Global Choke Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Choke Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Choke valve is a type of control valves, mostly used in oil and gas production wells to control the flow of well fluids being produced. Another purpose that the choke valves serve is to kill the pressure from reservoir and to regulate the downstream pressure in the flowlines. Choke valves allow fluid flow through a very small opening, designed to kill the reservoir pressure while regulating the well production. The reservoir fluids can contain sand particles. Hence the choke valves are usually designed to handle an erosive service.

Market Overview:

The latest research study on the global Choke Valve market finds that the global Choke Valve market reached a value of USD 493.98 million in 2022. It’s expected that the market will achieve USD 616.02 million by 2028, exhibiting a CAGR of 3.75% during the forecast period.

Opportunities

Choke valves are widely used in the oil and gas industry. The function of the non-regulating throttle is to act as a switching valve and kill the reservoir pressure to the desired operating value in the flow line. The opening in the throttle is sized to relieve pressure when the valve is fully open. The regulating throttle valve is an automatic valve whose opening can be controlled by pneumatic or electrical signals to regulate the flow
in the pipeline. Throttle valves play an important role in improving the safety, profitability and efficiency of end-use industries in multiple production processes. Valves provide advantages in temperature or pressure regulation in the upstream, midstream and downstream activities of the entire oil and gas industry.
Due to increased demand for shale oil and natural gas, new oil and gas projects are driving the construction of new pipelines for the transport of shale oil. This is expected to drive the throttle market in the next few years. Natural gas exploration activities in different regions and the need to replace valves may create attractive opportunities for overall market expansion.
The increase in fluid handling investment is one of the key factors expected to drive the growth of the throttle market within the forecast timeframe. Investment in fluid handling technology in the oil and gas and water and wastewater management sectors has increased. This has spurred the demand for throttle valves in these industries in recent years.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Schlumberger, Master Flo and IMI Critical Engineering with the revenue market share of 10.28%, 8.64% and 8.25% in 2018.

Schlumberger Limited is the world's largest oilfield services company. Schlumberger employs approximately 100,000 people representing more than 140 nationalities working in more than 85 countries. Schlumberger has four principal executive offices located in Paris, Houston, London, and the Hague.

Master Flo Valve Inc. provides ground and subsea flow management solutions to the global oil and gas industry.

Customers rely on throttles, control valves, drive, automation and communication solutions, as well as expertise and global support to ensure cost-period and reliable production through reliable flow to ensure their lifecycle in the field.

Segmentation Overview:

Among different product types, Non-regulating segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Oil and Gas Production Wells segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Choke Valve market covered in Chapter 3:

Taylor Valve Technology
Quam
General Electric
Well Master
Cyclonic Valve Company
National Oilwell Varco
Weir Group
Master Flo
Jereh Group
Schlumberger
IMI Critical Engineering
Mokveld
SchuF Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Choke Valve market from 2018 to 2029 is primarily split into:

Non-regulating
Regulating

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Choke Valve market from 2018 to 2029 covers:

Oil and Gas Production Wells
Reservoirs
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)