Industrial Valves - Procurement Best Practices & Sourcing Strategies

Procurement Market Intelligence Report

Industrial Valves – Procurement Best Practices & Sourcing Strategies

Industrial Valves Market – Executive Summary, Market Analysis, Market Monitoring Insights, Procurement Best Practices, Supplier Analysis, COVID-19, Innovation Framework and Sustainability Initiatives, Purchasing Process: RFP/RFI Builder

1. Executive Summary
1.1. Global Industrial Valve Outlook
1.2. Supply Market Outlook
1.3. Demand Market Outlook
1.4. ELINT’s Recommendations for an Ideal Category Strategy
1.5. Category Opportunities & Risks
1.6. Negotiation Leverage
1.7. Talking Points to Business
1.8. Category Summary – Covid-19 Impact
2. Market Analysis
2.1. Market Maturity
2.2. Regional Trends
2.3. Drivers and Constraints
2.4. Industrial Valve Revenue Breakup by Valve Type and End-use Industry
2.5. Technological Trends
2.6. Regional Market Outlook
2.7. Porter’s Five Force Analysis
3. Market Monitoring Insights
3.1. Cost Structure
3.2. Direct Materials: Future Trend and Impact on Buyer
3.3. Pricing Analysis
3.4. Key Success Factors in Procurement of Industrial Valves
3.5. Commodity and Labor Price
4. Procurement Best Practices
4.1. Sourcing Models
4.2. Comparative Analysis and Pros and Cons
4.3. Cross-industry Sourcing Model Adoption
4.4. Pricing Models
4.5. KPIs and SLAs
5. Supplier Analysis
5.1. Supply Market Outlook
5.2. Global Suppliers
5.3. Regional Suppliers
5.4. Key Global Suppliers: Company Profile
5.5. Key Global Suppliers: SWOT Analysis
6. COVID-19
6.1. Supplier Watch
6.2. Sourcing Location Watch
6.3. Industry Watch
7. Innovation Framework and Sustainability Initiatives
7.1. Industrial Valves – Trends and Innovations
7.2. Sustainability Initiatives: Industry Valves
8. Purchasing Process: RFP/RFI Builder
8.1. RFP Builder

  1. What are the past and future market size projections of the global industrial valves?

– As per our statistics, the global industrial valve market size earned $97.4 billion value in 2023. Additionally, it is expected that it will further expand at a CAGR of 3-4% by the year 2025, and achieve $104.6 billion value.

 

  1. What are the primary drivers for the global industrial valve industry?

– The consistent emergence of water or wastewater management plants, power plants, and automated & AI-based valve techniques are the foremost market drivers of industrial valves.

 

  1. Which countries are arising in the international industrial valve market?

– India and China are the two major rising regions in the worldwide valve market. Apart from them, some other regions include the United States, Japan, Germany, and Canada.

 

  1. What are the significant trends in the industrial valve market?

The incorporation of smart technologies into industrial valves is expected to be crucial in the upcoming years. The smart valves are able to automatically adjust settings, track fluid flow, and identify leaks, because of technology-driven detectors, actuators, and AI-based control systems.

DESCRIPTION

Global Industrial Valve Market Size:

According to ELINT Market Research, the industrial valve market holds a robust presence globally and is continuously evolving. It is estimated that in the year 2023, this industry size has reached $97.4 billion.

 

Further, our recent study about its future projections says that the industrial valve market will grow at a CAGR of 3-4% and achieve $104.6 billion by the year 2025. In this large sector, one noteworthy development appears which is fragmentation in generic valves.

 

This fragmentation increases the overall activity and rivalry of the market and reflects the wide diversity of enterprises in the industry. Additionally, these generic valves are receiving high buyer power, which means the wide count of purchasers significantly shaping this market dynamics. Some of the key factors that contribute to this high buyer power include a competitive price environment and the availability of different suppliers and products.

Market Definition:

Industrial valves are mechanical devices that work as crucial fluid control systems in multiple industries. It means they control or maintain the flow of different fluids like liquids and gases within pipelines.

 

Further, this industry comprises various kinds of valves to execute required industrial processes such as globe valves, gate valves, ball valves, and butterfly valves, each of them works as per their specifications.

Key Industrial Valve Market Drivers:

  1. Increasing Need for Wastewater Management and Power Plants in Emerging Countries –

Presently, different emerging countries are utilizing industrial valves for water or wastewater management and power plant operations.

 

Hence, as these nations experience continuous economic development, the need for dependable and effective fluid control systems also increases to sustain their expanding infrastructure. Consequently, this factor is automatically driving the need for industrial valves in the global valves market.

 

  1. Valves Market Experiencing Growth as Developed Countries Adopting Valves Replacement and Utilization of Smart Valves Techniques:

Another major factor for driving growth is the constant replacement of conventional valves and the evolution of smart valve mechanisms in developed countries. These trendy valves comprise handy features like sensors, automation, real-time monitoring, etc.

 

Therefore, nowadays, multiple businesses are prioritizing protected, efficient, and viable fluid control systems for their day-to-day operations and they are transitioning focus toward such innovative valve solutions.

