Hydraulic Valves Market

Hydraulic Valves Market Outlook (2022-2032)

The global hydraulic valves market will reach a valuation of US$ 5,459.1 million in 2022 and is expected to progress at a CAGR of 3.8% to reach US$ 7,895.8 million by the end of 2032.

Sales of hydraulic valves accounted for nearly 10% of the global valves market by the end of 2022.

Report Attributes	Details
Hydraulic Valves Market Size (2021A)	US$ 5,272.3 Million
Estimated Market Value (2022E)	US$ 5,459.1 Million
Forecasted Market Value (2032F)	US$ 7,895.8 Million
Global Market Growth Rate (2022-2032)	3.8% CAGR
North America Market Share (2022)	~40.0%
North America Market Value (2022)	US$ 2,184.5 Million
Europe Market Share (2022)	~ 19.3%
Europe Market Value (2022)	US$ 1,054.9 Million
China Market Share (2022)	~ 4.5%
China Market Value (2022)	US$ 245.8 Million
Top 3 country Market Share	~ 37.9%
Key Companies Profiled	Bermad Water Technologies Bosch Rexroth Burkert CBF Hydraulic Continental Hydraulics Curtiss-Wright Daikin Industries Eaton Emerson Electric ENERPAC Haskel HAWE Kawasaki Heavy Industries Oilgear Parker Hannifin Pedro Roquet Sun Hydraulics Versa Products Woodward Textron

Sales Analysis of Hydraulic Valves (2017-2021) Vs. Market Outlook (2022-2032)

A hydraulic valve is a mechanical device used to regularize the flow of fluids in a hydraulic system. They can be used to completely close lines, divert pressurized fluids, or control flow to specific areas.

Hydraulic valves are used in construction machinery to achieve the required functional performance. Loaders, graders, dump trucks, and excavators rely heavily on hydraulic valves for their operation. They operate under very severe conditions with pressures up to 350 bar and more.

Growth in the construction industry is primarily driven by the development of large-scale infrastructure projects, so the demand for construction machinery is expected to increase. All these factors will have a positive impact on the sales of the hydraulic valves as the hydraulic systems are widely used in this industries.

• Short Term (2022 Q2 to 2025): Growing construction, automobile, agriculture industry will positively impact hydraulic valves market growth.
• Medium Term (2025-2028): U.S. and China projected to witness comparatively high demand for hydraulic valves due to increased projects in construction industry.
• Long Term (2028-2032): With the integration of technology adding some features such as automated and control software for the hydraulic valves that can monitor and control the flow rate can improve the growth rate of the market.

From 2017 to 2021, the global market for hydraulic valves registered a CAGR of 3.2%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 3.8% CAGR between 2022 and 2032.

Market share analysis of hydraulic valves based on end use industry and region is provided in the above image. Under the end use industry segment, the construction machinery segment dominates with 25.4% market share in 2022.

What’s Driving High Demand for Hydraulic Valves across Regions?

“Demand for the replacement of legacy valves driving the market growth.”

Valves function as a medium that regulates the flow of critical liquids and gaseous materials over long distances. Owing to various external factors, they are susceptible to deterioration over time.

Unchecked damages in aged valves can result in leakages, thereafter, resulting in loss of materials, corrosion, and added pollution (to the environment). The replacement of such aged valves in commercial and industrial applications such as chemicals & petrochemicals, oil & gas, energy & power, and wastewater and water treatments are mandatory.

The demand for replacement has been rising steadily over the past few years. It is evident from refineries and gas distribution companies in the U.S. that are replacing their older worn-out valves with new high-strength products.

Cast and wrought iron valves, which happen to be the oldest known valve material type, used for the purpose of material transportation, especially in the oil and gas sector, are being replaced by carbon steel and corrosion-resistant alloy valves.

“Increasing demand from the mining industry to fuel the demand for hydraulic valves”

The mining industry nowadays demands high-quality hydraulic valves for both underground and surface mining. More often, the mining industry requires valves at pump stations and in mine site fire protection systems.

The mining industry is estimated to witness a positive growth outlook after the recovery of the global economy. Cost reduction is important for mining to stay profitable.

Workers feel risky when they work in deep mines due to the presence of harmful gaseous substances and also because of the failure rate of old equipment due to factors such as pressure and temperature for transporting the fluid substances. Therefore, the demand for specialized equipment and parts, such as highly featured hydraulic valves, is increasing at an accelerated rate.

What Do Hydraulic Valves Manufacturers Need to Watch Out for?

“Rising raw materials costs may restrain the market growth.”

Hydraulic valves are generally made from materials like steel, iron, stainless steel, and others. All these materials usually have high raw material prices. Under certain conditions, there might be unstable or volatile markets for raw materials.

The manufacturing or production costs are directly affected due to the increasing prices of raw materials. These rising prices may destabilize the supply chain and also affect the selling price of the product. These factors may have a negative impact on the market thereby restraining its growth.

Country-wise Insights

“Why is US Hydraulic Valves Market expected to be Lucrative?”

