILITY TO HANDLE CORROSIVE FLUIDS, FIBROUS SLURRIES, AND RADIOACTIVE FLUIDS TO INCREASE REQUIREMENT FOR DIAPHRAGM VALVES 111 TABLE 29 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 112 TABLE 30 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 112 6.6 GATE VALVES 113 6.6.1 EASY FLOW OF MEDIA DUE TO UNOBSTRUCTED PASSAGEWAY TO BOOST DEMAND FOR GATE VALVES IN OIL & GAS AND PETROCHEMICAL APPLICATIONS 113 TABLE 31 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 114 TABLE 32 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 114 6.6.1.1 Standard plate gate valves 115 6.6.1.1.1 Appropriate for transporting dry solids, granules, and powders 115 6.6.1.2 Wedge-type gate valves 115 6.6.1.2.1 Designed to handle flow of low-viscosity fluids 115 6.6.1.3 Knife gate valves 115 6.6.1.3.1 Preferred to handle slurries, as well as viscous, corrosive, and abrasive media 115 6.7 GLOBE VALVES 116 6.7.1 DEPLOYMENT IN HIGH-PRESSURE SYSTEMS TO CONTRIBUTE TO SEGMENTAL GROWTH 116 TABLE 33 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 116 TABLE 34 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 117 6.8 PLUG VALVES 117 6.8.1 EASY SEALING AND ISOLATION ABILITIES TO BOOST ADOPTION OF PLUG VALVES IN WASTEWATER TREATMENT PLANTS 117 TABLE 35 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 118 TABLE 36 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 118 6.9 SAFETY VALVES 119 6.9.1 RISING DEMAND FROM OIL & GAS, ENERGY & POWER, AND CHEMICAL INDUSTRIES TO PROPEL SEGMENTAL GROWTH 119 TABLE 37 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 119 TABLE 38 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 120 7 INDUSTRIAL VALVES MARKET, BY COMPONENT 121 7.1 INTRODUCTION 122 FIGURE 45 INDUSTRIAL VALVES MARKET, BY COMPONENT 122 FIGURE 46 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 122 TABLE 39 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 122 TABLE 40 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 123 7.2 ACTUATORS 123 7.2.1 FOCUS ON REDUCING MAINTENANCE COST, INCREASING UPTIME, AND ENHANCING PLANT SAFETY TO DRIVE DEMAND FOR ACTUATORS 123 7.2.2 PNEUMATIC ACTUATORS 123 7.2.2.1 Diaphragm actuators 123 7.2.2.1.1 Suitable for control valves used in oil & gas industry 123 7.2.2.2 Piston actuators 123 7.2.2.2.1 Designed for butterfly valves used in food, chemical, and pharmaceutical industries 123 7.2.3 ELECTRIC ACTUATORS 124 7.2.3.1 Wide use in water & wastewater treatment and chemical plants to boost segmental growth 124 7.2.4 HYDRAULIC ACTUATORS 124 7.2.4.1 Integration of hydraulic actuators in HVAC, fire protection, and irrigation systems to propel growth 124 TABLE 41 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 124 TABLE 42 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 124 7.3 VALVE BODY 125 7.3.1 RISING DEMAND FOR VALVE BODIES FEATURING HIGH CORROSION RESISTANCE AND BETTER CHEMICAL COMPATIBILITY TO SUPPORT SEGMENTAL GROWTH 125 7.4 OTHER COMPONENTS 125 8 INDUSTRIAL VALVES MARKET, BY FUNCTION 126 8.1 INTRODUCTION 127 FIGURE 47 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD 127 TABLE 43 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2019–2022 (USD MILLION) 127 TABLE 44 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2023–2028 (USD MILLION) 128 8.2 ON/OFF 128 8.2.1 USE OF ON/OFF VALVES IN THROTTLING APPLICATIONS 128 8.3 CONTROL 129 8.3.1 IMPLEMENTATION OF CONTROL VALVES TO CONTROL TEMPERATURE, FLOW, AND PRESSURE IN INDUSTRIAL PROCESSES 129 9 INDUSTRIAL VALVES MARKET, BY MATERIAL 130 9.1 INTRODUCTION 131 FIGURE 48 INDUSTRIAL VALVES MARKET, BY MATERIAL 131 FIGURE 49 STEEL SEGMENT TO HOLD LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, IN 2023 132 TABLE 45 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 132 TABLE 46 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 132 9.2 STEEL 133 9.2.1 RESISTANCE TO STRESS CORROSION CRACKING TO BOOST DEMAND FOR STEEL VALVES 133 9.3 CAST IRON 134 9.3.1 INCREASING USE OF CAST IRON VALVES IN WATER & WASTEWATER TREATMENT AND HYDROELECTRIC POWER PLANTS TO DRIVE MARKET 134 9.4 ALLOY BASED 134 9.4.1 RISING DEMAND FOR ALLOY-BASED VALVES TO RESOLVE PRESSURE-, TEMPERATURE-, AND CORROSION-RELATED ISSUES DURING PRODUCTION TO FUEL MARKET GROWTH 134 9.5 CRYOGENIC 135 9.5.1 INCREASING ADOPTION OF CRYOGENIC VALVES IN OIL & GAS INDUSTRY TO REGULATE LIQUIFIED GASES TO FUEL MARKET GROWTH 135 9.6 PLASTIC 136 9.6.1 HIGH DURABILITY AND ENHANCED CORROSION RESISTANCE OF PLASTIC VALVES TO DRIVE DEMAND 136 9.7 OTHER MATERIALS 136 9.7.1 BRONZE 136 9.7.2 BRASS 136 10 INDUSTRIAL VALVES MARKET, BY SIZE 137 10.1 INTRODUCTION 138 FIGURE 50 INDUSTRIAL VALVES MARKET, BY SIZE 139 FIGURE 51 1” TO 6” SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD 139 TABLE 47 INDUSTRIAL VALVES MARKET, BY SIZE, 2019–2022 (USD MILLION) 140 TABLE 48 INDUSTRIAL VALVES MARKET, BY SIZE, 2023–2028 (USD MILLION) 140 10.2 <1” 141 10.2.1 INCREASING NEED FOR <1” VALVES FOR PRECISE FLUID CONTROL TO DRIVE MARKET 141 10.3 1” TO 6” 141 10.3.1 RISING ADOPTION OF 1” TO 6” VALVES IN OIL & GAS AND CHEMICAL INDUSTRIES TO BOOST MARKET 141 10.4 7” TO 25” 141 10.4.1 INCREASING ADOPTION OF 7” TO 25” VALVES IN OIL & GAS, WATER & WASTEWATER TREATMENT, AGRICULTURE, AND MINING APPLICATIONS TO CREATE OPPORTUNITIES FOR VALVE PROVIDERS 141 10.5 26” TO 50” 142 10.5.1 GROWING NEED FOR VALVES THAT REMAIN FUNCTIONAL IN HIGH-TEMPERATURE AND HIGH-PRESSURE ENVIRONMENTS TO PROPEL MARKET 142 10.6 >50” 142 10.6.1 OIL & GAS, POWER, AND PETROCHEMICAL INDUSTRIES TO CONTRIBUTE TO MARKET GROWTH 142 11 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 143 11.1 INTRODUCTION 144 FIGURE 52 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 144 FIGURE 53 ENERGY & POWER INDUSTRY TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2028 145 TABLE 49 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 145 TABLE 50 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 146 11.2 OIL & GAS 147 11.2.1 STEADY RECOVERY OF OIL & GAS INDUSTRY TO FOSTER DEMAND FOR INDUSTRIAL VALVES 147 TABLE 51 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 148 TABLE 52 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 148 TABLE 53 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 148 TABLE 54 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 149 11.3 WATER & WASTEWATER TREATMENT 149 11.3.1 INCREASING INVESTMENTS IN ESTABLISHING WATER TREATMENT PLANTS TO DRIVE MARKET 149 TABLE 55 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 150 TABLE 56 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 