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Summary of our market study
The size of the French market is estimated at between 1.6 and 1.7 billion euros.
The global market for industrial valves has been valued at between $85 and $87 billion, and is expected to expand at a compound annual growth rate of around 3.5% between 2020 and 2027.
This growth is underpinned by the expansion of the oil and gas industry in North America, and by the booming food sector in the emerging economies of Asia-Pacific and Latin America. The global market for industrial valves declined by 3.5% in 2020 due to the COVID-19 pandemic.
Technological innovation, particularly in automation and control technologies, is an important growth driver.
In France, the industrial valves market has seen a steady decline, whereas for many years it recorded sales growth thanks to the dynamism of the nuclear, agrifood and wastewater treatment markets.
The French trade balance in this sector is in slight surplus.
The French industrial valves market is undergoing radical change
The industrial valves market in France is under pressure from foreign competition, price pressures exerted by major customers and the investment dynamic in the main customer industries.
The size of the French market is estimated at between 1.6 and 1.7 billion euros. The market declined by almost 10% in four years, before rebounding with an increase of 7.2%.
French valve production falls under code 28.14Z and is mainly dominated by giants such as Saint Gobain, Emerson and KSB, with a large proportion of sales generated by the food industry, energy sectors such as nuclear, oil and gas, and water treatment operations.
The evolution of the sector is also reflected in the distribution landscape, with the main players engaging in direct sales and relying on intermediaries such as wholesalers and traders for product distribution.
The Auvergne-Rhône Alpes and Hauts-de-France regions are home to 20% and 18% of industrial valves establishments respectively.
Key players
- Saint-Gobain is a French multinational with a strong presence in the industrial valves market through its subsidiary Saint-Gobain PAM.
- Emerson is recognized for its solid portfolio of industrial valves.
- KSB is a German heavyweight in the field of industrial pumps and valves.
- Parker Hannifin specializes in motion and control technologies.
- Schlumberger, world-renowned for its expertise in the oil & gas and industrial valve industries through its subsidiary Cameron France
- Pacific Industrial, a Japanese conglomerate active in the industrial valves market
- Canadian company Velan, represented by its subsidiaries Segault and Velan, stands out for its commitment to manufacturing a varied range of valve products.
- Trouvay Cauvin, distributor specializing in oil and gas products
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Summary and extracts
1 Market overview
1.1 Industrial valves market overview
Industrial valves and fittings cover all items used in industrial fluid transport systems, and therefore encompass several types of product, the main ones being taps and valves, but also valves, flaps and complementary equipment such as operating devices.
Industrial valves are a segment of the valve industry that also includes sanitary and heating valves, which are excluded from the scope of this study.
French production of valves, which therefore includes all three types, is recorded under code 28.14Z: Manufacture of other valves and fittings. Some of the data presented in the study will be taken from this code, in the event of insufficient data on industrial valves alone, whose production generates around 45% of sales in the valves sector.
Moreover, the production of industrial valves has become highly concentrated in recent years, so that it is now dominated by a small number of players, the main ones in France being Saint Gobain, Emerson and KSB. Some manufacturers sell their products directly, while others use intermediaries (wholesalers, traders, import-export companies, distributors) to sell their products. The sector's main outlets are industry (food, chemicals, etc.), energy (nuclear, oil, gas) and the water sector.
In France, after a long decline that ended in 2021, the industrial valves market is growing, and is now estimated to be worth €1.289 billion in 2023, although this growth seems to be slowing down. This rebound is due to the dynamism of the manufacturing industry, the nuclear market, wastewater treatment and their investments, which have stimulated growth in industrial valve sales. The French market is also dominated by players dependent on foreign groups, notably American (e.g. Emerson, Parker Hannifin, Schlumberger), with the exception of Saint-Gobain, which dominates through its subsidiary Saint-Gobain PAM.
The global valves market was worth US$61.5 billion in 2022 , and is expected to grow at a CAGR (combined annual growth rate) of 4.2% to 2031. The market is driven by dynamic customer markets, notably the oil and gas industry in North America and the agri-food sector in developing countries such as those in Asia Pacific and Latin America.
However, in many Western countries, such as Germany, the United States and the United Kingdom, the industrial infrastructure is highly developed, which limits demand for industrial valves. The main growth driver worldwide is innovation, particularly in automation and control technologies. On the other hand, the stagnation or even decline in industrial real estate has a negative impact on the surface area available for the installation of industrial valves.
On the supply side, market prices have rocketed over the past two years, due in particular to the sharp rise in raw material costs, led by copper and steel, used in the manufacture of brass and stainless steel valves. Despite this, the concentration of players favours the funding of research in the sector, and constant innovation in this field ensures that demand is maintained and the market continues to grow.
1.2 A fast-growing global market
The global valves market (***) of *.*% to reach US$**.* billion in ****.
Trends in the size of the global market for the manufacture of plumbing fittings, valves and pipes World, ****, in $ billions Source: ****
North American countries such as the USA and Canada are the main importers of industrial valves from Asian and European ...
