Industrial Valves Market and the Water & Wastewater Treatment Industry
The Industrial Valves Market will increase at a CAGR of 4.4% from an anticipated USD 80.4 billion in 2023 to USD 99.8 billion by 2028. The global need to build more power plants and upgrade those that already exist, as well as the increasing demand for valves from the pharmaceutical and healthcare sectors, are all cited as contributing factors to the increase. In numerous applications, including as water and wastewater treatment, oil and gas, energy and electricity, and chemicals, the paper emphasises the growing significance of valves. The Asia Pacific area is noted in the research as having the quickest market growth, followed by Europe and North America. The Industrial Valves Market is predicted to expand further due to rising demand from various end-use industries and the uptake of automation technology.
Based on type, globe valves held the largest share of the industrial valves market in 2022
Globe valves had the biggest market share for industrial valves in 2022, according to a recent survey. Cryogenic applications frequently use globe valves, which are frequently made of stainless steel and bronze. These materials can be used in cryogenic applications because all that is needed to keep the packing gland area from freezing is an extended bonnet. Globe valves are excellent for high-pressure applications and can be used to manage high-pressure steam applications in power plants. Globe valves are also utilised in power plants' lubricating systems and coolant pipes to control fluid flow. Globe valves are an all-around adaptable and popular kind of industrial valve with a wide range of uses.
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Based on component, actuators held the largest share of the industrial valves market in 2022
Actuators were the component type that accounted for the biggest market share for industrial valves in 2022, according to a recent analysis. The motion necessary to operate valves is provided by actuators, which are crucial parts. Since they may deliver a few inch pounds of torque to over a million inch pounds of torque, pneumatic actuators are popular in a variety of applications. In contrast, hydraulic actuators employ an external power source and respond to signals that can be measured in amperes, volts, or pressure to translate fluid pressure into motion in response to a signal. When a lot of force is needed to activate a valve, hydraulic actuators are the best choice. Actuators are essential parts of industrial valve systems because they make it possible to precisely and accurately control the flow of fluids.
Based on function, on/off function held the larger share of the industrial valves market in 2022
On/off function held the largest market share for industrial valves in 2022, per a recent analysis, depending on function type. In industrial settings, on/off valves are frequently employed to either permit or obstruct fluid flow. On/off valves include isolation valves, which can be in either the ordinarily open (NO) or normally closed (NC) configuration. Among other applications, normally open valves are used in pressure vessels, pumps, compressors, tanks, pressure sensors, and liquid-level measurement equipment. By choosing one flow path over another or adding extra equipment to a system, isolation valves can supply flow logic. Vent and drain valves, which are typically closed, are only opened when a system is being depressurized or drained of fluids. On/off valves are essential parts of industrial valve systems and are extremely important for controlling fluid flow.
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Based on material, steel valves held the largest share of the industrial valves market in 2022
A recent study found that, in terms of material type, steel valves had the biggest market share for industrial valves in 2022. In industrial settings where pressure ratings, high-temperature functioning, and corrosion resistance are essential, steel valves are frequently utilised. Ferritic, austenitic, martensitic, and duplex steel are the most often utilised forms of steel to make valves. For industries like oil and gas, water and wastewater treatment, pharmaceuticals, building and construction, and pulp and paper, basic stainless steels like 316s, 329s, and 400s are suitable. Due to its great strength, long lifespan, and resistance to wear and tear, steel valves are widely used. They are useful for a variety of industrial applications since they can endure high pressures and temperatures and are frequently utilised in severe environments.
Based on size, industrial valves in the size range of 1" to 6" held the largest share of the market in 2022
According to a recent analysis, the market for industrial valves with a size between 1" and 6" held the biggest share in 2022. The majority of valves in process systems are installed in piping with a diameter of 4 or less "the size. The choice of valve size is extremely individualised and is influenced by the needs of the application. valves of 6 mm "In the absence of a specific size choice, or less are frequently utilised. In a variety of sectors, including food and beverage, pharmaceuticals, water and wastewater treatment, and slurries, chemicals, and water, valves in this size range are suited for managing different types of media.
Based on end-user industry, the energy & power industry held the largest share of the industrial valves market in 2022
According to a recent analysis, based on end-user industries, the energy and power sector held the highest share of the industrial valves market in 2022. The main reason projected to propel the expansion of the industrial valves market for the energy and power industry is the rising construction of new coal-fired power plants, gas turbines, and nuclear power plants. The necessity for repair and refurbishment of existing power plants is partly influenced by the strict environmental regulations in the US and Europe as well as initiatives by end-user businesses to minimise carbon footprints and carbon dioxide emissions. Valves are vital elements in the energy and power industries because they regulate the flow of fluids and gases in power plants. As the requirement for energy and power generation continues to rise globally, the market for industrial valves is anticipated to expand.
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The industrial valves market in Asia Pacific held the largest share of the market in 2022
In 2022, the Asia Pacific region held the greatest market share for industrial valves, according to a report. Industrial valves are mostly produced and exported by China, while Japan strongly depends on nuclear energy, which raises demand for industrial valves. Offshore explorations and the development of pipeline infrastructure for the oil and gas industry in India are the main factors driving the need for valves. The expansion of new power plants and the increasing acceptance of automation solutions across a variety of industries can both be linked to the region's rising need for industrial valves.
Major companies 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).
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