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Control Valve Market
The Control Valve Market was valued at USD 5,400 Million in 2019 and is projected to grow at a CAGR of 7% over the forecast period (2020-2027).
The factors driving the growth of Control Valve Market includes increasing energy consumption around the world, extensive use of control valves in the oil and gas industry for maintain the temperature and liquid levels and rising number of nuclear power plants. According to the report published by World Nuclear Association, nearly 10% of the world's electricity is generated through 440 nuclear power reactors, the total energy generated by nuclear power reactors in India was around 43 TWh during 2020-21, constituting 3.11% of total power generation in India (1,382 TWh). Moreover, the growing adoption of smart control valve, increasing application of 3D Printing for manufacturing valves and emerging need for automation in the industrial sector, are some of the additional factors supplementing the Control Valve Market share. In addition, the increasing investments in industrial infrastructure projects, the expansion of pharmaceutical industry and growing focus on utilizing renewable sources of energy, are further propelling the Control Valve Market size.
The major players operating in the market are Spirax-Sarco Engineering plc, Crane Company, Christian Bürkert GmbH & Co. KG, Emerson Electric Co., Kitz Corporation, IMI plc, Curtiss-Wright Corporation, Trillium Flow Technologies (Weir Flow Control), Flowserve Corporation¸ and Cameron International Corporation among others.
Material: Segment Analysis
Based on material, the stainless-steel segment is anticipated to capture a sizeable market share during the forecast period attributed to growing application of control valves in food and beverage and chemical industries.
Component: Segment Analysis
Based on component, the actuators segment is predicted to grow at a significant CAGR over the forecast period. The emerging demand for control valves in oil & gas and power sector and integration of Internet of Things (IoT) to improve the productivity, are some of the factors responsible for the growth of the segment.
Industry: Segment Analysis
Based on industry, the oil & gas segment is anticipated to capture significant market share during the forecast period. The increasing application of control valves for extracting crude oil and maintaining temperature and pressure levels in the oil and gas industry, are some of the important factors responsible for the growth of the segment.
Regional: Segment Analysis
Based on region, the Asia-pacific region is predicted to dominate the market over the forecast period due to high population density, increasing middle-income class group, rapid industrialization and growing energy consumption.
Market Segmentation
Global Control Valve Market by Material
Stainless Steel
Cast Iron
Alloy Based
Cryogenic
Others
Global Control Valve Market by Component
Actuators
Valve Body
Others
Global Control Valve Market by Size
Up to 1”
>1” to 6”
>6” to 25”
>25” to 50”
>50”
Global Control Valve Market by Type
Rotary Valves
Ball Valves
Butterfly Valves
Plug Valve
Linear Valves
Global Valves
Diaphragm Valves
Other Valves
Global Control Valve Market by Industry
Oil & Gas
Water & Wastewater Treatment
Energy & Power
Pharmaceuticals and Healthcare
Food & Beverages
Chemicals
Building & Construction
Pulp & Paper
Metals & Mining
Others
Global Control Valve Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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