Global Commercial Valves Market Analysis 2024 – Estimated Market Size And Key Drivers

The Commercial Valves Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Commercial Valves Global Market Report 2024, The commercial valve market size has grown strongly in recent years. It will grow from $2.69 billion in 2023 to $2.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to rising industrialization led to higher demand for commercial valves across various sectors, increasing construction activities fueled the need for efficient fluid control systems in buildings, growing infrastructure development in emerging economies spurred demand for commercial valves, rising water, and wastewater treatment needs drove the adoption of advanced valve solutions and increasing focus on energy efficiency led to the development and implementation of innovative valve technologies.

The commercial valve market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to the expansion of the oil and gas industry is expected to increase demand for durable and reliable valves, advancements in valve technology will drive the market with smarter, more efficient solutions, growth in the chemical and petrochemical industries will boost the demand for specialized commercial valves, rising adoption of automation and IoT in industrial applications will enhance the market for smart valves and increasing environmental regulations will necessitate advanced valve systems to meet new standards. Major trends in the forecast period include the integration of IoT and automation in valve systems will lead to smarter and more efficient operations, the development of advanced materials for valves that will enhance durability and performance in extreme conditions, growth in smart and digital valves will provide better control and monitoring capabilities, expansion into emerging markets will drive the need for commercial valves with diverse applications and focus on energy-efficient and sustainable solutions will shape the design and functionality of future valve systems.

Increasing industrialization is expected to propel the growth of the commercial valves market going forward. Industrialization is the process by which economies transition from agrarian-based to industrial-based, characterized by the development of manufacturing, advanced technical processes, and increased production efficiency. Industrialization is growing due to increasing demand for goods and services, leading to an expansion in production capabilities and economic development. Commercial valves are crucial in industrialization for controlling and regulating the flow of fluids in various production processes, ensuring efficient and safe operations. For instance, in July 2023, according to Eurostat, a Luxembourg-based government statistical agency, in May 2023, seasonally adjusted industrial production in the European area rose by 0.2%, while in the European Union, it increased by 0.1% compared to April 2023. Therefore, increasing industrialization is driving the growth of the commercial valves market.

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The commercial valves market covered in this report is segmented –

1) By Valves: Ball Valves, Check Valves, Butterfly Valves, Balancing Valves, Gate Valves, Globe Valves
2) By Material Type: Alloy Based, Cast Iron, Steel, Other Materials
3) By Distribution Channels: Direct Sales, Indirect Sales

Major companies operating in the commercial valves market are focusing on technological developments such as high-flow and high-pressure designs to gain a competitive advantage. High-flow and high-pressure designs refer to systems or components engineered to facilitate large volumes of fluid movement with minimal resistance (high-flow) while maintaining structural integrity and durability under high-pressure conditions. For instance, in April 2024, Emerson Electric Co., a US-based engineering and technology company, introduced the ASCO Series 148-149 Safety Valve and Motorized Actuator. This product features rapid opening and closing in less than one second and enhanced sealing capabilities to prevent leaks under high-pressure conditions. Additionally, it includes built-in diagnostics for real-time performance monitoring, ensuring optimal operational safety.

The commercial valves market report table of contents includes:

1. Executive Summary
2. Commercial Valves Market Characteristics
3. Commercial Valves Market Trends And Strategies
4. Commercial Valves Market – Macro Economic Scenario
5. Global Commercial Valves Market Size and Growth
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32. Global Commercial Valves Market Competitive Benchmarking
33. Global Commercial Valves Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Valves Market
35. Commercial Valves Market Future Outlook and Potential Analysis
36. Appendix