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India Gas Valve Market Size - By valve Type (Liquefied petroleum Gas Valve, Cryogenic Valve, Air Separation Valve), By Component (Gears, Housing, Bearings, Others), By Application, By End-use, By Distribution Channel & Forecast, 2024 - 2032


Published on: 2024-07-30 | No of Pages : 240 | Industry : Industrial-Machinery

Publisher : MIR | Format : PDF&Excel

India Gas Valve Market Size - By valve Type (Liquefied petroleum Gas Valve, Cryogenic Valve, Air Separation Valve), By Component (Gears, Housing, Bearings, Others), By Application, By End-use, By Distribution Channel & Forecast, 2024 - 2032

India Gas Valve Market Size

India Gas Valve Market was valued at USD 315 million in 2023 and is estimated to grow at a CAGR of 4.6% during 2024 to 2032. Gas valves are mechanical devices used to control the flow of gases in various applications, including residential, commercial, and industrial settings. These valves play a critical role in regulating the distribution of gases such as natural gas, propane, methane, and others, ensuring safe and efficient operation of gas systems.

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The gas valve market in India is expanding due to the increased industrialization and infrastructure development. There is a growing demand for gas valves in various industries such as power generation, manufacturing, oil & gas and constructions. Ongoing development projects in construction, transportation requires gas valves for the distribution of gas networks in commercial and residential buildings.

Furthermore, India is exploring oil and gas sector, with a strategic focus on bolstering domestic production to lessen its reliance on imported fuels. This will drive the demand for valves for safety and regulation purposes. Safety is critical for the oil and gas sector; gas valves play an important role in preventing leaks, controlling the flow of gases, and minimizing the risks associated within the sector.
 

India Gas Valve Market Report Attributes
Report Attribute Details
Base Year 2023
India Gas Valve Market Size in 2023 USD 315 Million
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4.6%
2032 Value Projection USD 469.72 Million
Historical Data for 2021 - 2023
No. of Pages 487
Tables, Charts & Figures 428
Segments covered Valve type, function, gas type, application, industry sector, distribution channel
Growth Drivers
  • Increasing industrialization and infrastructure development
  • Exploration in oil and gas sector
Pitfalls & Challenges
  • Regulatory compliance
  • Price sensitivity
  • Adoption of renewable energy sources

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The Indian gas valve market encounters challenges in adhering to regulatory safety standards and environmental mandates. All these safety regulations and frameworks keep evolving and changing with time. Manufacturers must be aware of any updates in regulations and ensure that the valve meets all the technical requirements and certifications.

Additionally, the gas valve market is highly competitive where manufacturers face challenges in offering competitive pricing, leading to price wars and low profit margins. The adoption of renewable energy sources like solar and wind is also a threat to the growing demand for valves.

India Gas Valve Market Trends

In India gas valve industry, the prevailing trend centers around automated gas valve systems. Increased digitization in industries has generated the] need for automated solutions. Automated gas valves are known for their advanced features such as automatic mechanisms; they also have automated safety features which help in reducing the risk of damage due to leakage. The demand for Automated valves demand is expected to rise due to their efficient operation and safety regulations.

India Gas Valve Market Analysis

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In 2023, cryogenic valves segment was crossed USD 130.4 million and is likely to exceed USD 197.8 million by 2032. Cryogenic valves are the major segment due to their critical application in the LNG industry. Cryogenic valves are known for LNG storage and transportation due to their ability to handle the low temperature of gases. Cryogenic valves are designed with special materials to handle extreme temperatures. Furthermore, cryogenic valves are widely used in the medical sector for handling gases such as oxygen, nitrogen and argon. They ensure safety in healthcare and industrial gas applications by giving precise control of the gases and maintaining operational efficiency.

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Based on function, the pneumatic / electric control valve was worth USD 209.03 million in 2023 and is expected to reach USD 314.7 million by 2032. This dominance can be attributed to the reliability and performance of pneumatic / electric control. Pneumatic and electric control systems provide quick response times in emergency situations in case of leaks and system failure. This further helps in minimizing the risks associated with gas handling. Pneumatic control requires less maintenance as compared to manual control. They are also durable, further increasing their adoption in various industries and contributing to the overall growth of the gas valve market.

