
North America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Material Type (Cast Iron, Steel, Cryogenic, Alloy-based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Piston RAM
Description
North America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Material Type (Cast Iron, Steel, Cryogenic, Alloy-based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, Piston RAM Valves, Gate Valves, and Control Valves), and Industry (Oil & Gas and Chemicals & Petrochemical)
The North America industrial valve market is expected to grow from US$ 7,588.00 million in 2023 to US$ 9,153.51 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2023 to 2028.
Increasing Use of Ball Valves and Butterfly Valves
Ball valves have a simple construction that features a ball mounted within a pipe. The ball valves are majorly known for their high durability, damage resistance, and low service requirements. They can be repaired easily without the need for intense workmanship. Furthermore, these valves do not require lubrication while offering a bubble-tight seal with low torque. Ball valves are also affordable and easy to use. In addition, they can handle and regulate high volume, pressure, and flow at elevated temperatures, which makes them suitable for operations involving various gasses and liquids. Thus, these factors are propelling the adoption of ball valves in industries such as oil & gas, water & wastewater, and chemicals & petrochemicals. For instance, in November 2023, FITOK Group announced the launch of its new BGP series ball valves for specialty gas, semiconductor, and chemical industry applications.
Butterfly valves are also among the most used valves in the industrial sector. The body of the valve is lightweight and available in disc and wafer form; it requires significantly less structural assistance than other types of valves such as ball valves. Further, they are cost-efficient and easier to install. Butterfly valves are well-known for their ability to effectively handle slurries and corrosive liquids. Thus, with rising urbanization, coupled with increasing deployment of wastewater treatment plants, the industrial valve market players are witnessing huge demand for butterfly valves. Hence, the rising use of ball valves and butterfly valves are fueling the industrial valve market growth.
North America Industrial Valve Market Overview
The North America industrial valves market, based on country, is segmented into the US, Canada, and Mexico. North America is an important market for industrial valves since it is home to a few top multinational firms, including Emerson, Cameron-Schlumberger, Flowserve Corporation, and Crane Company. Increasing R&D activities in the region related to actuator usage in valves for automation and the rising need for safety applications are driving the market growth in North America. In the US, R&D at the industry level is expanding the application areas of industrial valves in industries such as energy & power and chemicals. Control valves are used in oil & gas, energy & electricity, and water & wastewater treatment industries to regulate media flow; start, stop, or throttle flow; and assure safe and effective process automation.
Petroleum has been a major industry in the US since 1859, when oil was discovered in the Oil Creek area of Titusville, Pennsylvania. Exploration, production, processing, transportation, and marketing of natural gas and petroleum products are major activities carried out across the country by the pol & gas companies. In 2018, the US surpassed Russia and Saudi Arabia in oil production and became the world's top crude oil producer, generating 15% of global crude oil.
North America Industrial Valve Market Revenue and Forecast to 2028 (US$ Million)
North America Industrial Valve Market Segmentation
The North America industrial valve market is segmented based on material type, valve type, industry, and country. Based on material type, the North America industrial valve market is segmented into cast iron, steel, cryogenic, alloy-based, and others. The steel segment held the largest market share in 2023.
Based on valve type, the North America industrial valve market is segmented into ball valves, butterfly valves, diaphragm valves, safety valves, piston ram valves, gate valves, and control valves. The ball valves segment held the largest market share in 2023.
Based on industry, the North America industrial valve market is bifurcated into oil & gas and chemicals & petrochemical. The oil & gas segment held a larger market share in 2023.
Based on country, the North America industrial valve market is segmented into the US, Canada, and Mexico. The US dominated the North America industrial valve market share in 2023.