150 TABLE 57 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 150 TABLE 58 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 151 11.4 ENERGY & POWER 151 11.4.1 INCREASING ENERGY DEMAND IN DEVELOPING COUNTRIES TO BOOST MARKET 151 TABLE 59 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 152 TABLE 60 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 152 TABLE 61 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 152 TABLE 62 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 153 11.5 PHARMACEUTICAL 153 11.5.1 AUTOMATION IN PHARMA COMPANIES TO REDUCE DRUG SHORTAGE RISK TO INCREASE DEMAND FOR INDUSTRIAL VALVES 153 TABLE 63 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 154 TABLE 64 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 154 TABLE 65 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 154 TABLE 66 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 155 11.6 FOOD & BEVERAGE 155 11.6.1 RISING NEED TO IMPROVE PROCESS EFFICIENCY TO DRIVE MARKET 155 TABLE 67 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 156 TABLE 68 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 156 TABLE 69 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 156 TABLE 70 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 157 11.7 CHEMICAL 157 11.7.1 NEED TO COMPLY WITH STRINGENT SAFETY STANDARDS TO BOOST DEMAND 157 TABLE 71 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 158 TABLE 72 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 158 TABLE 73 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 158 TABLE 74 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 159 11.8 BUILDING & CONSTRUCTION 159 11.8.1 RISING APPLICATIONS OF VALVES IN BUILDING & CONSTRUCTION INDUSTRY TO DRIVE DEMAND 159 TABLE 75 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 160 TABLE 76 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 160 TABLE 77 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 160 TABLE 78 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 161 11.9 PAPER & PULP 161 11.9.1 INCREASING USE OF INDUSTRIAL VALVES IN REPULPING AND RECYCLING APPLICATIONS TO SUPPORT MARKET GROWTH 161 TABLE 79 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 162 TABLE 80 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 162 TABLE 81 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 163 TABLE 82 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 163 11.10 METAL & MINING 164 11.10.1 GROWING DEMAND FOR PREDICTIVE MAINTENANCE TO DRIVE MARKET 164 TABLE 83 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 165 TABLE 84 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 165 TABLE 85 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 165 TABLE 86 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 166 11.11 AGRICULTURE 166 11.11.1 SURGING USE OF INDUSTRIAL VALVES IN IRRIGATION APPLICATIONS TO SPUR DEMAND 166 TABLE 87 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 166 TABLE 88 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 167 TABLE 89 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 167 TABLE 90 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 167 11.12 SEMICONDUCTOR 168 11.12.1 NECESSITY TO OPTIMIZE ATOMIC LAYER DEPOSITION PROCESSES IN SEMICONDUCTOR MANUFACTURING TO DRIVE DEMAND 168 TABLE 91 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 168 TABLE 92 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 168 TABLE 93 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 169 TABLE 94 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 169 11.13 OTHER END-USER INDUSTRIES 169 TABLE 95 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 170 TABLE 96 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 170 TABLE 97 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 170 TABLE 98 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 171 12 INDUSTRIAL VALVES MARKET, BY REGION 172 12.1 INTRODUCTION 173 FIGURE 54 US TO REGISTER HIGHEST CAGR IN OVERALL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 173 FIGURE 55 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 174 TABLE 99 INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 174 TABLE 100 INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 174 12.2 NORTH AMERICA 175 FIGURE 56 NORTH AMERICA: SNAPSHOT OF INDUSTRIAL VALVES MARKET 176 FIGURE 57 US TO REGISTER HIGHEST CAGR IN NORTH AMERICAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 177 TABLE 101 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 177 TABLE 102 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 177 TABLE 103 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 178 TABLE 104 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 178 12.2.1 US 179 12.2.1.1 Aging water & wastewater infrastructure in US to accelerate market growth 179 12.2.2 CANADA 180 12.2.2.1 Rising adoption of valves in oil & gas sector to contribute to market growth 180 12.2.3 MEXICO 180 12.2.3.1 Thriving semiconductor industry to boost growth 180 12.3 EUROPE 181 FIGURE 58 EUROPE: SNAPSHOT OF INDUSTRIAL VALVES MARKET 182 FIGURE 59 GERMANY TO REGISTER HIGHEST CAGR IN EUROPEAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 183 TABLE 105 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 183 TABLE 106 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 183 TABLE 107 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 184 TABLE 108 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 184 12.3.1 UK 185 12.3.1.1 Water industry to propel demand for control valves 185 12.3.2 GERMANY 185 12.3.2.1 Rising adoption of industrial valves by process industries to stimulate market growth 185 12.3.3 FRANCE 185 12.3.3.1 Ongoing nuclear and chemical projects to boost demand 185 12.3.4 ITALY 186 12.3.4.1 Investments in refurbishing and retrofitting water & wastewater treatment plants to support market growth 186 12.3.5 REST OF EUROPE 186 12.4 ASIA PACIFIC 187 FIGURE 60 ASIA PACIFIC: INDUSTRIAL VALVES MARKET SNAPSHOT 188 FIGURE 61 SOUTH KOREA TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET IN ASIA PACIFIC DURING FORECAST PERIOD 189 TABLE 109 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 189 TABLE 110 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 189 TABLE 111 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 190 TABLE 112 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 190 12.4.1 CHINA 191 12.4.1.1 Booming pharmaceutical industry to promote demand for industrial valves 191 12.4.2 JAPAN 191 