Ball valves have a simple construction that features a ball mounted within a pipe. The ball valves are majorly known for their high durability, damage resistance, and low service requirements. They can be repaired easily without the need for intense workmanship. Furthermore, these valves do not require lubrication while offering a bubble-tight seal with low torque. Ball valves are also affordable and easy to use. In addition, they can handle and regulate high volume, pressure, and flow at elevated temperatures, which makes them suitable for operations involving various gasses and liquids. Thus, these factors are propelling the adoption of ball valves in industries such as oil & gas, water & wastewater, and chemicals & petrochemicals. For instance, in November 2022, FITOK Group announced the launch of its new BGP series ball valves for specialty gas, semiconductor, and chemical industry applications. Butterfly valves are also among the most used valves in the industrial sector. The body of the valve is lightweight and available in disc and wafer form; it requires significantly less structural assistance than other types of valves such as ball valves. Further, they are cost-efficient and easier to install. Butterfly valves are well-known for their ability to effectively handle slurries and corrosive liquids. Thus, with rising urbanization, coupled with increasing deployment of wastewater treatment plants, the industrial valve market players are witnessing huge demand for butterfly valves. Hence, the rising use of ball valves and butterfly valves are fueling the industrial valve market growth.
The industrial valve market in South America (SAM), based on country, is segmented into Brazil, Argentina, and the rest of South America. Over the years, South America has experienced a rapid increase in oil production. The region presently produces 7.5 million barrels of oil per day.
Venezuela and Brazil control most Central and South American oil output. Venezuela has always been the largest producer in South America. The country has 18% of the world's total oil reserves. Thus, the significant presence of oil & gas industry in South America is driving the regional industrial valve market growth.
South America Industrial Valve Market Segmentation
The South America industrial valve market is segmented based on material type, valve type, industry, and country. Based on material type, the South America industrial valve market is segmented into cast iron, steel, cryogenic, alloy-based, and others. The steel segment held the largest market share in 2023.
Based on valve type, the South America industrial valve market is segmented into ball valves, butterfly valves, diaphragm valves, safety valves, piston ram valves, gate valves, and control valves. The ball valves segment held the largest market share in 2023.
Based on industry, the South America industrial valve market is bifurcated into oil & gas and chemicals & petrochemical. The oil & gas segment held a larger market share in 2023.
Based on country, the South America industrial valve market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the South America industrial valve market share in 2023.
Velan Inc.; Crane Co.; Flowserve Corp; Emerson Electric Co.; KITZ Corporation; Neway Valve (Suzhou) Co., Ltd; Spirax Sarco Engineering Plc; Schlumberger Ltd; and Weir Group PLC are the leading companies operating in the South America industrial valve market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 990.98 Million |
| Market Size by 2028 | US$ 1129.59 Million |
| CAGR (2023 - 2028) | 2.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Industrial Valve Market is valued at US$ 990.98 Million in 2023, it is projected to reach US$ 1129.59 Million by 2028.
As per our report South America Industrial Valve Market, the market size is valued at US$ 990.98 Million in 2023, projecting it to reach US$ 1129.59 Million by 2028. This translates to a CAGR of approximately 2.7% during the forecast period.
The South America Industrial Valve Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Industrial Valve Market report:
The South America Industrial Valve Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Industrial Valve Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Industrial Valve Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Industrial Valve Market
