Valves and Pumps

• The worldwide hygienic pumps and valves market was worth USD 2.2 billion in 2021 and is predicted to be worth USD 2.8 billion by 2026, growing at a CAGR of 4.5 percent.
• The number of industrial firms using a shared manufacturing method has increased over the last decade and is expected to reach millions by 2025, providing fuel for the expanding pumps and valve sector.
• Agriculture/irrigation, building services, water, wastewater/sewage management, and industrial usage are the primary industries in which pumps and valves are employed.
• Factors contributing to its substantial development include rising urbanization, expanding dairy and pharmaceutical sectors, and rapid industrialization in key nations like as China, India, and Japan.
• Due to the amount of new oil exploration projects in this area, the Middle East and Africa are expected to dominate the Pumps & Valve market.