12.4.2.1 Increasing focus on renewable energy projects to boost requirement for industrial valves 191 12.4.3 INDIA 191 12.4.3.1 Oil and gas exploration activities to fuel market growth 191 12.4.4 SOUTH KOREA 192 12.4.4.1 Presence of leading chemical companies to accelerate demand for industrial valves 192 12.4.5 REST OF ASIA PACIFIC 192 12.5 REST OF THE WORLD (ROW) 192 FIGURE 62 MIDDLE EAST TO DOMINATE INDUSTRIAL VALVES MARKET IN ROW DURING FORECAST PERIOD 193 TABLE 113 ROW: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 193 TABLE 114 ROW: INDUSTRIAL VALVES MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION) 193 TABLE 115 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 194 TABLE 116 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 194 12.5.1 MIDDLE EAST 195 12.5.1.1 Booming oil & gas and chemical industries to increase demand for industrial valves 195 TABLE 117 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 195 TABLE 118 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 195 12.5.2 SOUTH AMERICA 196 12.5.2.1 Thriving petrochemical and mining industries to contribute to market growth 196 12.5.3 AFRICA 196 12.5.3.1 Increasing investments in improving water management infrastructure to generate opportunities for valve manufacturers 196 13 COMPETITIVE LANDSCAPE 197 13.1 OVERVIEW 197 13.1.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN INDUSTRIAL VALVES MARKET 197 13.2 REVENUE ANALYSIS OF TOP 5 PLAYERS 199 FIGURE 63 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 199 13.3 MARKET SHARE ANALYSIS, 2022 199 TABLE 119 INDUSTRIAL VALVES MARKET: MARKET SHARE OF KEY COMPANIES 200 FIGURE 64 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 200 13.4 COMPANY EVALUATION QUADRANT 202 13.4.1 STARS 202 13.4.2 EMERGING LEADERS 203 13.4.3 PERVASIVE PLAYERS 203 13.4.4 PARTICIPANTS 203 FIGURE 65 INDUSTRIAL VALVES MARKET (GLOBAL): COMPANY EVALUATION QUADRANT, 2022 203 13.5 SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION QUADRANT, 2022 204 13.5.1 PROGRESSIVE COMPANIES 204 13.5.2 RESPONSIVE COMPANIES 204 13.5.3 DYNAMIC COMPANIES 204 13.5.4 STARTING BLOCKS 204 FIGURE 66 INDUSTRIAL VALVES MARKET (GLOBAL): SMES EVALUATION QUADRANT, 2022 205 13.6 COMPANY FOOTPRINT 206 TABLE 120 COMPANY FOOTPRINT 206 TABLE 121 END-USER INDUSTRY: COMPANY FOOTPRINT 207 TABLE 122 TYPE: COMPANY FOOTPRINT 208 TABLE 123 REGION: COMPANY FOOTPRINT 209 13.7 COMPETITIVE BENCHMARKING 210 TABLE 124 INDUSTRIAL VALVES MARKET: DETAILED LIST OF KEY STARTUPS/SMES 210 TABLE 125 INDUSTRIAL VALVES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 211 13.8 COMPETITIVE SITUATIONS AND TRENDS 213 13.8.1 PRODUCT LAUNCHES 213 TABLE 126 INDUSTRIAL VALVES MARKET: PRODUCT LAUNCHES, APRIL 2021–DECEMBER 2022 213 13.8.2 DEALS 215 TABLE 127 INDUSTRIAL VALVES MARKET: DEALS, JUNE 2021–NOVEMBER 2022 215 13.8.3 OTHERS 217 TABLE 128 INDUSTRIAL VALVES MARKET: OTHERS, FEBRUARY 2022–NOVEMBER 2022 217
SummaryThe industrial valves market size is expected to grow from USD 80.4 billion in 2023 to USD 99.8 billion by 2028; it is expected to grow at a CAGR of 4.4% from 2023 to 2028. The key factors driving the growth of the industrial valves market are the growing adoption of IIoT-integrated valves, the rapidly shifting focus of process industries towards adoption of automation solutions, the global need for establishment of new power plants and revamping of existing ones, the changing focus of valve manufacturers towards better maintenance and aftermarket services, and the increasing adoption of smart valves as replacement for outdated valves. “Safety valves are expected to register the highest CAGR during the forecast period” Industries such as oil & gas, energy & power, chemical & petrochemical, pharmaceutical, metal & mining, and water & wastewater treatment require highly reliable safety valves. Safety valves protect the pipeline against implosion due to the vacuum caused by cold rinsing after hot cleaning or blocking the gas supply during emptying. The increasing use of safety valves in critical processes in oil & gas, chemical, energy & power industries to release excess pressure and protect equipment and people from harm would drive the growth of the industrial safety valves market during the forecast period. “Actuators are expected to register the highest CAGR during the forecast period and valve body are expected to register the second highest CAGR” Pneumatic actuators, the most commonly used actuators due to their reliability and simple design, are typically used in applications involving extreme temperatures. Pneumatically operated piston actuators work faster than electric and hydraulic actuators. These actuators are advantageous when no air supply source is available, and low ambient temperatures could freeze the condensed water in pneumatic supply lines. In the case of heavy-duty applications, hydraulic actuators are preferred over pneumatic and electric actuators. The valve body is the main element of a valve assembly, as it holds all the internal parts together. The body is the largest component. Media flows through the body between the ports, and all other components are connected to the body. “Control segment is expected to register the higher CAGR during the forecast period” A control valve is an important element in process industries as it automatically regulates important process variables, including temperature, level, direction, pressure, and flow rate of gas, steam, water, and chemical compounds within a required operating range. Control valves are designed to withstand harsh conditions and ensure the safety and efficiency of multiple production processes in an industrial plant. Due to these benefits, these valves are used in oil & gas, energy & power, petrochemical, and chemical industries. “Plastic valves are expected to register the highest CAGR during the forecast period and cryogenic valves are expected to register the second highest CAGR” Owing to their high durability and corrosion resistance capabilities, plastic valves are preferred in applications that require regulating and monitoring of flow of corrosive fluids. In addition, due to their high impermeability feature, they offer long service life. Also, plastic valves offer very low-pressure drops, making them ideal for various industries such as food & beverage, chemical, and paper & pulp. Cryogenic valves are used in the oil & gas industry at cryogenic temperatures starting from -238ºF. Production, transport, and storage of liquefied gases such as