The Latest Valve Industry Statistics Explained
The global valve market is expected to reach USD 92.65 billion by 2027, growing at a CAGR of 3.4%.
The statistic indicates that the global valve market is projected to reach a total value of USD 92.65 billion by the year 2027, with a compound annual growth rate (CAGR) of 3.4%. This implies that the market for valves, which are crucial components in various industries such as oil and gas, water and wastewater, and manufacturing, is expected to expand steadily over the forecast period. The CAGR of 3.4% signifies the average annual growth rate of the market size, suggesting a relatively moderate but consistent increase in demand and sales of valves globally. This growth trajectory reflects the evolving needs of industrial sectors, technological advancements in valve design, and increasing infrastructural developments driving the market’s expansion towards the projected value by 2027.
In 2019, the valve market in the US was valued at USD 36.2 billion.
The statistic “In 2019, the valve market in the US was valued at USD 36.2 billion” represents the total estimated worth of the valve industry in the United States during that year. This figure indicates the monetary value of all valves sold and used in various industries such as oil and gas, water and wastewater, manufacturing, and others. The valuation of the market suggests the significance and scale of the valve industry within the US economy, highlighting its role in facilitating the flow and control of fluids in a wide range of applications. This statistic provides insight into the economic impact and size of the valve market in the US during the specified period.
Industrial valve manufacturing in the US employs about 9,861 people.
The statistic that industrial valve manufacturing in the US employs about 9,861 people provides a quantitative measure of the workforce in this specific sector of the manufacturing industry. This information highlights the significant level of employment provided by the industrial valve manufacturing sector and serves as an indicator of the sector’s economic importance in terms of job creation and workforce contribution. Understanding the number of people employed in this industry can help policymakers, businesses, and analysts make informed decisions regarding workforce development, economic growth, and industry-specific initiatives. Additionally, trends in employment figures for industrial valve manufacturing can provide insights into the overall health and stability of the industry, helping stakeholders anticipate potential changes and challenges in the labor market.
Oil & gas industry alone contributed to around 25% of the valve demand in 2017.
The statistic stating that the oil & gas industry contributed to about 25% of the demand for valves in 2017 indicates the significant importance of this sector in driving the market for valves during that year. Valves are essential components in various industrial processes, including controlling the flow of fluids in pipelines, and the high demand from the oil & gas industry highlights its reliance on these components for its operations. This statistic suggests that the oil & gas sector had a substantial impact on the valve market in 2017, with a quarter of the total demand attributed to its activities, showcasing its significant influence on the overall valve industry during that time period.
APAC region dominated the global industrial valves market with a share of 43% in 2017.
This statistic indicates that in 2017, the Asia-Pacific (APAC) region held a significant portion of the global industrial valves market, accounting for 43% of the market share. This suggests that APAC countries, such as China, India, Japan, and South Korea, were key players in the industry during that time period. The dominance of the APAC region in the global industrial valves market highlights the region’s strong presence and influence in manufacturing, infrastructure development, and other industrial activities. Companies operating in this market may need to pay close attention to the trends and dynamics within the APAC region to effectively compete and grow their market share.
The top five Valve manufacturers as of 2020 are, Emerson Electric, Flowserve, Cameron International, IMI and Tyco International Ltd.
The statistic indicates the top five Valve manufacturers as of 2020, with Emerson Electric, Flowserve, Cameron International, IMI, and Tyco International Ltd. leading the industry. These companies are likely distinguished by their market share, revenue, innovation, product quality, and overall influence in the Valve manufacturing sector. Their prominence signifies their success in meeting the demands of various industries such as oil and gas, water and wastewater management, power generation, and general manufacturing. The ranking could be based on factors such as sales volume, global presence, customer satisfaction, and brand reputation, reflecting their ability to stay competitive and thrive in the Valve manufacturing market in 2020.
Almost half (44.3%) of the valve market is accounted for by segments like OEMs, oil, and gas.