1.3 The French market: an interrupted decline in 2019
In ****, the tax-free turnover of the entire valve manufacturing industry (***) amounted to EUR *,*** billion In addition, INSEE provides turnover indices for the sector for the years **** and ****, which makes it possible to estimate the sector's turnover for these years by the following calculation
Turnover index for year n * x Turnover for ...
1.4 International trade
The figures in this section are obtained from UN Comtrade data, using HS code **** "Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, including pressure-reducing valves and thermostatically controlled valves".valves and similar appliances for pipes, boiler shells, tanks, vats or the like, including pressure-reducing ...
1.5 The Covid-19 effect
The effects of the Covid-** epidemic on the industrial valves market have been significant, as the graphs below illustrate. The market has indeed fallen in both volume and value, peaking in April, with the market losing more than a quarter of its value between November **** and March ****.
Sales index for the ...
2 Demand analysis
2.1 The water supply chain: catchment and distribution unfavorable, wastewater treatment favorable
The water collection, treatment and distribution market
The water collection, treatment and distribution market is a major outlet for the manufacture of industrial valves. Falling water consumption in France is fuelling the decline in production in the water catchment, treatment and distribution sector, which is therefore penalizing the industrial valves ...
2.2 Energy: an unfavorable oil and gas industry, but a dynamic nuclear sector
An unfavorable oil and gas industry
The specific characteristics of oil industry fluids explain the highly technical nature of the products designed for this industry, and the stringent standards that surround them. Oil and gas-related activities require the use of industrial valves at various stages, including : oil production: valves must be ...
2.3 Manufacturing industry on the rebound
The manufacturing industry is also one of the main outlets for industrial valves, in particular the food, chemical and pharmaceutical industries, but also the refrigeration, mining and paper industries, among others. Investment by the sector, particularly in fluid management systems and networks, is a key factor in demand for industrial ...
2.4 A market limited by the decline in new industrial real estate
Demand for valves is under downward pressure. In fact, the construction and real estate markets are themselves trending downwards, which is having an impact on demand for faucets.
Industrial floor space under construction (***) France, ****-****, in millions of m² Source: ****
Industrial floor space under construction (***) France, **** - ****, in thousands of m² Source: ...
2.5 A market driven by the renovation/repair of mechanical equipment/industrial valves and fittings
The market for the repair of industrial valves and fittings is included in naf code **.**.** "Repair and maintenance of hydraulic and pneumatic equipment, other pumps, compressors and valves and fittings". However, this category does not benefit from its own statistics. Instead, code **.**Z "Repair of machinery and mechanical equipment" is considered, ...
3 Market structure
3.1 Value chain and key players
The value chain of the industrial valves industry is illustrated below. Manufacturers either sell their products directly through their subsidiaries, branches or sales offices, or use intermediaries such as traders, wholesalers, import-export companies or distributors to take care of marketing.
⇓
The ranking below highlights the main players operating in France. ...
3.2 The production of industrial valves
Industrial valves and fittings are manufactured from raw materials, often metallic, such as brass, carbon steel, steel alloys, stainless steel, duplex and nickel-based alloys. The manufacturing process comprises several stages, the most important of which are: casting, which involves melting the raw material, die-forging, which gives the product its shape, and ...
3.3 Industrial valves distribution
The distribution of industrial valves can be handled by two types of players:
manufacturers, who market their products directly through subsidiaries, branches or sales offices intermediaries, i.e. trading, import-export or distribution companies, which sell products purchased from manufacturers.
The main intermediaries on the French market are shown in the chart ...
3.4 Geographical breakdown of sales
Over the years, some regions have seen the number of faucet companies multiply to such an extent that they now stand out in this field.
For example, Auvergne-Rhône Alpes accounts for **.*% of establishments, Hauts-de-France **%, Ile-de-France **.*%, Grand-Est **.*% and Nouvelle-Aquitaine *.*%. Between them, these * regions account for three quarters of all faucet manufacturers. ...
4 Offer analysis
4.1 Product types
Industrial valves can be classified into several families, based on their common characteristics.
There are * main product families:
Shut-off and control: items enabling or suspending the flow of a fluid at will Regulation: items enabling the flow rate or pressure drop of a fluid passing through a valve to be adapted ...
4.2 Rising prices due to soaring raw material costs
The price index for faucet production in France shows relative stability until ****, followed by a sharp rise from ****, reaching ***.** in ****. This increase is caused by growing pressure on production costs, attributable to a combination of factors such as rising raw material costs and increased demand for faucet products. This presents manufacturers ...
4.3 Innovation: a major challenge for our offering
To stand out from the crowd, players rely on innovation, which is particularly valued in a sector where technicality and process efficiency are paramount. Players invest in Research and Development to improve their existing offering or propose new products.
What's more, offering top-of-the-range products can lead to profitable price increases, hence ...
