Indian valve industry urged to tap future opportunities

The future holds immense opportunities for the valve industry in areas like liquefied natural gas (LNG), carbon capture and storage (CCS) and the burgeoning green hydrogen market, said S. Kalyanaraman, Chief Executive Officer and Director of L&T Valves.

“Each segment presents unique challenges and demands specialised valve solutions. Embracing these new frontiers requires agility, continuous research and development, and a commitment to sustainable practices,” said Mr. Kalyanaraman, at the inauguration of the seventh edition of the Valve Technology Conclave, organised by the Confederation of Indian Industry (CII) and Indian Valve and Actuator Manufacturers Association (IVAMA).

Noting that the green hydrogen revolution presents exciting opportunities for the valve industry, he said valves for the fuel need to withstand high pressure, handle cryogenic temperature and ensure leak-proof operation due to its unique properties. It is estimated that the market for the fuel will reach $18.6 billion by 2030 and create significant demand for specialised valves, added Mr. Kalyanaraman, quoting a 2023 report by the Global Market Insights.

Nicolas Frank, Co-owner and Chairman of SchuF Group, said Coimbatore has one of the best environment for the valve industry, ranging from the pool of skilled people and technical institutions that produce young-talented workforce. He urged the industry to incorporate climate protection and ethical standards in the business by adopting renewable energy and by reducing the carbon footprint, which will be a huge challenge in the future.

Pranay S. Garg, Chairman of IVAMA and Managing Director of Advance Valves Pvt Ltd, said that the valve industry in India, comprising over 300 manufacturers, has the capacity to export more than the current rate of about 25 % of the total production and reach in the top three positions.

R. Ramesh Babu, Conclave Chairman and Managing Director of Velan Valves India Pvt Ltd, said India’s $ 2 billion valve industry has the potential to enhance its share in the global market of $ 80 billion.

K. Senthil Ganesh, Chairman of CII Coimbatore zone and CEO of Transform Tech Pvt Ltd, and G. Radhakrishnan, Vice-Chairman of CII Coimbatore and Managing Director of Sieger Spintech Equipments Pvt Ltd, also spoke.

The conclave held under the theme ‘Challenging and Exciting Future for Valve Industry – Riding the Millennial Wave’, had sessions on artificial intelligence for valve and actuator industry and advancements in 3D modelling and drafting among others.

Tags: CII, LNG, Valves, Velan Valves India Pvt Ltd