Control Valve Market Research Report
Control Valve Market
The control valve market is
growing at a significant rate over the forecast period (2020-2027). According
to the GMI Research forecast, the market is growing at a faster rate due to the
growing demand from end-use industries such as oil & gas, water &
wastewater treatment, and the energy & power industry.
A control valve refers to a
power-operated device or valve that is used to modify the fluid flow rate in a
process system. The control valve offers direct control of flow rate and consequential
control of process quantities, such as liquid level, pressure, and temperature.
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The
significant factors contributing to the growth of the global control valve market
include the rising demand for energy in the Asia-pacific region, increased adoption
of valves among oil & gas associated with companies in GCC countries,
growing requirement for connected networks to manage and maintain various types
of equipment in plants, and growing emphasis on established new nuclear power
plants and upscaling of existing plants. Growing industrial automation
is further boosting the usage of smart control valves. Furthermore, the rising
usage of 3D printing in the manufacturing of valves, the growing adoption of
IIoT and industry 4.0, increasing requirement for valve replacement, coupled
with rising adoption of smartphones are some other factors propelling the
growth of the market in the upcoming years. Additionally, valve manufacturers'
growing focus to deliver improved customer service is bringing new opportunities
for market growth.
Growing power generation plants
worldwide and increasing the need for energy and power from developing
economies are driving the growth of the control valve industry. These valves
are also used in nuclear power plants, especially in chemical treatment, feed
water, cooling water, and steam turbine control system. Furthermore,
high-temperature, high-pressure, and adverse corrosion conditions experienced
with production and refineries platforms have also led to an upsurge in demand
for control valve market. On the other hand, the high cost of fabrication and
unplanned downtime due to malfunctioning or failure of valves are the major
factors restraining the growth of the market.
Key Players of the Control
Valve Market:
·
Christian Bürkert GmbH & Co. KG
·
Emerson Electric Co.
·
Flowserve Corporation
·
IMI plc
·
Curtiss-Wright Corporation
·
Trillium Flow Technologies (Weir Flow Control)
·
Cameron International Corporation
·
Spirax-Sarco Engineering plc
·
Crane Company
·
Kitz Corporation
Market Segmentation:
Control Valve Market Report
Segment by Material:
·
Stainless Steel
·
Cast Iron
·
Alloy Based
·
Cryogenic
·
Others
Control Valve Market Report Segment by Component:
·
Actuators
·
Valve Body
·
Others
Control Valve Market Report Segment by Size:
·
Up to 1”
·
>1” to 6”
·
>6” to 25”
·
>25” to 50”
·
>50”
Control Valve Market Report Segment by Type:
·
Rotary Valves
o
Ball
Valves
o
Butterfly
Valves
o
Plug
Valve
·
Linear Valves
o
Global
Valves
o
Diaphragm
Valves
o
Other
Valves
Control Valve Market Report Segment by Industry:
·
Oil & Gas
·
Water & Wastewater Treatment
·
Energy & Power
·
Pharmaceuticals and Healthcare
·
Food & Beverages
·
Chemicals
·
Building & Construction
·
Pulp & Paper
·
Metals & Mining
·
Others
Control Valve Market Report
Segment by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
About GMI
Research
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