Industrial Valves Market is Driven by Increasing Infrastructure Development Projects
The industrial valves market involves the manufacturing and sale of valves that are used to control the flow and pressure of liquids and gases in various industrial processes. Valves find wide application in industries such as oil & gas, power generation, water & wastewater, food & beverages, etc. for controlling, directing or regulating the flow of fluids. The growing need for transportation and distribution of oil & gas across pipelines as well as increasing construction of new oil & gas infrastructure is a major driver for the industrial valves market. Valves help control the pressure and safely distribute fluids in these pipelines.
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.
Key Takeaways
Key players operating in the Industrial Valves are Avcon Controls Private Limited,AVK Holding A/S,Crane Co.,Metso Corporation,Schlumberger Limited.
The industrial valves market is expected to witness significant growth due to the rising Industrial Valves Market Demand for energy and power from developing nations. The increasing investments in infrastructure development coupled with expanding industrial sector in developing regions will continue to drive market growth.
Major players in the market are focusing on expanding their geographical presence across high growth markets such as Asia Pacific and Latin America to leverage potential growth opportunities. Growing demand for automation and rising adoption of valves in various end-use industries like oil & gas, water & wastewater is expected to boost the industrial valves market.
Industrial Valves Market - https://www.coherentmi.com/ind....ustry-reports/indust
