Report Overview

Growing trend of industrial automation, a spurring demand for efficient energy solutions, infrastructure development, technological advancements, and increased investments in oil & gas and water treatment sectors are expected to fuel the growth of South Korea Industrial Valves Market during the forecast period between 2024 and 2030.

South Korea Industrial Valves Market – Industry Trends & Forecast Report, 2030

South Korea Industrial Valves Market size by value was estimated at USD 2,545.61 million in 2023. During the forecast period between 2024 and 2030, South Korea Industrial Valves Market size is expected to expand at a CAGR of 10.60% reaching a value of USD 5,511.44 million by 2030. Major factors driving the growth of South Korea Industrial Valves Market include infrastructure-related projects, enhanced equipment performance, longer lubricant life, and lower repair costs. Industrial valves are essential for controlling gases, liquids, and vapors in various industries, including oil and gas, food and beverage, energy, utilities, and water treatment. The market is expected to grow due to Industry 4.0 and IoT, petrochemicals and refineries, and 3D printing in valve manufacturing.

Industrial Valves – Overview

Industrial valves are crucial in various industries, controlling liquid, gas, and slurries flow and pressure. Key types include gate, globe, ball, butterfly, and check valves. Advances in technology have led to smart valves, improving efficiency and safety. Despite challenges like high costs and maintenance complexities, they remain vital for modern processes.

South Korea Industrial Valves Market

Growth Drivers

Focus on Automation and Upgradation

South Korea Industrial Valves Market is experiencing significant growth due to a heightened focus on automation and upgradation. Industries are increasingly adopting advanced valve technologies to improve operational efficiency, reduce downtime, and enhance safety. The integration of smart valves with IoT and AI capabilities allows for real-time monitoring and predictive maintenance, driving demand. Further, investments in upgrading existing infrastructure to modern standards are propelling market expansion as businesses strive for higher productivity and cost-effectiveness.

Challenges

Stringent Safety and Environmental Regulations

South Korea Industrial Valves Market is significantly influenced by stringent safety and environmental regulations. These regulations necessitate compliance with high standards to ensure safety and minimize environmental impact, driving demand for advanced and efficient industrial valves. Manufacturers are compelled to innovate and invest in cutting-edge technologies to meet these rigorous standards, thereby shaping market dynamics and fostering growth through enhanced valve performance and reliability.

Impact of Escalating Geopolitical Tensions on South Korea Industrial Valves Market

Escalating geopolitical tensions may significantly impact South Korea Industrial Valves Market. Heightened tensions may disrupt the supply chain, causing delays and increased costs for raw materials and components. This can lead to higher prices for industrial valves and potential shortages. Additionally, geopolitical instability can affect investor confidence and economic stability, potentially reducing capital investments in industrial projects. Trade restrictions and sanctions may also limit market access to essential technologies and international markets. However, local manufacturers might see increased demand as companies seek to reduce reliance on international suppliers. Overall, while the market may face challenges, it could also drive local industry growth and innovation in response to global uncertainties.

South Korea Industrial Valves Market

Segmental Information

South Korea Industrial Valves Market – By Valve Type

By valve type, South Korea Industrial Valves Market is divided into Ball Valves, Butterfly Valves, Gate Valves, Globe Valves, Plug Valves, Check Valves, Diaphragm Valves, and other (including Safety Valves) segments. The ball valves segment is the largest valve type in South Korea Industrial Valves Market. Ball valves are highly preferred due to their durability, reliability, and ability to provide tight sealing with low torque, making them ideal for applications requiring robust flow control and minimal leakage. Their widespread usage in various industries such as oil and gas, water and wastewater treatment, and chemical processing significantly contributes to their market dominance.

South Korea Industrial Valves Market – Material Type

On the basis of material type, South Korea Industrial Valves Market is divided into Cast iron, Steel, Alloy based, and other (including Bronze and Brass) segments. The steel segment holds the highest market share in South Korea Industrial Valves Market. Steel valves are highly preferred, due to their durability, strength, and resistance to high pressure and temperature, making them suitable for a wide range of industrial applications, including oil & gas, water & wastewater treatment, and power generation sectors. The robustness and longevity of steel valves drive their dominance in the market.

South Korea Industrial Valves Market – By Functionality

Based on functionality, South Korea Industrial Valves Market is split into On-Off/Isolation Valves and Control Valve segments. On-off/isolation valves are a larger functionality segment in South Korea Industrial Valves Market. The segment’s dominance is due to widespread application of on-off/isolation valves across various industries, including oil & gas, water & wastewater treatment, chemicals, and power generation. On-off/isolation valves are crucial for controlling the flow of liquids and gases, providing reliable shut-off capabilities essential for operational safety and efficiency. Their demand is driven by the need for robust and efficient flow control solutions in industrial processes.

South Korea Industrial Valves Market – Size

By size, South Korea Industrial Valves Market is divided into up to 1”, 1”–6”, 7” –25”, 26” –50”, and 51” and above segments. The 1”–6” size segment holds the largest share in South Korea Industrial Valves Market, due to the extensive use of these valves in various industries such as oil and gas, water and wastewater, and chemicals. Their versatility and suitability for a wide range of applications contribute to their significant demand, making this segment the leading one in the market.

Competitive Landscape

Key players in the highly competitive South Korea Industrial Valves Market include SW-Valve Corporation, AVK Valves Korea Co., Ltd, DAEJIN CO., LTD, EnerMech, Oswal Industries Limited, Flowjet Valve Solutions, PKVALVE&ENGINEERING CO., LTD, ILSHIN VLAVE, Hanyoung Valve, Kwang Engineering Co., Ltd, and KCL VALVE. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Valve Type

• Ball Valves

• Butterfly Valves

• Gate Valves

• Globe Valves

• Plug Valves

• Check Valves

• Diaphragm Valves

• Others (including Safety Valves)

By Material Type

• Cast iron

• Steel

• Alloy-based

• Others (including Bronze and Brass)

By Functionality

• On-Off/Isolation Valves

• Control Valve

By Size

• Up to 1”

• 1” –6”

• 7” –25”

• 26” –50”

• 51” & above

By End User

• Oil & Gas

• Power

• Pharmaceuticals

• Water & Wastewater Treatment

• Chemicals

• Food & Beverages

• Others (including Paper & Pulp)