gate valve Market

The gate valve market is projected to reach US$ 12,988.40 million by 2028 from US$ 8,712.18 million in 2020. It is estimated to register a CAGR of 4.5% during the forecast period.

The gate valve market involves crucial stakeholders, namely, raw material suppliers, gate valves manufacturers, and end users. Raw material suppliers play a significant role by providing essential materials like steel, iron, and aluminum for manufacturing different types of gate valves, such as flexible wedge and solid wedge valves, among others. These valves are utilized in diverse end-user industries for regulating fluid velocity through acceleration and deceleration to operate industrial equipment.

The gate valve market is spread across APAC, the MEA, Europe, North America, and SAM.

Market Overview: Gate valve Market

Modern technologies, including robots, are increasingly being used in the oil and gas sector as well as in the pulp and paper industry to automate complex operations. The utilization of new technologies has led to enhanced efficiency and adaptability in various industries. Automation provides support for interoperability, information transparency, and the protection of manufacturing operations' integrity. Valves have been and continue to be crucial components of process automation systems, regulating critical performance areas such as complex piping systems, variable-temperature pipes, and process pressure management. Valve usage has significantly increased across many verticals due to their ease of installation and maintenance. Leading players in the gate valve market are focused on providing reliable valves, including flexible wedge, solid wedge, split wedge, or parallel disk valves, suitable for a range of applications. In addition, different end-user industries have been replacing long-standing pressure valves with newly developed safety valves capable of alleviating, lowering, sequencing, or discharging fluid pressure. Thus, the growing trend of factory automation is expected to be a boon for the gate valve market in the future.

The surge in industrialization in several emerging economies in Asia is fueling the demand for gate valves in the region. The use of gate valves is anticipated to witness substantial growth over the projected period. Among the Asian nations, China is the most prominent buyer of industrial valves, including gate valves. Additionally, multiple municipal projects and government initiatives aimed at infrastructure development are likely to propel the Asia Pacific gate valve market in the forecast period. Moreover, the Middle East & Africa market's share is expected to grow during the projected period, supported by the increasing demand from the petroleum industry.

Market Driver: Gate valve Market

The industrial revolution kickstarted a remarkable surge in industrial production capacities, leading to an increased reliance on manufacturing worldwide. According to PwC, factors such as growing economies, labor quality, tax policies, regulatory environments, and transportation and energy prices have driven the manufacturing sector's recovery from the pandemic's impact. As the manufacturing sector continues to expand, dependent markets, including mechanical equipment providers, are thriving. Additionally, the emergence of new categories of consumers in developing countries is expected to provide manufacturers with significant new prospects. As demands evolve due to innovations, manufacturers are compelled to use modern equipment, including gate valves, in their manufacturing units.

Gate valves are a critical component that facilitates the necessary fluid velocity between different industrial equipment setups. These valves utilize a blade to cut through obstructions in heavy liquids and gases. Initially developed for the pulp and paper sector to chop stringy pulp between manufacturing locations, knife gate valves quickly gained popularity due to their easy handling and low costs, leading to their adoption by the oil and gas, wastewater treatment, mining, and electricity sectors. Gate valves have since proliferated across all production sites, with large capacity valves available to efficiently handle heavy and viscous slurries, grease, oil, paper pulp, varnish, wastewater flows, and more. Furthermore, the availability of products with technology-driven provisions has further propelled the growth of the gate valve market.

The United Nations Organization's report from March 2019 revealed that 74% of the world's wastewater dumped into the environment is untreated. This has led to rising concerns about untreated sewage and an increased need for wastewater treatment facilities worldwide. To build state-of-the-art treatment facilities, the best water treatment technologies and valves are utilized. Gate valves play a crucial role in water treatment plants, preventing water from flowing when pumps are turned off and mounted on high points of force pumps as main air gate valves to prevent vacuum pockets. As the number of water treatment facilities continues to grow, it is expected to create significant opportunities for gate valve vendors.