North America Valves Market Size (2024 - 2029)

The North America Valves market is experiencing growth, driven by the essential role valves play in regulating flow and pressure in various industrial applications. The integration of Industrial Internet of Things (IIoT) technology is enhancing valve performance and reducing unplanned downtime by allowing remote monitoring of valve health. However, the market's expansion is challenged by the need for manufacturers to comply with diverse regional certifications and policies, which complicates cost-effective production. The COVID-19 pandemic significantly impacted key sectors such as oil and gas, water and wastewater treatment, and power, affecting the overall demand for valves.

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Market Size of North America Valves Industry

North America Valves Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.32 %
Market Concentration Low

Major Players

North America Valves Market Key Players

*Disclaimer: Major Players sorted in no particular order

North America Valves Market Analysis

The North America Valves market is expected to grow at a CAGR of 4.32% over the forecast period (2022-2027). Valves are mechanical devices that regulate the flow and pressure inside a system or process. They are crucial parts of a piping system that transports liquids, gases, vapors, and other materials.

  • Valves are essential parts of a variety of industrial machinery. Plant operations could be disrupted if valves malfunction. Manufacturing organizations are unable to be warned about probable valve failures using conventional schedule-based maintenance techniques. As a result, when inspecting valves, technicians frequently report defects, which leads to unplanned downtime that could have been avoided by the use of the Industrial Internet of Things (IIoT).
  • Recent advancements in computing power and connectivity have made it possible for businesses to use IIoT technology to cut down on unplanned downtime caused by valve failures. With the help of the IIoT, valve specialists can remotely check on the health of the valves in a plant and assess their effectiveness, lifespan, and failure risk. This ensures superior valve performance and a safe working environment.
  • Several standards and rules must be followed by valve makers. When it comes to valves, different locations have distinct certifications and policies. As valves are used in so many different industries, such as oil & gas, food & beverage, pharmaceuticals, energy & power, water & wastewater treatment, building & construction, chemicals, and pulp & paper, demand is diverse. However, such variation is impeding the valves market's growth because manufacturers must adopt the same product to regional policies, making it difficult for valve makers to obtain an ideal cost of installation.
  • The COVID-19 pandemic has had a devastating impact on the oil and gas sector, with oil prices falling sharply. Due to the significant drop in global government-imposed limits on oil and gas production in 2020 and 2021, there was a significant mismatch between supply and demand. One of the major industries that use valves is oil and gas. Other significant end-users of valves are the water and wastewater treatment and the electricity and power industries; both of these sectors experienced decreased demand as a result of the global pandemic.

North America Valves Industry Segmentation

Valves are mechanical devices that controls the flow and pressure within a system or process. North America Valves Market is Segmented by Type (Ball, Butterfly, Gate, Globe, Check, Plug, Control), End-user Vertical (Oil and Gas, Power Generation, Chemical, Water and Wastewater, Mining), and Country.

By Type
Ball
Butterfly
Gate/Globe/Check
Plug
Control
Other Types
By End-User Vertical
Oil and Gas
Power Generation
Chemical
Water and Wastewater
Mining
Other End User Verticals
Country
United States
Canada
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North America Valves Market Size Summary

The North America Valves market is poised for steady growth, driven by the increasing demand across various industries such as oil and gas, water and wastewater treatment, and energy and power. Valves play a critical role in regulating flow and pressure within systems, making them indispensable in industrial operations. The adoption of Industrial Internet of Things (IIoT) technologies is transforming maintenance practices, allowing for remote monitoring and assessment of valve health, which helps in minimizing unplanned downtimes. However, the market faces challenges due to the need for compliance with diverse regional standards and certifications, which can complicate manufacturing processes and increase costs. The COVID-19 pandemic has also impacted demand in key sectors, particularly oil and gas, but recovery is expected as industries rebound and investments in infrastructure and automation continue to rise.

The United States holds a significant share of the North American Valves market, supported by substantial investments in manufacturing and energy sectors. The market is characterized by intense competition and fragmentation, with major players like Emerson Electric Co., Schlumberger Limited, and Flowserve Corporation actively engaging in strategic collaborations and product innovations to enhance their market presence. Government initiatives and funding in wastewater management and infrastructure projects further bolster market growth. In Canada, investments in oil and gas and wastewater treatment infrastructure are also contributing to the demand for valves. The market's competitive landscape is marked by mergers and acquisitions, as companies strive to expand their product offerings and capture a larger market share.

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North America Valves Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Threat of New Entrants

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Bargaining Power of Suppliers

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Assessment of the Impact of COVID -19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Ball

      2. 2.1.2 Butterfly

      3. 2.1.3 Gate/Globe/Check

      4. 2.1.4 Plug

      5. 2.1.5 Control

      6. 2.1.6 Other Types

    2. 2.2 By End-User Vertical

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Power Generation

      3. 2.2.3 Chemical

      4. 2.2.4 Water and Wastewater

      5. 2.2.5 Mining

      6. 2.2.6 Other End User Verticals

    3. 2.3 Country

      1. 2.3.1 United States

      2. 2.3.2 Canada

North America Valves Market Size FAQs

The North America Valves Market is projected to register a CAGR of 4.32% during the forecast period (2024-2029)

Emerson Electric Co., Schlumberger Limited, Alfa Laval Corporate AB, Flowserve Corporation and Crane Co. are the major companies operating in the North America Valves Market.

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