Europe Industrial Valves Market Research Report: Forecast (2024-2030)

Market Definition

Valves are mechanical tools installed in a pipeline and primarily used as a switch for directing (opening or closing) the flow of the fluid either air, liquid, gas, or slurry in the pipeline. The valves also help in regulating the flow rate, pressure, and direction of the fluid. Valves are an essential mechanical device in any industrial process and are mainly customized as per the needs of the facility.

Market Insights & Analysis: Europe Industrial Valves Market (2024-30):

The Europe Industrial Valves Market is estimated to grow at a CAGR of around 5.65% during the forecast period, i.e., 2024-30. The factor consistently attributing to the growth of the market is a substantial presence of main industries, such as automotive, chemicals, pharmaceuticals, personal care, heavy machinery, etc. The industrial sector of the region marks up to about 25% of Europe’s economy. As per Eurostat, in 2021 more than 402,000 manufacturing sites were for metal fabrication. Valves are an important tool that has to be integrated into any manufacturing facility where the flow of any fluid or gas would take place. Valves are also considered safety equipment in case of releasing excess pressure from a pipeline, tank, etc. Thus, the continuous growth in the industrial sector of Europe would facilitate the demand for industrial valves too.

Additionally, Europe has a diverse oil & gas industry that includes exploration, production, refining, and distribution of oil & gas products. The North Sea is one of the most prolific oil & gas-producing areas, with Norway, the UK, and Denmark being major producers. Several new oil & gas initiatives, such as the Wisting Central Oil Discovery Project (Norway) & Aphrodite Gas Field Project (Cyprus), are on the way & are anticipated to become operational by 2028. Moreover, as the European Union is preparing to reduce its reliance on Russian gas, certain nations have chosen to enlarge their existing gas drilling facilities or utilize untapped reserves. Hence, owing to this development new oil & gas projects are predicted to surge, which would enhance the demand for industrial valves from this sector.

Furthermore, European countries are planning to cut power sector emissions & aim to reach the EU's ambitious target of climate neutrality by 2050. As a result, hydro, wind, and solar power projects have received more funding in countries like Norway, Italy, Sweden, Denmark, etc., In line with this, many new renewable projects are commencing in the region, subsequently contributing to the European Industrial Valve Market in the forthcoming years.

Europe Industrial Valves Market Driver:

Energy Transition to Carbon Neutral Economy – The European Union’s target to reduce the overall carbon emission by about 55% to that of 1990 levels by 2030 has driven the countries across the region to shift to renewable energy and low carbon emitting technologies. Since then the region has witnessed huge investments in the evolution of the energy sector from conventional oil & gas, coal, etc., to hydropower, solar, wind, and hydrogen. Moreover, the implementation of Carbon Capture and Storage (CCUS) technology in the existing industrial and power-generating facilities has been pushing the demand for industrial valves in the region. Additionally, the national government's encouragement to reduce carbon emissions majorly from electricity generation either captive or commercial is further fueling the demand for industrial valves in the market.

Europe Industrial Valves Market Opportunity:

Intense Emphasis on Building Hydrogen Economy – Nations such as Germany, the UK, Norway, Italy, Spain, France, etc., have been the front runners in developing green and blue hydrogen for their carbon-neutral targets. The ambitious targets of the countries for transitioning towards hydrogen as a primary energy source are also spurring up demand for high-quality customized industrial valves to accommodate the complex processes of generating hydrogen from either water electrolysis or through carbon capture and sequestration. Moreover, the need for flexible valves that are capable of handling different temperatures, viscosities of fluids, etc., would be observed in the coming years with the commencement of the hydrogen production units in the region.

Europe Industrial Valves Market Challenge:

Supply Chain Disruptions due to Unprecedented Global Events – A valve used at an industrial site comprises of many small and specific raw materials which are sourced from across the globe. Raw materials and components such as iron, steel, brass, rubber, paints & coatings are crucial components that are supplied from specialized places mainly Asian and North American countries. The disruptions due to unprecedented global events occurring in the past years such as the COVID-19 pandemic, the Russia-Ukraine war, the Israel-Hamas war, etc., disturb the routine flow of the supply chain of valves, thus hampering the market also.

Europe Industrial Valves Market Trend:

Encouraging the Adoption of Circular Economy in the Valve Industry – Rapidly soaring raw material requirements for manufacturing and other industrial purposes and the waste generated after the completion of the lifecycle of the product have been a serious concern for the environment. Thus, to tackle this surging situation and protect the environment, the original equipment manufacturers (OEMs) have been adopting ways to reduce raw material consumption along with increasing the lifecycle of the equipment.

Similarly, valve manufacturers in Europe, such as KSB, AVK, etc. have integrated the circular economy methods in their manufacturing routine to contribute to the betterment of the planet. Methods such as refurbishing, recycling, enhancing product design, etc., are the common ways implemented by OEMs. Further, the consumers are also intrigued by such activities of their suppliers/OEMs and thus are willing to pay a premium to support the protection of the environment, hence pushing the market growth.

Europe Industrial Valves Market (2024-30): Segmentation Analysis

The Europe Industrial Valves Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Type:

• Globe Valve
• Ball Valve
• Butterfly Valve
• Gate Valve
• Plug Valve
• Others

Globe Valves have maintained a significant share in the Europe Industrial Valves Market throughout the historical period and are predicted to sustain a balanced growth rate in the upcoming period as well. Globe valves are versatile in nature and are widely used for pressure control and direction regulation. They are also efficient in places where steam has to be regulated. Along with steam, the globe valves are often used for controlling the flow and pressure of water going into the boilers, and hence positioning themselves as important devices in chemical, power plants, pharmaceutical, and food & beverage production units.

Based on Application:

• Water & Wastewater Management
• Power
• Chemicals
• Oil & Gas
• Others (Food Processing, Mining, Marine, etc.)

Water & Wastewater management dominated the market in the past period. The focus of the European countries on treating water and wastewater is the key factor supporting the share of the segment in the market. Countries like Austria, Germany, Luxembourg, and the Netherlands treated nearly 100% of urban wastewater in compliance with the EU Wastewater Treatment Directive, while around 10 additional countries have reached more than 90% compliance rate, creating substantial demand for industrial valves. On the other hand, Ireland, Bulgaria, Romania, Croatia, and Malta have less than half of their urban areas, in compliance with the listed standards, thus indicating a potential demand for industrial valves.

Based on Country:

• The UK
• Germany
• France
• Italy
• Spain
•  Benelux
• Rest of Europe

Germany held a notable share in the market during the past period, as the country is one of the most economically stable countries in Europe, with an annual GDP of more than USD 4,260 billion as of 2021, according to the IMF. It is also Europe’s one of the most industrialized countries, with the industrial sector holding approximately 26.6% of the GDP. Owing to this, the country has a vast presence of industries, such as manufacturing, chemicals, pharmaceuticals, food & beverages, and automotive, which heavily rely on industrial valves for various tasks. Germany's extensive wastewater management system, comprising treatment plants, sewage systems, and rainwater harvesting, has created a strong demand for industrial valves.

Europe Industrial Valves Industry Recent Development:

• 2024: AVK introduced a new range of gate valves with PE ends, especially designed for water supply and irrigation purposes.
• 2023: Flowserve and Hydrogen Optimized have signed a Memorandum of Understanding for research & developing new and advanced technologies for large-scale green hydrogen production technology.

Gain a Competitive Edge with Our Europe Industrial Valves Market Report

• Europe Industrial Valves Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Europe Industrial Valves Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.