Valves Market Size (2024 - 2029)

Valves Market Analysis

The Valves Market size is estimated at USD 79.90 billion in 2024, and is expected to reach USD 108.20 billion by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).

Valves control the flow and pressure within a system or process. It forms an essential piping system component that conveys liquids, gases, vapors, slurries, etc. Hence, the growing investment in infrastructure development and the automation of industries are driving the growth of the studied market. Rising investments in pipeline infrastructure in the oil and gas sector are expected to boost the installation of industrial valves.

• Additionally, many developing countries are witnessing increased government water supply and sanitation projects, which will likely propel the sales of industrial valves for domestic and agricultural applications. Furthermore, the growth in investments made by various countries to develop the water and wastewater infrastructure is another major factor driving the studied market's growth, as valves are widely used in water and wastewater plants and distribution pipelines. 
• The global valve market has many players offering various solutions targeting applications across various end-user industries. This significantly drives competition among the vendors, encouraging them to develop innovative solutions and adopt unique business strategies to expand their market presence. Hence, the growing market competitiveness is anticipated to drive the studied market's growth further during the forecast period.
• Many companies are leveraging emerging technologies such as artificial intelligence (AI) and industrial Internet of Things (IIoT) to minimize unplanned downtime and other unfavorable incidents due to valve failures. Valves equipped with sensors are also being increasingly adopted to reduce failures and overall maintenance costs. The adoption of these advanced values is expected to boost the market further over the forecast period.
• However, the market players need to comply with the various certifications and policies of different regions concerning valve manufacturing, resulting in diversity in product specifications due to the widespread application of valves in several end-user industries. This acts as a restraint for market growth as the companies have to manufacture products according to the regional policies, making it difficult for them to achieve an ideal installation cost.

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. Valves vary greatly in size, design, function, and operation in various applications.

The valves market is segmented by type (ball, butterfly, gate/globe/check, plug, control, and other types), end-user vertical (oil and gas, power generation, chemical, water and wastewater, mining, and other end-user verticals) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.