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Control valves market value to reach USD 16 billion by 2024

Industrial Market Research

The Control Valve Market garnered a revenue at $9 billion in 2016 and is projected to reach $16 billion by 2024, having a CAGR of 7.7 % during the forecast period of 2017 to 2024.In 2016, the pneumatic control valve market generated the highest revenue share in the global control valve market.

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A device which is capable of controlling flow at changing degrees between minimal flow and full capacity in response to a signal which is generated from an external control device. In any control loop, a control valve is referred to a final control element, as it completes the physical work and directly affects the whole process.

Valve usually has an actuators mounted on it which helps the control of flow by the movement of valve plug.