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Europe Industrial Valves Market Size (2024 - 2029)

The European industrial valve market is anticipated to experience growth driven by factors such as population increases and heightened oil and gas exploration activities. The expansion of oil refineries due to rising oil consumption is expected to boost the demand for high-pressure valves that reduce operational waste. Despite the negative impact of the COVID-19 pandemic, which led to decreased demand in the oil and gas sector, the market is poised for recovery as industries reopen and demand for energy rises. Technological advancements in European countries are also contributing to the market's expansion by enhancing process efficiency, necessitating continuous innovation from valve suppliers to meet evolving industry standards.

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Market Size of Europe Industrial Valves Industry

Europe Industrial Valves Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.50 %
Market Concentration Low

Major Players

Europe Industrial Valves Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Industrial Valves Market Analysis

The European industrial valve market is projected to grow at a CAGR of 4.5% during the forecast period. The major factors driving the market are rising population levels in countries and increasing oil and gas exploration. The increased consumption of oil leads to the expansion of oil refineries. As a result of the expansion of oil refineries, there is a greater demand for valves that can withstand high pressure while minimizing operational waste. This factor is expected to propel the market forward.

  • Industrial valves are important in the increasingly complex industrial and working world. Pipelines and hose pipes are required for the transportation of gas, liquids, and freely flowing solids in nearly every industry, including the production of natural gas and crude oil, as well as in the fields of medicine and water treatment.
  • European countries' technological development has shaped creative answers that can increase process plants' efficiency by streamlining their operations. Valve suppliers must keep creating products and procedures that meet these new challenges as industry standards change and evolve.
  • Furthermore, the COVID-19 outbreak had a significant negative impact on European nations, notably the United Kingdom. Due to falling oil prices in the first quarter of 2020, the economies of several countries in the region suffered, and business activity in the oil and gas sector decreased. Many European nations have partially closed their borders as part of drastic measures to restrict imports, exports, and the movement of goods. Such factors slowed down the growth of the market.
  • However, the United Kingdom stood out favorably among the most significant customer nations, according to VDMA Valves Association. Industrial Valves exports to the United Kingdom increased by 15.7% to EUR 100 million (USD 104.89 million ) in H1 2022 from H1 2021. The number of shipments from Switzerland increased significantly by 14.3%. The number of exports was EUR 85.4 million (USD 89.57 million). Additionally, exports to France increased by 4.4%. With a volume of EUR 138.7 million (USD 145.48 million) for industrial Valves in H1 2022 compared to H1 2021, the nation maintains its third-place ranking among the most significant sales markets.
  • Additionally, the demand for energy and the E&P (exploration and production) of oil and gas activities are increasing as many nations start to reopen their industries, fostering the expansion of the European industrial valve market. With businesses investing in boosting productivity and efficiency, it is anticipated that by the end of 2022, demand for industrial valves will have recovered due to the increase in vaccination campaigns.
  • Additionally, the COVID-19 outbreak has caused a global economic crisis. The pandemic drastically reduced oil prices, which negatively impacted the oil and gas sector and resulted in low demand for industrial valves. There is less scope for storage space for extracted oil among major oil producers, and demand is falling. According to BP's Statistical Review of World Energy 2021, improvements in road mobility resulted in a 13% (3.1 Mb/d) decrease in gasoline demand.

Europe Industrial Valves Industry Segmentation

Industrial valves are mechanical components that control the flow of liquid or gas within a system by opening, closing, or partially disrupting passageways. The industrial valve market is segmented into four groups based on type, product, application, and country. Butterfly valves, ball valves, globe valves, gate valves, plug valves, and other types are available on the market.

In addition, the market is divided into power, water and wastewater management, chemicals, oil and gas, and other applications such as food processing, mining, and marine. The European market is divided into the United Kingdom, Germany, France, and the rest of Europe. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments. The study also assesses the impact of COVID-19 on the market.

By Type
Globe Valve
Ball Valve
Butterfly Valve
Gate Valve
Plug Valve
Other Types
By Product
Quarter-turn Valve
Multi-turn Valve
Other Products
By Application
Power
Water and Wastewater Management
Chemicals
Oil and Gas
Other Applications (includes Food Processing, Mining, and Marine)
By Country
Germany
United Kingdom
France
Rest of the Europe
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Europe Industrial Valves Market Size Summary

The European industrial valve market is experiencing a steady growth trajectory, driven by factors such as increasing population levels and heightened oil and gas exploration activities. The expansion of oil refineries, necessitated by rising oil consumption, is significantly boosting the demand for high-pressure valves that minimize operational waste. Industrial valves play a crucial role in various sectors, including natural gas and crude oil production, medicine, and water treatment, by facilitating the transportation of gases, liquids, and solids. The market is also witnessing technological advancements that enhance process plant efficiency, prompting valve suppliers to innovate in response to evolving industry standards. Despite the challenges posed by the COVID-19 pandemic, which temporarily disrupted market growth due to falling oil prices and reduced business activity, the market is rebounding as countries reopen and demand for energy and exploration activities increases.

The butterfly valve segment within the European industrial valve market is particularly expanding, driven by rapid urbanization, industrialization, and the rising demand for renewable energy. Butterfly valves are favored for their cost-effectiveness, reliability, and efficiency in handling slurries and corrosive liquids, making them highly sought after in water supply and treatment facilities. The market is also benefiting from stringent EU regulations aimed at controlling emissions and gas leaks across various industries. Key players in the market, such as Danfoss AS, Schlumberger Ltd, and Flowserve Corporation, are actively expanding their presence through strategic acquisitions and collaborations, further intensifying competition. Initiatives like the development of new gas pipelines and the construction of gas fields in response to geopolitical tensions are expected to bolster the market's growth prospects in the coming years.

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Europe Industrial Valves Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Buyers

      2. 1.2.2 Bargaining Power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Globe Valve

      2. 2.1.2 Ball Valve

      3. 2.1.3 Butterfly Valve

      4. 2.1.4 Gate Valve

      5. 2.1.5 Plug Valve

      6. 2.1.6 Other Types

    2. 2.2 By Product

      1. 2.2.1 Quarter-turn Valve

      2. 2.2.2 Multi-turn Valve

      3. 2.2.3 Other Products

    3. 2.3 By Application

      1. 2.3.1 Power

      2. 2.3.2 Water and Wastewater Management

      3. 2.3.3 Chemicals

      4. 2.3.4 Oil and Gas

      5. 2.3.5 Other Applications (includes Food Processing, Mining, and Marine)

    4. 2.4 By Country

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 France

      4. 2.4.4 Rest of the Europe

Europe Industrial Valves Market Size FAQs

The Europe Industrial Valves Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)

Danfoss A/S, Sirca International, Emerson Electric Co., Schlumberger Limited and Flowserve Corporation are the major companies operating in the Europe Industrial Valves Market.

Europe Industrial Valves Report Snapshots

Europe Industrial Valves Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)