South Korea Industrial Valves Market Introduction and Overview
According to SPER Market Research, the South Korea Industrial Valves Market is estimated to reach USD 7503.04 million by 2033 with a CAGR of 10.83%.
The report includes an in-depth analysis of the South Korea Industrial Valves Market, including market size and trends, product mix, applications, and supplier analysis. Industrial valves are essential for managing the flow and pressure of liquids, gases, and slurries in a variety of industries. Gate, globe, ball, butterfly, and check valves are important varieties. Technological developments have produced smart valves, which increase security and efficiency. They are nevertheless necessary for contemporary procedures even in the face of obstacles like high costs and complicated upkeep.
- Atlas Copco announced the acquisition of Presys Co., Ltd. in October 2023. The company produces vacuum valves for the semiconductor industry. Presys Co., Ltd. is a privately owned firm with 134 workers based in Suwon, Republic of Korea. The company's revenues in 2022 were roughly MKRW 35,000 (MSEK 275*). The company manufactures transfer and isolation vacuum valves, which are well suited to the current semiconductor product offering.
- In July 2023, KITZ Corporation announced the introduction of PFA-Lined Weir Type Diaphragm Valves. The PFA-lined valve series for piping systems that require chemical and corrosion resistance has expanded to include diaphragm valves. The PFA-lined valve series includes butterfly valves, ball valves, plug valves and check valves. As the market for high-value-added fine chemicals expands, KITZ will be able to meet the needs of customers working with a wide range of chemicals, including medicines, pigments, paints, fats and oils, and surfactants.
Market Opportunities and Challenges
Opportunities- The strong energy and manufacturing sectors of the country are fuelling demand for valves across a range of applications. The strategic location and robust export-oriented economy of South Korea further add to the rising demand for industrial valves worldwide. The increasing focus on environmentally friendly and energy-efficient valve systems creates opportunities in the market. The integration of Industrial Internet of Things (IIoT) applications and the deployment of smart valve technology offer opportunities for improved operational efficiency and creativity. Moreover, the growing emphasis on digitalised control systems presents chances for industry participants to provide cutting-edge solutions.
Challenges- There are still issues, such as fierce pricing competition and market volatility. Risks stem from the market's susceptibility to changes in the economy and geopolitical issues. Additionally, manufacturers face difficulties in adhering to changing international norms and laws. Another aspect is that businesses want to stay profitable while still being competitive, so they must strike a balance between the need for innovation and cost concerns. Industry participants must make investments in R&D, form strategic alliances, and continuously adapt to new technologies in order to meet these difficulties.
Market Competitive Landscape
South Korea's Industrial Valves market is highly fragmented and competitive. Key players Include Daejin Kogyo Co Ltd, LG Valve, Wooyoung Engineering Co Ltd, Hansung Valve Co Ltd, Shinheung Precision Co Ltd, Hana Metal Industrial Co Ltd, LS Metal Co Ltd, HAESEUNG, HITECH Co Ltd, MIRAE Industry Co. Ltd, Pusan Valve Ind. Co Ltd.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Material, By Component
|
| Regions covered | Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region)
|
| Companies Covered | Daejin Kogyo Co Ltd, LG Valve, Wooyoung Engineering Co Ltd, Hansung Valve Co Ltd, Shinheung Precision Co Ltd, Hana Metal Industrial Co Ltd, LS Metal Co Ltd, HAESEUNG, HITECH Co Ltd, MIRAE Industry Co. Ltd, Pusan Valve Ind. Co Ltd.
|
COVID-19 Impact on South Korea Industrial Valves Market
The market for industrial valves has been significantly impacted by the Covid-19 epidemic. The outbreak caused manufacturing facilities to temporarily close, worldwide supply chains to become disrupted, and industrial activity to decrease. Consequently, during the early stages of the pandemic, there was a halt in the demand for industrial valves. The market for industrial valves did, however, start to rebound as economies and businesses started to operate again. The need for valves in these industries was driven by the continued need for basic services including water treatment, pharmaceutical production, and power generation. Furthermore, heightened investments in contactless, hygienic, and clean valve technology resulted from industry attention on health and safety protocols.
