US Industrial Valve Market Set for Steady Growth to $123 Billion by 2034 Driven by Infrastructure Expansion and Smart Technology Adoption
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The US industrial valve market is projected to grow at a CAGR of 3.40% from 2024-2034, reaching $123.05 billion by 2034 due to increasing demand from industries like healthcare and pharmaceuticals.
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Smart technologies like sensors and remote monitoring in industrial valves provide real-time control, reduce costs and downtime, and improve safety, presenting a lucrative opportunity.
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Infrastructure development, better equipment performance, IoT, Industry 4.0, expanding refineries and petrochemical plants are driving market growth.
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Top players like GE, Emerson, Flowserve, Schlumberger, and TechnipFMC are using mergers, acquisitions, and new product launches to gain market share.
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Recent developments include a Tecnik Fluid Controls - ITT Industries joint venture to produce valves for the Indian pharmaceutical industry and BDK Valves' acquisition of a 100% stake in Theis Precision Steel India.