Gate Valve Market Size, Revenue Share, Major Players, Growth Analysis, and Forecast, 2033

The global gate valve market is set for significant expansion, with projected revenues reaching US$ 14.8 billion by 2023. Industry forecasts indicate a consistent Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2033. This trajectory positions the gate valve market to achieve a noteworthy milestone of US$ 24.3 billion by the end of the assessment period, underscoring its resilience and substantial growth potential.

Central to this growth narrative are the strategic initiatives implemented by industry frontrunners. These market leaders strategically focus on seizing opportunities in offshore and chemical gate projects, effectively strengthening their presence and market dominance within the gate valve sector. Their forward-thinking actions align seamlessly with the escalating demand for gate valves in critical industries such as energy, oil and gas, and chemical processing.

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Gate Valves: Essential Components for Oil & Gas Sector Operations

Gate Valves play a pivotal role within the oil & gas sector, acting as crucial tools for controlling the flow of hydrocarbons during exploration, drilling, and production endeavors. These valves find extensive usage in key infrastructure elements such as wellheads and Christmas trees, where they assume the responsibility of managing oil & gas flow, upholding safety standards, and preventing potential leaks.

The versatile application of Gate Valves spans across both the upstream (exploration and production) and midstream (transportation and storage) segments of the oil & gas industry. In the upstream domain, these valves are strategically placed at wellheads and production facilities. Meanwhile, within the midstream sector, Gate Valves find their role in pipelines and storage tanks, facilitating the smooth transportation and storage of fluids.

Key Insights from Gate Valve Market Analysis:

• Sales of Gate Valves witnessed strong growth with a CAGR of 4.8% from 2018 to 2022.
• The wedge Gate Valves segment is expected to hold a significant market share of 45.4% by 2023 based on disc type.
• The oil & gas segment is projected to create a considerable absolute dollar opportunity of US$ 2,634.9 Million in 2023, in terms of end-use applications.
• Geographically, North America is poised to contribute substantially, accounting for more than 24.7% of the total market value in 2023.
• Brazil is anticipated to generate an incremental opportunity of US$ 354.7 Million in 2023.

Prominent Players in the Gate Valve Market:

• Emerson Electric Co.
• Flowserve Corporation
• AVK Holding A/S
• Velan Inc.
• DeZURIK Inc.
• Zhejiang Zhongcheng Valve Co. Ltd.
• Crane Co. Ltd
• Tecofi
• Weir Group PLC
• Bray International
• Others

Recent Noteworthy Developments:

• Weir Minerals introduced the Isogate WR knife gates valve in March 2012, offering a substantial enhancement in valve performance for mine and aggregates operators.
• AVK Valves launched four new sizes of Gate Valves featuring PE ends with outer pipe dimensions of 450, 500, 560, and 630 mm in February 2020. These additional sizes are available in PN10 and PN16 in black/blue basic pipes.

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Gate Valve Market Segmentation:

By Disc Type:

• Wedge Gate Valve
• Solid Wedge
• Flexible Wedge
• Split Wedge
• Parallel Slide Gate Valve
• Knife Gate Valve
• Slab Gate Valve

By Valve Material Used:

• Cast Iron
• Steel
• Carbon Steel
• Stainless Steel
• Alloy Steel
• Cast Steel
• Brass
• Bronze
• Plastic
• PVC
• CPVC
• PP
• Others

By Size:

• 0.25 inch to 2 inch
• 3 to 12 inch
• 14 to 30 inch
• More Than 30 inch

By End Use:

• Oil & Gas
• Upstream
• Midstream
• Downstream
• Water and Wastewater Treatment
• Flow Control
• High-pressure Applications
• Corrosive Fluid Handling
• Others
• Chemical and Petrochemical
• Power Generation
• Steam System
• Cooling System
• Fuel Supply System
• Others
• Mining and Minerals
• HVAC
• Marine and Shipbuilding
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia Pacific
• East Asia
• Middle East and Africa

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