Latest News- Valves In Mining Market: Multi-turn valves is expected to lead the Type segment during 2025-2029

The Valves In Mining Market is being driven by Growth in smart mining industry

The Valves In Mining Market is expected to grow at a CAGR of 4.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1561.7 million. The escalating global need for rare metals and minerals, including cobalt, nickel, and rare earth elements, which are essential for high-tech applications such as batteries for electric vehicles, has fueled a significant interest in deep-sea mining. Deep-sea environments are believed to harbor substantial untapped mineral resources, particularly in areas with polymetallic nodules, polymetallic sulfides, and cobalt-rich ferromanganese crusts. With diminishing mineral-rich mines on land, the ocean is increasingly being considered as the next frontier for mining minerals. While petroleum and natural gas have been extracted for decades, the future may hold the potential for mineral mining in these depths. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Multi-turn valves
  • Quarter turn valves
  • Control valves
• Application
  • Mineral fuels
  • Iron and ferro-alloys
  • Non-ferrous metals
  • Precious metals
  • Industrial minerals
• Valve Type
  • Ball Valves
  • Gate Valves
  • Butterfly Valves
• End-User
  • Metal Mining
  • Mineral Mining
  • Coal Mining
• Geography
  • APAC
    • China
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in smart mining industry
• Technological advancements in valve materials
• Growing demand for cobalt owing to increasing adoption of electric vehicles

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material pricing of valves
• Harsh operating conditions of mining
• Counterfeit valve products

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Market Scope in Valves In Mining Market Research Report

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Research Analysis Overview

In the mining industry, maintaining the reliability of valves is crucial for process efficiency and safety. Valve failures, such as process valve malfunctions, can lead to costly downtime and production losses. To enhance valve performance, metrics like flow rate measurement and pressure drop calculations are essential for system optimization and life extension. Predictive maintenance, leakage detection technology, and corrosion prevention valves help minimize failures. Valve control strategies, material selection, and sizing software are important for design and repair. Hydraulic and pneumatic valve testing, remote operation, automated scheduling, and safety standards ensure optimal performance and reduce replacement costs. Energy efficiency and environmental impact are also considerations in valve selection and operation.

Market Research Overview

In the mining industry, valves play a crucial role in regulating pressure and controlling pipeline flow for various applications, including slurry handling and submersible pump operations. The global market for valves in mining is a significant segment of the larger industrial machinery and supplies and components market. This market is driven by the expanding industrial output in process and discrete industries, particularly in developing countries. The demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages continues to surge, leading to capacity additions and increased demand for reliable valve solutions. Technavio's market analysis identifies key growth drivers, including the rising demand for efficient pipeline flow control and the growing adoption of pneumatic valve actuators for improved automation and operational efficiency. The global industrial machinery and supplies and components market, which encompasses manufacturers of machinery and components used in industrial settings, is expected to grow significantly due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/