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Saudi Arabia Industrial Valves Market

Saudi Arabia Industrial Valves Market

Saudi Arabia Industrial Valves Market - By Valve Type (Globe Valve, Ball Valve (Trunnion Mounted Ball Valves, Floating Ball Valves, Rising Stem Ball Valves), Check Valve, Butterfly Valve (Zero Offset Butterfly Valves, Double Offset Butterfly Valves, Triple Offset Butterfly Valves), Gate Valve (Standard Plate Gate Valves, Wedge Gate Valves, Knife Gate Valves), Others); By Material Type (Steel, Cast Iron, Alloy Based, Cryogenic, Others); By End User (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverages, Pharmaceuticals & Healthcare, Building & Construction, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: January 2023
  • Report ID: BWC22619
  • Available Format: PDF
  • Page: 240

Report Overview

Rapidly expanding pipeline transportation industry, as well as rising import and export activities of fluids such as chemicals, crude oil, refined petroleum products, fluidized solids, and others via pipelines could boost the growth of Saudi Arabia Industrial Valves Market at a robust growth rate during the forecast period between 2023 and 2029.

Saudi Arabia Industrial Valves Market - Industry Trends & Forecast Report, 2029

Saudi Arabia Industrial Valves Market is projected to grow at a CAGR of 6.10% during the forecast period between 2023 and 2029. Major driving factors of the market are the quickly increasing demand for technologically advanced buildings and smart facilities from the developing infrastructure industry. The number of smart cities is growing quickly across the nation, and the increase in demand from cities that are developing quickly for industrial setup is supporting the market's expansion over the next five years. One of the industries that makes the most use of industrial valves is oil and gas. Since the Kingdom of Saudi Arabia is one of the largest oil and gas suppliers, it needs industrial valves for the supply routes, which will propel the market for industrial valves in Saudi Arabia to grow during the forecast period.

Saudi Arabia Industrial Valves Market - Overview

A mechanical/electromechanical device used to control, regulate, and divert flow and pressure in fluids (liquids, gases, and slurries) by closing, opening or blocking fluid passage. Increasing industrialization increased construction activities, and strong government support in the form of favorable FDI policies in the oil and gas sector, as well as advantageous incentive schemes, are expected to drive the Saudi Arabia valves market during the forecast period.

Growth Drivers

Growth in industrial equipment performance

In industrial settings, valves are frequently used to regulate the flow of any fluid through a system. To ensure safe and effective operation, valves are used in industries to start, throttle, or stop the fluid flow. They have numerous applications in everyday mechanical devices, such as water and HVAC (heating, ventilation, and air conditioning) systems in workplaces and gasoline engines for vehicles. Pipelines, the oil and gas, marine, power, food and beverage, and pharmaceutical industries are just a few of the industries that use valves. Pipelines are among the most crucial systems for moving oil and gas from their sources to locations where they will be used or converted into finished products in a variety of industries, including oil and gas, refineries, and power generation. Therefore, the demand for valves for industrial applications is expected to increase steadily over the next few years due to all of these industrial applications for valves and the expected growth of such industries in Saudi Arabia.

Restraints

Concerns regarding unplanned downtime

Factors like a lack of uniform standards and regulations, a lack of product differentiation, a slowdown in the mining and oil & gas industries, and downtime. Over the forecast period, market growth is expected to be constrained across Saudi Arabia due to valve repair. Manufacturers of valves must abide by several standards and laws. Regarding valves, various regions have different certifications and regulations. Due to the wide range of industries where valves are used, including oil and gas, food and beverage, pharmaceuticals, energy and power, water and wastewater treatment, building and construction, chemicals, and pulp and paper, this factor leads to diversity in demand. However, this diversity is impeding the market for industrial valves from expanding.

Impact of COVID-19 on Saudi Arabia Industrial Valves Market

The pharmaceutical and healthcare sectors led the fight against COVID-19 due to the coronavirus's quick spread. The manufacturing of every important medical device needed to treat COVID patients increased. Several significant industry players seized the chance to combat the deadly coronavirus pandemic because industrial valves are crucial to the production of various types of medical devices. Emerson's valves, for instance, can control pressure relief, maintain cleanliness in sterilizers, in oxygen therapy devices to help high-risk patients or those recovering, and support blood analyzers and other essential hematology equipment.

Saudi Arabia Industrial Valves Market

Segmental Coverage

Saudi Arabia Industrial Valves Market - By Valve Type

Saudi Arabia industrial valves market is divided into Globe Valve, Ball Valve (Trunnion Mounted Ball Valves, Floating Ball Valves, Rising Stem Ball Valves), Check Valve, Butterfly Valve (Zero Offset Butterfly Valves, Double Offset Butterfly Valves, Triple Offset Butterfly Valves), Gate Valve (Standard Plate Gate Valves, Wedge Gate Valves, Knife Gate Valves), and other segments. As gate valves are widely suitable for all underground and above-ground installations, they accounted for the highest market share. The main advantages of these valves are that they are an energy-efficient option because they use less power when opening or closing. It is because the movement direction is perpendicular to the media flow direction. As a result, gate valves save both energy and time when compared to globe valves.

