The control valves market was valued at USD 6.78 Billion in 2016 and is expected to reach USD 9.88 Billion by 2023, at a CAGR of 5.33% between 2017 and 2023.
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The control valves marketis highly competitive owing to the presence of several established and emerging players. This market is expected to grow at a CAGR of 5.33% between 2017 and 2023.
Product launches and acquisitions have been the key strategies adopted by the players to grow in the control valves market. These strategies accounted for a share of ~45% and ~15%, respectively, of the overall growth strategies adopted by the market players between January 2014 and March 2017.
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The increasing concern for lead time and cost of fabrication of control valves applications has encouraged the companies to adopt this strategy. Besides product launches and acquisition, the companies have also adopted partnerships, expansions, demonstrations, and contracts to expand their business operations, product portfolio, and distribution network; and strengthen their position and share in this market.
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Emerson Electric (US) is one of the leading manufacturers of control valves. The company provides industry-specific engineering, consulting, project management, and maintenance services to industries such as alternative energy, chemicals, food & beverages, industrial energy, life sciences, marine, metals & mining, oil & gas, power, pulp & paper, refining, and water treatment.
It offers a wide range of control valves, such as globe valves, ball valves, plug valves, butterfly valves, and actuators. Emerson has achieved a market leadership position in the control valves market by developing and deploying cutting edge technologies and gaining outstanding customer support globally.
In the fourth quarter of 2016, the company entered into an agreement to purchase Pentair’s Valves & Controls (UK) business unit for USD3.15 billion. This acquisition helped Emerson to expand its business and create new growth capabilities as well as deliver a wide range of valve solutions to its customers through its most extensive service network.
Flowserve Corporation (U.S.) is a leading player in the control valves market. The company designs, manufactures, and distributes industrial flow management equipment.
Its Engineered Product Division (EPD) offers pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, and related equipment; it also offers related services. The company’s Industrial Product Division (IPD) provides engineered and preconfigured industrial pumps and pump systems, including submersible motors and specialty products.
The company‘s Flow Control Division (FCD) offers industrial valves and automation solutions, including isolation and control valves, actuation, controls, and related equipment; and energy management products, such as steam traps, boiler controls, and condensate and energy recovery systems. Flowserve provides its products to various industries such as oil & gas, chemicals, water management, power generation, and others, comprising mining & ore processing, pharmaceuticals, pulp & paper, and food & beverages.
The company sells its products directly; it also distributes its products through distributors and sales representatives worldwide.
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