Control Valve Industry Overview:
The Control Valve Market is expected to garner $13,674 Million by 2022, registering a CAGR of 7.6% during the forecast period 2016‐2022. Control valves are used to regulate process variables, such as flow, temperature, pressure, and fluid level in the process industries including oil & gas, water management, chemicals, power generation, automotive, mining, pharmaceuticals, food & beverages, and many others.
Control valves play an important role in increasing efficiency, safety, and profitability of these process industries. Furthermore, the manufacturers of control valves are constantly engaging in research and development activities to design their products in accordance with the changing requirements in various industries. The main drivers for the growth of control valves market are gradual increase in the need for automation in the process industry, the rising number of industrial infrastructure projects in developing countries, and the ever increasing investment across all the process industries especially oil & gas industry. Additionally, the demand for control valves is expected to be high in the pharmaceutical industry. High energy demand integrated with growing population is one of the major factors driving the market growth. Inefficient logistics and supply system across the world is one of the challenges for control valves market in the period 2014-2022.
The global control valves market has been segmented on the basis of product types, application, and geography. Based on product type the market is segmented into pneumatic, hydraulic, and electric control valve. In terms of application is the market can be bifurcated into electrical power, oil & gas, water & waste-water, pharmaceuticals, automotive, chemicals, mining, food & beverage, and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA (South America, Middle East and Africa).
Global Pneumatic control valve market growth, 2014-2022 (%)
Increasing investment in fluid handling technology in oil & gas and pharmaceutical industries is driving the control valve market size. Pharmaceutical industries seek to develop the sophisticated fluid handling system for improving hygiene and also to speed up the process. Oil & gas industries are increasing their investment in the shale gas field as well as pipeline installations to ensure efficient fluid handling which in turn increases the demand for control valves. Thus, increasing investment in fluid handling system is positively impacting the market in the forecast period, 2014‐2022.
High Energy Demand
With surging population trend, the energy demand is growing substantially as well. Additional electrical power generation is demanded in the countries like China and India in the forecasted period, 2014‐2022.
BRICs nations (Brazil, Russia, India and China) and the Middle East are continuing to support the control valve market due to the high consumption from the growing middle class and the need for producing and saving energy. This is being done to cope up with rising energy demand and supply of clean potable water. Future projects in these nations will be expected to bring in solid returns.
Rising Demand For Upgrading Waste Management Facilities
Increasing demand for safe and efficient waste collection and waste disposal facilities will drive the control valve industry in the upcoming years. Under the environment, health and safety guidelines, waste management projects in India, such as closure and redevelopment of Andhra Pradesh dump at Kadapa and other important projects are getting upgraded. This in turn, impacts the market.
Strict Environmental Regulation
Regulations regarding environmental pollution are being enfored in the designing of control valves. These regulations regarding environmental pollution will be expected to become tougher in the upcoming years. This will in turn, impact the design and the sales of the control valves. The sales of those valves which promote environmentally sustainable practices across various industries will be boosted significantly in the future.
Some of the major players in the control valve industry are Emerson Electric Co. (U.S.), Flowserve Corporation (U.S.), Metso Corporation (Finland), Pentair Plc (UK), General Electric Company (U.S.), Samson AG (Germany), MIL Control Limited (India), Crane Fluid Inc (U.S.), IMI Plc (UK), Velan Inc. (Canada), Crane Co. (U.S.), and Flowserve corporation (U.S.).
Key Benefits of The Study
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global control valve market.
- Geographically, the market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
- This study evaluating competitive landscape and value chain has been taken into account to help in understanding the competitive environment across the geographies.
- This report entails the detailed quantitative analysis of the current market and estimations through 2014‐2022, which assists in identifying the prevailing market opportunities.
- SWOT analysis highlights the internal environment of the leading companies for effective strategy formulation.
- This report provides the quantitative analysis of the current market and estimations through 2014‐2022, which assists in identifying the prevailing market opportunities.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
CONTROL VALVE MARKET SEGMENTS
The market is segmented on the basis of product type, application and geography.
- Pneumatic control valve
- Hydraulic control valve
- Electrical control valve
- Electrical Power
- Oil and Gas
- Water &Waste-water Management
- Food & Beverage
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Rest of the world (LAMEA)
- South America
- Middle East