The Canada Industrial Valve Market size was reasonably estimated to be approximately USD 8.45 Billion in 2022 and is poised to generate revenue of over USD 13.17 Billion by the end of 2030, projecting a CAGR of around 5.7 % from 2023 to 2030.
Industrial valves are crucial mechanical devices used to regulate fluid flow in diverse industries. They control liquids, gases, or suspensions, ensuring smooth operation and safety. Valves come in various types, including globe, gate, and butterfly, and are operated manually or automatically using pneumatic, electric, or hydraulic methaods. Their role is to enhance industrial processes and mitigate potential hazards by optimizing flow rate and pressure.
- The industrial valve market in Canada has continued to grow from several industries such as oil and gas, power generation, water and wastewater treatment, mining, and chemical. Industrial valves play a key role in regulating the flow of liquids and gases in these sectors, making them essential for efficient operation.
- The oil and gas industry has traditionally been one of Canada’s largest users of industrial valves, with exploration, extraction, processing and transportation operations requiring a variety of valve types and sizes. The power generation sector was also an important market factor, as there is a demand for valves in thermal, hydro and nuclear power plants.
- In recent years, the Canadian government’s focus on environmental sustainability and increased investment in renewable energy sources may have led to a shift in demand towards more environmentally friendly valve solutions, such as those used in wind and solar energy projects.
Top Key Players: Velan Inc. (Canada), Cameron Canada (Canada), WKM Canada (Canada), Bray Controls Canada (Canada), Tyco Valves & Controls Canada (Canada), Flowserve Canada (Canada), Pratt & Whitney Canada (Canada), Sure Flow Equipment Inc. (Canada), A.R.I. Valve Corporation (Canada), Canadian Valve and Fittings Ltd. (Canada), Quadrant Valve & Actuator Ltd. (Canada), Marwin Valve Canada (Canada), Canadian Process Technologies Inc. (Canada), Amco Manufacturing Ltd. (Canada), Nutech Valve Automation Inc. (Canada), Canox Welding Systems Ltd. (Canada), CIRCOR Energy Products Canada Inc. (Canada), Alfa Laval Canada Inc. (Canada), W&O Canada (Canada), Powell Valve Canada (Canada) and other major key players.
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The Industrial Valve Market Trend Analysis
Safety-Driven Valve Investments Due to Regulations
- Strict regulations have forced Canadian industries to prioritize safety and environmental compliance, which has increased investment in quality valves. These regulations are established to protect workers, the public and the environment from potential hazards and risks associated with industrial activities. As a result, companies must implement safety measures that meet or exceed industry standards, and industrial valves play an important role in ensuring safe and controlled processes.
- Investing in quality valves gives companies confidence that their operations follow the necessary safety protocols and environmental guidelines. These valves are designed to withstand harsh conditions, minimize leakage or malfunction, and ensure reliable operation over a long service life. With such valves, the industry can reduce the likelihood of accidents, equipment failures and environmental mishaps, thus avoiding potential liabilities and legal consequences.
- These security-focused investments promote a culture of responsible and sustainable business practices. Industries that prioritize safety and environmental protection demonstrate their commitment to the well-being of their employees, the communities around them, and the general environment. This not only improves their reputation but can also attract environmentally conscious customers and partners, which can lead to new business opportunities and increase the trust of stakeholders.
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Automation Drives Demand for Smart Valves
- The increase in automation and the introduction of Industry 4.0 principles have created a significant demand for intelligent valves with advanced control and monitoring capabilities. Smart valves are equipped with integrated sensors, actuators and communication technology that allow them to communicate with automated systems and central control platforms. These smart valves can collect real-time data on flow rates, pressure, temperature and other critical parameters, enabling precise process control and optimization.
- The benefits of smart valves lie in their ability to make operations more efficient, reduce downtime and improve safety in various industries. Automated systems allow smart valves to dynamically respond to changing conditions and adjust their settings to maintain optimal performance.
- As companies across industries strive to streamline operations and embrace the benefits of automation, the use of smart valves is expected to increase, further contributing to the shift to intelligent and interconnected industrial processes.
Segmentation Analysis of The Industrial Valve Market
Industrial Valve market segments covers the Type, application, and end-users. By Application, Oil & Gas segment is Anticipated to Dominate the Market Over the Forecast Period.