Saudi Arabia Industrial Valves Market

Saudi Arabia Industrial Valves Market - By Material Type

On basis of the material type, Saudi Arabia industrial valve market is divided into Steel, Cast Iron, Alloy Based, Cryogenic, and other segments. In 2022, steel industrial valves held the highest market share. Steel industrial valves are currently being driven by rising demand for high-quality industrial valves in the food and beverage, chemicals, pharmaceutical, and metals and mining industries to mitigate the threat of contamination, and a similar trend is expected to continue during the forecast period.

Saudi Arabia Industrial Valves Market – By End User

On basis of end user, Saudi Arabia industrial valve market is divided into Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverages, Pharmaceuticals & Healthcare, Building & Construction, and other segments. Due to the expanding transportation industry, rising energy demand, and expanding drilling activities in the Gulf Cooperation Council (GCC) nations, the oil and gas industry held the highest share of the industrial valves market.

Competitive Landscape

Saudi Arabia industrial valves market is fiercely competitive, with AVK Saudi Valves Manufacturing Co. Ltd., Cameron Al-Rushaid Ltd., DARVICO, Emerson Electric Co., Flowserve Abahsain Flow Control Co. Ltd., Forum Energy Technologies, Inc., Pan Gulf Valves Manufacturing Co. Ltd., Saudi Pipes Systems Co, Shoaibi Group, and Yusuf Bin Ahmed Kanoo Group as prominent players. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

  • In February 2020 - Emerson Electric Co., a leading provider of automated and commercial & residential solutions to various industries, launched ASCO Series 158 Gas Valve and Series 159 Motorized Actuator for burner-boiler applications. The valve offers a flow rate that is twice that of other combustion valves on the market. The product launch is enabling the company to cater to more customers.

Scope of the Report

 

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

Saudi Arabia

Product/ Service Segmentation

Valve Type, Material Type, End User

Key Players

AVK Saudi Valves Manufacturing Co. Ltd., Cameron Al-Rushaid Ltd., DARVICO, Emerson Electric Co., Flowserve Abahsain Flow Control Co. Ltd., Forum Energy Technologies, Inc., Pan Gulf Valves Manufacturing Co. Ltd., Saudi Pipes Systems Co, Shoaibi Group, Yusuf Bin Ahmed Kanoo Group 

 

By Valve Type

  • Globe Valve

  • Ball Valve

  1. Trunnion Mounted Ball Valves

  2. Floating Ball Valves

  3. Rising Stem Ball Valves

  • Check Valve

  • Butterfly Valve

  1. Zero Offset Butterfly Valves

  2. Double Offset Butterfly Valves

  3. Triple Offset Butterfly Valves

  • Gate Valve

  1. Standard Plate Gate Valves

  2. Wedge Gate Valves

  3. Knife Gate Valves

  • Others

By Material Type

  • Steel

  • Cast Iron

  • Alloy-based

  • Cryogenic

  • Others

By End User

  • Oil & Gas

  • Water & Wastewater Treatment

  • Energy & Power

  • Chemicals

  • Food & Beverages

  • Pharmaceuticals & Healthcare

  • Building & Construction

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Saudi Arabia Industrial Valves Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Surging demand from pharmaceutical sector
        2. Rising need for connected networks to maintain and monitor industrial equipment
      2. Restraints
        1. Lack of standardized policies
      3. Opportunities
        1. Use of IoT and Industry 4.0 in industrial valves
        2. Growth in the industrial equipment performance
      4. Challenges
        1. Concerns regarding unplanned downtime
    3. Technological Advancement/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Saudi Arabia Industrial Valves Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Valve Type
        1. Globe Valve
        2. Ball Valve
          1. Trunnion Mounted Ball Valves
          2. Floating Ball Valves
          3. Rising Stem Ball Valves
        3. Check Valve
        4. Butterfly Valve
          1. Zero Offset Butterfly Valves
          2. Double Offset Butterfly Valves
          3. Triple Offset Butterfly Valves
        5. Gate Valve
          1. Standard Plate Gate Valves
          2. Wedge Gate Valves
          3. Knife Gate Valves
        6. Others
      2. By Material Type
        1. Steel
        2. Cast Iron
        3. Alloy Based
        4. Cryogenic
        5. Others
      3. By End User 
        1. Oil & Gas
        2. Water & Wastewater Treatment
        3. Energy & Power
        4. Chemicals
        5. Food & Beverages
        6. Pharmaceuticals & Healthcare
        7. Building & Construction
        8. Others
  5. Competitive Landscape
    1. List of Key Players and Their Range
    2. Saudi Arabia Industrial Valves Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership, and others)
  6. Impact of Covid-19 on Saudi Arabia Industrial Valves Market Industry
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
    1. AVK Saudi Valves Manufacturing Co. Ltd.
    2. Cameron Al-Rushaid Ltd.
    3. DARVICO
    4. Emerson Electric Co.
    5. Flowserve Abahsain Flow Control Co. Ltd.
    6. Forum Energy Technologies, Inc.
    7. Pan Gulf Valves Manufacturing Co. Ltd.
    8. Saudi Pipes Systems Co
    9. Shoaibi Group
    10. Yusuf Bin Ahmed Kanoo Group.
    11. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

