Europe Valves Market Size (2024 - 2029)

Europe Valves Market Analysis

The Europe Valves Market is expected to grow at a CAGR of 4.4% during the forecast period, 2022-2027. The increased use of valves for various applications in the end-user industries, along with the growing emphasis on power, water, and wastewater in emerging markets, is driving the Europe valves market over the forecast period.

• Industrial valves play a vital role in the increasingly complex industrial and working world. Pipelines and hose pipes are necessary everywhere, in crude oil and natural gas production and in nearly all areas of industry, including medicine and water treatment, as well as in engines, machinery, and plant engineering, the conveyance of gas, fluids, and free-flowing solids.
• Advancements in technology have shaped innovative solutions that can improve process plants to become increasingly efficient by streamlining their operations. As industry requirements evolve and change, valve suppliers are expected to continue developing products and processes that address these new challenges.
• The Government in the region is taking various initiatives and opting for different strategies to boost the demand for valves. For instance, in June 2022, the new EU solar strategy published by the European Commission stated that the rooftop solar photovoltaic(PV) would help in turning the gas valves off.
• Moreover, companies are regulalry coming up with new innovations to keep up with the market demand. For instance, in Feb 2021, COSMOIND Co. Ltd, a PE pipe manufacturer has launched new products of BF fitting, EF fitting and ball valves. The company is also fully certified to ISO 9001, ISO 14001, CE, GB, TUV, NSF, KS, KC, KFI and G-Pass.
• Further, the outbreak of COVID-19 has resulted in an economic crisis across the world. The pandemic severely affected the oil and gas industry, with oil prices slashed. Significant oil producers are running out of storage space for extracted oil, and the demand is declining. According to BP's Statistical Review of World Energy 2021, gasoline demand decreased by around 13% (3.1 Mb/d) due to road mobility measures. Moreover, products closely related to the petrochemicals sector (ethane, naphtha, and LPG) were largely flat, supported partly by increasing demand for medical and hygiene-related supplies such as PPE.

Europe Valves Industry Segmentation

Valves are mechanical devices that help control fluid flow in motors, plumbing, irrigation, pneumatic and hydraulic systems. They can also regulate and direct the flow of a fluid by opening, closing, or partially obstructing various passageways. Used in various applications, valves vary greatly in size, design, function, and operation.

The study considers the revenue generated from the sale of various types of valves, including ball, butterfly, gate/globe/check, plug, control, among others. Moreover, the study also covers the various industries wherein these valves are utilized across the key countries within Europe. These industries include oil & gas, Power Generation, Chemical, Water & Wastewater, and Mining, among others.