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The Industrial Valves Market is projected to reach
US$95.5 billion by 2027, growing at a CAGR of 6.8% during the forecast period
2022-2027. Industrial valves are used across various industries to upgrade
production systems with intelligent features to enhance productivity. The
automation feature of industrial valves is a major advancement that increased
their efficiency and reliability. The oil and gas industry widely uses
industrial valves due to their smart and reliable features for various
applications including downstream and upstream process applications. It ensures
the continuous and secure functioning of the pipelines. In April 2022, RF valve and aiRFlex announced the new pinch
valves with advanced elastomer tube fold design. It is ideal for use in
different industries, including oil & gas, chemical and power.
The check valve segment, by valve type in the Industrial Valves Market, is expected to grow the fastest at a CAGR of 8.5% from 2022-2027.
The check valve is widely utilized across
various industries to ensure the safety and continuous functioning of pipes and
HVAC systems in manufacturing lines. The check valves are one-directional
valves that efficiently stop the process backflow of liquids which can cause severe
damage to system hardware. Smart check valves with unidirectional features are
in high demand with the increasing popularity of oil & gas, chemical, power and
wastewater management industries globally. This is driving the demand for
industrial valves and leading to market growth. In March 2022, Sulzer Ltd.
launched new check valves made from cast iron for horizontal or vertical
discharge lines. It has a silent shut-off and is ideal for application in
sewage industries.
Asia-Pacific is expected to account for the largest
share of 33%, in terms of revenue, in 2027. Industrial Valves are widely used
in this region for upgrading industrial setups with advanced technologies that
would help production lines to run smoothly with the least amount of downtime.
Industrial valves are in great demand in this region as a result of the
expanding number of oil and power plant projects being developed with the
region's rising energy needs. According to a report by Global Data, 512
petrochemical projects are anticipated to start in China between 2021 and 2025,
making up 76% of all projects along the country's entire oil and gas
value chain. The projects are aimed to tackle the high energy demands of this
region. In July 2020, Neles announced the
opening of its new
valve technology center in Jiaxing, China. The new plant strengthens Neles
valve product production capabilities by making more than 100,000 valves annually. Neles has also recently
established valve production centers in South Korea, Saudi Arabia and India.
The new plant would address the growing demand for industrial valves and expand the
range of process industries in China and throughout other Asian countries where
Industrial Valves are available to clients.
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- The
widescale adoption of Industrial Valves in water and
wastewater treatment industries to upgrade pipeline infrastructures with
efficient control systems:
The water and wastewater treatment sectors
mostly use Industrial Valves to modernize pipeline infrastructures and set up
reliable control systems to prevent line failure. Industrial valves stop the process
backflow of liquids and prevent leakage in pipelines. It ensures the safety of network
infrastructures by preventing unwanted leakage from the pipelines and helps in
avoiding life-threatening accidents. Industrial valves have significant
demand in the water and wastewater treatment sectors as it is an essential
component of the pipeline infrastructure which ensures their uninterrupted
functioning. In May 2022, Sulzer Ltd. announced the new check valve type ABS
made from cast iron/plastic for various discharge lines by following
EV-12050-4 standards. They have self-cleaning effects and 100% sealing and are
specifically designed for use in waste and wastewater treatment industries.
The
Major Players in this Market Include
Major players in the Industrial Valves Market include Siemens AG, Emerson Electric Co., General Electric Company, Sulzer Ltd. and RF Valves, Inc. In August 2022, RF Valves introduced Pneumatic Pinch valves with enhanced performance and optimal durability. They are made up of ductile iron. They can be used in various industries, including food and beverage & chemical industries.