The statistic indicates that nearly half (44.3%) of the total market share for valves is attributed to specific segments such as original equipment manufacturers (OEMs), and the oil and gas industry. This means that a substantial portion of the valve industry’s sales, production, and revenue is driven by these particular sectors. The implication is that companies operating within these segments have a significant influence on the overall performance and dynamics of the valve market, shaping trends, innovations, and demand within the industry. Understanding and catering to the needs of these segments is crucial for valve manufacturers and suppliers looking to capitalize on this substantial market share.
In 2019, the control valve market was worth $7.77 billion.
The statistic “In 2019, the control valve market was worth $7.77 billion” indicates the total monetary value of the control valve market in that specific year. This figure reflects the combined sales revenue generated by control valve manufacturers and suppliers for the various types of control valves used in industrial processes such as manufacturing, oil and gas, water treatment, and others. The market value of $7.77 billion suggests a significant demand for control valves in various industries, highlighting the importance of these devices in regulating flow, pressure, and temperature within systems. This statistic serves as a key indicator of the size and economic significance of the control valve market in 2019.
Between 2021 and 2026, the smart valves market will expand at a CAGR of 5.86%.
This statistic indicates that the smart valves market is expected to experience steady growth over the period from 2021 to 2026, with a Compound Annual Growth Rate (CAGR) of 5.86%. The CAGR is a measure of the annual growth rate over a specified period of time assuming steady growth. In this case, it suggests that the smart valves market is projected to increase by an average of 5.86% every year between 2021 and 2026. This information is valuable for industry analysts, investors, and businesses operating in the smart valves market as it provides insight into the expected rate of expansion and helps in strategic planning and decision-making.
Water and wastewater industry occupies around 18% of the total valve market share.
This statistic indicates that the water and wastewater industry holds a substantial portion, approximately 18%, of the overall valve market share. Valves are crucial components used in various systems to control the flow of liquids such as water and wastewater. The significant market share occupied by this industry suggests a high demand for valves within the water and wastewater sector, highlighting the industry’s importance and the need for specialized valve solutions to address the specific requirements and challenges of managing water and wastewater systems efficiently and effectively.
By 2025, the valve market in oil and gas will reach USD 13.6 Billion.
The statistic “By 2025, the valve market in oil and gas will reach USD 13.6 Billion” indicates the projected total value of valves sold within the oil and gas industry by the year 2025. This figure represents the estimated market size in terms of revenue that companies operating in the oil and gas sector are expected to generate from selling valves to fulfill the industry’s needs. The forecasted value of USD 13.6 billion suggests a significant market demand for valves due to the ongoing activities and expansion in the oil and gas sector, which rely on these essential components for controlling flow and pressure in pipelines and other equipment.
In 2020, global shipments of industrial valves used by the chemical industry were valued at 5.4 billion U.S. dollars.
The statistic indicates that in the year 2020, the worldwide shipments of industrial valves targeted for use in the chemical industry amounted to a total value of 5.4 billion U.S. dollars. Industrial valves are essential components in various industrial processes, particularly in the chemical sector, where they play a crucial role in controlling the flow of liquids and gases. The substantial value of these shipments suggests a high demand for industrial valves within the chemical industry, likely due to ongoing industrial activities and infrastructure projects. This statistic serves as a reflection of the economic significance of industrial valves in supporting the operations of the chemical industry globally.
By 2027, the check valve market is expected to reach USD 7.38 billion.
The statistic that by 2027, the check valve market is projected to reach USD 7.38 billion indicates the anticipated total value of the check valve industry by that year. This figure serves as a forecast of the market’s growth trend, suggesting an expected increase in demand and revenue generated by check valve sales worldwide. Factors contributing to this market growth may include rising industrialization, increased investment in infrastructure development, and growing awareness of the importance of fluid flow control and prevention of backflow in various sectors such as oil and gas, water and wastewater treatment, and manufacturing. This statistic provides valuable insights for industry stakeholders, investors, and policymakers to make informed decisions and strategies based on the projected market size and potential opportunities in the check valve sector.