Velan Inc.; Crane Co.; Circor International Inc.; Flowserve Corp; Emerson Electric Co.; KITZ Corporation; Neway Valve (Suzhou) Co., Ltd; Spirax Sarco Engineering Plc; Schlumberger Ltd; and Weir Group PLC are the leading companies operating in the North America industrial valve market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America industrial valve market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the North America industrial valve market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the industrial valve market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
205 Pages
- 1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 2. Key Takeaways
- 3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
- 4. North America Industrial Valve Market Landscape
- 4.1 Market Overview
- 4.2 North America PEST Analysis
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinions
- 5. North America Industrial Valve Market – Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Rising Use of Valve in Oil and Gas Industry
- 5.1.2 Growing use of Ball Valves and Butterfly Valves
- 5.2 Key Market Restraints
- 5.2.1 Lengthy Service Life and Risk of Corrosion
- 5.3 Key Market Opportunities
- 5.3.1 Surging Application Range in Healthcare Sector
- 5.4 Future Trends
- 5.4.1 Escalating Popularity of IoT
- 5.5 Impact Analysis of Drivers and Restraints
- 6. Industrial Valve Market – North America Analysis
- 6.1 North America Industrial Valve Market Overview
- 6.2 North America Industrial Valve Market –Revenue and Forecast to 2028 (US$ Million)
- 7. North America Industrial Valve Market Analysis – By Material Type
- 7.1 Overview
- 7.2 North America Industrial Valve Market, By Material Type (2020 and 2028)
- 7.3 Cast Iron
- 7.3.1 Overview
- 7.3.2 Cast Iron: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 7.4 Steel
- 7.4.1 Overview
- 7.4.2 Steel: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 7.5 Cryogenic
- 7.5.1 Overview
- 7.5.2 Cryogenic: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 7.6 Alloy-Based
- 7.6.1 Overview
- 7.6.2 Alloy-Based: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 7.7 Others
- 7.7.1 Overview
- 7.7.2 Others: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 8. North America Industrial Valve Market Analysis – By Valve Type
- 8.1 Overview
- 8.2 North America Industrial Valve Market, By Valve Type (2020 and 2028)
- 8.3 Ball Valve
- 8.3.1 Overview
- 8.3.2 Ball Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 8.4 Butterfly Valve
- 8.4.1 Overview
- 8.4.2 Butterfly Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 8.5 Diaphragm Valve
- 8.5.1 Overview
- 8.5.2 Diaphragm Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 8.6 Safety Valve
- 8.6.1 Overview
- 8.6.2 Safety Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 8.7 Piston RAM Valve
- 8.7.1 Overview
- 8.7.2 Piston RAM Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9. North America Industrial Valve Market Analysis – By Industries
- 9.1 Overview
- 9.2 North America Industrial Valve Market, By Industries (2020 and 2028)
- 9.3 Oil and Gas
- 9.3.1 Overview
- 9.3.2 Oil and Gas: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.4 Water Treatment
- 9.4.1 Overview
- 9.4.2 Water Treatment: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.5 Power and Energy
- 9.5.1 Overview
- 9.5.2 Power and Energy: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.6 Chemical and Petrochemical
- 9.6.1 Overview
- 9.6.2 Chemical and Petrochemical: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.7 Food & Beverage
- 9.7.1 Overview
- 9.7.2 Food & Beverage: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.8 Healthcare
- 9.8.1 Overview
- 9.8.2 Healthcare: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 9.9 Others
- 9.9.1 Overview
- 9.9.2 Others: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 10. North America Industrial Valve Market – Country Analysis
- 10.1 Overview
- 10.1.1 North America: Industrial Valve Market, by Key Country
- 10.1.1.1 US: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.1.1 US: Industrial Valve Market, By Material Type
- 10.1.1.1.2 US: Industrial Valve Market, by Valve Type
- 10.1.1.1.3 US: Industrial Valve Market, by Industries
- 10.1.1.2 Canada: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.2.1 Canada: Industrial Valve Market, By Material Type
- 10.1.1.2.2 Canada: Industrial Valve Market, by Valve Type
- 10.1.1.2.3 Canada: Industrial Valve Market, by Industries
- 10.1.1.3 Mexico: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.3.1 Mexico: Industrial Valve Market, By Material Type
- 10.1.1.3.2 Mexico: Industrial Valve Market, by Valve Type
- 10.1.1.3.3 Mexico: Industrial Valve Market, by Industries
- 11. Impact of COVID-19 Pandemic on North America Industrial Valve Market
- 11.1 North America: Impact Assessment of COVID-19 Pandemic
- 12. Industry Landscape
- 12.1 Overview
- 12.2 Merger and Acquisition
- 12.3 New Development
- 13. Company Profiles
- 13.1 Crane Co.