- The oil and gas segment of the Canadian industrial valve market is a key sector that encompasses various activities related to the exploration, production, transportation, processing and distribution of oil and natural gas resources. Canada is a major producer of these hydrocarbons and has significant reserves in areas such as the Alberta oil sands and offshore reserves on the east and west coasts.
- In this segment, industrial valves play a vital role in controlling the flow of oil and gas during production and distribution processes. Valves are used in various applications such as well control, pipeline transportation, storage tanks, refineries and petrochemical processing plants.
- The growth of the oil and gas segment in the Canadian industrial valve market is influenced by factors such as global energy demand, oil and gas prices, investment in exploration and production activities and development of pipeline infrastructure. As Canada remains a major player in the global energy market, the demand for industrial valves in the oil and gas segment remains an important part of the country’s industrial infrastructure.
Country Analysis of The Industrial Valve Market
Alberta is Expected to Dominate the Market Over the Forecast Period.
- The industrial valve market in Alberta, Canada is important because the province plays an important role in the country’s oil and gas industry. Alberta has vast oil sand reserves and a significant share of Canada’s oil and natural gas production. As a result, the demand for industrial valves in the region is significantly high, serving various critical applications in the oil and gas value chain.
- In Alberta’s oil and gas industry, industrial valves are used in drilling, well control, transportation pipelines, refineries and petrochemical processing plants. Because these applications are rigorous and demanding, the valves used must meet strict safety and performance standards.
- Alberta’s industrial valve market is not solely dependent on the oil and gas industry. The province’s diverse economy also includes other industries such as water and wastewater treatment, power generation, mining and manufacturing, all of which require industrial valves to operate efficiently.
Covid-19 Impact Analysis on Industrial Valve Market
- The COVID-19 pandemic has had several negative impacts on the Canadian industrial valve market. As the pandemic has caused widespread shutdowns, travel restrictions and supply chain disruptions, several industries that rely on industrial valves, such as oil and gas, manufacturing and construction, have experienced a slowdown. As a result, demand for valves decreased due to project delays and cancellations.
- The financial uncertainty caused by the pandemic has caused many companies to postpone their investment plans, including investments in new valves or valve replacement projects. The drop in demand has put financial pressure on valve manufacturers and suppliers, leading to reduced revenues and possible job losses in the industry.
- The pandemic also affected international trade and export-import, which affected the availability of raw materials and components needed in valve production. As a result, supply chain disruptions and material shortages have increased production and delivery delays, affecting the overall performance of the Canadian industrial valve market during the COVID-19 crisis.
Top Key Players Covered in The Industrial Valve Market
- Velan Inc. (Canada)
- Cameron Canada (Canada)
- WKM Canada (Canada)
- Bray Controls Canada (Canada)
- Tyco Valves & Controls Canada (Canada)
- Flowserve Canada (Canada)
- Pratt & Whitney Canada (Canada)
- Sure Flow Equipment Inc. (Canada)
- A.R.I. Valve Corporation (Canada)
- Canadian Valve and Fittings Ltd. (Canada)
- Quadrant Valve & Actuator Ltd. (Canada)
- Marwin Valve Canada (Canada)
- Canadian Process Technologies Inc. (Canada)
- Amco Manufacturing Ltd. (Canada)
- Nutech Valve Automation Inc. (Canada)
- Canox Welding Systems Ltd. (Canada)
- CIRCOR Energy Products Canada Inc. (Canada)
- Alfa Laval Canada Inc. (Canada)
- W&O Canada (Canada)
- Powell Valve Canada (Canada)
Key Industry Developments in the Industrial Valve Market
In February 2023, Flowserve Corporation and Velan Inc. reached a definitive agreement on a cash transaction valued at approximately $245 million (C$329 million). The agreement includes the purchase of all issued and outstanding shares of Velan for approximately $209 million ($281 million) and the assumption of approximately $36.3 million ($48.9 million) in gross debt by November 30, 2022.
In November 2021, Alfa Laval signed a contract to supply a decanter to a water treatment plant in a major Canadian city. Decanters are responsible for treating domestic sewage sludge and preparing it for further treatment. The facility is the second largest in the country and serves approximately 1.4 million residents by treating the city’s wastewater.
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