Diverter Valves Market Size, Share, Growth, and Industry Analysis, By Type (Auto Diverter Valves, Manual Diverter Valves), By Application (Food and Beverage, Construction, Medicine, Chemical, Mineral, Plastics, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Diverter Valves Market REPORT OVERVIEW

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The global diverter valves market size was USD 224.1 million in 2022 and market is projected to touch USD 348 million by 2031, exhibiting a CAGR of 5.0% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The diverter valves market refers to the global industry involved in the manufacturing, distribution, and sales of diverter valves. Diverter valves are mechanical devices used to control the flow of materials or fluids within a system by diverting them to different pathways. These valves are commonly used in various industries, including oil and gas, chemical, water and wastewater treatment, pharmaceuticals, food and beverages, and power generation.

The market for diverter valves is driven by several factors, including industrial expansion, infrastructure development, and the need for efficient flow control in different processes. The increasing demand for energy, water, and other resources has led to the growth of industries that rely on diverter valves for efficient operation and process control.

The market is highly competitive and fragmented, with several global and regional players competing for diverter valves market share. Key manufacturers in the industry offer a wide range of diverter valve products to cater to diverse industry needs. These valves vary in terms of size, material, design, and functionality, allowing customization based on specific application requirements.

Overall, the diverter valves market is expected to witness steady growth in the coming years, driven by industrial expansion, infrastructure development, and the need for efficient process control across various sectors. Technological advancements, such as the integration of smart and automated features into diverter valves, are also expected to shape the market's future landscape.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 pandemic has significantly impacted the diverter valves market, causing disruptions across industries and global supply chains. Lockdown measures, travel restrictions, and workforce shortages led to closures and reduced operations in manufacturing facilities, resulting in supply chain disruptions and delays in the availability of diverter valves. Industries such as oil and gas, chemical processing, and power generation experienced a decline in demand and activity, leading to a decreased installation and replacement of diverter valves. Infrastructure projects, including water treatment plants and power plants, faced delays and disruptions, affecting the demand for diverter valves.

Moreover, the pandemic prompted industries to reassess priorities and allocate budgets cautiously, impacting investment decisions and the procurement of diverter valves. However, as economies gradually recover and vaccination efforts progress, industrial activities are expected to rebound. The resumption of projects and increased demand for energy, water, and resources will drive the need for diverter valves. The recovery and growth of the market will depend on factors such as the effectiveness of containment measures, government policies, and the overall economic landscape.

It is important for manufacturers and suppliers to adapt to the changing market conditions and meet the evolving needs of customers in a post-pandemic environment to facilitate the market's recovery. The pace of recovery may vary across regions and industries, and the market's trajectory will be influenced by the ability to overcome challenges and seize opportunities in the aftermath of the pandemic.

LATEST TRENDS

"Increasing Demand for Smart and Automated Diverter Valves"

The integration of advanced technologies, such as Internet of Things (IoT) and automation, is a growing trend in the diverter valves market. Smart diverter valves equipped with sensors and actuators offer real-time monitoring, remote control capabilities, and data-driven insights for improved process efficiency, predictive maintenance, and reduced downtime.

"Rise in Focus on Energy Efficiency to Fuel Market Growth "

Energy conservation and efficiency have become critical considerations in industrial processes. Diverter valves designed to minimize energy losses, optimize flow control, and reduce pressure drops are gaining prominence. These valves help industries achieve energy savings, comply with environmental regulations, and reduce operational costs.

"Huge Adoption of Sustainable Materials to Boost Market Progress"

The emphasis on sustainability and environmental responsibility has led to the adoption of eco-friendly materials in diverter valve manufacturing. Manufacturers are exploring alternatives to traditional materials by using recyclable, corrosion-resistant, and low-emission materials that offer improved longevity and reduced environmental impact.

Diverter Valves Market SEGMENTATION

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• By Type

Based on type the diverter valves market is classified as auto diverter valves, manual diverter valves.

• By Application

Based on application the diverter valves market is classified as food and beverage, construction, medicine, chemical, mineral, plastics, others.

DRIVING FACTORS

"Growing Demand for Industrial Expansion to Fuel Market Growth "

The expansion of industrial sectors, including oil and gas, chemical processing, power generation, and water and wastewater treatment, drives the demand for diverter valves. As industries expand their operations and capacities, the need for efficient flow control and process optimization increases, leading to the installation and replacement of diverter valves.

"Infrastructure Development"

Infrastructure projects, such as water treatment plants, power plants, and manufacturing facilities, contribute to the demand for diverter valves. These valves play a crucial role in regulating fluid flow, directing materials to different pathways, and ensuring the efficient operation of infrastructure systems.

"Energy Demand and Power Generation"

The increasing global demand for energy drives the development of power generation facilities. Diverter valves are essential components in power plants, including thermal power plants, nuclear power plants, and renewable energy installations. They help control the flow of steam, water, and other media, ensuring efficient and safe power generation.

RESTRAINING FACTORS

"Economic Volatility"

Economic fluctuations, recessions, or periods of low economic growth can negatively impact the diverter valves market. During economic downturns, industries may reduce their investments and delay projects, leading to a decrease in the demand for diverter valves.

Diverter Valves Market REGIONAL INSIGHTS

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The diverter valves market exhibits diverse regional insights across different parts of the world. In North America, the market benefits from the presence of well-established industries such as oil and gas, chemical processing, power generation, and water treatment. The region's focus on energy efficiency, environmental regulations, and infrastructure development drives the demand for diverter valves. Additionally, the adoption of automation and smart valve solutions is a prominent trend in this region.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The diverter valves market consists of several key industry players that contribute to its competitive landscape. While the specific players may vary based on region and market segment. A wide range of diverter valves, including manual, automated, and smart valve solutions, to cater to the needs of various industries such as oil and gas, chemical processing, power generation, water and wastewater treatment, and others.

It's important to note that the market dynamics can change over time, and the presence and influence of specific industry players may vary accordingly. Additionally, there are numerous regional and niche players that contribute to the overall competition and innovation in the diverter valves market.

List of Market Players Profiled

• GEA(Germany)
• Coperion(Germany)
• DMN-Westinghouse (Netherlands)
• FLSmidth (Denmark)
• Schenck Process (Germany)
• Salina Vortex (United States)
• Scheuch (Austria)
• Wamgroup (Italy)
• SchuF (Germany)
• KICE (United States)
• Pelletron Corporation (United States)
• Magnum Systems (United States)
• Gericke (Switzerland)
• Bush & Wilton (United States)

REPORT COVERAGE

The diverter valves market is experiencing significant growth and development driven by various factors. Industries such as oil and gas, chemical processing, power generation, and water and wastewater treatment are demanding efficient flow control solutions, propelling the market forward. Technological advancements, including automation and smart valve solutions, are shaping the market by offering improved performance, accuracy, and control.

Key driving factors include stringent environmental regulations, a focus on energy efficiency, infrastructure development, and the need for enhanced process control and optimization. These factors prompt industries to invest in advanced diverter valve solutions, enhancing operational efficiency, reducing emissions, and ensuring compliance with environmental standards.

Overall, the diverter valves market growth is tremendous and potential. As industries continue prioritizing operational efficiency, sustainability, and regulatory compliance, the demand for diverter valves is expected to rise. Market players have opportunities to innovate and expand their presence in the global market by meeting the evolving needs of industries worldwide.