Water and wastewater valve market to Reach $14.7 Billion, Globally, by 2031 at 4.5% CAGR: Allied Market Research
Aug 05, 2023
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16 Aug, 2023, 10:11 ET
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The global water and wastewater valve market is experiencing growth due to an increase in population growth and urbanization and surge in investments in the oil and gas industry in North America
PORTLAND, Ore., Aug. 16, 2023 /PRNewswire/ -- A water and wastewater valve is a component that regulates the pressure and flow of gases and liquids. Its function is to enable or restrict water from passing through pipes, fittings, or additional parts of machinery. Furthermore, the integration of artificial intelligence and the internet of things (IoT) in industrial processes by the "Industry 4.0" upgrade opens up numerous opportunities for the water and wastewater valve market to grow. The process industries are undertaking valve upgrades and replacements using automation technology to boost production efficiencies. Although it is expected to develop slowly, this might aid in the growth of the water and wastewater valve market analysis in the approaching years.
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Allied Market Research published a report, titled, "Water and Wastewater Valves Market by Type (Gate, Ball, Butterfly, Globe and Others), by material (Cast Iron, Steel, Alloy Based and Others) and End user industry (Oil and Gas, Chemical, Power Generation, Others): Global Opportunity Analysis and Industry Forecast, 2022–2032" According to the report, the global water and wastewater valve market was valued at $8.3 billion in 2020, and is projected to reach $14.7 billion by 2032, registering a CAGR of 4.5% from 2023 to 2032.
Prime determinants of growth
The global water and wastewater valve market is experiencing growth due to an increase in population growth and urbanization and surge in investments in the oil and gas industry in North America.however, increased tariff on raw materials restrains the market growth to some extent. Nevertheless, technological advancements are expected to provide ample opportunities for the industry in the upcoming years.
Report coverage & details:
Market Size in 2020
Market Size in 2032
No. of Pages in Report
Type, Material, End user industry, and Region
Increase in population growth and urbanization
Surge in investments in the oil and gas industry
Advancements in technology
The increased tariff on raw materials
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The ball segment maintained its leadership status throughout the forecast period.
Based on type, the ball segment held the highest market share in 2020, accounting for more than one fourth of the water and wastewater valve market revenue and is estimated to maintain its leadership status throughout the forecast period, ball valves offer better sealing ability, which makes them an ideal choice for regulation of gas flow. However, the butterfly segment is projected to manifest the highest CAGR of 6.9% from 2023 to 2032, owing to increase in demand from the oil & gas industry, as the oil & gas industry experiences increase in the requirement of stainless-steel butterfly valves.
The steel segment maintained its leadership status throughout the forecast period.
Based on material, the steel segment held the highest market share in 2020, accounting for more than two fifths of the water and wastewater valve market revenue and estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for steel water and wastewater valves includes rise in development of industrial infrastructure. The usage of steel water and wastewater valves is growing as it is more suitable to control water flow system and gas flow system. The Alloy based segment, on the other hand, is projected to manifest the highest CAGR of 5.0% from 2023 to 2032, owing to growth in preference of alloy water and wastewater valves is due to its sustainable and innovative smelting, mining, mineral recovery, and recycling technology.
The oil & gas segment maintains its lead position during the forecast period.
Based on end user, oil and gas segment accounted for the largest share in 2020, contributing to more than half of the water and wastewater valve market revenue, Due to the immense need for valves from almost all its activities, the oil and power industry uses the most water and wastewater valves. Moreover, the power generation segment is expected to portray the largest CAGR of 7.9% from 2022 to 2032, owing to increase in demand for electricity and the need for reliable power supply, drive the expansion of power generation sector.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia Pacific held the highest market share in terms of revenue in 2020, accounting for around two-fifths of the water and wastewater valve market revenue, owing to developing nations such as India and China which is pulling the focus towards the new construction projects. However, LAMEA is expected to witness the fastest CAGR of 4.9% from 2022 to 2032, owing to rising construction and infrastructure sectors in developing countries such as India, China and others.
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Leading Market Players: -
The report provides a detailed analysis of these key players of the water and wastewater valve market. These players have adopted different strategies such as new product launches, business expansion, acquisition, collaboration, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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