Industrial & Fluid Power Valve Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS OD5760Revenue
$26.3bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
64,649
Businesses
641
Wages
$X.Xbn
Industrial & Fluid Power Valve Manufacturing in the US industry analysis
The industrial and fluid power valve manufacturing industry is grappling with escalating import penetration, largely fueled by competitive pricing from countries like China and Mexico. This trend has led to decreased demand for domestically produced valves. The widening price differential between domestic and imported valves, coupled with the industry's struggle with flat industrial production, has put pressure on the industry’s performance and revenue streams. Overall, industry revenue is projected to decline at a CAGR of 1.4% through 2024, including a 1.8% decline in 2024 alone, to reach $26.3 billion.
Trends and Insights
- The growing prevalence of imported valves underscores a shift in market dynamics, signaling a need for domestic manufacturers to reevaluate their operational approaches in order to maintain relevance and competitiveness.
- Industrial valve manufacturers must stay updated on trends in the oil and gas, chemical processing, power generation and manufacturing sectors. This ensures their production aligns with the changing demands of these industries.
- The Gulf Coast region serves as a prominent hub for valve manufacturers, catering to the oil and gas industry due to the area's concentration of refineries, chemical plants, and offshore installations.
- The valve manufacturing industry typically has lower capital expenditures as a percentage of revenue than the broader fabricated metal manufacturing sector. This lower barrier to entry allows new players to enter the market and sustain their position more easily.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.4 % over the past five years, to reach an estimated $26.3bn in 2024.
Trends and Insights
Import penetration has increasingly challenged domestic manufacturers, contributing to reduced demand for locally manufactured valves
- Competitive pricing of imported valves driven by lower labor costs in exporting countries, primarily China and Mexico, has enabled them to offer products at more attractive price points than domestic counterparts, contributing to lower demand for domestically manufactured valves.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Input costs are projected to decline, exerting downward pressures on revenue growth
- The price of iron and steel is expected to decline in the first half of the outlook period, driven by global demand and supply factors. As the price of key inputs declines, valve manufacturers will face additional challenges in keeping prices high, thus exerting pressures on revenue growth early in the outlook period.
Biggest companies in the Industrial & Fluid Power Valve Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Parker-Hannifin Corporation | 2,688.1 | 494.6 | 18.4 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Gate, globe and check valves, Ball, butterfly and plug valves and Electronic and solenoid-operated valves. Gate, globe and check valves is the largest segment of the Industrial & Fluid Power Valve Manufacturing in the US.
Trends and Insights
Gate, globe, and check valve manufacturers are upgrading products with advanced materials and smart technologies
- Gate, globe, and check valves are traditional types of valves used for controlling the flow of fluids in pipelines. Gate valves regulate flow by raising or lowering a gate, globe valves control flow with a movable plug, and check valves prevent backflow.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Valve Manufacturing in the US
Complementors
- Plastic Pipe & Parts Manufacturing in the US
- Ferrous Metal Foundry Products in the US
- Pump & Compressor Manufacturing in the US
International industries
- Valve Manufacturing in Canada
- Tap & Valve Manufacturing in the UK
- Tap & Valve Manufacturing in Germany
Table of Contents
About this industry
Industry definition
This industry manufactures industrial and fluid power (hydraulic and pneumatic) valves, other flow control devices and related parts, including assemblies, couplings and fittings. Valves are integral to a broad range of industrial and general applications, including manufacturing, waterworks and energy. Residential plumbing fixtures, trim and general-purpose valves and fittings are not included in this industry (see IBISWorld’s Valve Manufacturing industry report 33291).
What's included in this industry?
Manufacturing industrial valves and related partsManufacturing fluid power valves and related partsCompanies
Parker-Hannifin CorporationPurchase this report to view all 1 major companies in this industry.
Related Terms
BALL VALVEBUTTERFLY VALVESOLENOID VALVEPREDICTIVE DIAGNOSTICSSHUT-OFF VALVEPNEUMATIC VALVEHYDRAULIC VALVEIndustry Code
NAICS 33291 - Industrial & Fluid Power Valve Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The growing prevalence of imported valves underscores a shift in market dynamics, signaling a need for domestic manufacturers to reevaluate their operational approaches in ord...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Industrial valve manufacturers must stay updated on trends in the oil and gas, chemical processing, power generation and manufacturing sectors. This ensures their production ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Gulf Coast region serves as a prominent hub for valve manufacturers, catering to the oil and gas industry due to the area's concentration of refineries, chemical plants, a...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The valve manufacturing industry typically has lower capital expenditures as a percentage of revenue than the broader fabricated metal manufacturing sector. This lower barrie...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Parker Hannifin introduced Hi-Pro Series ball valves in November 2023, designed to improve operational efficiency and reliability for hydrogen applications.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Parker-Hannifin Corporation's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Parker-Hannifin Corporation, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The stability of economic growth in foreign markets is crucial, given that exports account for more than one-third of the valve manufacturing industry's total revenue.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
While dramatic rises in the price of steel have enabled valve manufacturers to achieve greater revenue growth, it has come at the cost of larger expenses and less profit in ce...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Industrial & Fluid Power Valve Manufacturing in the US industry in United States in 2024?
The market size of the Industrial & Fluid Power Valve Manufacturing in the US industry in United States is $26.3bn in 2024.
How many businesses are there in the Industrial & Fluid Power Valve Manufacturing in the US industry in 2024?
There are 641 businesses in the Industrial & Fluid Power Valve Manufacturing in the US industry in United States, which has declined at a CAGR of 1.3 % between 2019 and 2024.
Has the Industrial & Fluid Power Valve Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Industrial & Fluid Power Valve Manufacturing in the US industry in United States has been declining at a CAGR of 1.4 % between 2019 and 2024.
What is the forecast growth of the Industrial & Fluid Power Valve Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Industrial & Fluid Power Valve Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Industrial & Fluid Power Valve Manufacturing in the US market in United States?
The biggest company operating in the Industrial & Fluid Power Valve Manufacturing market in United States is Parker-Hannifin Corporation
What does the Industrial & Fluid Power Valve Manufacturing in the US in United States include?
Manufacturing industrial valves and related parts and Manufacturing fluid power valves and related parts are part of the Industrial & Fluid Power Valve Manufacturing in the US industry.
Which companies have the highest market share in the Industrial & Fluid Power Valve Manufacturing in the US in United States?
The company holding the most market share in United States is Parker-Hannifin Corporation.
How competitive is the Industrial & Fluid Power Valve Manufacturing in the US industry in United States?
The level of competition is high and steady in the Industrial & Fluid Power Valve Manufacturing in the US industry in United States.
