November 7, 2024
Valves Market

Valves Market is Driven by Increased Infrastructure Development Projects

The Valves Market plays a crucial role in industrial production processes and infrastructure management. Valves market find widespread application in various industries like oil & gas, water & wastewater treatment, power, mining, and chemicals to control the flow and regulate pressure of liquids and gases. Rapid urbanization and infrastructure development initiatives undertaken by governments worldwide have significantly augmented the demand for valves from the construction sector.

The Global Valves Market is estimated to be valued at US$ 83 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 To 2031.

Valves Market find critical usage in numerous industrial applications ranging from controlling steam, air, water in boiler plants to regulating dangerous gases in chemical plants. They help optimize production processes and ensure safety. Various valve types including gate, globe, check, ball, butterfly are available depending on application requirements. The versatility, reliability, and cost-effectiveness of valves market make them indispensable equipment across industries. The ever-growing need for valves stems from capacity expansions, plant turnarounds, and demand rise from process industries.

Key Takeaways

Key players operating in the Valves Market are Tyson Foods, Inc., JBS S.A., Pilgrim’s Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group. Tyson Foods leads the market with the widest product portfolio and global presence.

Growing industrialization and infrastructure development spending have boosted Valves Market Size consumption. Rapid urbanization in emerging nations is driving large-scale construction of roads, bridges, ports, and other civic infrastructure requiring extensive use of valves market.

Global players are investing heavily and acquiring local manufacturers to expand into lucrative growth markets. Market leaders are focusing on developing innovative valve technologies and customized solutions to consolidate their position. Automation and digitalization of valves market are key trends aiding process optimization.

Market Key Trends

One of the key trends gaining traction in the Valves Market Size and Trends is the rising adoption of smart valves. Smart valves market integrated with sensors and networking capabilities can be remotely monitored and controlled. They provide real-time process performance data enabling predictive maintenance. This helps optimize valve usage, reduce downtime, and enhance safety. Smart valves support automation and Internet of Things-based solutions for remote operations and management across wide-ranging industries.

Porter’s Analysis

Threat of new entrants: Entry of new players will require huge investments in setting up manufacturing units and establishing distribution channels.

 Bargaining power of buyers: Buyers have low bargaining power due to availability of substitute products. Bargaining power of suppliers: Major suppliers have strong bargaining power due to supply of specialized components for valves.

Threat of new substitutes: New substitute products can emerge, if technologies enabling high performance at lower costs are developed.

Competitive rivalry: Intense competition exists among existing players to gain higher market share.

Geographically, North America currently holds the highest market share in valves market, with United States being the major contributor. Asia Pacific is the fastest growing region on account of rising industrialization and infrastructural development activities in countries such as China and India.

The European region holds the second position in terms of valves market share. Germany, United Kingdom, Italy, and Russia have strong manufacturing base for valves used across various end-use industries.

The Valves Market in Latin America is concentrated in Brazil and Mexico owing to increasing oil & gas exploration activities. Africa and Middle East also present untapped growth opportunities for valves market participants over the coming years.

 Unlock More Insights—Explore the Report in the Language You Prefer.

French German Italian Russian Japanese Chinese Korean Portuguese

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

About Author - Ravina Pandya
+ posts

Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

About Author - Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

View all posts by About Author - Ravina Pandya →