Valves Market Report 2024 (Global Edition)

Global Valves Market Report 2024 Market Size Split by Type (Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaph...

Valves Market Report Description

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Valves Market Insights Video

Competitive Landscape of the Valves Market

The market for valves is extremely competitive, and major competitors prioritize technological breakthroughs, product quality, and innovation. Large corporations like Alfa Laval, Flowserve Corporation, and Emerson Electric make significant investments in R&D to improve valve efficiency and incorporate intelligent features. Mergers, acquisitions, and geographical expansions also influence market rivalry. The sector is more competitive because of smaller, local producers competing on cost-effectiveness, particularly in emerging countries.

In January 2024, PJ Valves, a prominent leader in the global valve and actuator business, successfully completed its most recent plant expansion in Pune, India. This accomplishment highlights PJ Valves' commitment to innovation and expands its production capacity, guaranteeing that it will continue to lead in meeting the constantly evolving needs of its customers. With the new plant, PJ Valves would be able to produce more than 2.5 times as many ball and butterfly valves. (Source:https://pjvalves.com/pj-valves-celebrates-new-factory-expansion-in-pune-india-marking-a-milestone-in-growth-and-innovation/) In May 2023, The first 20-inch Class 2500LB metal sealed emergency shut-off valve was successfully developed and manufactured in China by Newey Valve, a valve manufacturing firm, after three years of work by the Neway R&D team to close gaps in the local sector! "The primary application for this batch of high-pressure weaver-resistant ball valves is in the building of offshore platforms," stated the technical director of Neway Valves. The valves can be closed in ten seconds in the case of an emergency during offshore oil drilling operations to stop leaks. (Source: https://www.newayvalve.com/37/157) In December 2022, Emerson launched the Crosby J-Series series of pressure relief valves, which should provide balanced operation against back pressure to enhance performance and save ownership costs. They have bellows leak detection technology, which helps lower volumetric emissions by remotely detecting bellows ruptures in the valves. (Source:https://www.emerson.com/en-in/news/automation/22-12-new-crosby-j-series-pressure-relief-valve-product-line) In April 2021, The valve manufacturer Alfa Laval is expanding its line of distinctive DV-ST UltraPure diaphragm valves. Slimmer actuators and improved lightweight cast valve bodies with choices for incredibly cost-effective operation are features of the new line. The improved DV-ST UltraPure line may be completely tailored to satisfy almost any aseptic process need in the pharmaceutical and food sectors. (Source: https://www.alfalaval.in/media/news/2021/expanded-alfa-laval-unique-dv-st-ultrapure-valve-range-boosts-aseptic-processing-efficiency/)

Top Companies Market Share in Valves Industry: (In no particular order of Rank)

• Honeywell International Inc.
• Emerson Electric Co.
• Schlumberger Limited
• Flowserve Corporation
• KITZ Corporation
• AVK Holding A/S
• Rotork Plc
• Goodwin International Ltd
• General Electric Company
• Bürkert Fluid Control Systems
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Valves Market

Which Region Dominates the Valves Market in 2024?

According to Cognitive Market Research, North America currently dominates the Valves market, and the region is expected to have significant growth during the projected period. North America is a major contributor to the growth of the valves market because of its robust industrial base and emphasis on technological innovation. In sectors including oil and gas, chemicals, power generation, and water treatment, where valves are crucial for operational efficiency and safety, the region's need is driven. Growing expenditures on infrastructure and renewable energy projects increase the demand for sophisticated, automated valve systems. Strict safety and environmental restrictions also encourage the development of high-performance valves that adhere to compliance requirements. Because of its emphasis on automation and innovation, North America continues to be a significant market for both conventional and smart valve systems.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Asia Pacific's fast industrialization, urbanization, and infrastructural development are expected to propel the valves market's notable expansion. In order to control fluid flow, pressure, and safety, valves are in high demand due to the growth of important industries like power generation, chemicals, water treatment, and oil and gas. Advanced, energy-efficient valve solutions are also needed in the region due to environmental rules and a growing emphasis on renewable energy. Large-scale industrial projects and a growing trend toward automation and smart valve technologies are two important contributions from nations like China, India, and Japan that further drive market expansion.

The current report Scope analyzes Valves Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Valves

According to Cognitive Market Research, the global Valves market size was estimated at USD 9125.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 3650.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Valves market with a market size of USD 2880.01 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. In the U.S., the need for valves is increased by investments in water treatment plants and ageing infrastructure, especially in industrial and municipal settings.
• The Canadian Valves market had a market share of USD 438.02 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. In Canada, high-performance valves are necessary for the extraction, refinement, and transportation of Canada's enormous oil sands reserves.
• The Mexico Valves market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 332.17 million in 2024.

