Global industrial valves market to reach $99.8 billion by 2028, driven by demand in healthcare and smart cities.

From GlobeNewswire: 2024-05-15 08:00:00

The global industrial valves market is estimated to reach $99.8 billion by 2028, with a 4.4% CAGR from 2023. Factors like demand from healthcare, smart city projects, and connected networks drive this growth. Major companies in the industry include Emerson, Flowserve Corporation, and Schlumberger Limited.

Valves play a vital role in the power plant industry, managing steam and water flows. New valve technologies offer improved performance in high-pressure conditions. However, varying valve standards across regions result in high capital investments and low profit margins. Standardizing quality across facilities is essential to address these challenges.

The rising demand for AI-integrated valves in the water supply sector presents opportunities for growth. AI algorithms can improve system performance over time, predicting flow, forecasting future scenarios, and optimizing solutions. Despite technological advancements, unplanned downtime due to valve malfunctioning remains a challenge, leading to production loss and strained customer relationships. Predictive maintenance and smart valve monitoring are being adopted to overcome this issue.



Read more at GlobeNewswire: Industrial Valves Market Size, Share, Trends and