Plunger Valve Market Size, Share, Growth, and Industry Analysis, By Type (Manual Plunger Valve and Electric Plunger Valve), By Application (Petroleum, Natural Gas, and Others), and Regional Forecast to 2028

Updated On: 13 November 2023

Report Overview

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The global plunger valve market size was USD 4084 Million in 2022. As per our research, the market is expected to reach USD 5203.4 Million in 2028, exhibiting a CAGR of 4.1% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the plunger valve 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 once the pandemic is over.

The plunger typically has a sealing element, such as a rubber O-ring or a PTFE (polytetrafluoroethylene) ring, that ensures a tight seal when the valve is closed. By moving the plunger back and forth, the valve can control the flow of fluid through the valve body.

In addition, plunger valves are commonly used in various applications, such as hydraulic systems, pneumatic systems, and reciprocating pumps. They are suitable for controlling fluids with relatively low pressures and can handle both liquid and gas flows.

The market is predicted to cultivate with an extensive CAGR over the forecast period due to the growth of industries, rising infrastructure development, and increasing demand from numerous sectors such as oil and gas, chemical processing, water treatment, power generation, and others. Furthermore, the market is split by type, by application, and by regional expansion of the market to influence the market development. 

COVID-19 Impact

"Pandemic Curtailed the Demand & Supply Due to Lockdown Limitations"

The global business industries experienced an adverse effect during the COVID-19 pandemic. Primarily, the lockdown restrictions in 2020-2021 curtailed the demand and supply, disrupted the manufacturing operations, and led to a shortage of raw materials due to travel bane which halted the overall performance of the industries including the plunger valve market. However, the world has emerged with new norms and has controlled the disease of the coronavirus to a great extent. Thereby, the market is anticipated to rebound from previous years’ financial deficit in the coming years.

Latest Trends

"Trend of Monitoring and Connectivity Features Fortify the Market Outlook"

As per this forecast, the market for plunger valves is projected to flourish owing to the constantly evolving market trends and developments. For instance, the latest trends and developments in the valve market include the increased adoption of smart valves with monitoring and connectivity features, a focus on environmental sustainability with energy-efficient and eco-friendly designs, integration of Industrial Internet of Things (IIoT) technologies for data-driven insights, advancements in valve automation for precise control, and an emphasis on safety and reliability through fail-safe mechanisms and compliance with industry standards. These are the trends and innovations in the market that are likely to contribute to the plunger valve market growth throughout the projection timeframe.

Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into manual plunger valve and electric plunger valve.

• By Application Analysis

Based on application, the market can be divided into petroleum, natural gas, and others.

Driving Factors

"Industrial Growth and Infrastructure Development Lift the Growth of the Market"

The market is mainly driven by the industrial growth and infrastructure development. Economic growth and industrial expansion create demand for valves in various sectors such as oil and gas, water treatment, power generation, chemical processing, and manufacturing. As well as infrastructure projects, including the construction of pipelines, power plants, and water treatment facilities that require valves for flow control, are attributed to propel the growth of the market. 

"Growing Need for Reliable Flow Control Solutions Inflate the Market Progress"

Increasing demand for reliable flow control solutions is another major driving factor to enhance the demand for the valve. As industries strive for operational efficiency and process optimization, the demand for reliable flow control solutions rises. Subsequently, valves play a crucial role in regulating and controlling the flow of fluids, gases, and slurries, ensuring smooth operations and process efficiency.

Restraining Factors

"Global Economic Recession Can Curb the Market Enlargement"

The expansion of the market can be confined by some restraining factors such as economic downturns. During periods of economic recession or slowdown, industries may reduce capital expenditure, delay projects, or cut back on infrastructure investments. Thus, this can lead to a decrease in demand for valves and impact market growth.

Regional Insights

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"Asia-Pacific Leads the Market due to Rapid Industrialization and Infrastructure Development"

As per market research, The Asia-Pacific region, including emerging nations such as China, India, Japan, and South Korea, has been witnessing rapid industrialization and infrastructure development. The region's growing population, expanding urbanization, and increasing investments in sectors such as oil and gas, power generation, water treatment, and manufacturing contribute to the demand for valves. Besides, the region holds significant plunger valve market shares which contributes to leading the global marketplace. 

Key Industry Players

With regard to key players, prominent companies in the valve market stimulate market revenue through their tactics. They invest in research and development to introduce innovative valve products, expanding their product portfolios and attracting customers. Also, strategic partnerships and acquisitions enable them to enter new markets and offer a broader range of solutions. The geographic expansion helps them access new customers and increase market share. They prioritize customer satisfaction by providing customized solutions and after-sales services. Along with this, marketing efforts enhance brand visibility and generate leads.

List of Market Players Profiled

• ZGKK
• DATIAN
• SOJOV
• ZHEJIANG XINRONGDA VALVE
• SHANGHAI JIANFA VALVE
• YUTE VALVE
• SHANGHAI QIZHONG VALVE MANUFACTURING
• Shanghai ZhenggangValve Manufacturing
• WANYU VALVE
• XG
• SHANG HAI WEITON VALVE

Report Coverage

This report defines the plunger valve market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.