Overview and Scope
Isolation valves are a type of valve that shuts off the flow of fluid or gas in a system. They are utilized for pressure gauge isolation, pressure transmitter isolation, orifice plate pressure tapings, and various measurement devices.
Sizing and Forecast
The isolation valves market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to industrial expansion and infrastructure development, market diversification across industries, demand for maintenance and replacement, environmental concerns and efficiency, globalization and market expansion..
The isolation valves market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to industry-specific demand growth, rise in infrastructure projects, increasing demand for maintenance and replacement, market penetration in emerging economies, expansion of environmental regulations.. Major trends in the forecast period include focus on operational efficiency and cost reduction, automation and smart valve solutions, technological advancements in valve design, environmental sustainability demands, industry-specific applications and customization..
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Segmentation & Regional Insights
The isolation valves market covered in this report is segmented –
1) By Type: Ball Valves, Butterfly Valves, Knife Gate Valves, Plug Valves, Other Types
2) By Operation Type: Automated Valve, Manual Valve
3) By Sales Type: Original Equipment (OE), Aftermarket
4) By End-Use Industry: Oil And Gas , Power Generation, Chemical And Petrochemical, Water And Wastewater, Other End-Use Industries
Asia-Pacific was the largest region in the isolation valve market in 2023. The regions covered in the isolation valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growth of the oil and gas industry is expected to propel the growth of the isolation valve market going forward. The oil and gas industry refers to the global process of exploring, mining, processing, transporting, and distributing petroleum and natural gas products to supply energy to diverse sectors such as transportation, manufacturing, and power generation. Isolation valves are a key element in the oil and gas industry, as they are used to isolate specific parts of a pipeline or process system to facilitate maintenance, repair, and safety procedures, as well as to control the flow of fluids or gases, prevent backflow, and regulate pressure. For instance, in September 2022, according to Statistics Canada Highlights, a Canada-based intergovernmental organization, Canada’s total gross revenue in the oil and gas extraction industry increased by 85.7% from $93.7 billion in 2020 to $174.0 billion in 2021. Therefore, the growth of the oil and gas industry is driving the growth of the isolation valve market going forward.
Key Industry Players
Major companies operating in the isolation valves market report are Emerson Electric Co, Orion Valves, KITZ Corporation, Spirax-Sarco Engineering PLC., Frank’s International NV, The Weir Group PLC., Flowserve Corporation, Velan Inc., Crane Co, Trillium Flow Technologies, MKS Instruments Inc., Schlumberger Limited., Forbes Marshall, Baker Hughes Company, Colton Industries, Della Foglia Srl, American Expedition Vehicles, Weir Group PLC., Cameron International Corporation, Imperial Metal Industries Limited, Biocare Medical LLC, F Hoffmann-La Roche Ltd., Genemed Biotechnologies Inc., Thermo Fisher Scientific Inc., Biogenex Laboratories, Zytomed System GmbH, Bio-Techne Corporation, Bio SB Inc., Qiagen NV, PerkinElmer Inc., Abbott Laboratories, Merck KGaA
The isolation valves market report table of contents includes:
1. Executive Summary
2. Isolation Valves Market Characteristics
3. Isolation Valves Market Trends And Strategies
4. Isolation Valves Market – Macro Economic Scenario
5. Global Isolation Valves Market Size and Growth
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31. Global Isolation Valves Market Competitive Benchmarking
32. Global Isolation Valves Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Isolation Valves Market
34. Isolation Valves Market Future Outlook and Potential Analysis
35. Appendix
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