Press Release

Europe Industrial Valves Market to Record a Substantial CAGR of Around 5.65% During 2024-30

The Europe Industrial Valves Market is projected to grow at a CAGR of 5.65% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The growth of the market is driven largely by the significant presence of key industries, such as automotive, chemicals, pharmaceuticals, personal care, and heavy machinery. The industrial sector makes up a significant portion of Europe's economy, characterized by a substantial number of metal fabrication manufacturing sites. Valves, crucial for managing the flow of fluids or gases and acting as safety equipment in manufacturing settings, are expected to see increased demand alongside the expansion of these industries in Europe.

Europe also has a robust oil and gas industry that spans exploration, production, refining, and distribution. Key production areas include the North Sea, with Norway, the UK, and Denmark as leading producers. Upcoming projects like Norway’s Wisting Central Oil Discovery and Cyprus’s Aphrodite Gas Field are set to begin operations by 2028. Additionally, in response to reducing dependence on Russian gas, some European countries are expanding or developing new gas drilling operations. These developments are likely to boost the demand for industrial valves in the oil and gas sectors.

Moreover, European nations are taking steps towards reducing emissions in the power sector to meet the EU’s goal of achieving climate neutrality by 2050. This has led to increased investment in renewable energy projects such as hydroelectric, wind, and solar power in countries like Norway, Italy, Sweden, and Denmark. The proliferation of these renewable projects is also expected to contribute positively to the demand for industrial valves in Europe in the years ahead, further states the research report, “Europe Industrial Valves Market Analysis, 2024.”

Europe Industrial Valves Market Segmentation Analysis

Globe Valves to Lead the Europe Industrial Valves Market Growth

Based on the type segment, the market is further bifurcated into Globe Valve, Ball Valve, Butterfly Valve, Gate Valve, Plug Valve, and Others. Globe valves have consistently occupied a significant portion of the Europe Industrial Valves Market and are expected to maintain a steady growth rate going forward. These valves are prized for their versatility, primarily used for regulating pressure and directing flow. They are particularly useful in systems that require steam control. Beyond steam, globe valves are crucial in managing the flow and pressure of water into boilers, thus proving indispensable in sectors such as chemical manufacturing, power generation, pharmaceuticals, and food & beverage processing.

Water & Wastewater Management to Dominate the Europe Industrial Valves Market Growth

Based on the application segment, the market is bifurcated into Water and Wastewater Management, Power, Chemicals, Oil & Gas, and Others (Food Processing, Mining, Marine, etc.).Water and wastewater management has historically been the leading sector in the market. The commitment of European countries to water and wastewater treatment has significantly contributed to the segment's market dominance. Nations such as Austria, Germany, Luxembourg, and the Netherlands have successfully treated nearly 100% of urban wastewater by the EU Wastewater Treatment Directive. Additionally, the rapid pace of urbanization and infrastructure development has led to a substantial increase in wastewater production from residential, industrial, and commercial sources.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Danfoss, Sirca, Emerson, Schlumberger Ltd., Flowserve, Pentair, Bohmer, AVK, Lesser GmbH, AKO Armaturen, Klinger, Eaton, etc. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
2. What are the market trends influencing the current scenario of the Europe Industrial Valves Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?