North America IoT Valves Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The North America IoT valves market size is expected to reach US$ 817.27 million by 2031 from US$ 379.74 million in 2023. The market is estimated to record a CAGR of 10.1% from 2023 to 2031.

Executive Summary and North America IoT Valves Market Analysis:

Several businesses in the US are increasingly adopting automation and new technologies. The high penetration of the Internet across North America, coupled with initiatives by key market players to promote the use of digital technologies for seamless and smooth business operations and human error reduction, catalyzes the adoption of IoT valves across North America. In November 2021, Rusco, a US-based manufacturer of water sediment filtration products, announced the launch of "Smart Ball Valve." These valves can be operated using apps on Android Apple devices and accessed on Zigbee and Wi-Fi models. They are made for commercial, municipal, and residential water filtration systems. This smart valve automates two basic functions—flow shut off and sediment flushing. The apps are alerted if something interrupts normal operations and provide a safe shut-off during power cuts, which improves the overall performance of a water filter system. Thus, the IoT valves market in North America is dominated by automation and the development of smart solutions in water filtration systems.

The demand for IoT valves is rising in various industries, such as wastewater and industrial water and chemical processing. Low-headloss characteristics of IoT valves can reduce energy costs during operations in these industries. To cater to the demand for IoT valves from these industries, market players in North America are continuously developing new and innovative IoT valve solutions.

North America IoT Valves Market Strategic Insights

Get more information on this report Request Free Sample PDF

North America IoT Valves Market Segmentation Analysis

Key segments that contributed to the derivation of the North America IoT valves market analysis are connectivity, type, and end user industry.

• Based on connectivity, the North America IoT valves market is bifurcated into wired and wireless. The wired held a larger share of the market in 2023.
• Based on type, the North America 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 North America IoT valves market is segmented into industrial, commercial, and residential. The industrial held the largest share of the market in 2023.

North America IoT Valves Market Outlook

Automation and smart solutions are widely used in industries worldwide, such as oil & gas, water management, and energy. According to OpenGov Asia, in 2022, Germany ranked fifth after China, Japan, Korea, and the US in automation and smart solutions in industries. The various government and multiple lobby organizations of several countries’ manufacturing, electronic, and software industries formed the Hightech Strategy with an aim to emphasize and adopt digital products and IoT-related business models. The strategy focuses on the industry 4.0 initiative to improve manufacturing practices by introducing the integration of IoT with components used in the manufacturing process. Moreover, various players across the country are involved in building IoT networks. The innovative machine and sensor network facilitate digitization in a wide range of industries such as pharmaceutical and oil & gas. Also, various companies are integrating IoT devices in the agriculture sector.

Installation of IoT-based equipment, sensors, and smart solutions in these industries is facilitating easy and efficient operations. Thus, with the rising adoption of automation and smart solutions across industries, the integration of IoT with equipment at manufacturing facilities is also increasing.

Many manufacturers in the world are incorporating IoT, smart solutions, and automation in the oil & gas industry. Automation and smart solutions are used to reduce downtime, optimize the used resources, and ultimately boost productivity in the industry. Automation includes features such as integration with IoT with components such as valves, predictive maintenance, energy efficiency, scalability, and human-machine collaboration. IoT valves allow for control and optimization of operations, resulting in greater efficiency, production, and cost savings. IoT valves remote control intelligent automation by utilizing IoT capabilities, which leads to energy savings, cost-effectiveness, and improved safety. Thus, the growing demand for automation and smart solutions in various industries drives the global IoT valve market.

North America IoT Valves Market Country Insights

Based on country, the North America IoT valves market comprises the US, Canada, and Mexico. The US held the largest share in 2023.

The US is one of the largest petroleum producers, with over 500,000 producing wells. According to the US Energy Information Administration, the US has 130 petroleum refineries that produce petroleum products to meet the demands of the country and other nations. To strengthen its import activities, the country is focused on building new refineries to increase its petroleum production. According to the US Energy Information Administration, the US's newest refinery became operable in Texas on January 1, 2022. The country is also planning to increase the existing refineries' refining capacity and build new ones, which demand IoT valves for the efficient working of these refineries. To cater to the demand from these refineries, market players, such as Emerson Electric Co and Flowserve Corp, are providing IoT valves that can be used in demanding applications such as oil and gas refineries. IoT valves also allow for remote monitoring and control of processes in large refineries. Thus, the growing demand for IoT valves in upgrading and building new refineries will propel the IoT valves market in the US.

North America IoT Valves Market Report Highlights

North America 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.

North America 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

North America IoT Valves Market Country and Regional Insights