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According to Cognitive Market Research, The Global Lined Valves market size is USD 3.2 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 4.50% from 2023 to 2030.
Due to the increase of infrastructure construction projects worldwide, lined valves are becoming more and more in demand across a variety of industries, including water and wastewater treatment.
Demand for ball valve category remains higher in the lined valves market.
The chemical category held the highest share in the lined valves market in 2023.
Asia Pacific will continue to lead, whereas the North America market for lined valves will experience the strongest growth until 2030.
Growing Adoption of Artificial Intelligence (AI) will Drive Market Growth
One of the most cutting-edge technologies, artificial intelligence (AI) offers users a variety of advantages. The world is embracing machine learning (ML) technology, which is evolving into a critical component of many fields for resolving many issue statements and producing more accurate forecasts and judgments. In order to decrease downtime, anticipate process failures caused by faulty valves, prevent process breakdowns, and implement preventative actions to increase plant efficiency, the valves industry is focusing on predictive analytics. Furthermore, Al is used to develop software that uses generative design to assist in designing multi-objective optimal valves. Al is used by the program to quickly produce a valve design for a specified flow performance criterion. These features would allow the producers to create and deliver products in accordance with consumer specifications in a given amount of time.
Increasing Government Regulations will Spur Market Expansion
The lined valve market is anticipated to grow as a result of the oil and gas industry's rising need for lined valves. Since they are an integral component of every piping system, valves play a crucial function in the oil and gas sector. They are used to manage crude oil processing, regulate flow rates, and separate and safeguard equipment. The need for valves will rise as upstream and downstream oil and gas activities develop.
For instance, the International Energy Agency (IEA), an independent international organization with headquarters in France, predicted that by March 2021, the world's oil consumption will exceed 104.1 mb/d. This will indicate a rise from 2019 levels of 4.4 ml/d.
(Source:iea.blob.core.windows.net/assets/1fa45234-bac5-4d89-a532-768960f99d07/Oil_2021-PDF.pdf)
As a result of the rising demand from the oil and gas industry, the lined valve market is growing.
Market Dynamics of Lined Valves
Lack of Standardized Regulations to Restrain Market Growth
The various certifications and laws governing valves in each region must be followed by valve manufacturers. Due to valves' broad applicability across a range of end-user sectors, this characteristic leads to variability in product specifications. However, due to the need for industry players to modify the same product in accordance with regional policies, the lined valve market's growth is being hampered by this variety. As a result, it is challenging for valve manufacturers to produce products with an optimal installation cost. To remedy this problem, they must establish manufacturing facilities in several countries, which will require additional capital expenditures.
Impact of COVID-19 on the Lined Valves Market
The lined valve market has experienced substantial COVID-19 effects. When the pandemic began in 2020, numerous sectors saw their operations disrupted, which reduced demand for a variety of valve types, including lined valves. Furthermore, the installation of lined valves in new facilities was impacted by various building and infrastructure projects that were halted or delayed. Global supply chain disruptions have an impact on the manufacture and delivery of lined valve Introduction of Lined Valves
Industrial valves with protective linings on their inside surfaces are known as lined valves. This lining protects the valve from corrosion and abrasion and is often comprised of materials like PTFE or PFA. In fields like chemical processing and wastewater treatment that deal with corrosive or abrasive fluids, lined valves are frequently employed. The increased use of IoT-integrated valves, the need for the pharmaceutical industry to ensure the highest level o...
The industry check valves market share is expected to increase by USD 2.50 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (oil and gas, power, chemicals, water and wastewater, and others) and geography (APAC, Europe, North America, MEA, and South America).
The industry check valves market report also offers information on several market vendors, including ABB Ltd., Curtiss-Wright Corp., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., Flowserve Corp., Honeywell International Inc., Robert Bosch GmbH, Schlumberger Ltd., and The Weir Group Plc among others.
ABB Ltd. - The company offers wide series of check valves under its Control System Accessory category. The electrification business segment offers low and medium voltage, buildings, and infrastructure electrification solutions.
What will the Industry Check Valves Market Size be During the Forecast Period?
Get the Industry Check Valves Market Size Forecast by Download Report Sample
Parent Market Analysis
Technavio categorizes the global industry check valves market as a part of the global industrial machinery market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industry check valves market during the forecast period.
