The global hydraulic valve market will reach $8.56 billion by 2034
Fact.MR says in its recent market research report that the demand for hydraulic valves in the oil and gas industry is growing due to the increasing focus on efficient optimization and control of processes.
The global hydraulic valves market size is forecast to reach $5.89 billion by 2024, advancing at a CAGR of 3.8% from 2024 to 2034, reveals market research and competitive intelligence provider Fact.MR's recently updated industry report in its new report.
North America is expected to maintain a 38.3% share of the global market by the end of 2034. South Korean sales of hydraulic valves are expected to grow at a CAGR of 4.6% from 2024 to 2034.
Global demand for hydraulic valves with flow rates of 50-200 l/min is forecast to grow at a CAGR of 4% to reach a market value of USD 2.77 billion by the end of 2034. The market share of automatic hydraulic valves is forecast to reach 68.1% by 2034.
"Growing demand for precise process control, innovations in valve technology, and increased industrial automation are driving the sales growth of hydraulic valves that improve reliability and operational efficiency," says an analyst at Fact.MR.
Global demand for automatic hydraulic valves is forecast to grow at a CAGR of 3.8% to reach a market value of USD 5.83 billion by the end of 2034.
“The market is fragmented, with global and regional companies involved in the manufacture of industrial valves. The major players in the hydraulic valve market are focusing their activities on different end-use industries such as power plants, chemicals, oil and gas, etc”.