Control Valve Market Size, Revenue Growth Trends, Company Strategy Analysis, 2030
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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“Control Valve” Market?
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