The Global Control Valve Market size is expected to reach $7. 8 billion by 2026, rising at a market growth of 7. 8% CAGR during the forecast period. Control valves are utilized to control process variables like pressure, temperature, flow, and fluid level in process industries that include chemicals, power generation, automotive, mining, oil & gas, water management, pharmaceuticals, and food & beverages.
New York, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Control Valve Market By Type, By Operation, By Industry Vertical, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06021882/?utm_source=GNW
Control valves are capable of enhancing the safety, efficiency, and profitability of these process industries. Moreover, companies that manufacture control valves are consistently involved in research and development initiatives to create their products as per the emerging and changing trends in different industries.
The growth of the market is encouraged by the growing demand for valves from pharmaceuticals and healthcare industries due to the COVID-19 pandemic, increasing demand for energy in APAC, rising need for connected networks to support and observe industrial equipment. Moreover, rising attention on setting-up new nuclear power plants and enhancing the existing ones are also propelling the control value market.
The increasing need for automation in the process industry is anticipated to push the growth of the control valve market significantly. Moreover, a rise in investments in the oil & gas industry and pharmaceutical infrastructure is estimated to fuel the growth of the control valve market. For example, India invested heavily in oil & gas exploration and is establishing natural gas infrastructure to fulfill oil & gas needs. Additionally, the control valve market is propelled by the demand for control valves in the food & beverages industry. For example, as per the India Brand Equity Foundation (IBEF), the food & beverages processing industry has become a high-growth and high-profit sector, due to its massive growth potential.
Based on Type, the market is segmented into Linear and Rotary. Rotary control valves are anticipated to showcase promising growth during the forecast period. Rotary valves are less vulnerable to clogging in dirty service applications, and with the help of stem packing, emissions can be regulated easily, without using expensive bellows seals. Further, the smaller size and lightweight rotary valves push the consistently rising demand for these valves.
Based on Operation, the market is segmented into Pneumatic Control Valve, Hydraulic Control Valve and Electrical Control Valve. The pneumatic control valve segment is estimated to obtain the largest revenue share in 2019. A surge in requirements for automation in the process industry is anticipated to encourage growth for the control valve market. Moreover, increasing investments in the oil & gas industry and pharmaceutical infrastructure is expected to fuel the growth of the control valve market.
By Industry Vertical
Based on Industry Vertical, the market is segmented into Water & Wastewater, Mining, Pharmaceuticals, Food & Beverages, Government & Defense, Oil & Gas, Chemicals and Others. The oil & gas industry showcases significant growth opportunities during the forecast period, owing to the increasing energy demand and rising drilling activities in the Gulf Cooperation Council (GCC) countries. On the other hand, currently, the world is grappling with an economic and financial crisis due to the outbreak of the COVID-19 pandemic.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is expected to maintain the highest growth rate in the control valve market during the forecast period. Various key players in the control valve market are located in this region. Moreover, growing R&D activities in the region regarding the use of valves in automation and the increasing demand for safety applications are the two major factors boosting market development in North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V. (Cameron International Corporation), Flowserve Corporation, Alfa Laval AB, Crane Co., Kitz Corporation, Neway Valve Co., Ltd., Velan, Inc., Avcon Controls Pvt. Ltd. and Dwyer Instruments, Inc.
Strategies deployed in Control Valve Market
Oct-2020: Velan signed a contract with MODEC Offshore Production Systems, a global leader in building and operating floating solutions. The contract aimed to supply multiple packages of actuated and manual valves.
Jul-2020: Alfa Laval completed the acquisition with Neles Oyj, a well-known flow control solutions and services provider. In this deal, the companies complemented each other well with very little overlapping operations.
Feb-2020: Emerson launched the ASCO Series 158 Gas Valve and Series 159 Motorized Actuator. These products provided OEMs, distributors, contractors, and end-users a new combustion safety shutoff valve option that enhanced safety and reliability and improved both flow and control.
Feb-2020: Schlumberger established a manufacturing center in the King Salman Energy Park. The new complex manufactures well completions technologies that include liner hangers and packers and isolation valve technologies, such as GROVE valves and ORBIT rising stem ball valves.
Feb-2020: Crane acquired CIRCOR International, a leading provider of severe service flow control solutions. This acquisition aimed to position CIRCOR for continued success and advance the strategy to simplify the Company, sharpen its focus on core mission-critical flow control platforms, and further reduce leverage.
Sep-2019: Schlumberger unveiled the Ora intelligent wireline formation testing platform. This platform supports a new architecture and metrology for improved performance that allows dynamic reservoir characterization in all conditions, including where previously impossible.
Jun-2019: Alfa Laval introduced a refreshed, rethought version of the Alfa Laval ThinkTop. The Alfa Laval ThinkTop V50 and V70, the second-generation premium control units reconstructed to fulfill customer’s requirements along with incorporating the latest advances in technology.
Dec-2018: Emerson acquired Advanced Engineering Valves, a leading manufacturer of innovative valve technology. The acquisition allowed Emerson to provide its customers with the world’s broadest portfolio of valves to enhance process performance and reliability.
Nov-2018: Emerson launched its Severe Service app. This app allowed engineers to quickly perform initial sizing for Fisher globe control valves, as well as diagnose potential valve problems before damage occurs.
Oct-2018: Alfa Laval launched an aseptic double-seat valve to its range of Alfa Laval mix proof valves. The new Valve diminishes the total cost of ownership for dairy, food, beverage, and other manufacturers by up to 45% compared to the leading aseptic double-seat mix proof valves.
Apr-2018: Kitz Corporation took over the Cephas Pipelines Corporation, a Korean valve manufacturer. The acquisition of Cephas helped KITZ in broadening its lineup of butterfly valves.
Oct-2017: Schlumberger introduced the GROVE IST integrated seat technology ball valve. This product enhanced performance over conventional metal-seated ball valves in addition to considerable size and weight benefits.
May-2017: Crane took over Westlock Controls from Emerson Electric. The acquisition aimed to strengthen Crane’s instrumentation portfolio.
Apr-2017: Emerson took over Pentair, an American water treatment company. The acquisition expanded Emerson’s global footprint in automation and strengthened their leadership position in key served markets such as chemical, power, refining, mining, and oil and gas.
Scope of the Study
Market Segments Covered in the Report:
• Pneumatic Control Valve
• Hydraulic Control Valve
• Electrical Control Valve
By Industry Vertical
• Water & Wastewater
• Food & Beverages
• Government & Defense
• Oil & Gas
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Emerson Electric Co.
• Schlumberger N.V. (Cameron International Corporation )
• Flowserve Corporation
• Alfa Laval AB
• Crane Co.
• Kitz Corporation
• Neway Valve Co., Ltd.
• Velan, Inc.
• Avcon Controls Pvt. Ltd.
• Dwyer Instruments, Inc.
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