Over the course of the projected period, an increase in oil and gas exploration activities is anticipated to fuel market expansion for valves worldwide. Due to their widespread application in upstream, middle, and downstream operations, valves have seen significant demand from the oil and gas sector. Although there is a strong demand for oil and gas, there are less reserves around the world, which is causing a decline in supply. As a result, these conditions have forced oil and gas corporations to investigate new fields in order to increase the efficiency of extraction. Governments from many nations are concentrating on making investments in fresh oil and gas firms. Over the forecast period, strong growth in the pipelines sector is anticipated to drive the market for valves worldwide. Infrastructure development and adequacy determine how long the economy will grow. The worldwide valves market has promising growth opportunities in the power industry. Robotics and other cutting-edge technology are used to autonomously govern complex processes in the pulp and paper and oil and gas industries. Due to the introduction of cutting-edge technology, activities are now flexible and very effective.
According to Coherent Market Insights, In terms of value, the global Valve Market was valued at US$ 72,862.8 Mn in 2019 and is anticipated to increase at a CAGR of 6.8% from 2019 to 2027.
Major Players in the Valve Industry
- Schlumberger Limited
The company was started in 1926 and is based in Houston, Texas, United States. The business offers a variety of services, such as information solutions, project management, and technology. Gyrodata Incorporated, a provider of gyroscopic wellbore positioning and survey technology with headquarters in Houston, was acquired by SLB in full in February 2023, according to an announcement made at the time. Schlumberger successfully changed its company name to SLB in 2022.
- Goodwin International Ltd
The firm was established in 1949 and is located in United Kingdom. The business produces and creates dual plate check valves. The company offers a variety of sizes, pressure classes, and materials for wafer, flanged, solid lug, buttweld end, and hub end check valves. Worldwide distribution of Goodwin International's goods to the offshore and onshore energy and hydrocarbons industries.
- Honeywell International Inc.
The company was founded in 1906 and has its main office in North Carolina, United States. The business offers aerospace goods and services, control, sensing, and security systems for commercial buildings, as well as solutions for safety and productivity. Honeywell launched Bangalore Safe City Project's first phase successfully in March 2023. The new premium range for the Indian market, Blenze Pro Wiring Devices, was introduced by Honeywell in March 2023.
- General Electric Company
The business was started in 1892 and is located in Boston, Massachusetts, United States. Globally diversified technology and financial services firm General Electric Company. GE Renewable Energy and Walcha Energy entered into a contract in August 2020 to expedite the 500MW Dungowan Pumped Hydro Storage Project in New South Wales (NSW), Australia.
- Emerson Electric Co.
The company was started in 1890 and is based in St. Louis, Missouri, United States. Emerson Electric Co. creates and produces electronic and electrical products, as well as systems, services, and software. To increase its market share in the hydropower controls systems industry, Emerson bought American Governor Company on April 1, 2020. Emerson and National Instruments reached an all-cash agreement to buy one other in April 2023.
- Rotork Plc
The business was started in 1957 and is based in Bath, United Kingdom. Through the design, production, and support of actuators, systems, and related products for the valve industry, the firm offers actuation solutions. Process Control, Electric, Fluid Systems, and Gears are the primary commercial activities.
- KITZ Corporation
The company was started in 1944 and has its main office in Chiba, Chiba, Japan. The business makes both commercial and mass-produced valves. The company offers bronze, steel, stainless steel, plastic, copper, and rolled copper-type valves in its product line. Construction and engineering services are also offered by Kitz.
*Definition: A valve is a piece of machinery that regulates or controls the flow of fluid (liquid or gas) by closing and opening, partially blocking, or otherwise changing the configuration of numerous gateways. The control of temperatures also uses valves. The water supply for domestic applications is often controlled by valves in public places.