Global Industrial Valve Market Challenges:

  1. Risk of Technical Expiration –

One of the prominent challenges that the global valve market could face is day-by-day decreasing utilization of conventional fluid control mechanisms. Hence, to be in the competitive race of this sector, industry players must adapt to ongoing technological transitions

 

  1. Fulfilling the Latest Environmental Standards –

In an industrial valve market, governments are launching stricter regulations and standards globally to improve security, decrease emissions, and promote endurable methods within different industries.

 

Consequently, companies working in this sector must ensure that they fulfill these standards, and for that, they’ll need to make significant investments in their research, development, and production processes. Hence, this could prove a prime challenge for this industry.

 

  1. Valve Failure or Inefficiency During Industrial Processes

A seamless fluid control operation completely depends on the robustness of industrial valves and in case of any malfunction or failure of these valves, the whole process could be restrained. Therefore, this is a major challenge in front of companies since it can cause production losses and safety risks.

Industrial Valve Market Opportunities:

  1. AI-based Valves and Smart Water Supply

Multiple businesses are adopting AI-based water supply systems over traditional methods, which is a major opportunity and transformative trend in the valve market. These AI-integrated appliances play a pivotal role in improving efficiency, sustainability, and the overall regime of water resources.

 

  1. Increasing Focus on Eco-Friendly Valves:

Manufacturers working in the fluid management sector are actively pursuing eco-friendly valve solutions to obey strict environmental laws and decrease their carbon footprint. For this, they can invest in research and production of environmentally friendly valve designs which will place them as leaders in an eco-intended industrial atmosphere.

 

Industrial Valve Market Segmentation:

  1. Type of Valve –

We can segment the industrial valve market based on type, where different valve kinds are involved such as globe valves, butterfly valves, gate valves, etc. These valves fulfill their unique functions within water management devices and that is why diverse market players utilize them in their procedures.

 

  1. Material of Valves –

Another crucial factor of valve market segmentation depends on the material used in valves.  These different materials are steel, cast iron, alloy, cryogenic, plastic, bronze, etc. depending on which the valves majorly function.

 

  1. End User Industry –

Numerous end-user industries are employing industrial valves which include chemicals, agriculture, wastewater treatment, energy and power, pharmatucal, food and beverage, and many more. Each industry includes individual demands for industrial valves, so this is also a prominent segmentation aspect of this market.

Main Cost Components in the Industrial Valve Market:

Organizations require a detailed understanding of the main cost component in the industrial valve market to efficiently manage their finances and make appropriate decisions. One of the most notable cost components is the direct material which comprises a significant share of the total price structure that is nearly 50-53%.

 

Moreover, since direct material costs hold a substantial part of the total cost, any kind of fluctuations in its material prices could affect the whole cost structure for manufacturers.

Engagement Models in the Industrial Valve Market:

When it concerns acquiring valve components multiple organizations in the industrial valve market are employing distinct engagement models such as preferred suppliers and multiple suppliers.

 

Thus, whenever any company uses a preferred supplier model they build strategic partnerships with an individual supplier who becomes the main source to fulfill their industrial valve needs.

 

On the other hand, when a business employs multiple supplier mechanisms they complete their valve component needs from various sellers.

 

Pricing Models in the Industrial Valve Market:

In the industrial valve sector, pricing models are very important for assessing the financial sustainability of expenditures and creating fair contracts between producers and their customers. The most used pricing methods include the cost-plus model and the fixed-price model.

 

The cost-plus model provides total transparency to its customers, this approach sets the selling cost of valves by adding a pre-planned profit margin to the actual production expense.

 

In distinction, the fixed price model instead of making changes in production prices, establishes a fixed and predefined cost for the industrial valves. Hence, the customers benefit from this model’s predictable costs and they can easily build budgeting and financial plans.

Low-Cost Destinations for the Industrial Valve Market:

Among industry valves market players examining low-cost locations is getting important day-by-day since they want to save their expenses and enhance competitiveness. Consequently, in this context, the two major cost-effective destinations that have emerged are India and China. Thus, this is the reason why numerous brand names are moving to establish their valve business in these countries.

Technical Evolution of Industrial Valves:

The industrial valve industry has encountered a substantial technical evolution in recent years. This sector is moving on from traditional manual valves to advanced-level smart valve mechanisms.

 

Earlier manual valves were the key instruments for managing fluid flow in industrial operations. After that, the actuators controlling manual valves were introduced which enabled remote and automated handling of water-flowing functions.

 

And finally, in the present time, the beginning of smart valve utilization is taking place in the valve market. These AI-based tools are helping multiple organizations at a huge level; now, they can easily keep track of real-time data and make independent decisions.

Leading Market Suppliers of Industrial Valve Market:

Some of the major suppliers of the industrial valve market include Schlumberger, Flowserve​, Bray​, CIRCOR International Inc​, Parker-Hannifin Corporation, Curtiss Wright​, AVK Holding​, and KSB​. Further, many other leading giants and newcomers are emerging in this industry and trying to enhance their brand visibility.

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