Global Metal Valves Market Demonstrates Impressive Growth, Expected to Reach $381.84 Billion by 2027

The Business Research Company’s Metal Valve Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, December 1, 2023 /EINPresswire.com/ — The global metal valves market exhibited robust growth, surging from $273.53 billion in 2022 to $293.86 billion in 2023, with a notable compound annual growth rate (CAGR) of 7.4%. Projections indicate a continued upward trajectory, with the market expected to reach an estimated $381.84 billion by 2027, maintaining a steady CAGR of 6.8%.

Chemical Industry Expansion Fuels Metal Valves Market

The anticipated growth of the chemical industry is set to drive the expansion of the metal valves market. Essential components such as butterfly valves, ball valves, gate valves, check valves, globe valves, plug valves, and actuated valves play a vital role in chemical processing, contributing significantly to the overall growth of the metal valves market. According to the American Chemistry Council (ACC), the US chemical industry is witnessing robust output and expansion, with a projected increase of 2.4% in 2023. Capital project expenditures are also expected to rise by 5.5% in the same year, highlighting the pivotal role of metal valves in this sector.

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Key Players Shaping the Metal Valves Market

Major players influencing the dynamics of the metal valve market include Parker-Hannifin Corporation, Emerson Electric Co, IMI plc, Atlas Copco AB, The Flowserve Corporation, The Crane Company, KITZ Corporation, Metso Oyj, Spectrum Brands Holdings Inc., and Globe Union Industrial Corp.

Product Innovations Drive Market Trends

A notable trend in the metal valve market is the emphasis on product innovations by key industry players. Companies are focusing on introducing new products with innovative technology and features to gain a competitive edge. For instance, in 2022, Warren Controls, a US-based valve manufacturer, launched the industrial control valves Series 2900, designed for applications in various industries, including food and beverages. The distinctive features of these products include a rugged cast iron body and a selection of trim materials, such as bronze, 300 stainless steel, 17-4PH stainless steel, and Alloy 6, among others.

Metal Additive Manufacturing Shapes Industry Landscape

A significant shift observed in the market is the adoption of metal additive manufacturing by companies responding to increased consumer demand for lightweight, faster, and fuel-efficient automobiles. This trend, prominent in countries like Germany, Japan, China, and India, has led to increased investments in metal additive manufacturing technology, resulting in process improvements and a reduction in production costs.

Asia-Pacific Leads the Metal Valves Market

In 2022, Asia-Pacific emerged as the largest region in the metal valves market, with Western Europe securing the second-largest position. A comprehensive market analysis encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation Details

The global metal valves market is segmented –

1 By Type: Industrial Valve, Fluid Power Valve and Hose Fitting, Plumbing Fixture Fitting and Trim, Other Metal Valve and Pipe Fitting
2. By Product: Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves, Other Products
3. By End User Industry: Chemicals, Marine, Construction, Mining, Oil and Gas, Other End User Industries

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Metal Valve Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Metal Valve Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on metal valve market size, metal valve market drivers and trends, metal valve market major players, competitors’ revenues, market positioning, and market growth across geographies. The metal valve market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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