The industrial valves market is estimated to be valued at USD 76.9 Bn in 2024 and is expected to reach USD 176.5 Bn by 2031. It is estimated to grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031. The industrial valves market is witnessing positive trends such as growing adoption of smart valves and emergence of collaborative robots.

Market Driver - Growing Demand for Automated Valves in the Oil & Gas Sector

The oil and gas industry has been increasingly adopting automated valves in their production processes to enhance operational efficiency. With advances in valve actuation and control technologies, oil and gas companies are able to remotely monitor and operate their industrial valve infrastructure from centralized control rooms.

A major benefit of automated industrial valves is that they increase uptime of production equipment. The valves are programmed to open and close autonomously based on predefined setpoints without any delay. Oil and gas operators are realizing higher returns on investment through better utilization of expensive refining and pipeline assets with automated valve technology.

Rising adoption of digital transformation initiatives across the sector is another key factor driving increased demand. Players in the industrial valves market are increasingly leveraging IoT, analytics, and artificial intelligence to remotely monitor and diagnostic the performance of field equipment. This will shape new trends in the market in the coming years.

Market Driver - Rising Need for Efficient Pipeline Monitoring in Energy and Transportation

With growing pipeline networks transporting oil, gas and other critical fluids, the need for stringent monitoring of pipeline infrastructure has risen significantly. Undetected leakages or pressure variations can disrupt supplies and also lead to safety and environmental hazards.

‘Intelligent valves' can continuously track parameters like flow, pressure, temperature, and detect any anomalies. They autonomously alert control rooms in case pre-set thresholds are exceeded. This allows prompt isolation of pipeline sections for repairs or maintenance before small faults escalate into major damage. Industrial valves are also programmed to close automatically in an emergency shutdown scenario like a large rupture.

Adoption of such smart valves is growing across various pipeline applications. For natural gas distribution, utilities are deploying them within their networks to accurately meter and curtail gas supplies during high demand periods or emergencies. This ensures continuity of supply to high-priority consumer segments like power plants. Overall, efficient pipeline monitoring through automated control valves is enabling higher network reliability in diverse energy transportation infrastructure.

Market Challenge - Lack of Global Manufacturing Standards for Industrial Valves

The industrial valves market faces significant challenges due to a lack of global manufacturing standards. While there are some regional standards organizations, such as the American Petroleum Institute in North America, there is no single comprehensive set of standards that are adopted worldwide. This leads to inconsistencies in specifications between geographic regions.

Industrial valves market players must tailor their products to meet the requirements of each individual market, raising costs and complexity compared to a unified standard. It also causes compatibility issues when facilities seek to procure valves from global suppliers or integrate valves into multinational systems. The lack of standardized dimensions, materials, testing protocols and markings increases the risk of performance, reliability and safety issues over the lifetime of the valves. The

The development of a set of universal valve standards could help address these challenges by simplifying certification, improving product interchangeability and creating a more seamless global marketplace. However, gaining industry consensus on standardized requirements continues to be an obstacle due to diverging regional practices and vested interests.

Market Opportunity - Advancements in Stainless Steel Valve Materials for Wastewater Management

Significant opportunities exist for industrial valve suppliers in the wastewater management industry driven by advancements in stainless steel materials. Treated wastewater is increasingly being reused for industrial processes and agricultural irrigation due to growing water scarcity. This is accelerating demand for corrosion-resistant valves capable of handling higher concentrations of chemicals, salts, and bacteria in reclaimed water applications.

Leading industrial valve manufacturers have developed innovative stainless steel alloys with improved chromium-nickel compositions that provide unmatched resistance to corrosion, pressure, temperature, and abrasion. When combined with premium surface finishes, tight tolerances and automated passivation treatments, these new stainless materials enable valves to achieve significantly longer lifespans of 15-20 years even under highly demanding operating conditions.

Looking ahead, continued materials innovation is expected to further expand the suitability of stainless valves into newer application areas in the industrial valves market.

Strategy: Focus on product innovation and development of new technologies

Example: Emerson introduced its robust and reliable RosemountTM 5408 multi-variable transmitter in 2019. Such innovations help companies expand their product portfolio and address emerging customer needs.

Strategy: Pursue strategic acquisitions to enhance product offerings and geographical reach

Example: In 2018, Flowserve acquired Black & Veatch's water infrastructure business to gain access to its expertise in water industry solutions. Such acquisitions complement existing product lines and markets.