oxygen, nitrogen, argon, natural gas, hydrogen, or helium (down to -425°F/-253.9ºC) present several specific technical requirements, such as service conditions; material, pressure, and temperature ratings; and other technical or environmental requirements. Such requirements generate the need for cryogenic materials to handle cryogenic temperatures safely, which are most popularly used by companies that work with liquefied natural gas (LNG) or compressed natural gas (CNG). “Valves in the size range of >50” are expected to register the highest CAGR during the forecast period” The rising demand for >50” valves in high-pressure and high-temperature applications in the chemical, energy & power, and oil & gas industries is likely to propel market growth. These valves have longer lead times, as they feature custom-designed class 1,500 mm and 2,500 mm butt-welding end valves. L&T (India) offers gate, Y-globe, and swing check valves, which feature a pressure seal bonnet design for high-pressure services in these size ranges. “Paper & pulp industry is expected to register the highest CAGR during the forecast period” In paper & pulp industry, plug valves, V-port ball valves, knife gate valves, high-performance butterfly valves, and rotary control valves are used in applications such as basis weight control, cleaner and pump isolation, flow-level control, vacuum control, and steam and condensate flow control. For the pulping process, V-port ball valves and eccentric plug valves, among others, are used for steam and chemical handling applications such as steam impregnation, steam venting, and flow and pressure control. Valves with hardened trim are well-suited for steam and chemical handling applications. Therefore, industrial valves play a vital role across several applications in the paper & pulp industry, which in turn propels their increasing adoption in the industry. “North America is expected to register the highest CAGR during forecast period” The growth of the industrial valves market in the US is mainly driven by the large industrial base, particularly the oil & gas and energy & power industries. Discovery of shale oil in the country and recent uptrends in the oil & gas industry are the major reasons for the increasing investments in the US oil & gas industry. The US rig count is set to increase over the next three years, which is expected to drive the demand for industrial valves in the oil & gas industry. In the US, the water & wastewater treatment industry is facing the challenge of aging infrastructure However, fresh investments in the industry for modernizing the existing facilities and services are expected to contribute to the rise in the demand for industrial valves in the US. In Canada, investments in natural gas projects have resulted in the expansion of the pipeline network for gas transportation. Hence, the oil & gas industry in Canada is likely to witness a huge demand for industrial valves. The break-up of the profiles of primary participants for the report has been given below: • By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25% • By Designation: C-Level Executives = 40%, Directors = 35%, and Others= 25% • By Region: North America = 30%, Europe = 25%, Asia Pacific = 35%, and RoW = 10% Major players operating in the industrial valves market include Emerson (US), Flowserve Corporation (US), Schlumberger Limited (US), Crane Co. (Sweden), Neles (Finland), KITZ Corporation (Japan), IMI PLC (UK), KSB SE & Co. KGaA (Germany), Bray International (US), and Spirax-Sarco Engineering PLC (UK), among others. Research Coverage: The research report on the global industrial valves market covers the market based on type, component, function, material, size, end-user industry, and region. Based on type, the industrial valves market is segregated into ball, butterfly, check, gate, globe, plug, diaphragm, and safety valves. Based on component, the industrial valves market is segmented into actuators, valve body, and other components (positioners and I/P converters). Based on function, the industrial valves market is segmented into on/off and control. Based on material, the industrial valves market is segmented into steel, cast iron, alloy-based, cryogenic, plastic, and other materials (bronze and brass). Based on size, the industrial valves market is segmented into <1”, 1” to 6”. 7” to 25”. 26” to 50”, and >50”. Based on end-user industry, the industrial valves market is segmented into segmented into oil & gas, water & wastewater treatment, energy & power, food & beverage, metal & mining, chemical, pharmaceutical, building & construction, pulp & paper, agriculture, semiconductor, and other end-user indsutries (textile and glass). The report covers four major regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Key Benefits of Buying the Report: This report segments the industrial valves market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different types, components, functions, materials, sizes, end-user industries, and regions. The report helps stakeholders understand the market's pulse and expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.Table of Contents1 INTRODUCTION 36 1.1 STUDY OBJECTIVES 36 1.2 MARKET DEFINITION 36 1.3 INCLUSIONS AND EXCLUSIONS 37 TABLE 1 INDUSTRIAL VALVES MARKET: INCLUSIONS AND EXCLUSIONS 37 1.4 STUDY SCOPE 38 1.4.1 MARKETS COVERED 38 FIGURE 1 INDUSTRIAL VALVES MARKET: SEGMENTATION 38 1.4.2 GEOGRAPHIC SCOPE 39 FIGURE 2 INDUSTRIAL VALVES MARKET: GEOGRAPHIC SEGMENTATION 39 1.4.3 YEARS CONSIDERED 39 1.5 CURRENCY CONSIDERED 40 1.6 LIMITATIONS 40 1.7 STAKEHOLDERS 40 1.8 SUMMARY OF CHANGES 41 2 RESEARCH METHODOLOGY 42 2.1 RESEARCH DATA 42 FIGURE 3 INDUSTRIAL VALVES MARKET: RESEARCH DESIGN 43 2.1.1 SECONDARY AND PRIMARY RESEARCH 45 2.1.2 SECONDARY DATA 45 2.1.2.1 Major secondary sources 45 2.1.2.2 Key data from secondary sources 46 2.1.3 PRIMARY DATA 46 2.1.3.1 Primary interviews with experts 46 2.1.3.2 Key data from primary sources 47 2.1.3.3 Key industry insights 47 2.1.3.4 Breakdown of primaries 48 2.2 MARKET SIZE ESTIMATION 48 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SALES OF INDUSTRIAL VALVES (2/2) 49 2.2.1 BOTTOM-UP APPROACH 50 2.2.1.1 Approach to arrive at market size through bottom-up analysis (demand side) 50 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 50 2.2.2 TOP-DOWN APPROACH 51 2.2.2.1 Approach to arrive at market size through top-down analysis (supply side) 51 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 51 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 