Hybrid Valve Market

Global Hybrid Valve Market Size (2024 to 2029)

The Global Hybrid Valve Market size is expected to reach USD 1.90 billion by 2029 from 1.41 billion USD billion in 2024, registering a CAGR of 6.2 % from 2024 to 2029.

The hybrid valves operate mechanically and electrically for a smooth flow of solutions. They are usually combinations of two or more valves with multiple working functions. They are mainly used to control excessive noise, pressure, cavitation, and vibration in operations. They are used in chemical plants, oil & gas refineries, and chemical and pharmaceutical industries for smooth operations of solutions.

Global Hybrid Valve Market Drivers:

The increase in the adoption of hybrid valves to reduce vibration, pressure, and noise in industries such as oil & gas, chemicals, metal & mining, and pharmaceuticals is driving the market growth. Oil & gas companies are using hybrid valves to prevent corrosion and control the excessive pressure during production in oil fields is propelling the market growth. Further increases in investment in the chemical sector of the U.S. and Canadian countries are fuelling the market growth. In addition, the increasing demand for valve technology that can be monitored in remote conditions is supporting the hybrid valve market expansion.

The growing demand for advancements such as 3D printers in valve manufacturing is providing a lucrative opportunity for the hybrid valve market. Further increase in remote monitoring operations in manufacturing industries such as oil & gas, chemicals, water & wastewater treatment is supporting the market growth in coming years. Furthermore, the increase in the number of refineries and chemical plants is providing huge opportunities for market growth in the forecast period.

Global Hybrid Valve Market Restraints:

The high manufacturing cost of hybrid valves limits the market growth in the period. The production involves intense procedures to make the valves resistant to noise, pressure, and vibration, which accounts for high fabrication prices. Further, the requirement of a professional to repair and do periodical maintenance of valves impedes market growth. In addition, the lack of standard international policies and regulations regarding the production parameters will hamper the market expansion globally.

Impact of COVID-19 on the hybrid valve market:

The world has faced humanitarian loss and economic crisis amidst the deadliest virus. The virus emerged as a combination of two complex viruses. It has spread to almost 200 countries at an alarming rate. The nations were ordered to contain the virus and handle the ongoing economic crisis. The pandemic has disrupted a number of businesses around the world and resulted in unemployment, travel bans, and challenges in imports and exports. A large gap in supply and demand mismatches for essential goods is observed globally. Several businesses have shut down their production temporarily or scrapped the projects, while vital businesses have limited their production. This outbreak has had a negative economic impact on the Hybrid Valve Market. Industries such as oil and gas, water and wastewater treatment, and chemical industries have closed down, partially abiding the government regulations. Further, the shortage of raw materials and the increase in the cost of production have impacted the market growth. However, a positive curve is observed post-COVID due to increased hybrid valve adoption in industries.

REPORT COVERAGE:

This research report on the global hybrid valve market has been segmented and sub-segmented based on material, valve size, end-user industry, and region.

Global Hybrid Valve Market - By Material:

• Steel
• Tungsten Carbide
• Duplex Nickel
• Titanium
• Alloy
• Others

The steel hybrid valve segment is expected to account for the largest market revenue during the forecast period. The growing demand for hybrid valves that can work in high temperatures and steam to handle the greater flow of liquids and corrosive materials is driving the market growth. The increase in applications in chemicals and water & wastewater treatment is further supporting the market growth expansion.

Global Hybrid Valve Market - By Valve Size:

• Upto 1’’
• 1’’ to 6’’
• 6’’ to 25’’
• 25’’ to 50’’
• 50’’ and Larger

The 1’’ to 6’’ segment holds the largest market revenue in the hybrid valve market during the forecast period. The growing application of 1’’ to 6’’ hybrid valves to control the flow and pressure of water, oil, chemicals, and slurries. Even an increase in demand for 1-6 size hybrid valves in several industries such as oil & gas, food & beverage, pharmaceuticals, and energy & power is bolstering the Hybrid Valve Market growth in the period.

Global Hybrid Valve Market - By Industry:

• Oil & Gas
• Energy & Power
• Water & Wastewater
• Building & Construction
• Chemicals
• Pharmaceuticals
• Agriculture
• Metal & Mining
• Paper & Pulp
• Food & Beverage
• Others

The Chemical industry holds the largest market share in industrial segmentation during the forecast period. The chemical industry needs hybrid valves for controlling complex and distinctive noises. The equipment, such as high-pressure pumps, mixers, valves, and associated pipelines, produces acoustical challenges. Hence hybrid valves are used to reduce unnecessary noise. These factors are significantly driving the Hybrid Valve Market in the period. Following healthy growth is observed in the oil and gas industry in the forecast period owing to the expansion of new oil refineries and an increase in oil and gas production.

Global Hybrid Valve Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America 
• Middle East and Africa

The North American region is anticipated to register the highest share in the Hybrid Valve Market during the forecast period. The high economy countries such as U.S. and Canada have highly automated manufacturing facilities of prime players in the region. Further increase in the application of hybrid valves in the oil & gas, chemical, water, and wastewater treatment is accelerating the market share in the region. The expanding infrastructure development for clean energy generation is also significantly contributing to the market growth. In addition, an increase in government investments in the chemical sector is fuelling the Hybrid Valve Market growth in the region.

KEY MARKET PLAYERS:

Major Key Players in the Global Hybrid Valve Market are Emerson Electric Co., IMI Plc., Trillium Flow Technologies, Chemtrols EMET Private Limited., Dymet Alloys, Carter Process Control GmbH, Penn United Technologies, Inc., MASCOT, Automat Industries Ltd., Flowserve Corporation, L&T Valves Limited, BLACOH Fluid Controls, Inc., Circor International Inc., KOSO INDIA, Wuxi Smart Auto-Control Engineering Co. LTD. And others.

 RECENT HAPPENINGS IN THE MARKET:

• In 2023, Dymet Alloys attended the AISTech 2023 exhibition, an iron and steel technology conference held from 8-11 May 2023. The conference provided perspective on engineering and technology expertise necessary for steel producers, suppliers, and consultants.
• In 2023, Dymet Alloys attended the AISTech 2023 exhibition, an iron and steel technology conference held from 8-11 May 2023. The conference provided perspective on engineering and technology expertise necessary for steel producers, suppliers, and consultants.