Market Size of United States Valves Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Valve Market Analysis
The United States valves market is expected to grow at a CAGR of 5.4% over the forecast period (2022-2027). The rapidly increasing industrialization and emphasis on process automation in the industries are primary factors driving the market growth.
- The increasing demand for valves in the oil and gas industry and the growing food & beverages processing industry in the country are the major factors boosting the growth of valves. The oil and gas industry is the major consumer of valves in their downstream and upstream process operations.
- However, the lack of standardized policies & certifications and government policies may hinder the market growth. Further, the integration of IIOT technology in industrial valves may create opportunities for market growth.
- The key players in the market are responding to market situations and the gradual transition of end-users to digital solutions by innovating new products such as smart valves, control products, and automatic fluid control systems to augment the use of IIoT. Also, they are shifting from a product-centric approach to strengthening their service offerings to remain competitive in the market.
- For instance, in November 2021, Water filtration firm Rusco launched a new ball valve driven by an app. This Smart Ball Valve pairs easily with Apple and Android devices allowing for program automation and simplifying two primary functions, sediment flushing and flow shut-off, and can be used in home filtration, well water, and commercial and municipal applications.
- The oil & gas industry has been severely affected due to the Covid-19 pandemic as the demand decreased. The decline in oil & gas demand is mainly due to the restrictions by the government. Such factors has hampered the growth of the valves market significantly during the pandemic.
US Valve Industry Segmentation
A valve is a mechanical device that controls the flow of fluids such as liquid, gas, or slurries in a pipe or another enclosure medium. The valves are of different types and have specific functions according to which they are used for various applications in the industries such as oil and gas, chemical, waste and wastewater, and others. United States Valves Market is segmented By Type (Ball, Butterfly, Gate/Globe/Check, Plug, Control), By End-user Vertical (Oil & Gas, Power Generation, Chemical, Water & Wastewater, Mining)
United States Valves Market Size Summary
The United States valves market is poised for significant growth, driven by the rapid industrialization and increasing focus on process automation across various sectors. The oil and gas industry, a major consumer of valves, along with the expanding food and beverages processing sector, are key contributors to this market expansion. Despite challenges such as the lack of standardized policies and the impact of the Covid-19 pandemic, which temporarily hindered market growth, the integration of Industrial Internet of Things (IIoT) technology into industrial valves presents new opportunities. Key industry players are innovating with smart valves and automated fluid control systems, shifting towards service-oriented offerings to maintain competitiveness. The market's recovery post-pandemic is supported by rising crude oil prices and increased investments in oil and gas infrastructure, further bolstering the demand for valves.
The competitive landscape of the United States valves market is characterized by fragmentation, with major players like Emerson Electric Co., Schlumberger Limited, and Flowserve Corporation leading the charge in innovation and strategic partnerships. The growing demand for automation in processing industries is enhancing efficiency and compliance, which in turn is expected to drive valve demand. Government-favored policies and strategic investments in industrial automation, such as those by United States Steel and Carnegie Foundry, are anticipated to further stimulate market growth. The introduction of new products, such as Valtorc International's stainless steel butterfly valve assembly and Belimo Americas' pressure-independent control valve, highlights the ongoing innovation within the market. As the oil and gas industry continues to recover and expand, the valves market is expected to benefit from increased production activities and infrastructure developments.
United States 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 - Porters Five Force Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers/Consumers
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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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United States Valves Market Size FAQs
What is the current United States Valves Market size?
The United States Valves Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in United States Valves Market?
Emerson Electric Co., Schlumberger Limited, Flowserve Corporation, Crane Co. and Rotork Plc are the major companies operating in the United States Valves Market.
