Forged Steel Globe Valves Market Size, CAGR, Trends 2024-2030

Market Overview and Report Coverage

Forged Steel Globe Valves are industrial valves designed to regulate flow within a pipeline by controlling the opening and closing of the valve disc. These valves are widely used in applications where high pressure and temperature conditions exist, making them suitable for industries such as oil and gas, power generation, and chemical processing.

The current outlook for the Forged Steel Globe Valves market is positive, with a projected growth rate of % during the forecast period. This growth can be attributed to the increasing demand for energy and infrastructure development projects worldwide. Additionally, the market is expected to benefit from advancements in technology, leading to the development of more efficient and durable valves.

The market forecast for Forged Steel Globe Valves also indicates a rising trend towards automation and remote monitoring capabilities, allowing for better control and maintenance of the valves. Manufacturers are focusing on innovation and product development to meet the evolving needs of their customers, further driving market growth.

Overall, the Forged Steel Globe Valves market is poised for steady growth in the coming years, supported by increasing industrialization and infrastructure investments globally.

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Market Segmentation

The Forged Steel Globe Valves Market Analysis by types is segmented into:

• Bolted Bonnet
• Welded Bonnet
• Pressure Seal Bonnet

Forged steel globe valves are available in three main types: bolted bonnet, welded bonnet, and pressure seal bonnet. Bolted bonnet globe valves have a separate bonnet that is bolted onto the valve body, making maintenance and repair easier. Welded bonnet globe valves have the bonnet welded directly to the valve body, providing a more compact design. Pressure seal bonnet globe valves are designed for high-pressure applications, with a seal that becomes tighter as the pressure increases, ensuring reliability in demanding conditions.

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The Forged Steel Globe Valves Market Industry Research by Application is segmented into:

• Oil and Gas Industries
• Power Industry
• Commercial
• Others

Forged steel globe valves are widely used in the oil and gas industries, power industry, commercial sectors, and other applications due to their durability and reliability in high-pressure and high-temperature environments. In the oil and gas sector, these valves are essential for controlling the flow of liquid or gas in pipelines. In the power industry, they are used to regulate the flow of steam or water in power plants. In commercial settings, forged steel globe valves are commonly used in HVAC systems and water treatment plants.

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In terms of Region, the Forged Steel Globe Valves Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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What are the Emerging Trends in the Global Forged Steel Globe Valves market?

The global forged steel globe valves market is witnessing several emerging trends, including the increasing demand for advanced materials, such as stainless steel and carbon steel, to enhance the performance and durability of valves. Additionally, the rising emphasis on energy efficiency and environmental sustainability is driving the development of innovative valve designs that reduce emissions and improve operational efficiency. Furthermore, market players are focusing on product customization and technological advancements to meet the specific requirements of different industries. However, challenges such as intense competition and fluctuating raw material prices are impacting the market growth. Overall, the market is expected to continue expanding due to growing industrial activities and infrastructure development worldwide.

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Major Market Players

Velan is a global leader in the Forged Steel Globe Valves market, with a strong presence in various industries such as oil and gas, power generation, and chemical processing. The company has a wide product portfolio and focuses on continuous innovation to meet the evolving needs of its customers. Velan's market growth has been steady, with a focus on expanding its global footprint and acquiring new customers in emerging markets.

Tecofi is another key player in the Forged Steel Globe Valves market, known for its high-quality products and exceptional customer service. The company has seen significant growth in recent years, driven by a strong focus on product development and customer satisfaction. Tecofi has a diverse customer base across industries and geographies, which has helped to fuel its growth and market share.

Haitima is a well-established player in the Forged Steel Globe Valves market, with a reputation for reliability and durability. The company has experienced steady growth over the years, thanks to its commitment to product quality and customer service. Haitima's market size is significant, with a strong presence in key markets such as Asia, Europe, and North America.

In terms of sales revenue, Velan reported annual sales of over $500 million in 2020, making it one of the top players in the Forged Steel Globe Valves market. Tecofi and Haitima also reported healthy sales figures, demonstrating the strong demand for their products in the market. Overall, these companies are well-positioned for future growth, with a focus on innovation, customer service, and market expansion.

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