In 2020, the power industry held 22% of the total market share in the industrial valve market.
The statistic reveals that in 2020, the power industry dominated a significant portion of the industrial valve market, holding a substantial 22% market share. This indicates that the power industry was a major player in the demand for industrial valves during that year, likely due to the industry’s need for valves to regulate and control the flow of fluids in their operations. The statistic suggests that the power sector had a noticeable influence on the overall market dynamics and was a key driver of demand for industrial valves in 2020.
Steam trap market size was valued at USD 3.34 billion in 2018.
The statistic ‘Steam trap market size was valued at USD 3.34 billion in 2018’ signifies the total monetary value of the steam trap market as of 2018, with a specific amount of USD 3.34 billion. This figure reflects the sum of all sales and transactions related to steam traps during that year, encompassing the revenue generated by companies involved in manufacturing, distributing, and servicing steam traps. The market size provides an indication of the scale and economic significance of the steam trap industry in 2018, serving as a crucial metric for evaluating the growth, competition, and overall performance of the market within the specified timeframe.
Between 2020 and 2025, the globe control valve market is expected to rise at a CAGR of 5.4%.
This statistic indicates that the global control valve market is projected to experience a Compound Annual Growth Rate (CAGR) of 5.4% between the years 2020 and 2025. This suggests that the market for control valves, devices used to regulate the flow of fluids within various systems, is expected to grow steadily over the specified time frame. The CAGR of 5.4% signifies the average annual growth rate over this period, indicating a positive trend in market expansion. This forecast suggests that the demand for control valves is anticipated to increase, potentially driven by factors such as industrial development, technological advancements, and automation trends across various sectors worldwide.
By 2027, the industrial valves market is expected to reach a value of USD 105.75 billion.
The statistic indicates that the industrial valves market is projected to grow significantly over the next few years, with an expected value of USD 105.75 billion by the year 2027. This suggests a strong expansion in the demand for industrial valves, which are essential components in various industries such as oil and gas, water and wastewater management, and manufacturing. The anticipated market value reflects increasing investments in infrastructure development, technological advancements, and the growing need for efficient flow control in industrial processes. Companies operating in the industrial valves sector are likely to benefit from this growth trend by capitalizing on the rising demand for these critical devices across different sectors.
In 2020, the industrial valve market size in China reached USD 13.2 billion.
The statistic ‘In 2020, the industrial valve market size in China reached USD 13.2 billion’ indicates the total value of sales of industrial valves within China during the year 2020. This figure of USD 13.2 billion represents the aggregate revenue generated by companies in China that manufacture and sell industrial valves, which are crucial components used in various industries such as manufacturing, oil and gas, water treatment, and others. The size of the industrial valve market in China reflects the demand for these products within the country, serving as a key indicator of industrial activity and economic growth in China’s manufacturing sector. This statistic provides valuable insights into the scale and significance of the industrial valve market in China, highlighting its substantial contribution to the overall economy.
With revenue of approximately 8.82 billion euros, Kirchhoff was the leading company in the valve market in Europe in 2020.
The statistic indicates that Kirchhoff generated the highest revenue among all companies operating in the valve market in Europe in 2020, with a total of around 8.82 billion euros. This data signifies Kirchhoff’s dominant position in the industry, showcasing their strong market presence and financial performance compared to their competitors. The revenue figure reflects the amount of money Kirchhoff earned from selling valves within the European market during the specified year, highlighting the company’s significant contribution to the overall economic activity within the industry.
Conclusion
Based on the statistics presented, it is evident that the valve industry plays a crucial role in various sectors such as oil and gas, water treatment, and manufacturing. The data provides valuable insights into market trends, growth opportunities, and challenges faced by the industry. As technology advances and sustainability becomes increasingly important, companies in the valve industry must adapt to meet the changing demands of the market. Overall, the statistics highlight the significance of the valve industry in global commerce and emphasize the need for continuous innovation and improvement.
References
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