Industrial valves are devices that control the flow and pressure of liquids, gases, and slurries within a system. They are used in a wide range of applications. Industrial valves differ considerably in size, design, function, and operation. Following are the basic types of valves used across major industries:
Gate valves: Used to start and stop the flow of liquid and gases
Globe valves: Used to start, stop and regulate the flow
Ball valves: Used to start, stop or throttle flow
Plug valves: Used to stop and start fluid flow
Diaphragm valves: Used to start, regulate, and stop fluid flow
Reducing valves: Automatic valves that reduce supply pressure to a preselected pressure
Pinch valves: Used to cut off the flow through the system by a pinching mechanism
Butterfly valves: Used in on-off and throttling systems
Needle valves: Used mostly where fine adjustments in the amount of fluid flow are required
Check valves: Used in systems employing gate valves to prevent the reversal of flow in the piping system
Relief and safety valves: It is a relief valve that only opens to prevents over-pressurization
Globe valves are the most common valves used to control the flow in a pipeline due to their better full-closing characteristics, shorter opening and closing time, positive shut-off.
The global industrial valves market is valued at USD 50 billion in 2020 and it is expected to grow at a CAGR of 12% from 2020 to 2025 due to high demand from the pharmaceutical and healthcare industry post-Covid-19. Industrial valves are used in manufacturing different types of medical devices. Moreover, the rising concern for better sanitation and increasing fresh investments in water supply and sanitation projects after the pandemic creates significant opportunities for the valves manufacturers in the water & wastewater treatment industry.
The valve body or enclosure, of the industrial valve, is often the largest component and hence the raw materials used in building the body are the major cost driver. Several raw materials can be used to build the body of an industrial valve based on its application. However, ductile iron, carbon steel are the most preferred raw materials in industrial valve manufacturing. Raw material cost accounts for more than 50% of the total manufacturing cost of industrial valves.
One of the major constraints that the market faces is the lack of standardization norms and governing policies. Different regions have different certifications and policies creating diversity in demand due to the wide applicability of valves in various industries. However, this diversity is curbing the growth of the valves market as industrial valves manufacturers have to alter the same product according to the regional policies, which makes it difficult for them to achieve a cost-benefit on installation.
Emerson, Cameron – Schlumberger, Flowserve, IMI Plc, Metso, Alfa Laval AB, Curtiss-Wright Corp, The Weir Group Plc, and General Electric are the key manufacturer of industrial valves. The industrial valves feature a highly fragmented competitive landscape and several small players are entering the market. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.
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