Key Target Audience:
- Oil & Gas Companies
- Chemical and Petrochemical Companies
- Water and Wastewater Treatment Facilities
- Power Generation Plants
- Manufacturing Industries
- HVAC (Heating, Ventilation, and Air Conditioning) Systems
- Pharmaceutical and Biotech Companies
- Mining Industry
Our in-depth analysis of the South Korea Industrial Valves Market includes the following segments:
|
By Type:
|
Ball
Butterfly
Globe
Gate
Diaphragm
Safety
Check
Plug
|
|
By Material:
|
Steel
Cast Iron
Alloy Based
Cryogenic
Plastic
Bronze
Brass
|
|
By Component:
|
Actuator
Positioner
|
Key Topics Covered in the Report:
- South Korea Industrial Valves Market Size (FY’2024-FY’2033)
- Overview of South Korea Industrial Valves Market
- Segmentation of South Korea Industrial Valves Market By Type (Ball, Butterfly, Globe, Gate, Diaphragm, Safety, Check, Plug)
- Segmentation of South Korea Industrial Valves Market By Material (Steel, Cast Iron, Alloy Based, Cryogenic, Plastic, Bronze, Brass)
- Segmentation of South Korea Industrial Valves Market By Component (Actuator, Positioner)
- Statistical Snap of South Korea Industrial Valves Market
- Expansion Analysis of South Korea Industrial Valves Market
- Problems and Obstacles in South Korea Industrial Valves Market
- Competitive Landscape in the South Korea Industrial Valves Market
- Impact of COVID-19 and Demonetization on South Korea Industrial Valves Market
- Details on Current Investment in South Korea Industrial Valves Market
- Competitive Analysis of South Korea Industrial Valves Market
- Prominent Players in the South Korea Industrial Valves Market
- SWOT Analysis of South Korea Industrial Valves Market
- South Korea Industrial Valves Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Industrial Valves Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Industrial Valves Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Industrial Valves Market
7. South Korea Industrial Valves Market, By Type (USD Million) 2020-2033
7.1. South Korea Industrial Valves Market Size, Share and Forecast, By Type, 2020-2026
7.2. South Korea Industrial Valves Market Size, Share and Forecast, By Type, 2027-2033
7.3. Ball
7.4. Butterfly
7.5. Globe
7.6. Gate
7.7. Diaphragm
7.8. Safety
7.9. Check
7.10. Plug
8. South Korea Industrial Valves Market, By Material (USD Million) 2020-2033
8.1. South Korea Industrial Valves Market Size, Share and Forecast, By Material, 2020-2026
8.2. South Korea Industrial Valves Market Size, Share and Forecast, By Material, 2027-2033
8.3. Steel
8.4. Cast Iron
8.5. Alloy Based
8.6. Cryogenic
8.7. Plastic
8.8. Bronze
8.9. Brass
9. South Korea Industrial Valves Market, By Component (USD Million) 2020-2033
9.1. South Korea Industrial Valves Market Size, Share and Forecast, By Component, 2020-2026
9.2. South Korea Industrial Valves Market Size, Share and Forecast, By Component, 2027-2033
9.3. Actuator
9.4. Positioner
10. South Korea Industrial Valves Market Forecast, 2020-2033 (USD Million)
10.1. South Korea Industrial Valves Market Size and Market Share
11. South Korea Industrial Valves Market, By Region, 2020-2033 (USD Million)
11.1. South Korea Industrial Valves Market Size and Market Share By Region (2020-2026)
11.2. South Korea Industrial Valves Market Size and Market Share By Region (2027-2033)
11.2.1. Seoul Capital Area
11.2.2. Yeongnam (Southeastern Region)
11.2.3. Honam (Southwestern Region)
11.2.4. Hoseo (Central Region)
11.2.5. Others
12. Company Profile
12.1. Daejin Kogyo Co. Ltd
12.1.1. Financial outlook
12.1.2. Product summary
12.1.3. Recent developments
12.2. LG Valves
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Wooyoung Engineering Co. Ltd
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Hansung Valve Co. Ltd
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Shinheung Precision Co. Ltd
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Hana Metal Industrial Co. Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. LS Metal Co. Ltd
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. HAESEUNG HITECH Co. Ltd
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. MIRAE Industry Co. Ltd
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Pusan Valve Ind. Co. Ltd
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