5 Regulations
5.1 Current regulations
The regulations governing the sector are provided by Profluid:
The Pressure Equipment Directive (***), which governs product marking Machinery Directive (***) ATEX Directive (***) for potentially explosive atmospheres
Industrial valve components must comply with French (***) standards, as detailed on p.** of the Profluid guide.
Cosmac also supplies a document containing all the industrial valve ...
6 Positioning the players
6.1. Segmentation
- KSB
- Emerson Electric
- Saint-Gobain PAM
- Schrader (Sensata technologies)
- Cameron France (Schlumberger Groupe)
- Socla
- Picon Robinetterie Industrielle
- Rubix Europe
- Segault
- Roforge
- Atlantic Robinetterie
- BOM Robinetterie Industrielle
- Diro Atlantique
- FRI Vanne
- GMI Robinetterie
- La Robinetterie Industrielle Sodime
- Legris Industries Groupe
- Robinetterie Service
- Sapag Valves (IPI Groupe)
- Tecofi
- Vanneco
- Boutté Decolletage
- Delcorte Fittings
- Albert’s IPS
- Daher
List of charts presented in this market study
- Trends in the size of the global market for the manufacture of plumbing valves, fittings and pipes
- Marché de la fabrication de robinetterie
- Répartition de la production française d'articles de robinetterie, par type
- Brent oil price
- Worldwide investment in oil exploration and production
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Latest news
French nuclear giants show interest in Daher Valves - 03/07/2024
- Framatome and TechnicAtome acquire Daher subsidiary specializing in the manufacture of nuclear valves and fittings
- This equipment is critical for nuclear deterrent submarines and civil nuclear power plants.
- Daher Valves (renamed Vanatome) has around 120 employees and generates annual sales of 15 to 20 million euros.
- Framatome acquired 70% and TechnicAtome 30% of Vanatome.
- Vanatome and Segault together account for 50% of the supply of nuclear taps and valves for the defense sector.
- The Vanatome plant plans to increase production by 25% by 2027.
- The company's order book is equivalent to three years' production.
- In January, Framatome and Naval Group finalized the acquisition of Jeumont Electric, also with a view to consolidating the supply chain and enhancing sovereignty.
Rubix concentrates its forces in Chenôve - 29/05/2024
- Distribution of ball bearings, hand tools, abrasive products, supplier brands (80%), own labels (20%).
- Sales: 1 billion euros in France by 2022, 3 billion euros at European level.
- Total workforce in France: 2,800.
- Three main warehouses (Picardie, Île-de-France, Landerneau) and a fourth to be launched in Reims in 2023 for European flows.
Daher plans to set up a new aircraft plant in the United States - 07/02/2024
- The manufacturer's two plants, for the TBM in Tarbes and the Kodiak in SandPoint, are reaching the limits of their capacity.
- The 3rd plant, capable of assembling both models, should be built in Florida and come on stream by 2026-2027.
- Daher generates a third of its sales (1.6 billion euros in 2023, i.e. 300 million more than in 2022) in the United States, the second largest country for all its activities: aircraft, logistics, industry services and aeronautical equipment supply.
- It employs around 1,000 people there, after acquiring Quest Aircraft, the manufacturer of the Kodiak, in 2019, and a Stuart-based aerostructure parts production site in July 2022.
- Daher delivered 74 aircraft (56 TBMs and 18 Kodiaks) in 2023
Metallurgy: Delcorte gets ready to take advantage of the nuclear revival - 29/10/2023
- Delcorte is about to celebrate its 100th anniversary. Delcorte has just purchased a 2.4-hectare plot of land on which to build a new building dedicated to its nuclear activity, as well as two storage buildings.
- The investment in this project amounts to 10 million euros. Delcorte is a specialist in high-precision forged fittings used in the pipe industry.
- The company has a strong presence in the petrochemical sector, and its first customer is Aramco, the world leader in this sector.
- Delcorte currently employs 200 people.
- The company generates sales of 54 million euros, 90% of which comes from exports.
- Delcorte has created a specific nuclear division to meet the growing need for forged fittings for the new generation EPR.
Bruno Le Maire blocks the sale of Segault to American Flowserve - 06/10/2023
- Velan, a Canadian company, had planned to sell its French activities to the American Flowserve for $245 million.
- This transaction was blocked by the French Ministry of the Economy.
- Velan's French assets include Segault, which manufactures valves for French nuclear submarines, and Velan SAS, which also supplies valves for French nuclear reactors.
- The Segault part of Velan generates sales of less than 15 million euros.
- Velan SAS generates sales of around 70 million euros.
Faucets: Boutté targets European gardens - 25/08/2023
Boutté specializes in valves and bar turning. The company already works with industrial customers in Germany, Sweden and the USA. Its watering and plumbing products are mainly distributed by French retailers, including Leroy Merlin and Gamm Vert. The company mainly targets the high-end gardening market. The company has 140 employees. It aims to achieve sales of €40 million by 2028, compared with €30 million in 2022.
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