The gate valve market size is projected to reach US$ 14,120.58 million by 2031 from US$ 10,026.91 million in 2023. The market is expected to register a CAGR of 4.4% during 2023–2031. The increasing number of power generation and wastewater treatment facilities is likely to remain a key trend in the market.
The gate valves are also utilized in low-pressure applications as industrial fittings. Water, steam, gases, and other comparable fluids with low corrosion, hydrogen mixes, and aggressive mediums are all possible working mediums for these split wedge gate valves. Isolation valves are the primary function of these gate valves. Gate valves have found application in various mechanical devices, including workplace HVAC and water systems and an automobile's gasoline motor. Furthermore, gate valves are widely found in homes and commercial facilities and are utilized for various functions. These valves are made of various materials, including stainless steel, cast iron, alloy steel, forged steel, and others.
The key stakeholders in the global gate valves market ecosystem include raw material suppliers, gate valves manufacturers, and end-users. The rising demand for gate valves in manufacturing units across different industries is one of the prominent factors driving the demand for gate valves. The raw material suppliers offer raw materials such as steel, iron, and aluminum for various valve types of gate valves, such as flexible wedge solid wedge, among others. In addition to this, the use of gate valves by end users for facilitating the offering of the necessary velocity, acceleration, and deceleration of fluid to the industrial equipment is further influencing the demand for gate valves.
The governments of various developed countries like the US have taken various initiatives to support the industrial sector in the country. The government initiatives provide various benefits to the industrial companies located in the region and propel the growth of the industrial sector in the country. Thus, influencing the market growth. The high presence of manufacturing companies located in Europe benefitted from the developed facilities available. Being a powerful economy allows companies to spend more on innovations that facilitate the growth of upcoming technologies. Significant investments can bring about more growth in the gate valve market globally.
The developed regions are looking forward to introducing a wide range of water treatment and power generation facilities. Also, several companies in the region are taking strategic initiatives & investing in advanced technologies, which is further boosting the gate valve market. The technological ecosystem in North America and Europe is advanced. The developed regions focus on investing in advanced technologies. For instance, Veolia Water Technologies, which heavily invested in portable water treatment technologies and has solved major issues with a water solutions specialist & offered a number of emergency response services for downtime management, which is anticipated to drive the application of the gate valves. In addition, the rising need for energy is also growing demand for power generation facilities which is also positively influencing the gate valve market over the coming years.
Key segments that contributed to the derivation of the gate valve market analysis are valve type, valve size and application.
The geographic scope of the gate valve market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is leading the market. Asia Pacific is a highly populated region across the world, having a higher demand for energy. The Asia Pacific region is extremely dependent on fossil fuels for energy generation, and to decrease the dependency, countries such as China, India, Japan, and Australia are strongly investing in renewable energy projects. In fact, China is the largest manufacturer as well as holds the largest installation of wind energy projects across the world. The growing number of renewable power generation facilities is acting as a major driver for the gate valve market. Similarly, the growing number of water and wastewater treatment facilities around the world has a significant positive impact on the gate valve industry.
The regional trends and factors influencing the Gate Valve Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Gate Valve Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 10,026.91 Million |
| Market Size by 2031 | US$ 14,120.58 Million |
| Global CAGR (2023 - 2031) | 4.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Valve Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Gate Valve Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Gate Valve Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The gate valve market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the gate valve market are listed below:
The “Gate Valve Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the gate valve market in 2023.
The growing advent of automation is the future trend of the gate valve market.
Bray International, Dezurik, Inc., Emerson Electric Co., ITT Inc., Mueller Co. Llc, Orbinox, Sistag Ag, Stafsjö Valves Ab, Weir Group Plc, Zhejiang Linuo Fluid Control Technology Co., Ltd are some of the leading players in the market.
US$ 14,120.58 million estimated value of the gate valve market by 2031.
4.4% is the expected CAGR of the gate valve market.