GCC and MENA Valves Market Size (2024 - 2029)

The GCC and MENA valves market is anticipated to experience significant growth, driven by the expanding power generation sector in the GCC countries. Despite the negative impact of the COVID-19 pandemic, the market has stabilized and is poised for further expansion. Gate valves hold the largest market share and are expected to grow at the fastest rate. Saudi Arabia leads the region in market dominance, with a robust growth trajectory projected for the coming years.

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Market Size of GCC and MENA Valves Industry

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GCC and MENA Valves Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %
Market Concentration High

Major Players

GCC and MENA Valves Market Key Players

*Disclaimer: Major Players sorted in no particular order

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GCC & MENA Valves Market Analysis

The GCC and MENA valves market is expected to register a CAGR of over 5% during the forecast period (2022-2027).

The COVID-19 pandemic had negatively impacted the market, but the market has since stabilized, and it is expected to grow further in the future.

One of the major factors driving the growth of the market is the expanding power generation sector in the GCC countries.

By type, gate valves accounted for the largest share in the market. By application, the gate valve segment accounted for the largest market share, and it is expected to witness the fastest CAGR during the forecast period. Saudi Arabia dominated the market, and it is expected to witness a CAGR of over 7% during the forecast period (2022-2027).

GCC & MENA Valves Industry Segmentation

Valves play an important role in fluid transfer and are especially important in the GCC and MENA region with oil production and low natural water resources. The GCC and MENA valves market is segmented by type (butterfly valve, ball valve, globe valve, gate valve, plug valve, and other types), application (industrial and municipal), and geography (Saudi Arabia, United Arab Emirates, Qatar, Algeria, Egypt, Iran, Iraq, and Rest of GCC and North Africa). The report offers the market sizes and forecasts for GCC and MENA in terms of revenue (USD million) for all the above segments.

Type
Butterfly Valve
Ball Valve
Globe Valve
Gate Valve
Plug Valve
Other Types
Application
Industrial
Municipal
Geography
Saudi Arabia
United Arab Emirates
Qatar
Algeria
Egypt
Iran
Iraq
Rest of GCC and North Africa
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GCC and MENA Valves Market Size Summary

The GCC and MENA valves market is poised for significant growth, driven by the expanding power generation sector in GCC countries. Valves play a crucial role in industrial applications, controlling fluid flow in systems such as HVAC, water systems, and gasoline mechanisms for vehicles. They are integral to industries like oil and gas, marine, power, food and beverage, and pharmaceuticals. The market, which experienced a downturn due to the COVID-19 pandemic, has stabilized and is expected to grow, with gate valves holding the largest market share and anticipated to witness the fastest growth. Saudi Arabia leads the market, supported by its oil and gas industry, although efforts are underway to diversify the economy by investing in non-oil sectors.

Saudi Arabia's economic strategy includes significant investments in diversified sectors to reduce dependency on oil, with numerous projects in oil and gas, refineries, and pipelines driving demand for valves. The government's initiatives to diversify the economy also encompass investments in chemical, construction, healthcare, and automotive industries, which are expected to boost water treatment activities. With substantial capital investments committed to water and sanitation projects, the industrial valves market is set to expand. The market is partially consolidated, with major players like Baker Hughes, Crane Co., Emerson Electric Co., Schlumberger Limited, and Alfa Laval AB playing pivotal roles in its development.

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GCC and MENA Valves Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Expanding Power Generation Sector in GCC Countries

      2. 1.1.2 Surge in Oil Refining in the MEA Region

    2. 1.2 Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Butterfly Valve

      2. 2.1.2 Ball Valve

      3. 2.1.3 Globe Valve

      4. 2.1.4 Gate Valve

      5. 2.1.5 Plug Valve

      6. 2.1.6 Other Types

    2. 2.2 Application

      1. 2.2.1 Industrial

      2. 2.2.2 Municipal

    3. 2.3 Geography

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 United Arab Emirates

      3. 2.3.3 Qatar

      4. 2.3.4 Algeria

      5. 2.3.5 Egypt

      6. 2.3.6 Iran

      7. 2.3.7 Iraq

      8. 2.3.8 Rest of GCC and North Africa

GCC and MENA Valves Market Size FAQs

The GCC and MENA Valves Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Schlumberger Limited, Baker Hughes, a GE Company, Emerson Electric Co, Alfa Laval AB and Crane Co. are the major companies operating in the GCC and MENA Valves Market.

GCC & MENA Valves Market Report Snapshots

GCC and MENA Valves Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)