52 FIGURE 7 DATA TRIANGULATION 52 2.4 RESEARCH ASSUMPTIONS 53 FIGURE 8 ASSUMPTIONS FOR RESEARCH STUDY 53 2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT 53 2.6 RESEARCH LIMITATIONS AND RISK ASSESSMENT 54 TABLE 2 LIMITATIONS AND ASSOCIATED RISKS 54 3 EXECUTIVE SUMMARY 55 FIGURE 9 CONTROL VALVES TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD 56 FIGURE 10 STEEL SEGMENT TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, THROUGHOUT FORECAST PERIOD 56 FIGURE 11 SAFETY VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 57 FIGURE 12 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET, BY COMPONENT, IN 2028 57 FIGURE 13 1” TO 6” SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY SIZE, IN 2028 58 FIGURE 14 ENERGY & POWER INDUSTRY TO CAPTURE LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 59 FIGURE 15 ASIA PACIFIC HELD LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2022 60 3.1 RECESSION IMPACT AT GLOBAL LEVEL 61 FIGURE 16 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES TILL 2023 61 FIGURE 17 IMPACT OF UPCOMING RECESSION ON GLOBAL INDUSTRIAL VALVES MARKET 61 4 PREMIUM INSIGHTS 63 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRIAL VALVES MARKET 63 FIGURE 18 INCREASED DEMAND FOR INDUSTRIAL VALVES FROM HEALTHCARE AND PHARMACEUTICAL INDUSTRIES TO PROVIDE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL VALVES MARKET 63 4.2 INDUSTRIAL VALVES MARKET, BY FUNCTION 63 FIGURE 19 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THAN CONTROL VALVES IN 2023 63 4.3 INDUSTRIAL VALVES MARKET, BY MATERIAL 64 FIGURE 20 PLASTIC VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 64 4.4 INDUSTRIAL VALVES MARKET, BY TYPE 64 FIGURE 21 GLOBE VALVES TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 64 4.5 INDUSTRIAL VALVES MARKET, BY COMPONENT 65 FIGURE 22 ACTUATORS TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 65 4.6 INDUSTRIAL VALVES MARKET, BY SIZE 65 FIGURE 23 >50” INDUSTRIAL VALVES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 65 4.7 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 66 FIGURE 24 PAPER & PULP INDUSTRY TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 66 4.8 INDUSTRIAL VALVES MARKET, BY COUNTRY 67 FIGURE 25 US TO ACCOUNT FOR LARGEST SHARE OF GLOBAL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 67 5 MARKET OVERVIEW 68 5.1 INTRODUCTION 68 5.2 MARKET DYNAMICS 68 FIGURE 26 INDUSTRIAL VALVES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 68 5.2.1 DRIVERS 69 5.2.1.1 Rising demand for valves from healthcare and pharmaceutical industries 69 5.2.1.2 Increasing need to establish new power plants and revamp existing ones 69 5.2.1.3 Rapid deployment of connected networks to monitor valve conditions and predict system failure 70 5.2.1.4 Shifting focus of process industries toward adoption of automation solutions 70 5.2.1.5 Establishment of smart cities globally 71 FIGURE 27 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF DRIVERS 72 5.2.2 RESTRAINTS 72 5.2.2.1 High capital investment and low profit margin due to varying valve standards across regions 72 5.2.2.2 Customer dissatisfaction owing to higher lead time and late order delivery 73 FIGURE 28 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF RESTRAINTS 73 5.2.3 OPPORTUNITIES 73 5.2.3.1 Integration of industrial valves with IIoT and Industry 4.0 73 5.2.3.2 Rising demand for AI-integrated valves for intelligent water supply 74 5.2.3.3 Use of 3D printing technique to manufacture industrial valves 75 5.2.3.4 Thriving petrochemical industry with growing demand for fuel 75 5.2.3.5 Shifting focus of valve manufacturers toward better maintenance and aftermarket services 76 5.2.3.6 Increasing adoption of smart valves as replacement for outdated valves 76 FIGURE 29 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 77 5.2.4 CHALLENGES 78 5.2.4.1 Focus of valve manufacturers on acquisitions affecting profit margins and cash flow 78 5.2.4.2 Fierce competition owing to reduced product differentiation 78 5.2.4.3 Unplanned downtime due to malfunctioning and failure of valves 78 5.2.4.4 High cost of valve manufacturing 79 FIGURE 30 INDUSTRIAL VALVES MARKET: IMPACT ANALYSIS OF CHALLENGES 79 5.3 VALUE CHAIN ANALYSIS 79 FIGURE 31 INDUSTRIAL VALVES MARKET: VALUE CHAIN ANALYSIS 80 5.4 ECOSYSTEM MAPPING 81 FIGURE 32 INDUSTRIAL VALVES MARKET: ECOSYSTEM ANALYSIS 81 TABLE 3 COMPANIES AND THEIR ROLE IN INDUSTRIAL VALVES ECOSYSTEM 81 5.5 PRICING ANALYSIS 83 5.5.1 COMPANY-WISE AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY TYPE 83 TABLE 4 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY TOP COMPANIES, 2023 83 FIGURE 33 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY KEY PLAYERS, BY TYPE (USD) 84 TABLE 5 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES OFFERED BY THREE GLOBAL MARKET PLAYERS, BY TYPE 84 TABLE 6 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, BY REGION 84 FIGURE 34 AVERAGE SELLING PRICE OF INDUSTRIAL VALVES, 2019–2028 85 5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85 FIGURE 35 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85 5.7 TECHNOLOGY ANALYSIS 86 5.7.1 DIGITALIZATION AND ARTIFICIAL INTELLIGENCE 86 5.7.2 INDUSTRIAL INTERNET OF THINGS (IIOT) 86 5.7.3 VALVE CONDITION MONITORING 87 5.8 PORTER’S FIVE FORCES ANALYSIS 88 FIGURE 36 INDUSTRIAL VALVES MARKET: PORTER’S FIVE FORCES ANALYSIS 88 5.8.1 BARGAINING POWER OF SUPPLIERS 88 5.8.2 BARGAINING POWER OF BUYERS 88 5.8.3 THREAT OF NEW ENTRANTS 89 5.8.4 THREAT OF SUBSTITUTES 89 5.8.5 INTENSITY OF COMPETITIVE RIVALRY 89 5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 90 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 90 FIGURE 37 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS 90 TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 END-USER INDUSTRIES ON BUYING PROCESS (%) 90 5.9.2 BUYING CRITERIA 91 FIGURE 38 KEY BUYING CRITERIA OF TOP 3 END-USER INDUSTRIES 91 TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES 91 5.10 CASE STUDY ANALYSIS 91 TABLE 9 SEVERSTAL ADOPTED EMERSON’S FISHER CONTROL-DISK BUTTERFLY VALVES TO REDUCE WATER USAGE 91 TABLE 10 KRUGER, INC. NEWSPRINT MILL DEPLOYED FISHER CONTROL-DISK’S VALVES TO REDUCE FLOW VARIABILITY AND SAVE MAINTENANCE COSTS 92 TABLE 11 BRAY INTERNATIONAL’S KNIFE GATE VALVE OFFERED INCREASED UPTIME OF HYDROCLONE APPLICATION AND REDUCED PRODUCTION LOSS 92 TABLE 12 STADTENTWÄSSERUNG HANNOVER SIGNED CONTRACT WITH KSB SE & CO. KGAA FOR COMPLETE REPAIR AND REFURBISHMENT OF ITS WASTEWATER