 

List of Figures

Figure 1        Saudi Arabia Industrial Valves Market Segmentation                                   

Figure 2        Saudi Arabia Industrial Valves Market Value Chain Analysis                                   

Figure 3        Company Market Share Analysis, 2022                                  

Figure 4        Saudi Arabia Industrial Valves Market Size, By Value (USD Million), 2019–2029                                      

Figure 5        Saudi Arabia Industrial Valves Market Share, By Valve Type, By Value, 2019–2029                                 

Figure 6        Saudi Arabia Industrial Valves Market Share, By Material Type, By Value, 2019–2029                              

Figure 7        Saudi Arabia Industrial Valves Market Share, By End User, By Value, 2019–2029       

 

List of Tables          

Table 1         Saudi Arabia Industrial Valves Market Size, By Valve Type, By Value, 2019–2029

Table 2         Saudi Arabia Industrial Valves Market Size, By Material Type, By Value, 2019–2029

Table 3         Saudi Arabia Industrial Valves Market Size, By End User, By Value, 2019–2029

Table 4         AVK Saudi Valves Manufacturing Co. Ltd. Company Overview

Table 5         AVK Saudi Valves Manufacturing Co. Ltd. Financial Overview

Table 6         Cameron Al-Rushaid Ltd. Company Overview

Table 7         Cameron Al-Rushaid Ltd. Financial Overview

Table 8         DARVICO Company Overview

Table 9         DARVICO Financial Overview

Table 10        Emerson Electric Co. Company Overview

Table 11        Emerson Electric Co. Financial Overview

Table 12        Flowserve Abahsain Flow Control Co. Ltd. Company Overview

Table 13        Flowserve Abahsain Flow Control Co. Ltd. Financial Overview

Table 14        Forum Energy Technologies, Inc. Company Overview

Table 15        Forum Energy Technologies, Inc. Financial Overview

Table 16        Pan Gulf Valves Manufacturing Co. Ltd. Company Overview

Table 17        Pan Gulf Valves Manufacturing Co. Ltd. Financial Overview

Table 18        Saudi Pipes Systems Co Company Overview

Table 19        Saudi Pipes Systems Co Financial Overview

Table 20        Shoaibi Group Company Overview

Table 21        Shoaibi Group Financial Overview

Table 22        Yusuf Bin Ahmed Kanoo Group. Company Overview

Table 23        Yusuf Bin Ahmed Kanoo Group. Financial Overview                 

Market Segmentation

By Valve Type

  • Globe Valve

  • Ball Valve

  1. Trunnion Mounted Ball Valves

  2. Floating Ball Valves

  3. Rising Stem Ball Valves

  • Check Valve

  • Butterfly Valve

  1. Zero Offset Butterfly Valves

  2. Double Offset Butterfly Valves

  3. Triple Offset Butterfly Valves

  • Gate Valve

  1. Standard Plate Gate Valves

  2. Wedge Gate Valves

  3. Knife Gate Valves

  • Others

By Material Type

  • Steel

  • Cast Iron

  • Alloy-based

  • Cryogenic

  • Others

By End User

  • Oil & Gas

  • Water & Wastewater Treatment

  • Energy & Power

  • Chemicals

  • Food & Beverages

  • Pharmaceuticals & Healthcare

  • Building & Construction

  • Others

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Frequently Asked Questions (FAQs):

Ans: Major factors driving the growth of Saudi Arabia Industrial Valves Market include rapidly expanding pipeline transportation industry, as well as rising import and export activities of fluids such as chemicals, crude oil, refined petroleum products, fluidized solids, and others via pipelines.
Ans: Saudi Arabia Industrial Valves Market size is projected to grow at a CAGR of 6.10% during the forecast period.
Ans: The Oil and gas segment holds the highest market share in the Saudi Arabia Industrial Valves Market by end-user industry.
Ans: The gate valve segment accounts for the highest market share in the Saudi Arabia Industrial Valves Market by type.
Ans: Key players in Saudi Arabia Industrial Valves Market include AVK Saudi Valves Manufacturing Co. Ltd., Cameron Al-Rushaid Ltd., DARVICO, Emerson Electric Co., Flowserve Abahsain Flow Control Co. Ltd., Forum Energy Technologies, Inc., Pan Gulf Valves Manufacturing Co. Ltd., Saudi Pipes Systems Co, Shoaibi Group, and Yusuf Bin Ahmed Kanoo Group.