The Middle East Industrial Valves Market is set to grow from 2024 to 2028 due to increased awareness of wastewater treatment and the adoption of smart valve control systems.
According to TechSci Research's report "The Global Industrial Valves Market - By Region, Competition, Forecast & Opportunities, 2029," the global market is expected to grow at a CAGR of 4.57% during this period. Demand from the chemical and electricity industries, as well as desalination activities, will drive market growth. Replacement of valves in the chemical industry, primarily due to regular exposure to chemicals and polymers, is also contributing to market expansion. However, the use of coal in energy production is declining due to government regulations, affecting the industrial valve market in coal-fired power plants.
In the Middle East, multi-turn valves are anticipated to dominate the market, holding about 50% market share in 2022. These valves are preferred for their simple construction, various pressure classes, and adaptable designs, allowing precise control over liquid volume in constrained environments.
Biomarkers, which are measurable indicators found in blood, body fluids, and tissues, play a crucial role in various biological systems. Industrial valves facilitate pharmaceutical research by enabling the analysis of biomarkers to discover new drugs and ensure cost-effective therapeutic doses. Ideal biomarkers should be safe, easy to measure, cost-effective to monitor, and consistent across different demographics.
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In 2022, the Globe Valve market segment is projected to dominate, driven by its widespread use in controlling pipeline flow and adjusting disc position relative to a fixed ring seat. Globe valves boast advantages like reduced leakage compared to other valve types, facilitating their adoption across diverse industries for improved closure, faster operation, and positive shut-off.
Key market players in the Global Industrial Valves Market include:
- TechnipFMC PLC
- Schlumberger Limited
- Drill-Quip Inc.
- Worldwide Oilfield Machine
- Baker Hughes Co.
- Delta Corp.
- Halliburton Co.
- Solar Alert Sdn Bhd
- The Weir Group PLC
- Aker Solutions ASA
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"The global industrial valves market is poised for expansion in the coming years. Increased spending on pipeline infrastructure in downstream oil and gas applications, particularly in the Middle East, will drive installation demand. Moreover, higher R&D investments in pharmaceuticals and growing medical equipment production will boost the need for industrial valves. These valves find utility across various sectors including petrochemicals, paper mills, power plants, textiles, and food production, among others." Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm, highlighted these trends.
The report "Industrial Valves Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Horizontal Tree, Vertical Tree), By Location (Onshore, Offshore), By Region, Competition 2018-2028" assesses the future growth prospects of the global industrial valves market. It offers comprehensive insights into market structure, size, share, and projected growth, aiming to provide valuable market intelligence for decision-makers. Additionally, the report identifies emerging trends, key drivers, challenges, and opportunities within the global industrial valves market.
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