The global control valves market is anticipated to expand at a growth rate of 6.8% CAGR in between the year 2021 to the year 2027. The global control valves market size worth of around US$6.20 bn in the year 2020 and is expected to be worth at around US$ 10.78 bn by the year 2027.
Control valves are used to regulate process variables, such as flow, temperature, pressure, and fluid level in process industries including oil & gas, water management, chemicals, power generation, automotive, mining, pharmaceuticals, and food & beverages. Control valves play an important role in increasing efficiency, safety, and profitability of these process industries. Furthermore, manufacturers of control valves are constantly engaged in research and development activities to design their products in accordance with changing requirements in various industries.
Rise in need for automation in the process industry is expected to garner growth for the control valve market. Moreover, increase in investments in the oil & gas industry and pharmaceutical infrastructure is projected to boost growth of the control valve market. For instance, India invested $118 billion for oil & gas exploration and is setting up natural gas infrastructure to meet needs of oil & gas. In addition, demand for control valves in the food & beverages industry is expected to drive growth of the control valve market. For instance, according to the India Brand Equity Foundation (IBEF), the food & beverages processing industry has emerged as a high-profit and high-growth sector, owing to its immense growth potential. Similarly, on the basis of data published by the USDA Foreign Agriculture Service, in February 2019, Brazil’s food processing industry was worth $179 billion during 2018.
Moreover, rise in number of industrial infrastructure projects in developing countries such as India and Japan are expected to supplement growth of the control valve market. For instance, in September 2020, the Spain government offered $226.2 million for renewable energy projects. However, competition from domestic manufacturers is anticipated to hamper growth of the control valve market. On the other hand, emerging countries such as India and China are focused on investing in hydrocarbons, which is projected to provide lucrative opportunities for market players in the control valve market.
On the basis of type, the market is divided into linear and rotary. The linear segment is projected to have the highest revenue during the forecast period.
By operation, the market is divided into pneumatic control valve, hydraulic control valve, and electrical control valve. The pneumatic control valve segment is projected to have the highest revenue in 2020.
By application, the market is divided into electrical power, oil & gas, water & wastewater, automotive, pharmaceuticals, mining, chemicals, food & beverages, and others. The water & waste-water management segment is projected to have the highest revenue in 2020.
Region wise, the global control valve market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise.00, Asia-Pacific is expected to grow at the highest rate during the forecast period.
The report analyzes and forecasts the control valves market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2021 to 2027. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global control valves market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the control valves market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of control valves market for the base year 2020 and the forecast between 2021 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
|Market Size||US$ 10.78 Billion by 2027|
|Growth Rate||6.8% CAGR from 2021 to 2027|
|Segments Covered||Actuation Technology, Product, Application, Region|
|Companies Mentioned||Honeywell International Inc. Emerson Electric Co., KITZ Corporation, Bürkert Fluid Control Systems, Schlumberger Limited, Flowserve Corporation, AVK Holding A/S, Rotork Plc., General Electric Company, Goodwin International Ltd|
This report provides all the essential information required to understand the key developments in the technology used in control valves market, growth trend of each segment and strategy of each company that help them to efficiently compete in the market. Also, the report provides insights related to trends and its impact on the market. Furthermore, Porter’s five forces analysis explains the factors which are currently affecting the control valves market. This report also provides comparative analysis of control valves on the basis of various parameters namely, cost, application area and service integration.
Honeywell International Inc. Emerson Electric Co., KITZ Corporation, Bürkert Fluid Control Systems, Schlumberger Limited, Flowserve Corporation, AVK Holding A/S, Rotork Plc., General Electric Company, Goodwin International Ltd are some of the major players operating within the control valves market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Global Control Valves Market
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This report provides insights into the following pointers:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: