Market Size of Europe Valves Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 4.40 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Europe Valves Market Analysis
The Europe Valves Market is expected to grow at a CAGR of 4.4% during the forecast period, 2022-2027. The increased use of valves for various applications in the end-user industries, along with the growing emphasis on power, water, and wastewater in emerging markets, is driving the Europe valves market over the forecast period.
- Industrial valves play a vital role in the increasingly complex industrial and working world. Pipelines and hose pipes are necessary everywhere, in crude oil and natural gas production and in nearly all areas of industry, including medicine and water treatment, as well as in engines, machinery, and plant engineering, the conveyance of gas, fluids, and free-flowing solids.
- Advancements in technology have shaped innovative solutions that can improve process plants to become increasingly efficient by streamlining their operations. As industry requirements evolve and change, valve suppliers are expected to continue developing products and processes that address these new challenges.
- The Government in the region is taking various initiatives and opting for different strategies to boost the demand for valves. For instance, in June 2022, the new EU solar strategy published by the European Commission stated that the rooftop solar photovoltaic(PV) would help in turning the gas valves off.
- Moreover, companies are regulalry coming up with new innovations to keep up with the market demand. For instance, in Feb 2021, COSMOIND Co. Ltd, a PE pipe manufacturer has launched new products of BF fitting, EF fitting and ball valves. The company is also fully certified to ISO 9001, ISO 14001, CE, GB, TUV, NSF, KS, KC, KFI and G-Pass.
- Further, the outbreak of COVID-19 has resulted in an economic crisis across the world. The pandemic severely affected the oil and gas industry, with oil prices slashed. Significant oil producers are running out of storage space for extracted oil, and the demand is declining. According to BP's Statistical Review of World Energy 2021, gasoline demand decreased by around 13% (3.1 Mb/d) due to road mobility measures. Moreover, products closely related to the petrochemicals sector (ethane, naphtha, and LPG) were largely flat, supported partly by increasing demand for medical and hygiene-related supplies such as PPE.
Europe Valves Industry Segmentation
Valves are mechanical devices that help control fluid flow in motors, plumbing, irrigation, pneumatic and hydraulic systems. They can also regulate and direct the flow of a fluid by opening, closing, or partially obstructing various passageways. Used in various applications, valves vary greatly in size, design, function, and operation.
The study considers the revenue generated from the sale of various types of valves, including ball, butterfly, gate/globe/check, plug, control, among others. Moreover, the study also covers the various industries wherein these valves are utilized across the key countries within Europe. These industries include oil & gas, Power Generation, Chemical, Water & Wastewater, and Mining, among others.
By Type | |
Ball | |
Butterfly | |
Gate/Globe/Check | |
Plug | |
Control | |
Other Types |
By End-user Industry | |
Oil & Gas | |
Chemicals | |
Water & Wastewater | |
Power Generation | |
Mining | |
Other End-user Industries |
By Country | |
United Kingdom | |
Germany | |
France | |
Rest of the Europe |
Europe Valves Market Size Summary
The Europe valves market is poised for growth, driven by the increasing application of valves across various end-user industries and a heightened focus on power, water, and wastewater management in emerging markets. Industrial valves are integral to the complex industrial landscape, facilitating the conveyance of gas, fluids, and solids in sectors such as oil and gas, medicine, and water treatment. Technological advancements are fostering innovative solutions that enhance the efficiency of process plants, prompting valve suppliers to develop products that meet evolving industry demands. Government initiatives, such as the EU solar strategy, and corporate innovations, like those from COSMOIND Co. Ltd, are further propelling market growth. However, the COVID-19 pandemic has posed challenges, particularly in the oil and gas sector, impacting demand and pricing.
The control valve segment is experiencing growth due to the increasing need for wireless infrastructure, automation, and the expansion of process industries. Companies are actively pursuing acquisitions and partnerships to strengthen their market presence, as seen with Helios Technologies and Burkert Fluid Control Systems. The renovation and expansion of refineries in Europe, alongside significant pipeline projects, are expected to boost valve demand. Initiatives like the construction of a gas pipeline from Morocco to Europe and the development of a new gas field in the North Sea underscore the region's efforts to diversify energy supplies. The market is competitive, with major players like ITT Inc., Emerson Electric Co., and General Electric dominating, while ongoing technological innovations and strategic acquisitions continue to shape the landscape.
Europe Valves Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Ball
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2.1.2 Butterfly
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2.1.3 Gate/Globe/Check
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2.1.4 Plug
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2.1.5 Control
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2.1.6 Other Types
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2.2 By End-user Industry
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2.2.1 Oil & Gas
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2.2.2 Chemicals
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2.2.3 Water & Wastewater
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2.2.4 Power Generation
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2.2.5 Mining
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2.2.6 Other End-user Industries
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2.3 By Country
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2.3.1 United Kingdom
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2.3.2 Germany
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2.3.3 France
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2.3.4 Rest of the Europe
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Europe Valves Market Size FAQs
What is the current Europe Valves Market size?
The Europe Valves Market is projected to register a CAGR of 4.40% during the forecast period (2024-2029)
Who are the key players in Europe Valves Market?
Danfoss A/S, Emerson Electric Co., Flowserve Corporation, ITT Inc. and Honeywell International Inc. are the major companies operating in the Europe Valves Market.