January 08, 2025 06:38 ET | Source: Research and Markets Research and Markets
Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Industrial Valves Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering. The Saudi Arabia Industrial Valves Market was valued at USD 3.10 Billion in 2023, and is expected to reach USD 4.31 Billion by 2029, rising at a CAGR of 5.50% Saudi Arabia is experiencing rapid urbanization and infrastructure development, driven by population growth and the need for modern amenities. Urban development projects, including residential complexes, commercial buildings, healthcare facilities, and transportation networks, require robust infrastructure components, including advanced plumbing and water management systems. water muhroom for spray park
Industrial valves play a crucial role in ensuring efficient water distribution, wastewater treatment, HVAC systems, and fire protection within these infrastructure projects. As urbanization accelerates, the demand for industrial valves across various sectors intensifies, creating opportunities for valve manufacturers and suppliers in Saudi Arabia. The Saudi government's investments in mega-projects such as NEOM, Red Sea Project, and Qiddiya are expected to transform the kingdom's landscape and create new industrial clusters. These projects entail the construction of utilities and industrial facilities that rely heavily on industrial valves for fluid control and processing. The development of renewable energy projects, such as solar and wind farms, also contributes to the demand for valves used in energy distribution and storage systems. As Saudi Arabia seeks to reduce its reliance on fossil fuels and increase the share of renewable energy in its energy mix, the deployment of valves in these sectors is set to grow. Infrastructure development and urbanization in Saudi Arabia are key drivers for the Industrial Valves market. The expansion of urban areas, coupled with the construction of large-scale infrastructure projects and renewable energy initiatives, fuels the demand for industrial valves across multiple applications. As of 2023, approximately 85% of Saudi Arabia's population resides in urban areas, with cities like Riyadh, Jeddah, and Dammam seeing substantial growth. The urban population is expected to continue rising as more people migrate to cities for employment and better services. Saudi Arabia's Vision 2030 plan includes a target to invest over $1.3 trillion in various infrastructure projects, aiming to diversify the economy and reduce its reliance on oil exports. This investment spans sectors such as transportation, real estate, energy, and tourism.
Focus on Sustainability and Environmental Compliance The Saudi Arabia Industrial Valves market is increasingly focusing on sustainability and environmental compliance as key drivers of industry practices. With growing awareness of environmental impacts and stringent regulatory requirements, industries are prioritizing solutions that minimize resource consumption, reduce emissions, and enhance operational efficiency. In sectors such as water and wastewater treatment, adherence to environmental standards for effluent quality and discharge limits necessitates the use of valves that contribute to efficient water management and conservation. Advanced valve technologies, including low-emission valves and valves designed for minimal leakage, are gaining traction as industries strive to meet sustainability goals and regulatory obligations. In the oil and gas sector, there is a concerted effort to reduce methane emissions and improve operational efficiency through the deployment of high-performance valves and control systems. Valves equipped with advanced sealing technologies and enhanced valve packing materials contribute to reducing fugitive emissions and enhancing process reliability in critical applications. The emphasis on sustainability is also reflected in the preference for valve materials that are durable, corrosion-resistant, and recyclable, aligning with circular economy principles. Manufacturers and suppliers in the Saudi market are responding to these trends by developing eco-friendly valve solutions and promoting sustainable practices throughout the valve lifecycle, from design and production to installation and maintenance. Initiatives under Vision 2030, such as the National Industrial Development and Logistics Program (NIDLP), underscore the kingdom's commitment to sustainable development and environmental stewardship. As industries in Saudi Arabia continue to prioritize sustainability, the demand for environmentally-friendly valve solutions is expected to grow, driving innovation and market opportunities in the Industrial Valves sector. Expansion of Renewable Energy Projects Saudi Arabia is increasingly investing in renewable energy projects, including solar and wind power, as part of its strategy to diversify energy sources and reduce reliance on fossil fuels. This shift towards renewable energy presents opportunities and challenges for the Industrial Valves market in the kingdom. In particular, valves play a crucial role in controlling the flow of cooling water, heat transfer fluids, and steam in concentrated solar power (CSP) plants and other renewable energy installations. Valve manufacturers are developing innovative solutions tailored to the unique requirements of renewable energy projects, including valves with high thermal efficiency, low pressure drop, and extended service life. The expansion of renewable energy projects in Saudi Arabia is supported by government initiatives, incentives for private sector participation, and partnerships with international renewable energy developers. These efforts aim to increase the kingdom's renewable energy capacity and contribute to global sustainability goals, driving demand for specialized valve solutions and creating opportunities for market growth and diversification.
Competitive Landscape Detailed analysis of the major companies present in the Saudi Arabia Industrial Valves Market.
Key Topics Covered: 1. Product Overview 1.1. Market Definition 1.2. Scope of the Market 1.2.1. Markets Covered 1.2.2. Years Considered for Study 1.2.3. Key Market Segmentations 2. Research Methodology 2.1. Objective of the Study 2.2. Baseline Methodology 2.3. Formulation of the Scope 2.4. Assumptions and Limitations 2.5. Sources of Research 2.5.1. Secondary Research 2.5.2. Primary Research 2.6. Approach for the Market Study 2.6.1. The Bottom-Up Approach 2.6.2. The Top-Down Approach 2.7. Methodology Followed for Calculation of Market Size & Market Shares 2.8. Forecasting Methodology 2.8.1. Data Triangulation & Validation 3. Executive Summary 4. Voice of Customer 5. Saudi Arabia Industrial Valves Market Overview 6. Saudi Arabia Industrial Valves Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Product (Quarter-turn Valve, Multi-turn Valve, Others) 6.2.2. By Valve Type (Globe, Ball, Butterfly, Wedge Gate, Knife Gate, Check, Diaphragm, Pinch, Resilient Seal Gate, Others) 6.2.3. By Material Type (Cast Iron, Steel, Cryogenic, Alloy Based, Others) 6.2.4. By Application (Oil & Gas, Refinery, Chemical, Water, Wastewater Effluent, Power Generation, Agriculture, Mining, Others) 6.2.5. By Region (Riyadh, Makkah, Madinah, Eastern Province, Dammam, Rest of Saudi Arabia) 6.3. By Company (2023) 6.4. Market Map 7. Riyadh Industrial Valves Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Product 7.2.2. By Valve Type 7.2.3. By Material Type 7.2.4. By Application 8. Makkah Industrial Valves Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Product 8.2.2. By Valve Type 8.2.3. By Material Type 8.2.4. By Application 9. Madinah Industrial Valves Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Product 9.2.2. By Valve Type 9.2.3. By Material Type 9.2.4. By Application 10. Eastern Province Industrial Valves Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Product 10.2.2. By Valve Type 10.2.3. By Material Type 10.2.4. By Application 11. Dammam Industrial Valves Market Outlook 11.1. Market Size & Forecast 11.1.1. By Value 11.2. Market Share & Forecast 11.2.1. By Product 11.2.2. By Valve Type 11.2.3. By Material Type 11.2.4. By Application 12. Market Dynamics 12.1. Drivers 12.2. Challenges 13. Market Trends and Developments 14. Saudi Arabia Economic Profile 15. Company Profiles 15.1. Business Overview 15.2. Key Revenue and Financials 15.3. Recent Developments 15.4. Key Personnel/Key Contact Person 15.5. Key Product/Services Offered
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