India Industrial Valves Market to Boost in Coming Years – Projected to Reach worth USD 3.7 billion by 2028

Published | 04 October 2022

The growth of the India industrial valves market can be attributed to rapid industrialization coupled with increasing automation of industrial processes. Also, increasing adoption of industrial valves in sewage pumps, sewage treatment plants, and several other applications further fuels the growth of the industrial valve market. In addition, the installation of new power plants and the expansion of existing power plants in the country escalating the market growth. Moreover, increasing pipeline installations and growing demand for pipeline monitoring and control from a central location are having a positive impact on the market.

A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the India industrial valves market was worth USD 2.6 billion in 2021 and is anticipated to reach USD 3.7 billion by 2028 growing at a CAGR of 5.2%. This is attributable to a rise in foreign direct investment in industries such as oil & gas, chemical & petrochemical, growth in the pipeline network, and a rise in small and medium-sized manufacturers. In India, the industrial valve market has grown significantly over the past years due to increasing industrial applications and government interest in expanding pipeline infrastructure for natural gas supply. The rising degree of industrialization and increasing automation of industrial processes support the market's growth.

Good trade relations to drive the market growth

India is well known for its trade ties with many countries over the past decade. That provides Indian manufacturers with more export opportunities. With huge stocks to use, valve shortages are no problem, and Indian valves are exported to other countries, so it will be Indian companies that benefit from trade ties and that help to boost the market growth. Industrial valves were exported to over 161 countries from India in 2021. In 2020–2021 (April–November), India exported USD 363.62 million worth of industrial valves.

Globe valve accounted for the largest market growth in 2021 by Type

Based on the type, the India industrial valves market is segmented into globe valve, ball valve, check valve, butterfly valve, gate valve, and others. The globe valve segment dominated the Indian industrial valve market in 2021, and this segment is expected to maintain its dominant position during the forecast period due to its widespread use in the oil & gas and water and wastewater management industries. The growing number of pipeline installations and the growing need to control and monitor them from a central location positively impact the market growth of this sub-segment. Moreover, butterfly valves are expected to exhibit the fastest growth rate in the coming years due to the increasing number of water and sewage management and power plants in India.

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Impact of COVID–19 on the India Industrial Valves Market

The COVID–19 pandemic has hit the oil and gas industry hard, with oil prices dropping significantly. Various restrictions imposed by governments led to a sharp drop in demand for oil and gas, creating a large gap between supply and demand. Oil and gas is one of the major industries that use valves. The water and wastewater treatment, power, and energy industries are also major end users of valves. These industries have also seen a drop in demand due to the global pandemic. Closed borders, non–functioning distribution channels, and various public health and safety precautions restricted foreign trade. However, as the cases are decreasing and with people's growing interest in a better and safer lifestyle, maintain of hygiene is expected to receive more and more attention, which in turn boosts the growth of the industrial valves market in the water and wastewater treatment industry. Due to rising demand from the energy and power sector, the industrial valve market for energy and power end-user industries is likely to expand gradually in the forecast period.

Competitive Landscape

The India Industrial Valves Market is very fragmented. All key Players operating in India Industrial Valves Market are L&T Valves, Kirloskar Brothers Limited, Ampo Valves, Emerson Electric Co., CRI Pumps, VIP Valves Private Limited India, Amco Industrial Valves, Amtech Valves, Hawa Engineers Ltd, Novel Valves, Other players. Recent technological developments adopted by the players to use cutting–edge tools such as artificial intelligence (AI) and Internet of Things (IoT) technologies help to gain a competitive edge in the overall market. The key marketing strategies adopted by the players are facility expansion, product development, alliances, collaborations, partnerships, and acquisition to expand their customer reach.

Don’t miss the business opportunity of the India Industrial Valves Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in–depth analysis provides information about growth potential, upcoming trends, and the India industrial valves market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India industrial valves market along with industry insights to help decision–makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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