Control Valve Market Overview
Control Valve Market share is expected to reach 5,987.50 Million USD by 2030, with a CAGR of 6.7% during the forecast period 2022-2030.
Control valves are used in process industries for monitoring the process variables like flow, temperature, pressure, and fluid level. These valves are used in various process industries like mining, chemicals, oil gas, power generation, pharmaceuticals, water management, automotive, and food beverages. These valves enhance these industries' efficiency, safety, and profitability. In the process control loop, the control valves are the major part because they are critical to the overall performance of the process when the primary goals are reliability and productivity.
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The increasing need for automation in the process industry, rising investments in the oil gas industry, and pharmaceutical infrastructure are the factors boosting the growth of the control valves. Apart, due from the rapidly rising number of solar thermal energy plants, the thrust on the renewable energy projects is escalating the application areas of control valves. In addition to that, the United States expands the power infrastructure and the availability of natural gas leads to construct the several new combined cycle gas turbine (CCGT) plants.
The control valves market opportunities are investing in hydrocarbons by the emerging countries like India and China are expected to boost the market growth.
The key competitors of the control valves are Schlumberger Limited, Neles Corporation, Samson, Burkert Fluid Control Systems, Emerson Electric Co, Velan Inc, Curtiss-Wright Corporation, and others.
Market Segmentation
By the latest research, the global control valve market is categorized into four segments such as valve type, valve size, component, and end-use.
Valve Type Segmentation: The control valve types are gate, globe, diaphragm, ball, butterfly, check, and others.
Valve Size Segmentation: The control valve sizes are classified into four types like below 1”, 1” to 6”, 25” to 50”, and above 50”.
Component Segmentation: By component, the control valves market is trifurcated into the valve body, actuator, and others.
End-use Industry Segmentation: The control valve's end-use industries are classified into various segments such as energy power, chemicals, oil gas, water wastewater treatment, food beverage, and others.
Regional Analysis
According to the control valve market share and other aspects, the regional market is analyzed into four major regions like Asia-Pacific, North America, Europe, and the Rest of the World. Among them, the Asia-Pacific region is dominating the largest market share due to the greater investments in energy and power. The faster economic growth in India and China leads to the rise in the construction industry. Hence these emerging nations are investing a high amount in control valve technology to get updated in their pharma, food beverage, energy power industries. Meanwhile, other industries are strong in investment and growth. North America is the second strongest region in the market due to the high need for control valves in major industries. Rising demand for safety products like sanitizers and prescription medicines.
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Industry News
Based on the recent updates, the control valves market forecast states that the valves industry is expected to reach immense growth due to the introduction of technological innovations by key players and high investments, rising usage of control valves in various process industries. JV Sensia has recently created by Rockwell and Schlumberger that provides integrated digital solutions for manufacturing and processing crude oil.
Key Players
- Neles Corporation
- Burkert Fluid Control Systems
- Schlumberger Limited
- Samson
- Velan Inc
- First Reserve
- General Electric
- Curtiss-Wright Corporation
- Eaton
- Crane Co.
- Alfa Laval
- IMI Plc
- Flowserve Corporation
- Emerson Electric Co
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