The hydraulic valves are prominently used in the field of construction, mining, agriculture, etc. While, U.S. has highly developed markets in the construction, agriculture, mining, and others, the utilization of hydraulic systems and thereby the hydraulic valves sales and growth will rise.

In 2021, the construction market in US was US$ 1.9 trillion. Some major construction projects like Amazon HQ2 whose estimated budget is to be around US$ 2.5 billion, Central Valley project having an estimated budget of US$ 13.1 billion, etc. are currently under progress in US. Since the hydraulic valves is extensively used in construction, the estimated sales of hydraulic valves in the country is significant.

Agriculture is also very prominent in US, wherein US agriculture industry gives a gross of US$ 157 billion. Major equipment in agriculture like the tractor and farming machineries are installed with the hydraulic systems which thereby use hydraulic valves.

Owing to the increasing penetration of the country across construction and agriculture and other industries, the U.S. hydraulic valves market is expected to reach valuation of US$ 1,902.4 million by 2028 (mid-forecast period).

“Will Increasing Automotive and Construction Sector in China Drive Hydraulic Valves Demand?”

In China, the automobile industry had total volume sales of 26.2 million units in 2021. Power steering, brakes, shock absorbers, and drive system in heavy and commercial vehicles use the hydraulic system in the automobiles. Therefore, higher penetration across automotive industry is expected to have a constant rise which leads to increased unit sales of hydraulic valves.

The construction industry in 2020 was valued around US$ 1,049 billion in China. The hydraulic machines like wheeled tractor scrapers, excavator, bulldozers, etc. need to attain efficiency while performing at different process parameters. The utilization of hydraulic valves in these systems is vital and are installed at higher volume throughout the country.

All these factors will enable the growth of the Chinese hydraulic valves market in the long run. The Chinese market is expected to create absolute dollar opportunity of US$ 81.8 million over the assessment period of 2022-2027.

Category-wise Insights

“Growth of Market for Automated Hydraulic Valves.”

According to the Fact.MR study, there is high demand for automated hydraulic valves as it had captured nearly 68.1% market share in 2021 under operation category.

Automated operation dominates the market mainly due to the ease of electronic implementation and the high price-performance ratio. Automated systems are becoming cheaper, require less maintenance, are more stable, and are more efficient than manual systems.

As the autonomous industry is a driving sector is expected to grow about twice as much as the manual driving sector. Moreover, the automated operations segment is estimated to account for more than 60% of the market share created in the global market during the forecast period.

“How Flow Control Hydraulic Valves are leading the Sales of Hydraulic Valves”

Valves play a vital role in the oil and gas industry as they are a vital part of any piping system. Flow control valves are generally used for the control and regulation of the flow of gases or liquids in a system. Flow control valves monitor and regulate pressure fluctuations in the system.

In addition, flow control valves are used to isolate and protect equipment and control the refining process of crude oil. Demand for oil and gas is steadily increasing, and this demand is driving the need for deeper drilling pipelines and lower production costs.

The demand for excavated pipelines creates opportunities for flow control valves. Flow control valves are expected to grow at a constant CAGR during the forecast period and capture the market by 31.1% in 2022.

Competitive Landscape

Eminent hydraulic valves manufacturers are Bermad Water Technologies, Bosch Rexroth, Burkert, CBF Hydraulic, Continental Hydraulic, Curtiss-Wright, Daikin Industries, Eaton, Emerson Electric, ENERPAC, Haskel, HAWE, Kawasaki Heavy Industries, Oilgear, Parker Hannifin, Pedro Roquet, Sun Hydraulics, Versa Products., Woodward Textron etc.

The market for industrial valves is significantly fragmented in nature. A large number of regional as well as global players are involved in the manufacturing of industrial valves. Hence, the manufacturers are focusing on targeting key end-use industries, such as oil & gas, chemical, water & wastewater treatment, power plants, etc.

Leading market players are also constantly channelizing resource in order to develop automated hydraulic valves to pave way for rising sales across end use industries.

• Continental Hydraulic invested over US$ 40 million in 2022, in order to build a Hydraulic Hose production facility in San Luis Potosí, Mexico, Latin America.
• Emerson expanded its business in India by opening an integrated manufacturing facility in Mahindra World City, Chennai in February 2022. It is a 145,000-square-foot manufacturing center that will manufacture industrial products.

Fact.MR has provided detailed information about the price points of key manufacturers of hydraulic valves positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Hydraulic Valves Industry Research

• By Type :

  • Directional Control Valve
  • Flow Control Valve
  • Formula1
  • Pressure Control Valve

• By Flow Rate :

  • Below 50 L/min
  • 50-200 L/min
  • 201-500 L/min
  • 501-1000 L/min
  • Above 1000 L/min

• By Operation :

  • Automated
  • Manual

• By End Use Industry :

  • Agriculture Machinery
  • Automotive
  • Construction Machinery
  • Material Handling
  • Metal & Mining
  • Oil & Gas
  • Power Generation
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia &Oceania
  • Middle East & Africa