The North America Industrial Valve Market Size Was Valued at USD 17,234.80 Million in 2022, and is Projected to Reach USD 29,834.72 Billion by 2030, Growing at a CAGR of 7.1% From 2023-2030.
The North American commercial valve market reviews giant boom driven by using demand from oil drilling and gasoline extraction activities. Valves are crucial in regulating fluid go with the flow in diverse oil and fuel operations, which include drilling, refining, and pipeline networks. The rise in exploration, in particular in unconventional reserves like shale gas, increases the need for durable valves capable of withstanding harsh situations. Emphasis on performance, protection, and environmental compliance similarly boosts demand for superior valves meeting industry standards. Expanding pipeline networks and improvements in drilling technology underscore the necessity for dependable valves enduring high pressures and corrosive environments. The symbiotic dating between the developing oil and gasoline sector and call for for classy valves fuels market increase. With North America’s oil manufacturing attaining document highs, the demand for industrial valves throughout extraction, refining, and distribution tactics keeps to rise, highlighting the need for contemporary answers making sure protection and efficiency.
The North American industrial valve market sees sizable growth opportunities with the shift in the direction of renewable power sources. As the area emphasizes sustainability and decreases reliance on traditional fuels, the expansion of renewable electricity infrastructure drives call for for business valves. Sectors like wind, sun, and hydroelectric electricity require valves for various packages. Wind farms rely on valves for hydraulic structures, turbine manipulate, and gearbox lubrication, even as solar flowers use them in warmness switch fluids and cooling systems. Hydroelectric facilities utilize valves for coping with water glide and turbine operations. Additionally, the emergence of electricity storage systems gives valve implementation opportunities in garage tanks and control systems. The renewable electricity quarter’s particular needs call for valves able to dealing with various pressures, temperatures, and sustainable fluids, presenting a promising growth road for specialized valves that enhance operational performance and align with sustainable practices in North America.
Industrial valvesย are essential components across industries, regulating fluid, gas, or slurry flow to ensure operational efficiency and safety. As global industrialization surges, particularly in emerging economies, demand for valves rises to support expanding sectors. Advanced valve technology continuously evolves, with innovations in design, materials, and manufacturing processes driving market growth. These advancements result in valves capable of withstanding high pressures, operating in challenging conditions, and offering superior efficiency and durability. Industrial valves play a pivotal role in managing diverse substances and enabling precise control, making them indispensable in ensuring smooth operations across industries such as oil and gas, chemical manufacturing, power generation, and water management. Their adaptability and technological enhancements cater to evolving industrial needs, contributing to the seamless functioning of industrial processes worldwide.
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The North America Industrial Valve Market Size Was Valued at USD 17,234.80 Million in 2022, and is Projected to Reach USD 29,834.72 Billion by 2030, Growing at a CAGR of 7.1% From 2023-2030.
The Industrial Valve Market Segmentation:
By Type
-
- Ball
- Globe
- Gate
- Butterfly
- Plug
- Check
By Material
-
- Steel
- Brass
- Bronze
- Cast Iron
- Plastic
By Size
-
- < 1โ
- 1โโ6โ
- 6โโ25โ
- 25โโ50โ
- 50โ
By Application:
-
- Oil & Gas
- Power
- Energy
- Chemical
- Water & Waste Treatment
By Function:
-
- On/Off
- Control
- Isolation
- Special Purpose
The Industrial Valve Market Report highlights:
-
- By Type,ย the ball valve, segment is Anticipated to Dominate the Market Over the Forecast period, The Ball Valve segment is expected to dominate the North American industrial valve market due to its versatile applications, reliability, and ease of operation. These valves are preferred for their ability to handle high pressures, temperatures, and corrosive fluids across industries such as oil and gas, chemical processing, and water treatment. Advancements in design have improved efficiency and durability, maintaining their appeal.
- By Application, the Oil & Gas segment is poised to lead the In the North American industrial valve market, the Oil & Gas segment holds the largest market share due to its critical reliance on valves for various operations. Valves are essential for oil drilling, refining, pipeline transportation, and storage. The sector’s complex operations require valves capable of withstanding high pressures, temperatures, and corrosive environments. With ongoing exploration of shale gas and unconventional resources, demand for specialized valves remains high. As the industry seeks efficient and technologically advanced solutions, the Oil & Gas segment maintains its leading position in driving market growth.
- By Region,ย United States is Expected to Dominate the Market Over the Forecast Period. The United States is expected to maintain its dominance in the North American industrial valve market due to its robust industrial infrastructure, focus on technological advancements, and significant investments in various sectors including oil and gas, chemical manufacturing, power generation, and water treatment. The shale gas revolution has also contributed to increased demand for industrial valves in the oil and gas sector. Stringent regulatory standards emphasizing safety and environmental compliance further bolster the country’s position. With its diverse industrial landscape and commitment to innovation, the United States is poised to continue leading the North American industrial valve market.
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Key Industry Development:
In October 2023, LINDAL Group has invested in new Bag-on-valve manufacturing lines in Europe and North America to meet increasing customer demand. In Europe, new production lines focus on boosting efficiency, while in North America, investments aim to better serve regional customers. These strategic moves highlight LINDAL’s commitment to meeting market demands and positioning itself for growth in BOV solutions.
In March 2023, Flowserve has announced its plans to acquire Velan in a cash transaction valued at around $245 million (C$329 million). This acquisition signifies a significant move within the industry, with Flowserve aiming to expand its portfolio through this strategic investment. By acquiring Velan, Flowserve seeks to bolster its market position and enhance its offerings in the valve sector.
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