The European market for butterfly valves has been steadily growing with an expected growth of 4.4% CAGR over 2027. Valvesonly Europe is the largest supplier of premium Butterfly valves in Europe. There are many reasons for its steady growth and this blog throws some light on its reasons.
One of the main reasons for its growth is due to the use of valves in different uses in various industries. In addition, the emerging importance of energy, water, and wastewater management in European countries is promoting the valves market. The European industrial valve market is expected to grow from US$ 7,112.59 million in 2023 to US$ 9,295.25 million by 2028.
Valves are increasingly used in Oil and Gas industries, as oil acts as a base material in extracting and deriving various other chemicals like organic, analytical, physical, inorganic, and biochemistry. Apart from these factors, industrialization has steeped in the European market, increasing the demand for oil and gas substantially. Germany, Denmark, and France are the leading valve manufacturers in Europe. The European industrial valve market is segmented into the following types:
· material type
· valves type
· industry type
· country based
based on the materials type Europe’s valve market is segmented into the following:
· - cast iron
· - cryogenic
· - alloy-based and so on.
Out of these steel segment held the largest market share in 2023, according to various reports.
Based on Valve type, the European industrial valve market is categorized into
The ball valves segment held the largest market share in 2023. Based on industry, the European industrial valve market is segmented into:
· -oil and gas
· -chemicals
-Petrochemicals
Based on Countries, France, Germany, Italy and rest of the Europe. Germany acts as the industrial dominator in the Valve Industry. And held the greatest share in the valve industry.
The introduction of new stringent rules for the ballast water treatment across the Europe in 2019 pushes the urgent need for industrial and increased the demand for valves over the years. High labor costs in process systems, are prompting Europe to prefer automation systems. And thereby increasing valve market expansion in Europe.
Rapid growth of oil and gas industries
To guarantee ongoing effectiveness, major European countries are now placing more emphasis on refurbishing current refineries and enlarging their oil refining facilities to satisfy the increasing need for crude oil. This situation is forecasted to drive up investments in pipeline and infrastructural development, boosting the need for valves in the foreseeable future. Additionally, Italy's Snam and Spain's Enagas investigated building a gas pipeline in May 2022. It is anticipated that the planned pipeline connecting Spain and Italy will be able to handle a maximum annual capacity of 30 billion cubic meters. This follows Europe's attempts to vary its energy sources and reduce its dependence on Russian gas following Russia's invasion of Ukraine.
Moreover, in June 2022, the Netherlands and Germany revealed plans to work together on developing a new gas field in the North Sea to ensure a stable gas supply, while Europe tries to reduce its dependence on Russian fossil fuels. The permission was approved because of the conflict in Ukraine, with drilling at the site anticipated to commence before the end of 2024.
Control valves are expected to maintain a substantial portion of the market.
The control valve adjusts the movement of fluid (like gas, steam, water, or chemicals) to counter any changes in load and maintain the process variable at the desired set point. Control valves play a crucial role in the performance of process control loops, being essential for achieving optimal process efficiency, especially when prioritizing reliability and productivity.
Factors like the rising demand for wireless infrastructure for monitoring equipment in different plants, increased emphasis on automation, and the growing number of process industry establishments are driving the growth of the control valve market.
Primary Sectors of the Economy
Industrial valves have more role in this scene. For example, the production of natural gas, which is commercially very important, requires the use of pipelines and hosepipes.
Industries for producing
· - medicines
· - engines
· - machinery
· - plant engineering
Industries that require valves to function in Europe
1. Power generation companies: Nuclear, thermal, hydroelectric and renewable energy power plants require Valves to operate, control and regulate the flow of fluids like water, steam, and other materials within their systems. Valves ensures safety and security of these powerplants, providing efficiency and proper operation of power generation process.
2. Oil and gas companies: from offshore drilling to refineries and pipelines to exploration, this industry depends on the valves to function. To operate, the flow of fluids, manage oil and gas flow, and other chemicals, this industry utilizes valves. Valves ensures safety, prevent leakage, and regulate the pressure throughout oil and gas processing and transportation.
3. Chemical and petrochemical companies: the complex process involved in the production of chemicals, plastics, etc., or any other activities involved in such industries, using gas, fluids, and other substances require the need to control the flow, pressure, and mixing of materials within the system. And this complex process could have been in vain if there were no valves.
4. Water and waste-treatment plants: for the regulation of the flow of water, chemicals in purification, and treated water distribution, valves have an integral role. All of these plants and facilities rely on the valves to manage wastewater management, flow and pressure control, backflow prevention, etc.
The emerging trends in European markets especially in the industrial sector, Valves play a crucial role and the market insights show us the increasing demand for valves, due to rapid urbanization, industrialization, and economic and defense strategies. No matter the requirements and standards, Valvesonly Europe offers high-quality industrial valves, customized for your needs!
Comments
0 comment