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India gas valve market size surpassed USD 315 million in 2023 and is projected to hit USD 469.7 million by 2032. India is a growing country due to the rapid industrialization and infrastructure development projects in sectors such as oil and gas, power and manufacturing where gas valves act as a critical component for ensuring operational efficiency while meeting the strict safety guidelines.

Region level analysis

The west zone was valued at USD 206.98 million in 2023 and is estimated to grow at a CAGR of 4.9% during 2024 to 2032. The zone emerged as a dominant due to the presence of high petrochemical plants and heavy industries in states like Maharashtra and Gujrat. Gujrat is also one of the largest producers of crude oil and natural gas in India. The zone strong refineries presence and high production capacity is growing the demand for gas valves in the zone further contributing to the overall growth of the India valve market.
The West Zone with states like Maharashtra, Gujarat, and Rajasthan, is the leading region in the gas valve market. Maharashtra and Gujarat are industrial giants with diverse manufacturing bases, including chemicals, petrochemicals, pharmaceuticals, automotive, and engineering. Gujarat is known for its strong chemical and petrochemical industries, driving high demand for gas valves.

East zone is generating a substantial revenue of USD 14.54 million and is expected to reach USD 18.79 billion by 2032. In the east zone of India assam state plays a significant role in country’s oil and natural gas sector. Assam has natural gas reserves located in Brahmaputra valley. Additionally ongoing projects including pipeline facilities there is a demand for high quality gas valves. Projects like NEGG (Northeast gas grid project) is further expected to boost the demand for gas valves in the east zone.

India Gas Valve Market Share

India gas valve industry is fragmented in nature due to presence of local and global players across the globe. Key market players include L&T valves limited, Emersion electric, Amtech, Hawa engineers LTD, and Imi critical engineering., which collectively held around 5.1% market share in 2023. These prominent players are actively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

India Gas Valve Market Companies

Major players operating in the India gas valve industry are

  • Amtech
  • Audco India Limited
  • Beekay Industries
  • Emerson Electric
  • Flosteer Engineers Pvt. Ltd.
  • Fluidline Valves Company Pvt. Ltd.
  • Hawa engineers LTD
  • Imi critical engineering
  • L&T valves limited
  • Rotex Automation Limited
  • Samson Controls Pvt. Ltd.
  • Sri Venkat Engineers
  • Uniklinger Ltd.
  • Unitech Combustion
  • Virgo Valves & Controls Pvt. Ltd.

India Gas Valve Market Industry News

  • In September 2023, Samson Controls announced the launch of its new factory for manufacturing valves and systems in Ranjangaon, Maharashtra.
  • In February 2023, Emerson launched its first combustion safety shutoff valves, certified for biodiesel use in commercial boilers in Asian countries.
  • In April 2018, Metso acquired the valve automation division of India based Rotex.

This India gas valve market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2032, for the following segments

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Market, By Valve Type

 

  • Liquefied petroleum Gas Valve
    • Ball Valve
    • Check Valve
    • Gate Valve
    • Globe Valve
    • Others
  • Cryogenic Valve
    • Ball Valve
    • Check Valve
    • Gate Valve
    • Globe Valve
    • Butterfly Valves
    • Others
  • Air Separation Valve
    • Ball Valve
    • Check Valve
    • Gate Valve
    • Globe Valve
    • Butterfly Valves
    • Others

Market, By Function

  • Manual
  • Pneumatic/electric Control

Market, By Gas type

  • Liquefied Natural Gas
  • Liquid Nitrogen
  • Hydrogen
  • Oxygen
  • Other Gases

Market, By Application

  • Supplying Line
  • Filling Device
  • Bulk Storage Tank
  • Gas Transportation
  • Storage Tank & Piping
  • Others

Market, By Industry sector

  • Water & Wastewater
  • Food & Beverage
  • Chemicals
  • Pharma
  • Pulp & Paper
  • Oil & Gas
  • Power
  • Semiconductor
  • Others

Market, By Distribution channel

  • Direct Sales
  • Indirect Sales

The above information is provided for the following regions and countries

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )