The valves industry grows in tandem with global industrialization and the expanding residential sector. As a result, its growth scope is vast. According to Coherent Market Insights, the global valves industry is poised to exhibit a CAGR of 6.8%, totaling US$ 114.37 billion by 2030.
Honey International Inc., Schlumberger Limited, Emerson Electric Co., and General Electric Company are some leading valve manufacturers. These prominent players constantly innovate to develop novel valves that meet the evolving needs of end-use industries.
Companies are using advanced materials like superalloys and composites to enhance durability and performance of valves. They are introducing novel solutions tailored to specific applications. Acquisitions, partnerships, and distribution agreements are also becoming popular in the industry.
Recent Developments
In February 2024, Valmet introduced the Neles XH ball valve. This latest addition to X-series ball valve series is designed to deliver benefits across its entire lifecycle. It can be used in safety and throttling services with high pressure differences.
Neles XH metal seated ball valve is targeted toward power plants, oil and gas refining, petrochemical plants, and other industries. It offers improved reliability and life cycle.
Emerson is becoming a leading force in the valves landscape. It is constantly introducing new valves for different applications. In July 2024, the company introduced its AVENTICS Series XV pneumatic valves. These new solutions are intended to offer machine builders across different industries with a cost-effective valve platform.
Series XV valves offer higher flow rates, enabling more efficient and flexible pneumatic system performance for food, packaging, and automation applications. Similarly, in May 2024, Emerson launched new AVENTICS Series 625 Sentronic proportional pressure control valves. These new valves are designed to ensure flexible and accurate control for high-precision manufacturing.
Key Factors Propelling Growth of Valves Industry
Rapid industrialization across the globe is a key factor boosting valves industry growth. Similarly, growing need for efficient flow control solutions is positively impacting sales of valves.
Today, industries like oil & gas, food processing, and manufacturing are expanding rapidly. This is creating a higher demand for reliable and efficient flow control solutions. This is where valves step in.
Valves are ideal for managing the flow of gasses, liquids, and slurries in various applications. Growing adoption of these solutions across diverse industries will likely inform sales growth during the forecast period.
Ongoing technological advances in valve technology are also positively impacting the industry’s expansion. Smart valves are gaining wider popularity across various industries. This is due to their enhanced features like remote monitoring, improved efficiency, and predictive maintenance.
“Continuous innovation in valve materials, design, and automation technologies are leading to enhanced efficiency, performance, and reliability,” says a lead analyst at Coherent Market Insights.
Regional Insights
Asia Pacific holds a prominent share of the global valves industry. This can be attributed to increasing penetration of industrialization across nations like China and India. Similarly, growing demand for efficient flow control products and increasing investments in water and wastewater treatment contribute to sales growth in the region.