PUMPING STATION 92 5.11 TRADE ANALYSIS 93 FIGURE 39 IMPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017–2021 (USD MILLION) 93 FIGURE 40 EXPORT DATA FOR TAPS, COCKS, AND SIMILAR APPLIANCES FOR PIPES, BOILER SHELLS, TANKS, VATS, AND PRESSURE-REDUCING AND THERMOSTATICALLY CONTROLLED VALVES, 2017–2021 (USD MILLION) 94 5.12 PATENT ANALYSIS 94 FIGURE 41 NUMBER OF PATENTS GRANTED EVERY YEAR FROM 2013 TO 2022 94 FIGURE 42 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 95 TABLE 13 TOP 20 PATENT OWNERS IN LAST 10 YEARS 95 5.12.1 LIST OF MAJOR PATENTS 96 TABLE 14 KEY PATENTS PERTAINING TO INDUSTRIAL VALVES 96 5.13 KEY CONFERENCES AND EVENTS, 2023–2024 97 TABLE 15 INDUSTRIAL VALVES MARKET: REGION-WISE CONFERENCES AND EVENTS 97 5.14 REGULATIONS AND STANDARDS 97 5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97 TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97 TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98 TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98 TABLE 19 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 99 5.14.2 STANDARDS 99 TABLE 20 STANDARDS FOLLOWED BY MANUFACTURERS OF INDUSTRIAL VALVES 99 6 INDUSTRIAL VALVES MARKET, BY TYPE 101 6.1 INTRODUCTION 102 FIGURE 43 INDUSTRIAL VALVES MARKET, BY VALVE TYPE 102 FIGURE 44 GLOBE VALVES TO LEAD MARKET THROUGHOUT FORECAST PERIOD 102 TABLE 21 INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 103 TABLE 22 INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 103 6.2 BALL VALVES 104 6.2.1 TIGHT SEALING AND LOW OPERATING TORQUE TO DRIVE DEMAND FOR BALL VALVES 104 TABLE 23 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 105 TABLE 24 BALL VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 105 6.2.1.1 Trunnion-mounted ball valves 106 6.2.1.1.1 Suitable for pipelines requiring high pressure 106 6.2.1.2 Floating ball valves 106 6.2.1.2.1 Bi-directional sealing enables free movement of ball to halt media flowing in any direction 106 6.2.1.3 Rising stem ball valves 106 6.2.1.3.1 Designed for quick shutoff applications in chemical plants 106 6.3 BUTTERFLY VALVES 107 6.3.1 LOW PRESSURE DROP AND COST-EFFECTIVENESS TO BOOST DEMAND FOR BUTTERFLY VALVES 107 TABLE 25 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 107 TABLE 26 BUTTERFLY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 108 6.3.1.1 Zero-offset butterfly valves 108 6.3.1.1.1 Suitable for basic and specialty liquid and gas applications up to 200 PSI and 400°F 108 6.3.1.2 Double-offset butterfly valves 109 6.3.1.2.1 Widely adopted by energy & power, pulp & paper, HVAC, chemical, oil & gas, and water & wastewater treatment industries 109 6.3.1.3 Triple-offset butterfly valves 109 6.3.1.3.1 Function effectively in tight shutoff applications 109 6.4 CHECK VALVES 109 6.4.1 ABILITY TO PREVENT REVERSAL PIPELINE FLOW TO STIMULATE DEMAND FOR CHECK VALVES 109 TABLE 27 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 110 TABLE 28 CHECK VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 111 6.5 DIAPHRAGM VALVES 111 6.5.1 ABILITY TO HANDLE CORROSIVE FLUIDS, FIBROUS SLURRIES, AND RADIOACTIVE FLUIDS TO INCREASE REQUIREMENT FOR DIAPHRAGM VALVES 111 TABLE 29 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 112 TABLE 30 DIAPHRAGM VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 112 6.6 GATE VALVES 113 6.6.1 EASY FLOW OF MEDIA DUE TO UNOBSTRUCTED PASSAGEWAY TO BOOST DEMAND FOR GATE VALVES IN OIL & GAS AND PETROCHEMICAL APPLICATIONS 113 TABLE 31 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 114 TABLE 32 GATE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 114 6.6.1.1 Standard plate gate valves 115 6.6.1.1.1 Appropriate for transporting dry solids, granules, and powders 115 6.6.1.2 Wedge-type gate valves 115 6.6.1.2.1 Designed to handle flow of low-viscosity fluids 115 6.6.1.3 Knife gate valves 115 6.6.1.3.1 Preferred to handle slurries, as well as viscous, corrosive, and abrasive media 115 6.7 GLOBE VALVES 116 6.7.1 DEPLOYMENT IN HIGH-PRESSURE SYSTEMS TO CONTRIBUTE TO SEGMENTAL GROWTH 116 TABLE 33 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 116 TABLE 34 GLOBE VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 117 6.8 PLUG VALVES 117 6.8.1 EASY SEALING AND ISOLATION ABILITIES TO BOOST ADOPTION OF PLUG VALVES IN WASTEWATER TREATMENT PLANTS 117 TABLE 35 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 118 TABLE 36 PLUG VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 118 6.9 SAFETY VALVES 119 6.9.1 RISING DEMAND FROM OIL & GAS, ENERGY & POWER, AND CHEMICAL INDUSTRIES TO PROPEL SEGMENTAL GROWTH 119 TABLE 37 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 119 TABLE 38 SAFETY VALVES: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 120 7 INDUSTRIAL VALVES MARKET, BY COMPONENT 121 7.1 INTRODUCTION 122 FIGURE 45 INDUSTRIAL VALVES MARKET, BY COMPONENT 122 FIGURE 46 ACTUATORS TO DOMINATE INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 122 TABLE 39 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 122 TABLE 40 INDUSTRIAL VALVES MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 123 7.2 ACTUATORS 123 7.2.1 FOCUS ON REDUCING MAINTENANCE COST, INCREASING UPTIME, AND ENHANCING PLANT SAFETY TO DRIVE DEMAND FOR ACTUATORS 123 7.2.2 PNEUMATIC ACTUATORS 123 7.2.2.1 Diaphragm actuators 123 7.2.2.1.1 Suitable for control valves used in oil & gas industry 123 7.2.2.2 Piston actuators 123 7.2.2.2.1 Designed for butterfly valves used in food, chemical, and pharmaceutical industries 123 7.2.3 ELECTRIC ACTUATORS 124 7.2.3.1 Wide use in water & wastewater treatment and chemical plants to boost segmental growth 124 7.2.4 HYDRAULIC ACTUATORS 124 7.2.4.1 Integration of hydraulic actuators in HVAC, fire protection, and irrigation systems to propel growth 124 TABLE 41 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 124 TABLE 42 ACTUATORS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 124 7.3 VALVE BODY 125 7.3.1 RISING DEMAND FOR VALVE BODIES FEATURING HIGH CORROSION RESISTANCE AND BETTER CHEMICAL COMPATIBILITY TO SUPPORT SEGMENTAL GROWTH 125 7.4 OTHER COMPONENTS 125 8 INDUSTRIAL VALVES MARKET, BY FUNCTION 126 8.1 INTRODUCTION 127 FIGURE 47 ON/OFF VALVES TO HOLD LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD 127 TABLE 43 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2019–2022 (USD MILLION) 127 TABLE 44 INDUSTRIAL VALVES MARKET, BY FUNCTION, 2023–2028 (USD MILLION) 128 8.2 ON/OFF 128 8.2.1 USE OF ON/OFF VALVES IN THROTTLING APPLICATIONS 128 8.3 CONTROL 129 8.3.1 IMPLEMENTATION OF CONTROL