Strategy: Focus on aftersales services and solutions to boost customer satisfaction and recurring revenues

Example: Emerson acquired ProVision in 2020 to enhance remote monitoring capabilities for valves and pumps. Their Asset Optimization Solutions help operators optimize plant uptime through real-time notifications and remote diagnostics. This strengthens customer relationships through improved service support.

Strategy: Concentrate on emerging end-use industries like renewable energy and biopharma

Example: Crane acquired Circor's pump and valve business in 2018, expanding its portfolio to serve the biopharma industry's stringent quality standards. This helped it gain access to the fast-growing industrial valves market.

Insights, By Valve Type: Process Automation Drives Butterfly Valves' Dominance

In terms of valve type, butterfly valves contributes 20.4% share of the industrial valves market owning to its suitability for automated process control applications. Being lightweight yet durable, butterfly valves can be easily integrated into automated piping systems used across various process industries. Some applications include power generation, oil and gas production, chemical processing, and water treatment. Their tight shut-off capability enables precise flow regulation required for critical process functions.

Butterfly valves also allow bidirectional flow, which is beneficial in systems with frequent flow direction changes. Their compact design occupies less space and simplifies piping layouts compared to other valve types. Further, butterfly valves are simpler to operate electrically through actuators for remote and automated operation. Their low maintenance needs also make them ideal for use in unmanned process facilities.

Insights, By Material: Material Durability in Harsh Conditions Facilitates Steel's Leading Position

In terms of material, steel contributes 40.3% share of the industrial valves market owing to its superior corrosion resistance and strength especially for use in harsh industrial environments. Steel valves retain their structural integrity when exposed to wide temperature variation, extreme pressure levels, and presence of corrosive chemicals found across process plants.

Additionally, steel alloys can be customized to suit the diverse media handled in industries like oil & gas, chemicals and hydrocarbons. This offers versatility for applications involving toxic, highly reactive, or abrasive substances. Moreover, steel fabrication technologies are well-established, allowing mass production of standardized as well as customized  industrial valve designs as per application needs.

Insights, By Application: Critical Requirements from Water Treatment Foster Water & Wastewater Segment

In terms of application, water & wastewater contributes the highest share of the industrial valves market owing to the critical role valves play in water management infrastructure. Industrial valves are used extensively in water treatment, supply, wastewater collection and treatment facilities to regulate flow, isolate or divert streams, and ensure non-return of flows. They meet stringent safety and reliability standards required to transport potable water and treat wastewater.

Further, rising investments into upgrading aging water networks and expanding access in developing regions augment valve replacement and new installation activities. Tightening environmental regulations also propel wastewater recycling and advanced treatment initiatives relying on automated industrial valve-based systems. This sustains long-term demand from the water and wastewater segment in the industrial valves market.

• Asia-Pacific accounted for 36% share of the industrial valves market in 2023, driven by expanding petrochemical industries and infrastructure development.
• North America is projected to experience the fastest growth in the global industrial valves market due to increased replacement of inefficient valves and rising shale gas production.
• Steel valves dominate the industrial valves market due to their corrosion resistance and application in harsh environments.
• Oil & gas accounted for the largest share in the industrial valves market in 2023, driven by rising demand for pipeline installations and advanced monitoring systems.

The major players operating in the industrial valves market include Avcon Controls Private Limited, AVK Holding A/S, Crane Co., Metso Corporation, Schlumberger Limited, Flowserve Corporation, Emerson Electric Co., IMI plc, Forbes Marshall, and The Weir Group plc.

• In September 2024, AVK International received the DIRA Automation Award for implementing a fully automatic robot solution in their production process. This advancement has improved product quality and operational efficiency, aligning with AVK's commitment to innovation and sustainability.
• In January 2024, Crane Co. acquired Vian Enterprises, Inc., further strengthening its product and technology portfolio. This indicate Crane Co.'s commitment to enhancing its offerings in the process flow technologies sector, which could indirectly support improvements in pipeline systems.
• In June 2023, Flowserve Corporation announced that its Valtek® Valdisk™ high-performance butterfly valve had successfully completed a rigorous one million-cycle endurance test, earning licensor approval for use in pressure swing adsorption (PSA) applications.

• By Valve Type
  • Butterfly Valves
  • Ball Valves
  • Globe Valves
  • Gate Valves
  • Check Valves
  • Plug Valves
  • Diaphragm Valves
• By Material
  • Steel
  • Cast Iron
  • Alloy-based Materials
  • Others
• By Application
  • Water & Wastewater
  • Oil & Power
  • Food & Beverages
  • Chemical
  • Others