The global industrial valves market is on a robust growth trajectory. Market reports estimate that the market size will increase from $81.55 billion in 2024 to approximately $123 billion by 2034, reflecting a steady CAGR of 4.2% during the forecast period. This growth is fueled by expanding demand across multiple industries, including energy, healthcare, and infrastructure.
Infrastructure and Power Plant Development
The global demand for energy is surging, with electricity needs expected to grow by 75% by 2030. This increase in demand is driving a wave of construction and modernization in power plants, where industrial valves are indispensable. For instance, India is making significant investments in power generation capacity, aiming for 500 GW of renewable energy by 2030. In these projects, industrial valves are crucial for ensuring efficient fluid control in systems like boiler startups, steam conditioning, and turbine bypass operations.
Growing Adoption of High-Quality Industrial Valves
The need to replace outdated valves made from traditional materials like cast iron and basic steel alloys is pushing the adoption of high-quality industrial valves. While durable, these materials often fall short in modern industrial environments characterized by extreme temperatures and corrosive substances.
Today, industries are increasingly turning to valves made from advanced materials such as high-temperature alloys, ceramics, and corrosion-resistant metals. Valves made from Inconel and Hastelloy, for example, are now standard in applications that demand extreme heat resistance, such as power generation and chemical processing. Meanwhile, ceramics, known for their exceptional hardness and wear resistance, are gaining traction in valves exposed to abrasive or corrosive fluids.
Rising Demand from Healthcare and Pharmaceutical Industries
The U.S. pharmaceutical market, estimated at USD 574.37 billion in 2023, is projected to grow at a CAGR of 5.48% from 2024 to 2030. This expansion is driving a surge in demand for specialized valves in the healthcare and pharmaceutical sectors, where maintaining sterility, preventing contamination, and ensuring precise control over fluid and gas flow are paramount.
Sanitary valves, such as hygienic ball valves, sanitary diaphragm valves, and sanitary control valves, have become essential in pharmaceutical production for their ability to meet rigorous hygienic standards. These valves are key in processes like sterile filtration, aseptic filling, and chemical dosing. Additionally, the adoption of pinch valves, which are compatible with SIP (sterilization-in-place) and CIP (cleaning-in-place) processes, and high containment valves, which protect both operators and products, is on the rise.
Rapid Deployment of Connected Networks
The integration of Internet of Things (IoT) and other connected technologies into industrial valves is transforming the market. Smart valves, equipped with sensors and actuators, are increasingly becoming standard in industries that require real-time monitoring and predictive maintenance. Emerson’s Crosby J-Series pressure relief valve, for example, includes bellows leak detection technology, enabling remote monitoring and reducing the risk of downtime. This trend is particularly pronounced in regions like Asia-Pacific, where rapid industrialization and urbanization are driving the adoption of smart valve technologies.
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