Global Industrial Valves Market Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027

 

Valves Market

Valves Market

Valve manufacturers must follow the various valve certifications and policies of various regions. This factor leads to a wide range of product specifications because valves are widely used in a variety of industries. This variety, however, is impeding the growth of the valves market because industry participants are required to modify the same product in accordance with regional policies, This makes it difficult for valve manufacturers to achieve an ideal installation cost. To address this problem, they must invest resources in establishing manufacturing facilities across regions, which will necessitate additional capital investments.

The global Valve Market was accounted for US$ 72,862.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 6.8% for the period 2019-2027.

In 2020, steel industrial valves had the largest market share. Steel industrial valves are currently being driven by rising demand for high-quality industrial valves to mitigate the threat of contamination in the food and beverage, chemicals, pharmaceutical, and metals and mining industries, and a similar trend is expected to be observed during the forecast period. Furthermore, rising sanitation concerns will drive the market for stainless steel valves in water and wastewater treatment plants, as longer-lasting stainless steel valves can withstand harsh temperatures, chemicals, and Because of their corrosion resistance, they can withstand high pressures and hard water conditions. Stainless steel outperforms other materials in terms of pressure rating and temperature tolerance, such as cast iron, ductile iron, brass, and copper. 

Because of the growing emphasis on precise positioning and automation of industrial valves, automation in control valves has made significant advances. Control valves employ a valve positioner, which converts electrical signals to pneumatic signals to control the valve's actuator. As a result, automation in the valve positioner provides greater efficiency, lower energy consumption, and increased reliability, fueling the global growth of the industrial valves market.

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