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Velan Inc.
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Emerson Electric Co.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Flowserve Corporation
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Spirax-Sarco Engineering plc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Schlumberger Limited
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 IMI Critical Engineering
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 CIRCOR International, Inc.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Neway Valve (Suzhou) Co., Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 KITZ Corporation
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index
- LIST OF TABLES
- Table 1. North America Industrial Valve Market – Revenue, and Forecast to 2028 (US$ Million)
- Table 2. US: Industrial Valve Market, By Material Type –Revenue and Forecast to 2028 (US$ Million)
- Table 3. US: Industrial Valve Market, by Valve Type –Revenue and Forecast to 2028 (US$ Million)
- Table 4. US: Industrial Valve Market, by Industries –Revenue and Forecast to 2028 (US$ Million)
- Table 5. Canada: Industrial Valve Market, By Material Type – Revenue and Forecast to 2028 (US$ Million)
- Table 6. Canada: Industrial Valve Market, by Valve Type – Revenue and Forecast to 2028 (US$ Million)
- Table 7. Canada: Industrial Valve Market, by Industries – Revenue and Forecast to 2028 (US$ Million)
- Table 8. Mexico: Industrial Valve Market, By Material Type – Revenue and Forecast to 2028 (US$ Million)
- Table 9. Mexico: Industrial Valve Market, by Valve Type – Revenue and Forecast to 2028 (US$ Million)
- Table 10. Mexico: Industrial Valve Market, by Industries – Revenue and Forecast to 2028 (US$ Million)
- Table 11. List of Abbreviation
- LIST OF FIGURES
- Figure 1. North America Industrial Valve Market Segmentation
- Figure 2. North America Industrial Valve Market Segmentation – By Country
- Figure 3. North America Industrial Valve Market Overview
- Figure 4. Steel Segment Held the Largest Market Share in 2020
- Figure 5. The US was the Largest Revenue Contributor in 2020
- Figure 6. North America – PEST Analysis
- Figure 7. North America Industrial Valve Market– Ecosystem Analysis
- Figure 8. Expert Opinions
- Figure 9. North America Industrial Valve Market: Impact Analysis of Drivers and Restraints
- Figure 10. North America Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 11. North America Industrial Valve Market Revenue Share, by Material Type (2020 and 2028)
- Figure 12. North America Cast Iron: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 13. North America Steel: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 14. North America Cryogenic: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 15. North America Alloy-Based: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 16. North America Others: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 17. North America Industrial Valve Market Revenue Share, by Valve Type (2020 and 2028)
- Figure 18. North America Ball Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 19. North America Butterfly Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 20. North America Diaphragm Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 21. North America Safety Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 22. North America Piston RAM Valve: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 23. North America Industrial Valve Market Revenue Share, by Industries (2020 and 2028)
- Figure 24. North America Oil and Gas: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 25. North America Water Treatment: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 26. North America Power and Energy: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 27. North America Chemical and Petrochemical: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 28. North America Food & Beverage: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 29. North America Healthcare: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 30. North America Others: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 31. North America: Industrial Valve Market Overview, By Country - 2020 (US$ Mn)
- Figure 32. North America: Industrial Valve Market Revenue Share, by Key Country (2020 and 2028)
- Figure 33. US: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 34. Canada: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 35. Mexico: Industrial Valve Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 36. Impact of COVID-19 Pandemic in North American Country Markets
Pricing
Currency Rates
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