VALVES TO CONTROL TEMPERATURE, FLOW, AND PRESSURE IN INDUSTRIAL PROCESSES 129 9 INDUSTRIAL VALVES MARKET, BY MATERIAL 130 9.1 INTRODUCTION 131 FIGURE 48 INDUSTRIAL VALVES MARKET, BY MATERIAL 131 FIGURE 49 STEEL SEGMENT TO HOLD LARGEST SHARE OF INDUSTRIAL VALVES MARKET, BY MATERIAL, IN 2023 132 TABLE 45 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2019–2022 (USD MILLION) 132 TABLE 46 INDUSTRIAL VALVES MARKET, BY MATERIAL, 2023–2028 (USD MILLION) 132 9.2 STEEL 133 9.2.1 RESISTANCE TO STRESS CORROSION CRACKING TO BOOST DEMAND FOR STEEL VALVES 133 9.3 CAST IRON 134 9.3.1 INCREASING USE OF CAST IRON VALVES IN WATER & WASTEWATER TREATMENT AND HYDROELECTRIC POWER PLANTS TO DRIVE MARKET 134 9.4 ALLOY BASED 134 9.4.1 RISING DEMAND FOR ALLOY-BASED VALVES TO RESOLVE PRESSURE-, TEMPERATURE-, AND CORROSION-RELATED ISSUES DURING PRODUCTION TO FUEL MARKET GROWTH 134 9.5 CRYOGENIC 135 9.5.1 INCREASING ADOPTION OF CRYOGENIC VALVES IN OIL & GAS INDUSTRY TO REGULATE LIQUIFIED GASES TO FUEL MARKET GROWTH 135 9.6 PLASTIC 136 9.6.1 HIGH DURABILITY AND ENHANCED CORROSION RESISTANCE OF PLASTIC VALVES TO DRIVE DEMAND 136 9.7 OTHER MATERIALS 136 9.7.1 BRONZE 136 9.7.2 BRASS 136 10 INDUSTRIAL VALVES MARKET, BY SIZE 137 10.1 INTRODUCTION 138 FIGURE 50 INDUSTRIAL VALVES MARKET, BY SIZE 139 FIGURE 51 1” TO 6” SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD 139 TABLE 47 INDUSTRIAL VALVES MARKET, BY SIZE, 2019–2022 (USD MILLION) 140 TABLE 48 INDUSTRIAL VALVES MARKET, BY SIZE, 2023–2028 (USD MILLION) 140 10.2 <1” 141 10.2.1 INCREASING NEED FOR <1” VALVES FOR PRECISE FLUID CONTROL TO DRIVE MARKET 141 10.3 1” TO 6” 141 10.3.1 RISING ADOPTION OF 1” TO 6” VALVES IN OIL & GAS AND CHEMICAL INDUSTRIES TO BOOST MARKET 141 10.4 7” TO 25” 141 10.4.1 INCREASING ADOPTION OF 7” TO 25” VALVES IN OIL & GAS, WATER & WASTEWATER TREATMENT, AGRICULTURE, AND MINING APPLICATIONS TO CREATE OPPORTUNITIES FOR VALVE PROVIDERS 141 10.5 26” TO 50” 142 10.5.1 GROWING NEED FOR VALVES THAT REMAIN FUNCTIONAL IN HIGH-TEMPERATURE AND HIGH-PRESSURE ENVIRONMENTS TO PROPEL MARKET 142 10.6 >50” 142 10.6.1 OIL & GAS, POWER, AND PETROCHEMICAL INDUSTRIES TO CONTRIBUTE TO MARKET GROWTH 142 11 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 143 11.1 INTRODUCTION 144 FIGURE 52 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY 144 FIGURE 53 ENERGY & POWER INDUSTRY TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET IN 2028 145 TABLE 49 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 145 TABLE 50 INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 146 11.2 OIL & GAS 147 11.2.1 STEADY RECOVERY OF OIL & GAS INDUSTRY TO FOSTER DEMAND FOR INDUSTRIAL VALVES 147 TABLE 51 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 148 TABLE 52 OIL & GAS: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 148 TABLE 53 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 148 TABLE 54 OIL & GAS: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 149 11.3 WATER & WASTEWATER TREATMENT 149 11.3.1 INCREASING INVESTMENTS IN ESTABLISHING WATER TREATMENT PLANTS TO DRIVE MARKET 149 TABLE 55 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 150 TABLE 56 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 150 TABLE 57 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 150 TABLE 58 WATER & WASTEWATER TREATMENT: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 151 11.4 ENERGY & POWER 151 11.4.1 INCREASING ENERGY DEMAND IN DEVELOPING COUNTRIES TO BOOST MARKET 151 TABLE 59 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 152 TABLE 60 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 152 TABLE 61 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 152 TABLE 62 ENERGY & POWER: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 153 11.5 PHARMACEUTICAL 153 11.5.1 AUTOMATION IN PHARMA COMPANIES TO REDUCE DRUG SHORTAGE RISK TO INCREASE DEMAND FOR INDUSTRIAL VALVES 153 TABLE 63 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 154 TABLE 64 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 154 TABLE 65 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 154 TABLE 66 PHARMACEUTICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 155 11.6 FOOD & BEVERAGE 155 11.6.1 RISING NEED TO IMPROVE PROCESS EFFICIENCY TO DRIVE MARKET 155 TABLE 67 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 156 TABLE 68 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 156 TABLE 69 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 156 TABLE 70 FOOD & BEVERAGE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 157 11.7 CHEMICAL 157 11.7.1 NEED TO COMPLY WITH STRINGENT SAFETY STANDARDS TO BOOST DEMAND 157 TABLE 71 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 158 TABLE 72 CHEMICAL: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 158 TABLE 73 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 158 TABLE 74 CHEMICAL: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 159 11.8 BUILDING & CONSTRUCTION 159 11.8.1 RISING APPLICATIONS OF VALVES IN BUILDING & CONSTRUCTION INDUSTRY TO DRIVE DEMAND 159 TABLE 75 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 160 TABLE 76 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 160 TABLE 77 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 160 TABLE 78 BUILDING & CONSTRUCTION: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 161 11.9 PAPER & PULP 161 11.9.1 INCREASING USE OF INDUSTRIAL VALVES IN REPULPING AND RECYCLING APPLICATIONS TO SUPPORT MARKET GROWTH 161 TABLE 79 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 162 TABLE 80 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 162 TABLE 81 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 163 TABLE 82 PAPER & PULP: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 163 11.10 METAL & MINING 164 11.10.1 GROWING DEMAND FOR PREDICTIVE MAINTENANCE TO DRIVE MARKET 164 TABLE 83 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 165 TABLE 84 METAL & MINING: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 165 TABLE 85 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 165 TABLE 86 METAL & MINING: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 166 11.11 AGRICULTURE 166 11.11.1 SURGING USE OF INDUSTRIAL VALVES IN IRRIGATION APPLICATIONS TO SPUR DEMAND 166 TABLE 87 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 166 TABLE 88 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 167 TABLE 89 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 167 TABLE 90 AGRICULTURE: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 