According to our latest study on "IoT Valve Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Connectivity, Type, and End User," the IoT Valve market size was valued at US$ 1.29 billion in 2023 and is expected to reach US$ 2.85 billion by 2031; it is estimated to record a CAGR of 10.4% from 2023 to 2031.

The IoT Valve market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacic dominated the market in 2023, followed by North America and Europe respectively. The Asia Pacific IoT valves market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. IoT valves are widely used to control flow and pressure in the power industry. The rise in industrialization in countries in Asia Pacific propels the demand for electricity. Therefore, countries are building new power plants. Kakrapar Atomic Power Station (India), Kudankulam Nuclear Power Plant (India), Bluewaters Power Station (Australia), and Coal-based Power Plants (China), and Yokosuka coal-fired power plant (Japan) are a few newly formed or under construction power plants in countries in Asia Pacific. Thus, the construction of new power plants in the region creates the need for IoT valves in these power plants, propelling the IoT valve market growth in the region.

In terms of revenue, China dominated the IoT Valve market share. According to the US Energy Information Administration, in 2021, China was the world's leading energy producer and consumer, with primary energy production increasing by more than 6%, leading to a rise in overall energy production from all sources. Nuclear (11%), renewables (9%), and natural gas (8%) are the fastest rising energy sources year after year. Energy consumption increased by ~6%, with the highest growth in natural gas (12%), followed by nuclear (11%) and renewables (8%). In 2022, nonfossil fuels accounted for 49% of total installed electricity generation capacity, including hydropower (16%), solar (15%), and wind (14%). Higher crude oil and condensate output in 2022 led to total petroleum and other liquids production of 5.1 million barrels per day. IoT valves have various applications in energy and power generation; in renewable energy production, they are used to control hydraulic systems. Also, real-time monitoring of these valves helps ensure optimal performance and prevent failures. Thus, the growing energy and power production across the country propels the growth of the IoT valves market in the country.

Key Findings of IoT Valve Market Study:

The IoT valve market study primarily focuses on three segments: connectivity, type, regular valves, and end user. In terms of connectivity, the market is bifurcated into wired and wireless. By type, the market is segmented into pressure independent control valves (PICV), regular valves, and energy valves. By regular valves, the market is divided into ball valve, butterfly valve, safety valve, and others. In terms of end user, the market is segmented into industrial, commercial, and residential. By geography, the IoT Valves market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.

By regular valves, the market is divided into ball valve, butterfly valve, safety valve, and others. The ball valve segment held the largest IoT Valve market share in 2023. The IoT ball valve is ideal for many well water, home filtrations, and commercial and municipal applications where water needs to be flushed regularly, scheduled for shut-off, or flushed via a smart IoT application. The ball valve is app-driven and pairs with a smartphone or a home automation system with Google or Alexa. These ball valves are designed to be used in water applications and with various other fluids. Various players provide ball valves; for example, Vu-Flow provides Vu-Flow 1 ball valves, which are ideal for applications where water or other fluids need to be flushed periodically or scheduled for shut-off. The product can be paired with Vu-Flow water filters for contaminated water applications, and it helps flush the filter to prevent clogging automatically. It has a durable stainless steel ball valve, reinforced Teflon seals, and IP67 waterproof housing.

Klinger Schoneberg GmbH, KTW Technology GMBH, Carrier Global Corp, and Belimo Aircontrols (Can.) Inc, IMI Plc, Ultra Clean Holdings Inc, Siemens AG, Flowserve Corp, Honeywell International Inc, Larsen & Toubro Ltd, Belimo Holding AG, Smart Wires Inc, Flow Dynamics LLC, IoT Technologies, ChengDu ZhiCheng Technology Co., Ltd., Teksun Inc., Autorun Control Valve Co., Ltd., Ham-Let Group, and Rusco are among the key players profiled in the IoT Valve market report. Several other major players were studied and analyzed during the IoT Valve market analysis to get a holistic view of the market and its ecosystem. The IoT Valves market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current IoT Valve market trends and their foreseeable impact during the forecast period.



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