ESD Valve Market Valuation to Reach US$ 581.9 Million by 2034 | Future Market Insights, Inc.
ESD valves sales in the United States are poised for significant growth, with a projected compound annual growth rate (CAGR) of approximately 4.1% throughout the assessment period. The total valuation of these valves within the nation is expected to escalate to US$ 135.2 million by the year 2034.
/EIN News/ -- NEWARK, Del, April 18, 2024 (GLOBE NEWSWIRE) -- The global ESD valve market is estimated to be valued at US$ 315.9 million in 2024 and US$ 581.9 million by 2034. The global ESD valve sales are anticipated to surge at a CAGR of 6.3% throughout the assessment period.
Ball valves are expected to remain a highly sought-after product in the market. This is due to their advantages, like versatility and cost-effectiveness. The target segment is anticipated to grow at 4.8% CAGR through 2034.
The growth of the ESD valve industry is expected to be propelled by several factors. These include increasing emphasis on improving industrial safety and the expansion of energy and chemical sectors. Similarly, the implementation of stringent safety regulations will likely foster market growth.
Amid rising industrial accidents, there is a growing focus on safety in industries like chemical, oil & gas, and power generation. This is expected to drive demand for ESD valves, and the trend will likely continue during the assessment period.
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Innovations aimed at enhancing valve performance, reliability, and smart functionality are set to offer new growth opportunities. Subsequently, the global push towards cleaner energy sources and more stringent environmental regulations will likely propel ESD valve sales.
The rapid growth of the oil and gas industry globally is anticipated to propel ESD valve demand. Oil and gas exploration, production, and processing are inherently high-risk operations. As a result, they need advanced safety components and systems like ESD valves.
ESD valves are crucial for ensuring the safety of oil and gas operations. They provide rapid shutdown capabilities in emergencies, thus preventing potential accidents and minimizing environmental impact.
North America is expected to retain its dominance in the global ESD valve industry during the forecast period. This can be attributed to the rising adoption of safety systems like ESD valves in the industrial sector.
“ESD valves play a critical role in ensuring safety by rapidly cutting off the flow of hazardous materials or fluids in an emergency, thereby preventing accidents and ensuring equipment and personnel protection. As a result, their demand is expected to rise rapidly amid rising emphasis on enhancing workplace safety and complying with regulations” - Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Report
- The global ESD valve market is projected to total US$ 581.9 million by 2034.
- By application, the oil & gas segment is expected to total US$ 224.8 million by 2034.
- Based on type, ball valve demand is set to grow at 4.8% CAGR through 2034.
- North America is predicted to account for a share of about 28.7% in 2024.
- ESD valve sales in China are projected to total US$ 58.4 million by 2034.
- Demand in India is poised to grow at 5.7% CAGR through 2034.
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Who is Winning?
The global ESD valve market is moderately consolidated, with leading players accounting for about 30% to 35% of the share. Emerson Electric Co., Schlumberger Limited, Rotork plc, Flowserve Corporation, Cameron International Corporation, IMI plc, General Electric Company, Pentair plc, Honeywell International Inc., ABB Ltd, Metso Corporation (Part of Neles), Weir Group PLC, Velan Inc., SAMSON AG, and Neway Valve are top ESD valve manufacturers and suppliers listed in the report.
Key players are concentrating on expanding their product offerings by launching advanced ESD valves to help industries meet safety and compliance requirements. They also employ strategies like partnerships, collaborations, acquisitions, and distribution agreements to stay ahead of the competition.
Recent Development:
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In May 2022, Emerson launched the new DX PST emergency shutdown discrete valve controller.
ESD Valve Industry Report Scope:
| Attribute | Details | |||
| Estimated Market Size (2024) | US$ 315.9 million | |||
| Projected Market Size (2034) | US$ 581.9 million | |||
| Anticipated Growth Rate (2024 to 2034) | 6.3% | |||
| Historical Data | 2019 to 2023 | |||
| Forecast Period | 2024 to 2034 | |||
| Quantitative Units | Value (US$ Million) and Volume (Units) | |||
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | |||
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Want More Insights?
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global ESD valve market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on type, actuation method, application, end-user, and region.
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