India Industrial Valves Market Size (2024 - 2029)

The India Industrial Valves Market is projected to experience substantial growth over the forecast period, driven by increased demand in sectors such as water treatment, oil and gas, chemicals, and power. Despite the initial negative impact of the COVID-19 pandemic, the market has shown significant recovery. The market's expansion is supported by the rising consumption of industrial valves, although high costs and maintenance requirements pose challenges. Nonetheless, the growing interest in automatic valves presents promising opportunities for further market development.

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Market Size of India Industrial Valves Industry

India Industrial Valves Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.41 Billion
Market Size (2029) USD 3.38 Billion
CAGR (2024 - 2029) 7.00 %
Market Concentration Low

Major Players

India Industrial Valves Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Industrial Valves Market Analysis

The India Industrial Valves Market size is estimated at USD 2.41 billion in 2024, and is expected to reach USD 3.38 billion by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).

The COVID-19 pandemic negatively affected the market for industrial valves due to several restrictions imposed by India's government. The pandemic affected the oil and gas, power, and chemicals sectors, impacting the industrial valve market. However, post-COVID-19, the market recovered significantly owing to the rising consumption of industrial valves in water treatment, oil and gas, chemical, and power applications.

  • Over the short term, the increasing demand for valves from water treatment plants, the oil and gas industry, and the power industry are significant factors driving the growth of the market studied.
  • However, the high costs and need for regular maintenance of valves are likely to restrain the growth of the market.
  • Nevertheless, the increase in demand for automatic valves is likely to create lucrative growth opportunities for the industrial valves market.

India Industrial Valves Industry Segmentation

Industrial valves are mechanical devices that control the flow and pressure of liquids, gases, and slurries within a system. They are also known as regulators and are used in various applications. Valves vary significantly in size, design, function, and operation.

The Indian industrial valves market is segmented by type, product, application, and geography. By type, the market is segmented into butterfly valve, ball valve, globe valve, gate valve, plug valve, and other types (pitch valve, check valve, etc.). By product, the market is segmented into quarter-turn valves, multi-turn valves, and other products (control valves, valve actuators, etc.). By application, the market is segmented into power, water and wastewater management, chemicals, oil and gas, and other applications (food processing, mining, marine, etc.).

For each segment, the market sizing and forecasts are provided in terms of value (USD).

Type
Butterfly Valve
Ball Valve
Globe Valve
Gate Valve
Plug Valve
Other Types (Pitch Valve, Check Valve, etc.)
Product
Quarter-turn Valve
Multi-turn Valve
Other Products (Control Valves, Valve Actuators, etc.)
Application
Power
Water and Wastewater Management
Chemicals
Oil and Gas
Other Applications (Food Processing, Mining, Marine, etc.)
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India Industrial Valves Market Size Summary

The Indian industrial valves market is poised for significant growth, driven by increasing demand across various sectors such as water treatment, oil and gas, and power industries. The market, which experienced a downturn due to the COVID-19 pandemic, has shown robust recovery as these sectors ramp up their operations. The oil and gas industry, a core component of India's economy, relies heavily on industrial valves for exploration, production, and refining processes. Despite recent declines in oil production, the rising consumption and investments in exploration projects are expected to bolster the demand for industrial valves. Similarly, the power industry, with its expanding hydropower and nuclear projects, is set to drive market growth through the need for valves in various applications like boiler feed pump recirculation and steam conditioning.

The market landscape is characterized by its fragmented nature, with key players such as AMTECH, Emerson Electric Co., Hawa Engineers Ltd, IMI Critical Engineering, and L&T Valves Limited actively contributing to the sector's development. Innovations and expansions, such as Emerson's new Crosby J-Series pressure relief valve and the establishment of a manufacturing facility in Chennai, highlight the ongoing efforts to enhance product offerings and meet the growing demand. While the high costs and maintenance requirements of valves pose challenges, the increasing preference for automatic valves presents lucrative opportunities for market expansion. Overall, the industrial valves market in India is set to experience substantial growth, supported by the country's economic activities and infrastructure developments.

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India Industrial Valves Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Valves from Water Treatment Plants

      2. 1.1.2 Increasing Demand for Valves in the Oil and Gas Industry

      3. 1.1.3 Growing Demand from the Power Industry

    2. 1.2 Restraints

      1. 1.2.1 High Cost and Need for Regular Maintenance

      2. 1.2.2 Other 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 Buyers

      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 (Market Size in Value)

    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 (Pitch Valve, Check Valve, etc.)

    2. 2.2 Product

      1. 2.2.1 Quarter-turn Valve

      2. 2.2.2 Multi-turn Valve

      3. 2.2.3 Other Products (Control Valves, Valve Actuators, etc.)

    3. 2.3 Application

      1. 2.3.1 Power

      2. 2.3.2 Water and Wastewater Management

      3. 2.3.3 Chemicals

      4. 2.3.4 Oil and Gas

      5. 2.3.5 Other Applications (Food Processing, Mining, Marine, etc.)

India Industrial Valves Market Size FAQs

The India Industrial Valves Market size is expected to reach USD 2.41 billion in 2024 and grow at a CAGR of greater than 7% to reach USD 3.38 billion by 2029.

In 2024, the India Industrial Valves Market size is expected to reach USD 2.41 billion.

India Industrial Valves Market Report Snapshots

India Industrial Valves Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)