Middle East & Africa IoT Valves Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Middle East & Africa IoT valves market size is expected to reach US$ 115.26 million by 2031 from US$ 64.91 million in 2023. The market is estimated to record a CAGR of 7.4% from 2023 to 2031.

Executive Summary and Middle East & Africa IoT Valves Market Analysis:

The MEA IoT valves market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Countries in the MEA are among the most water-scarce countries in the world. Consequently, these countries invest heavily in the mobilization of their water resources. The region also has various water treatment plants in Cape Town, Morocco, Egypt, etc. The IoT valve, embedded within water treatment plants, controls the water flow remotely. The IoT water sensors detect the water quality data and transmit it to the cloud via gateways. Various players are launching new IoT valves in the region. For instance, in June 2021, Velmet launched the next-generation versatile butterfly valve platform. It provides new functionality while relying on proven technologies and decades of experience in the Middle East.

The MEA is an oil-rich region as several countries have large reserves of oil and natural gas. A few of the largest oil-producing countries in the region are Saudi Arabia, Iraq, Iran, Kuwait, and the UAE. According to the General Authority for Statistics, natural gas reserves increased by 0.91% in 2021 compared to 2020 in Saudi Arabia, reaching 8,293 million tons of oil equivalent (TOE), i.e., 329,081 billion cubic feet. Natural gas production amounted to 126 million TOE in 2021, equivalent to 4,928 billion cubic feet, recording a surge of 2.94% compared to 2020. Crude oil reserves increased by 0.04% in 2021 compared to 2020, reaching 37,065 million TOE, i.e., 267,192 million barrels. Thus, the growing oil and gas production in the MEA generates the need for IoT valves.

Middle East & Africa IoT Valves Market Strategic Insights

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Middle East & Africa IoT Valves Market Segmentation Analysis

Key segments that contributed to the derivation of the Middle East & Africa IoT valves market analysis are connectivity, type, and end user industry.

• Based on connectivity, the Middle East & Africa IoT valves market is bifurcated into wired and wireless. The wired held a larger share of the market in 2023.
• Based on type, the Middle East & Africa IoT valves market is segmented into pressure independent control valve (PICV), regular valves, and energy valves. The pressure independent control valve (PICV) held the largest share of the market in 2023. The regular valves segment is further sub segmented into ball valve, butterfly valve, safety valve, and others.
• Based on end use industry, the Middle East & Africa IoT valves market is segmented into industrial, commercial, and residential. The industrial held the largest share of the market in 2023.

Middle East & Africa IoT Valves Market Outlook

The rise in energy and water conservation efforts is a significant driver for the IoT valves market. As the global focus intensifies on sustainable practices, governments, industries, and consumers are seeking solutions that optimize resource usage. IoT valves provide precise control, monitoring, and automation in these conservation efforts. In manufacturing plants, IoT valves can regulate the flow of steam, gases, and liquids used in various processes. By using sensors and data analytics, these valves can adjust the flow based on real-time requirements, reducing energy waste. For instance, Bosch is developing smart factories utilizing IoT in manufacturing. Sensors in these facilities collect data on all parts of the manufacturing procedure, which includes everything from the chain of distribution to the assembly line. Municipal water supply systems can leverage IoT valves to monitor and control water distribution networks. In a smart city project, IoT valves can detect leaks in the water supply system and shut off the affected section to prevent water loss. They can also optimize water pressure in different areas based on usage patterns, ensuring efficient water distribution. Governments are implementing stricter regulations on energy and water usage, incentivizing industries to adopt smart technologies. Additionally, consumers are becoming more environmentally conscious, seeking products and solutions that contribute to sustainability.

Middle East & Africa IoT Valves Market Country Insights

Based on country, the Middle East & Africa IoT valves market comprises the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held the largest share in 2023.

Saudi Arabia has approximately 17% of the world's proven petroleum reserves, making the country one the largest exporters of petroleum. Also, the country has the second-largest proven oil reserves in the world. However, according to the International Energy Agency (IEA), global oil supply in April 2022 saw the largest monthly loss since February 2021, decreasing by 710,000 barrels per day (bpd) to 98.14 million bpd. This was due to the war between Russia and Ukraine, which prompted numerous sanctions on Russia, leading to a ban on oil from the country's oil and gas exports. Hence, to solve this problem, in May 2022, the government of Saudi Arabia announced its plan to increase oil production by over 1 million bpd by the end of 2026 or the beginning of 2027. Thus, the growing enhancement in the oil production in the country will increase the demand for IoT valves which are used to manage the flow and pressure of oil in the pipelines. Various market players in the country are focusing on expanding their manufacturing facilities to cater to the rising demand for IoT valves. For instance, in November 2022, IMI Saudi Industry LLC announced that it had opened a new 5,000 sq m facility in Dammam to supply valve solutions in the country and enhance national manufacturing capabilities. This new site will manufacture butterfly and ball valves of various sizes and pressure ratings for oil and gas, power, water, petrochemical, and hydrogen markets. All the above factors are fueling the growth of the IoT valves market in Saudi Arabia.

Middle East & Africa IoT Valves Market Report Highlights

Middle East & Africa IoT Valves Market Company Profiles

Some of the key players operating in the market include Klinger Holding GmbH; KTW Technology GMBH; Carrier Global Corp; Belimo Holding AG; IMI Plc; Ultra Clean Holdings Inc; Siemens AG; Flowserve Corp; Honeywell International Inc; Larsen & Toubro Ltd; Smart Wires Inc; Flow Dynamics LLC; IoT Technologies; ChengDu ZhiCheng Technology Co., Ltd.; Teksun Inc.; Autorun Control Valve Co., Ltd.; Ham-Let Group; and Rusco, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Middle East & Africa IoT Valves Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Middle East & Africa IoT Valves Market Country and Regional Insights