167 11.12 SEMICONDUCTOR 168 11.12.1 NECESSITY TO OPTIMIZE ATOMIC LAYER DEPOSITION PROCESSES IN SEMICONDUCTOR MANUFACTURING TO DRIVE DEMAND 168 TABLE 91 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 168 TABLE 92 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 168 TABLE 93 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 169 TABLE 94 SEMICONDUCTOR: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 169 11.13 OTHER END-USER INDUSTRIES 169 TABLE 95 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 170 TABLE 96 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 170 TABLE 97 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2019–2022 (USD MILLION) 170 TABLE 98 OTHER END-USER INDUSTRIES: INDUSTRIAL VALVES MARKET, BY TYPE, 2023–2028 (USD MILLION) 171 12 INDUSTRIAL VALVES MARKET, BY REGION 172 12.1 INTRODUCTION 173 FIGURE 54 US TO REGISTER HIGHEST CAGR IN OVERALL INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 173 FIGURE 55 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 174 TABLE 99 INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 174 TABLE 100 INDUSTRIAL VALVES MARKET, BY REGION, 2023–2028 (USD MILLION) 174 12.2 NORTH AMERICA 175 FIGURE 56 NORTH AMERICA: SNAPSHOT OF INDUSTRIAL VALVES MARKET 176 FIGURE 57 US TO REGISTER HIGHEST CAGR IN NORTH AMERICAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 177 TABLE 101 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 177 TABLE 102 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 177 TABLE 103 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 178 TABLE 104 NORTH AMERICA: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 178 12.2.1 US 179 12.2.1.1 Aging water & wastewater infrastructure in US to accelerate market growth 179 12.2.2 CANADA 180 12.2.2.1 Rising adoption of valves in oil & gas sector to contribute to market growth 180 12.2.3 MEXICO 180 12.2.3.1 Thriving semiconductor industry to boost growth 180 12.3 EUROPE 181 FIGURE 58 EUROPE: SNAPSHOT OF INDUSTRIAL VALVES MARKET 182 FIGURE 59 GERMANY TO REGISTER HIGHEST CAGR IN EUROPEAN INDUSTRIAL VALVES MARKET DURING FORECAST PERIOD 183 TABLE 105 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 183 TABLE 106 EUROPE: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 183 TABLE 107 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 184 TABLE 108 EUROPE: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 184 12.3.1 UK 185 12.3.1.1 Water industry to propel demand for control valves 185 12.3.2 GERMANY 185 12.3.2.1 Rising adoption of industrial valves by process industries to stimulate market growth 185 12.3.3 FRANCE 185 12.3.3.1 Ongoing nuclear and chemical projects to boost demand 185 12.3.4 ITALY 186 12.3.4.1 Investments in refurbishing and retrofitting water & wastewater treatment plants to support market growth 186 12.3.5 REST OF EUROPE 186 12.4 ASIA PACIFIC 187 FIGURE 60 ASIA PACIFIC: INDUSTRIAL VALVES MARKET SNAPSHOT 188 FIGURE 61 SOUTH KOREA TO REGISTER HIGHEST CAGR IN INDUSTRIAL VALVES MARKET IN ASIA PACIFIC DURING FORECAST PERIOD 189 TABLE 109 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 189 TABLE 110 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 189 TABLE 111 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 190 TABLE 112 ASIA PACIFIC: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 190 12.4.1 CHINA 191 12.4.1.1 Booming pharmaceutical industry to promote demand for industrial valves 191 12.4.2 JAPAN 191 12.4.2.1 Increasing focus on renewable energy projects to boost requirement for industrial valves 191 12.4.3 INDIA 191 12.4.3.1 Oil and gas exploration activities to fuel market growth 191 12.4.4 SOUTH KOREA 192 12.4.4.1 Presence of leading chemical companies to accelerate demand for industrial valves 192 12.4.5 REST OF ASIA PACIFIC 192 12.5 REST OF THE WORLD (ROW) 192 FIGURE 62 MIDDLE EAST TO DOMINATE INDUSTRIAL VALVES MARKET IN ROW DURING FORECAST PERIOD 193 TABLE 113 ROW: INDUSTRIAL VALVES MARKET, BY REGION, 2019–2022 (USD MILLION) 193 TABLE 114 ROW: INDUSTRIAL VALVES MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION) 193 TABLE 115 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION) 194 TABLE 116 ROW: INDUSTRIAL VALVES MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION) 194 12.5.1 MIDDLE EAST 195 12.5.1.1 Booming oil & gas and chemical industries to increase demand for industrial valves 195 TABLE 117 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 195 TABLE 118 MIDDLE EAST: INDUSTRIAL VALVES MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 195 12.5.2 SOUTH AMERICA 196 12.5.2.1 Thriving petrochemical and mining industries to contribute to market growth 196 12.5.3 AFRICA 196 12.5.3.1 Increasing investments in improving water management infrastructure to generate opportunities for valve manufacturers 196 13 COMPETITIVE LANDSCAPE 197 13.1 OVERVIEW 197 13.1.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN INDUSTRIAL VALVES MARKET 197 13.2 REVENUE ANALYSIS OF TOP 5 PLAYERS 199 FIGURE 63 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 199 13.3 MARKET SHARE ANALYSIS, 2022 199 TABLE 119 INDUSTRIAL VALVES MARKET: MARKET SHARE OF KEY COMPANIES 200 FIGURE 64 INDUSTRIAL VALVES MARKET: MARKET SHARE ANALYSIS (2022) 200 13.4 COMPANY EVALUATION QUADRANT 202 13.4.1 STARS 202 13.4.2 EMERGING LEADERS 203 13.4.3 PERVASIVE PLAYERS 203 13.4.4 PARTICIPANTS 203 FIGURE 65 INDUSTRIAL VALVES MARKET (GLOBAL): COMPANY EVALUATION QUADRANT, 2022 203 13.5 SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION QUADRANT, 2022 204 13.5.1 PROGRESSIVE COMPANIES 204 13.5.2 RESPONSIVE COMPANIES 204 13.5.3 DYNAMIC COMPANIES 204 13.5.4 STARTING BLOCKS 204 FIGURE 66 INDUSTRIAL VALVES MARKET (GLOBAL): SMES EVALUATION QUADRANT, 2022 205 13.6 COMPANY FOOTPRINT 206 TABLE 120 COMPANY FOOTPRINT 206 TABLE 121 END-USER INDUSTRY: COMPANY FOOTPRINT 207 TABLE 122 TYPE: COMPANY FOOTPRINT 208 TABLE 123 REGION: COMPANY FOOTPRINT 209 13.7 COMPETITIVE BENCHMARKING 210 TABLE 124 INDUSTRIAL VALVES MARKET: DETAILED LIST OF KEY STARTUPS/SMES 210 TABLE 125 INDUSTRIAL VALVES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 211 13.8 COMPETITIVE SITUATIONS AND TRENDS 213 13.8.1 PRODUCT LAUNCHES 213 TABLE 126 INDUSTRIAL VALVES MARKET: PRODUCT LAUNCHES, APRIL 2021–DECEMBER 2022 213 13.8.2 DEALS 215 TABLE 127 INDUSTRIAL VALVES MARKET: DEALS, JUNE 2021–NOVEMBER 2022 215 13.8.3 OTHERS 217 TABLE 128 INDUSTRIAL VALVES MARKET: OTHERS, FEBRUARY 2022–NOVEMBER 2022 217
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