North America Industrial Valve Market
North America Industrial Valve Market Size Grows at Significant CAGR of 5.58% to Reach USD 41.8 Billion by 2030
Published | 13 February 2024
North America Industrial Valve Market is flourishing due to an increasing demand in oil & gas, water & wastewater treatment, power generation, and industrial processes, coupled with technological advancements and infrastructure development.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the North America Industrial Valve Market size at USD 30.18 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the North America Industrial Valve Market size to grow at a CAGR of 5.58% reaching a value of USD 41.8 billion by 2030. The North America Industrial Valve Market is driven by robust industrial infrastructure development, increasing energy demand, and expanding applications in sectors like oil & gas, water & wastewater treatment, and power generation. Technological advancements, coupled with a focus on efficiency and environmental regulations, fuel the adoption of advanced valve solutions. The region's emphasis on automation and the rising need for reliable flow control in diverse industries contribute to market growth. Additionally, the shale gas boom and ongoing investments in the manufacturing sector further stimulate the demand for industrial valves, positioning North America as a key market in the global valve industry.
Opportunity – Global trade and the phenomenon of globalization
Global trade and the phenomenon of globalization are driving the expansion of markets. The growth of supply chains, coupled with increased global trade, has led to a heightened demand for industrial valves. These valves play a crucial role in the logistics and shipping sectors, where the transportation, storage, and processing of goods occur. Effectively controlling fluid flow in tanks, containers, and pipelines, valves ensure the safe transportation of various commodities. As global trade volumes increase, the necessity for valves in ports, terminals, warehouses, and transportation networks rises, reflecting the overall surge in demand for industrial valves needed to handle and manage the flow of goods across different regions. Impact of Escalating Geopolitical Tensions on North America Industrial Valve Market
Escalating geopolitical tensions in North America have significant implications for the Industrial Valve Market. Trade disruptions, sanctions, and geopolitical uncertainties can disrupt the supply chain, affecting valve manufacturers and their ability to source materials globally. Instances like the United States-China trade tensions and geopolitical events in the Middle East have led to volatility in oil prices, impacting the demand for industrial valves in the energy sector. Furthermore, sanctions on Russia have influenced the market dynamics, as the country is a key player in the global oil and gas industry. These geopolitical shifts contribute to market fluctuations, influencing investment decisions, and emphasizing the need for industry stakeholders to closely monitor and adapt to changing geopolitical landscapes.
North America Industrial Valve Market
North America Industrial Valve Market – By Components
Based on components, North America Industrial Valve Market is divided into Actuators, Valve Body, Positioners, and I/P Converters segments. The actuators segment is the largest, reflecting the critical role of these devices in controlling valve operations. Actuators play a pivotal role in automating and regulating valve movements, ensuring efficient and precise industrial processes. The dominance underscores the significance of advanced actuation technologies in enhancing the overall performance and functionality of industrial valves in the North American market.
North America Industrial Valve Market – By Material
Based on material, North America Industrial Valve Market is divided into Iron, Ductile, Cast Iron, Carbon Steel, Alloy, Plastic, Brass, Bronze, Copper, Cryogenic, and Aluminum segments. The carbon steel segment dominates the market share, reflecting the industry's reliance on robust and durable materials for valve manufacturing. The segment's significance highlights the prevalent use of carbon steel in industrial valve applications, underscoring its strength and suitability for demanding operational conditions. As industries in North America continue to advance, the prominence of the carbon steel segment underscores the crucial role it plays in ensuring the reliability and efficiency of industrial valves across various sectors.
North America Industrial Valve Market is fiercely competitive. Major companies in the market include Emerson Electric Co., Johnson Controls, Powell Valves, Crane Company, KITZ Corporation, Neway valve, Spirax Sarco Limited, Watts, Dwyer Instruments LTD, and Curtiss-Wright Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the North America Industrial Valve Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of North America Industrial Valve Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in North America Industrial Valve Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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- North America Industrial Valve Market, By Component (Actuators, Valve Body, Positioners, I/P Converters); By Material (Iron, Ductile, Cast Iron, Carbon Steel, Alloy, Plastic, Brass, Bronze, Copper, Cryogenic, Aluminum); By Type (Gate Valve, Globe Valve, Ball Valve, Butterfly Valve, Diaphragm Valve, Check Valve, Plug Valve, Pinch Valve, Needle Valve, Pressure Relief Valve, Safety Valve); By Size (1 Inch to 6 Inch, 6 Inch to 12 Inch, 12 Inch to 24 Inch, 24 Inch to 48 Inch, Above 48 Inch); By Function (On/Off, Control, Isolation, Regulation, Safety Relief Valve, Special Purpose, Non-Return); By Application (Oil & Gas, Building & Construction, Semiconductors, Water & Waste Treatment, Chemical, Energy & Utilities, Food & Beverages, Pharmaceutical, Agriculture, Marine, Automotive, Metals & Mining, Paper & Pulp, Textile, Glass); By Country (United States, Canada, Mexico), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Publish Date: February 2024
Growing industrialization to meet an increasing demand for energy, infrastructure development, technological advancements, and stringent environmental regulations promoting efficient valve solutions drive the growth of the North America Industrial Valve Market during the forecast period between 2024 and 2030.
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