Europe Valves

According to Cognitive Market Research, the global Valves market size was estimated at USD 9125.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2737.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Valves market had a market share of USD 459.93 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Valves are needed for wind, solar, and bioenergy projects as the UK moves toward renewable energy.
• The France Valves market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 251.86 million in 2024.
• According to Cognitive Market Research, the German Valves market size was valued at USD 542.05 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. Precision valves are in great demand, especially in the chemical and automotive industries, due to Germany's robust manufacturing industry and emphasis on automation.
• The Italy Valves market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 235.44 million in 2024.
• The Russia Valves market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 424.34 million in 2024.
• The Spain Valves market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 224.49 million in 2024
• The Luxembourg Valves market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD 84.87 million in 2024.
• The Portugal Valves market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 57.49 million in 2024.
• The Greece Valves market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 32.85 million in 2024.
• The Rest of Europe's Valves market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 424.34 million in 2024.

Asia Pacific Valves

According to Cognitive Market Research, the global Valves market size was estimated at USD 9125.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2098.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Valves market size was valued at USD 944.49 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Valvess surged in China due to the need for greener technologies, such as hydrogen production and renewable energy demands for specific valve solutions.
• The Japan Valves market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 289.64 million in 2024.
• The India Valves market had a market share of USD 251.86 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. In India, the need for valves is driven by investments in smart cities that prioritize sustainable infrastructure and water management.
• The South Korean Valves market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 209.89 million in 2024.
• The Australian Valves market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 109.14 million in 2024.
• The South East Asia Valves market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 144.82 million in 2024.
• The Rest of Asia Pacific Valves market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 149.02 million in 2024.

South America Valves

According to Cognitive Market Research, the global Valves market size was estimated at USD 9125.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 456.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Valves market size was valued at USD 195.29 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Valves flourished in Brazil due to the valves are essential for efficient water distribution and treatment systems as water infrastructure improvements continue.
• Argentina's Valves market had a market share of USD 76.65 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Argentina's valve needs are driven by demand from the mining, food processing, and chemical industries.
• Colombia's Valves market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 40.61 million in 2024.
• Peru's Valves market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 37.41 million in 2024.
• Chile's Valves market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 32.85 million in 2024.
• The Rest of Latin America's Valves market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 73.46 million in 2024.

Middle East and Africa Valves

According to Cognitive Market Research, the global Valves market size was estimated at USD 9125.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 182.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..

• The GCC Countries Valves market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 78.11 million in 2024. Valves sales flourish due to the key leaders in the oil and gas industry; the GCC countries have a strong demand for valves for exploration, production, and refining.
• The Egypt Valves market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 19.16 million in 2024.
• The South African Valves market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 28.84 million in 2024. Valves sales flourished in South Africa due to the mining industry needs valves for applications such as chemical processing, and slurry handling.
• The Turkey Valves market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 15.70 million in 2024.
• The Nigeria Valves market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 19.16 million in 2024.
• The Rest of the MEA Valves market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 21.54 million in 2024.

Valves Market Analysis

Valves Market Type Segment Analysis

According to Cognitive Market Research, ball valves are likely to dominate the Valves Market over the forecast period. Because of its strength, tight sealing, and capacity to manage high pressure and flow rates, ball valves are extensively utilized in the valve industry. These valves, which have a spherical disc, offer dependable on/off control for applications that need little pressure loss. Ball valves effectively control the flow of liquids, gases, and slurries and are frequently utilized in sectors such as manufacturing, chemical processing, water treatment, and oil and gas. They are perfect for essential applications, especially when high performance and frequent valve cycling are required, because of their quick shut-off characteristics, corrosion resistance, and ease of maintenance.

The safety/relief valves are the fastest-growing segment in the Valves Market. The market for valves is dominated by safety and relief valves, which are made to guard against overpressure and safeguard machinery in hazardous conditions. The oil and gas, chemical, electricity, and pharmaceutical sectors depend on these valves because they automatically release excess pressure to prevent system breakdowns or dangerous situations. Frequently found in reactors, pipelines, and boilers, they keep operating levels safe by releasing surplus fluids or gases when necessary. Because of their dependability in managing emergency pressure relief and protecting vital equipment, they are essential for upholding safety and legal compliance in industrial settings.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Valves Industry. Request a Free Sample PDF!

Valves Market Industry Segment Analysis

According to Cognitive Market Research, the oil & gas segment holds the largest share of the market. The market for valves is mostly driven by the oil and gas sector, which requires high-performance valves that can endure high temperatures, pressures, and corrosive conditions. From upstream exploration and extraction to midstream transportation and downstream refining, valves are essential to every stage of the oil and gas production process. They improve operational efficiency and safety by regulating fluid flow, optimizing pressure, and guaranteeing safety. The need for specialized, long-lasting valves in the oil and gas industry is expected to increase due to ongoing investments in new exploration projects and technical developments in automation, which will further highlight the market's significance.

In the Valves Market, the water & wastewater treatment has been expanding at a rapid pace. Because it uses valves to control flow, regulate pressure, and ensure safety throughout a variety of treatment processes, the water and wastewater treatment industry is a major player in the valves market. Applications, including filtration, disinfection, and chemical dosing, require valves in order to handle clean and polluted water safely and effectively. As a result of growing worries about pollution, water scarcity, and ageing infrastructure, advanced treatment facilities are being built all over the world, increasing demand for dependable and corrosion-resistant valves. Regulatory requirements and urbanization are driving this demand, underscoring the sector's significance in the valves market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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