North America Gate Valve Market

The North America gate valve market is expected to grow from US$ 1,715.14 million in 2021 to US$ 2,279.46 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028.

Since the beginning of the industrial revolution, technological advancements have led to a tremendous surge in industrial production capacities; as a result, the dependence of the regional economy on manufacturing has increased. According to PricewaterhouseCoopers (PwC), growing economies, labor quality, tax policies, regulatory environments, and transportation and energy prices are the factors that have catalyzed the comeback of the manufacturing sector. As a result of the expanding manufacturing sector, the dependent markets, including mechanical equipment providers, are flourishing. Moreover, with the emergence of new categories of consumers in developing countries, manufacturers are likely to have significant new prospects. Innovations catalyze the evolution in demands, thus compelling manufacturers to use modern equipment, including gate valves, in manufacturing units. Gate valves offer the necessary fluid flow between different industrial equipment setups. These valves function as a component that cuts through obstructions in heavy liquids and gases by using a blade. These knife gate valves were first introduced into the pulp and paper sector to chop stringy pulp between manufacturing locations. Gate valves were quickly adopted across various sectors, including oil & gas, wastewater treatment, mining, and electricity, due to ease of handling and low costs. The adoption of gate valves has subsequently risen across all production sites. These are often available in big capacities to efficiently handle heavy and viscous slurries, grease, oil, paper pulp, varnish, and wastewater flows, among others. The availability of gate valves with technology-driven provisions propels the gate valve market growth.

Vendors in the North America gate valve market can attract new customers and expand their footprints in emerging markets by providing innovative products. This is likely to drive the market at a notable CAGR during the forecast period.

 North America Gate Valve Market Revenue and Forecast to 2028 (US$ Million)  

North America Gate Valve Market Segmentation          

The North America gate valve market is segmented on the basis of valve type, valve size, application, and country. Based on valve type, the market is segmented into flexible wedge, solid wedge, and split wedge or parallel disk valve. The solid wedge segment dominated the market in 2021. Based on valve size, the North America gate valves market is segmented into 2" to 12", 14" to 36", and 42" and above. The 14" to 36" segment dominated the market in 2021. Based on application, the North America gate valves market is segmented into oil and gas, water and wastewater treatment, chemical, and others. The oil and gas segment dominated the market in 2021. Based on country, the North America gate valve market has been categorized into the US, Canada, and Mexico. The US dominated the market in 2021.

Bray International; DEZURIK, INC; Emerson Electric Co.; ITT Inc.; Mueller Co. LLC; Orbinox; Sistag AG; STAFSJö VALVES AB; and The Weir Group PLC are among the leading companies operating in the North America gate valves market.