Industry Check Valves Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The developments in the water and wastewater industry is notably driving the industry check valves market growth, although factors such as high costs associated with the maintenance of pipeline and transportation infrastructure may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
This industry check valves market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Industry Check Valves Market Value Chain Analysis
Our In-house experts produce extensive information on the value chain and parent market of the industry check valves market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
Which are the Key Regions for Industry Check Valves Market?
Get a glance at the market share of various regions by Requesting a PDF Sample now!
34% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for industry check valves in APAC. Market growth in this region will be faster than the growth of the market in other regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What is the Fastest-Growing End-user Segment in the Industry Check Valves Market?
To gain insights on the market contribution of various segments Request a PDF Sample
The industry check valves market share growth by the oil and gas segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the industry check valves market size and actionable market insights on the post-COVID-19 impact on each segment.
Industry Check Valves Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 4%
Market growth 2021-2025
USD 2.50 billion
Market structure
Fragmented
YoY growth (%)
3.60
Regional analysis
APAC, Europe, North America, MEA, and South America
Performing market contribution
APAC at 34%
Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
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According to Cognitive Market Research, The Global Lined Valves market size is USD 3.2 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 4.50% from 2023 to 2030.
Due to the increase of infrastructure construction projects worldwide, lined valves are becoming more and more in demand across a variety of industries, including water and wastewater treatment.
Demand for ball valve category remains higher in the lined valves market.
The chemical category held the highest share in the lined valves market in 2023.
Asia Pacific will continue to lead, whereas the North America market for lined valves will experience the strongest growth until 2030.
Growing Adoption of Artificial Intelligence (AI) will Drive Market Growth
One of the most cutting-edge technologies, artificial intelligence (AI) offers users a variety of advantages. The world is embracing machine learning (ML) technology, which is evolving into a critical component of many fields for resolving many issue statements and producing more accurate forecasts and judgments. In order to decrease downtime, anticipate process failures caused by faulty valves, prevent process breakdowns, and implement preventative actions to increase plant efficiency, the valves industry is focusing on predictive analytics. Furthermore, Al is used to develop software that uses generative design to assist in designing multi-objective optimal valves. Al is used by the program to quickly produce a valve design for a specified flow performance criterion. These features would allow the producers to create and deliver products in accordance with consumer specifications in a given amount of time.
Increasing Government Regulations will Spur Market Expansion
The lined valve market is anticipated to grow as a result of the oil and gas industry's rising need for lined valves. Since they are an integral component of every piping system, valves play a crucial function in the oil and gas sector. They are used to manage crude oil processing, regulate flow rates, and separate and safeguard equipment. The need for valves will rise as upstream and downstream oil and gas activities develop.
For instance, the International Energy Agency (IEA), an independent international organization with headquarters in France, predicted that by March 2021, the world's oil consumption will exceed 104.1 mb/d. This will indicate a rise from 2019 levels of 4.4 ml/d.
(Source:iea.blob.core.windows.net/assets/1fa45234-bac5-4d89-a532-768960f99d07/Oil_2021-PDF.pdf)
As a result of the rising demand from the oil and gas industry, the lined valve market is growing.
Market Dynamics of Lined Valves
Lack of Standardized Regulations to Restrain Market Growth
The various certifications and laws governing valves in each region must be followed by valve manufacturers. Due to valves' broad applicability across a range of end-user sectors, this characteristic leads to variability in product specifications. However, due to the need for industry players to modify the same product in accordance with regional policies, the lined valve market's growth is being hampered by this variety. As a result, it is challenging for valve manufacturers to produce products with an optimal installation cost. To remedy this problem, they must establish manufacturing facilities in several countries, which will require additional capital expenditures.
Impact of COVID-19 on the Lined Valves Market
The lined valve market has experienced substantial COVID-19 effects. When the pandemic began in 2020, numerous sectors saw their operations disrupted, which reduced demand for a variety of valve types, including lined valves. Furthermore, the installation of lined valves in new facilities was impacted by various building and infrastructure projects that were halted or delayed. Global supply chain disruptions have an impact on the manufacture and delivery of lined valve Introduction of Lined Valves
Industrial valves with protective linings on their inside surfaces are known as lined valves. This lining protects the valve from corrosion and abrasion and is often comprised of materials like PTFE or PFA. In fields like chemical processing and wastewater treatment that deal with corrosive or abrasive fluids, lined valves are frequently employed. The increased use of IoT-integrated valves, the need for the pharmaceutical industry to ensure the highest level o...