Industry Insights
U.S. valve market was valued at USD 32.04 billion in the year 2017 and is expected to grow over the forecast period owing to growing demand from oil & gas industry. It is the most common and indispensable device of our current technology that controls the flow of a fluid. Rising need of automation from manufacturing and processing industries is driving the demand for predictive monitoring and maintenance. These devices play an important role in manufacturing process, linking directly with industrial production and manufacturing process. It is widely used for in Oil & Gas and other industries for controlling the flow of materials.
U.S. valve market revenue split, by application, 2017 (% share)
The various types of this device incudes plumbing fixture, fittings and trim, industrial, hydraulic and pneumatic, gate, globe and check, Ball, hose, parts and accessories and valves for water works. In the year 2016, U.S. chemical industry remained the top consumer in the market and was followed by power generation and water sewage management. Although, huge quantity of this device is used in oil & gas, American Navy and Merchant Marines accounted for the maximum use.
High cost related with construction is hindering the overall market in the U.S. Their use varies depending on application and so does the use of material require in their manufacturing. It’s hard to process the right type of material in the formation of these devices, hence, the process becomes time consuming and critical.
In the last few years, valve industry has shown growth in terms of types and sizes. These devices are available in wide variety of materials, including carbon steel, stainless steel, cast iron, ductile iron, brass and aluminum. Increasing industrial sector and investment by Municipal Corporation in waste water treatment is expected to boost the imports of these devices and pipe fitting.
Segmentation by Type
• Industrial Valves,
• General Purpose Valves
• Others
In terms of segmentation by type, the industrial segment dominated the U.S. market followed by general purpose segment and others. The industrial segment is expected to grow over the coming years. Being a mature market, material development and design innovation are expected to add impetus for the growth. Furthermore, profits of the market in U.S. is totally dependent on the performance of the end-use industries that utilize valves. Industrial usage includes public utilities, process manufacturing industries, resource industries, construction, etc. Process manufacturing is expected to remain the foremost market over the forecast period.
Segmentation by Application
• Construction
• Manufacturing
• Oil & Gas
• Others
Construction industry is expected to post strongest rise in the demand. Increasing spending on residential and nonresidential sector, will drive the demand for the market in the U.S. construction industry. Increasing onshore drilling activities coupled with the increasing use of EOR techniques to meet the country’s oil demand is projected to provide growth opportunity in the foreseeable future. For instance, custom-engineered valves of large diameters are used in oil pipelines.
Automatic valves are gaining popularity in the chemical, petroleum, and utility application. These automatic liquid flow control devices will improve the operational efficiency, uplifting the overall market over the coming years. North America accounts for around one-third of the global demand in numerous industries, such as chemical, petroleum, oil & gas exploration, power generator, nuclear power, commercial construction, and pulp and paper.
Competitive landscape
The growing demand from oil & gas, manufacturing, and related processing industries is expected to keep the market buoyant over the forecast period. Besides, the ongoing emphasis on water treatment is one other key market, which is expected to add to the prevailing demand in the market. Some of the key players involved in this market, includes Emerson Electric Co., Parker Hannifin, Valtorc International USA, Kennedy Valve Co., Balon Corporation, Powell Valves, M&H Valve, and McWane.
