Overview and Scope
Metal valves refer to a type of instrument that is adaptable, strong, and reliable, consisting of metal, and that is designed to regulate, direct, and control the flow of liquids, gases, and slurries from containers to the point of application in industries to provide a measured amount of raw material.
Sizing and Forecast
The metal valves market size has grown strongly in recent years. It will grow from <b>$287.78 billion in 2023 to $304.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. </b> The growth in the historic period can be attributed to industrialization, oil and gas industry growth, water and wastewater infrastructure development, energy production, manufacturing sector expansion.
The metal valves market size is expected to see steady growth in the next few years. It will grow to <b>$369.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. </b> The growth in the forecast period can be attributed to green energy transition, smart and iot-enabled valves, water scarcity solutions, environmental regulations, global infrastructure upgrades. Major trends in the forecast period include energy-efficient valves, digital twin technology, valve materials innovation, customization and specialization, remote valve control.
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Segmentation & Regional Insights
The metal valve market covered in this report is segmented –
1) By Type: Industrial Valve, Fluid Power Valve and Hose Fitting, Plumbing Fixture Fitting and Trim, Other Metal Valve and Pipe Fitting
2) By Product: Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, Other Products
3) By End User Industry: Chemicals, Marine, Construction, Mining, Oil and Gas, Other End User Industries
The <b>Asia-Pacific</b> was the largest region in the metal valve market in 2023. Western Europe was the second-largest region in the metal valve market. The regions covered in the metal valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The growth of the chemical industry is expected to propel the growth of the metal valves market going forward. Metal valves such as butterfly valves, ball valves, gate valves, check valves, globe valves, plug valves, and actuated valves perform an essential role in chemical processing, thereby contributing to the growth of the metal valves market. For instance, according to a report published by the American Chemistry Council (ACC), a US-based industry trade association for American chemical companies, the output of chemicals in the US is strong, and all chemical businesses are expanding. The ACC anticipates that output will increase by 2.4% in 2023, with the amount spent on capital projects increasing by 5.5% in 2023. Thus, the growth of the chemical industry is expected to drive the growth of the metal valves market going forward.
Key Industry Players
Major companies operating in the metal valve market include <b> Parker-Hannifin Corporation, Emerson Electric Co, IMI plc, Atlas Copco AB, The Flowserve Corporation, The Crane Company, KITZ Corporation, Metso Oyj, Spectrum Brands Holdings Inc, Globe Union Industrial Corp., Parker Hannifin Corporation, The Weir Group PLC, Cameron International, Rotork plc, Velan Inc., Curtiss-Wright Corporation, Neway Valve (Suzhou) Co. Ltd., Spirax-Sarco Engineering plc, Forum Energy Technologies, CIRCOR International Inc., Apollo Valves (Conbraco Industries), Bonney Forge Corporation, Watts Water Technologies Inc., Dwyer Instruments Inc., Bray International Inc., Leslie Controls Inc., SAMSON Controls Inc., Swagelok Company, Marwin Valve, Sun Hydraulics Corporation, MOGAS Industries Inc., Ayvaz, VAG Group, Nihon KOSO Co. Ltd.</b>
The metal valve market report table of contents includes:
1. Executive Summary
2.Metal Valve Market Characteristics
3. Metal Valve Market Trends And Strategies
4.Metal Valve Market analysis
5.Metal Valve Market Size And Growth
6.Metal Valve Segmentation
7.Metal Valve Regional And Country Analysis
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27.Metal Valve Competitive Landscape And Company Profiles
28.Metal Valve Key Mergers And Acquisitions
29.Metal Valve Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Parker-Hannifin Corporation
- Emerson Electric Co
- IMI plc
- Atlas Copco AB
- The Flowserve Corporation
- The Crane Company
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