Rapid growth of manufacturing industry in Asia-Pacific is expected to propel the market growth.
LAMEA, on the other hand, LAMEA would showcase the fastest CAGR of 5.6% during the forecast period. This is attributed to the growth of food & beverage industry in Asia-Pacific.Īsia-Pacific garnered the major share in 2021-īy region, Asia-Pacific held the major share in 2021, garnering nearly two-fifths of the global Industrial Valves Market. The food & beverage segment would also display the fastest CAGR of 5.9% throughout the forecast period. The oil & power segment is expected to dominate the market during the forecast period-īy application, the oil & power segment accounted for over two-fifths of the global industrial valves Market share in 2021, and is expected to rule the roost by 2031. This is attributed to its cost effectiveness and operational efficiency.
The butterfly valve segment is expected to showcase the highest CAGR of 5.8% throughout the forecast period. The globe valve segment held the largest market share during the forecast period-īy valve type, the globe valve segment held the major share in 2021, holding around one-fifths of the global industrial valves market revenue.
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