Report Overview

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.

North America Industrial Valve Market – Industry Trends & Forecast Report, 2030

North America Industrial Valve Market size was estimated at USD 30.18 billion in 2023. During the forecast period between 2024 and 2029, the size of North America Industrial Valve Market is projected 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 and gas, water and 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.

Industrial Valves – Overview

Industrial valves are essential components in various manufacturing processes, controlling the flow of liquids, gases, and slurries. Designed to regulate, isolate, or direct the flow within pipelines, these valves play a crucial role in diverse industries such as oil & gas, petrochemicals, water treatment, and power generation. They come in different types, including gate, globe, ball, and butterfly valves, each serving specific purposes. Precision and reliability are paramount, ensuring safe and efficient operations. As technology advances, smart valves with monitoring capabilities are becoming prevalent, contributing to enhanced control and automation in industrial settings.

North America Industrial Valve Market

Growth Drivers

Industrial Expansion Drives Market Growth

The North America Industrial Valve Market is propelled by the expanding oil and gas, petrochemicals, power generation, water treatment, and manufacturing industries. The demand for valves is spurred by their integral role in regulating fluid flow, maintaining pressure and temperature, and preventing leakage. With industries increasingly relying on valves for efficient operations, the market experiences growth through the continual expansion of these sectors. The demand is not just for basic valve functions but extends to supporting complex operations, including fluid modulation and safeguarding against backflow. Infrastructure development and industrial activities directly correlate with the escalating demand for industrial valves.

Technological Advancements Propel Market Expansion

The growth of the North America Industrial Valve Market is significantly influenced by ongoing technological developments in valve design, materials, and automation. These advancements introduce features enhancing performance, reliability, and control, optimizing fluid flow for reduced energy consumption and improved efficiency. Advanced materials contribute to increased durability, corrosion resistance, and compatibility with diverse fluids. Automation technologies facilitate remote operation, monitoring, and integration with control systems, thereby enhancing overall process control and efficiency. Industries actively seek to leverage these technological strides by upgrading existing valves or investing in new ones, aiming to boost performance, curtail maintenance costs, and optimize processes for heightened productivity and operational excellence.

Challenges

Intricacies of Applications Limit Development

The North America Industrial Valve Market encounters a significant hindrance in its development due to the intricacies of its applications. Industrial processes involving abrasive media, corrosive fluids, and high temperatures pose challenges that demand specialized valves for reliable performance and longevity. However, obtaining these valves is a complex task as they need to be crafted from robust materials, feature advanced sealing mechanisms, and undergo rigorous testing. The scarcity and elevated costs of such specialized valves present challenges for industries, requiring meticulous consideration and strategic planning to address the demands of intricate applications. The market players need to navigate these obstacles to ensure sustained growth.

Impact of Escalating Geopolitical Tensions on North America Industrial Valve Market

Escalating geopolitical tensions have significant implications for the North America 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 Europe and 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

Segmental Coverage

North America Industrial Valve Market – By Component

Based on component, North America Industrial Valve Market is divided into Actuators, Valve Body, Positioners, and I/P Converters segments. The actuators segment is the largest component, 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 within 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, 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 – By Type

By type, North America Industrial Valve Market is divided into Gate Valve, Globe Valve, Ball Valve, Butterfly Valve, Diaphragm Valve, Check Valve, Plug Valve, Pinch Valve, Needle Valve, Pressure Relief Valve, and Safety Valve segments. The ball valve segment holds the highest market share in the North America Industrial Valve Market. Ball valves play a significant role in fluid control systems due to their versatile applications across industries. The ability to provide reliable shut-off and efficient control of fluid flow makes them widely adopted in industrial settings. Therefore, the ball valve segment holds a prominent position within the North American market, contributing significantly to the overall industrial valve industry in the region.

North America Industrial Valve Market – By Size

Based on size, North America Industrial Valve Market is divided into 1 Inch to 6 Inch, 6 Inch to 12 Inch, 12 Inch to 24 Inch, 24 Inch to 48 Inch, and Above 48 Inch segments. The above 48 Inch segment dominates the market share, indicating a significant demand for industrial valves with sizes exceeding 48 inches in North America. This suggests a notable presence of industries or applications requiring larger valves within the region.

North America Industrial Valve Market – By Function

Based on function, North America Industrial Valve Market is divided into On/Off, Control, Isolation, Regulation, Safety Relief Valve, Special Purpose, and Non-Return segments. The control valve is the largest function segment, reflecting the significance of valves used for precise control and management of fluid flow in various industrial processes across North America. The segment's prominence underscores the growing demand for specialized valves that play a crucial role in regulating and optimizing operations in diverse industries in the region.

North America Industrial Valve Market – By Application

Based on application, North America Industrial Valve Market is divided into Oil & Gas, Building & Construction, Semiconductors, Water & Waste Treatment, Chemical, Energy & Utilities, Food & Beverages, Pharmaceutical, Agriculture, Marine, Automotive, Metals & Mining, Paper & Pulp, Textile, and Glass segments. The oil & gas segment is the largest application in the North America Industrial Valve Market. The segment plays a crucial role in the regional industrial valve market, reflecting the significant demand for valves in the oil and gas industry. With North America being a major player in energy production and consumption, the oil & gas segment stands out as a key driver for the industrial valve market, supporting activities, such as extraction, refining, and distribution within the sector. This highlights the strategic importance of valves in ensuring the efficient and secure operation of oil and gas processes in the North American market.

North America Industrial Valve Market – By Country

By country, North America Industrial Valve Market is divided into United States, Canada, and Mexico. The United States is the leading country, dominating the market with its significant industrial activities and robust economic infrastructure. The United States Industrial Valve Market is characterized by extensive manufacturing, oil & gas production, and diverse industrial applications. With a thriving industrial sector and substantial demand for valves in various industries, the United States emerges as the primary and largest contributor to the overall North America Industrial Valve Market.

Competitive Landscape

Major players in the North America Industrial Valve 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. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In August 2022 – FloWorks International LLC, a distribution platform for specialty flow control, acquired Flotech Inc., a value-added distributor and servicer of industrial valves. The company's products include industrial and isolation valves, gate valves, globe valves, check valves, actuation and controls, safety and relief valves, and others.

• In April 2022 - Emerson added a new three-way Series 090 valve configuration to its ASCO Series 090 line of miniature solenoid valves, enabling lighter, more space-efficient solutions for gas control in oxygen therapy, compression therapy, and gas analyzer devices. Like all Series 090 valves, the new three-way valve is designed to maximize gas flow and has a flow-to-size ratio ideal for portable medical device applications. 

Scope of Report

By Components

• 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

• Textiles

• Glass

By Country

• United States

• Canada

• Mexico