Industrial Valves Market Demand, Share, Growth, Forecast 2023-2028
According to IMARC Group's latest report, titled " Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ", the global industrial valves market size reached US$ 68.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 105.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028. Industrial valves play a crucial role in regulating the flow of gases, liquids, and slurries through pipes and other passageways. These electromechanical devices control the flow through a partial obstruction, opening, or closing of the passageway. Some primary components of industrial valves include sealing rings, body, steam packing, end connectors, union bolts, bonnet yoke nut, operators and actuators, shell, discs, and trim, which work together to ensure effective regulation. In addition to controlling the flow rate, industrial valves also help prevent backflow to the pressurized side and protec...