Market is segmented By Type (Pneumatic control valve, Hydraulic control valve, Electrical control valve) By components (Valve Body, Actuators, Others) By Application (Electrical Power, Oil and Gas, Water & Waste-water, Management, Automotive, Pharmaceuticals, Mining, Chemicals, Food & Beverage, others)By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Data Bridge Market Research new report "Global Control Valves Market accounted to USD 6.5 billion in 2016 growing at a CAGR of 5.8% during the forecast period of 2017 to 2024".
Years considered for this report:
Historical Year: 2015
Base Year: 2016
Estimated Year: 2017
Forecast Period: 2017–2024
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Control valves are used in various industrial sectors which include oil & gas, waste water management, automotive, pharmaceuticals, chemical and others in order to control temperature, flow, and pressure by received signals from the controllers. Control valves regulate the rate of fluid flow to maintain a process variable.
Currently, oil & gas and power generation industry is showing highest demand for control valves as it has ability to control flowing fluid such as gas, stream, water and chemical compound, to reimburse load disturbance and thereby keep the regulated process close to the desired set point.
Major Market of Global Control Valves Market
Some of the major players operating in control valves market are Burkert Fluid Control System, Curtiss-Wright Corporation, Crane Co., Emerson, Flowserve Corporation, Alfa Laval, IMI PLC,Neway Valves (Suzhou) Co., Ltd.,Velan Inc., Samson AG., Pentair PLC., Kitz Corporation, Metso, The Weir Group PLC,SpiraxSarco Limited, Mil Control Limited, dual products intl. CC, among others. In 2017, Curtiss-Wright Corporation entered into agreement with Clarke Industrial Engineering that help to develop worldwide market for Shutter Valve™ technology used in Naval Defense Market.
Market Segmentation of Global Control Valves Market
On the basis of type the control valves market is segmented into
- Pneumatic control valve
- Hydraulic control valve
- Electrical control valve
The electrical control valves market is expected to grow in the forecasted period.
On the basis of components the control valves market is segmented into
- Valve Body
The actuators market is expected to grow in the forecasted period.
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On the basis of application the control valves market is segmented into
- Electrical Power
- Oil and Gas
- Water & Waste-water Management
- Food & Beverage
The Oil & Gas market is expected to grow in the forecasted period.
Market Drivers of Global Control Valves Market
- Demand of oil & gas and power industries
- Demand in the pharmaceutical and food & beverage industries
- Rising number of industrial infrastructure projects in developing countries
- Increased automation in the process industries
- Competition from domestic manufacturers
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