Control Valves Market Forecasts to 2028 – Global Analysis By Operation (Pneumatic, Hydraulic), Type (Linear, Rotary), Application (Pressure Control, Flow Control), and By Geography
According to Stratistics MRC, the Global Control Valves Market is accounted for $6.27 billion in 2021 and is expected to reach $17.94 billion by 2028 growing at a CAGR of 16.2% during the forecast period. Control valves are used in various end-user industries to control various process variables which include temperature, flow, pressure, and fluid level. They play a significant role in safety, efficiency, and profitability across several industries.
Market Dynamics:
Driver:
Rising demand from healthcare and pharmaceuticals
There is an increase in the production of critical medical devices that are expected to cure patients. Control valves play a significant role in the manufacturing of various kinds of medical devices, and several key industry players have grabbed the opportunity to contribute to the fight against the pandemic. Organizations are investing in the research and development pertaining to automatic components that are supplied to the pharmaceutical industry. Similarly, pharmaceutical companies are looking to develop sophisticated fluid handling systems, such as automatic sanitizer dispensers and liquid soap dispensers, which, in turn, is creating the need for valves. Thus, the developing production of healthcare devices and expanding R&D investments in the pharma field boost the growth of the market.
Restraint:
Absence of standardized certifications and government policies
Valve manufacturers should adhere to certain norms and regulations. Different regions have different certifications and policies regarding valves. This factor creates diversity in demand because of the high applicability of valves in different industries. However, such diversity is obstructing the growth of the control valve market as industry players need to amend the same product as per the regional policies, which makes it hard for the valve manufacturers to accomplish an ideal cost of installation. To resolve this issue, they have to invest their resources in setting up manufacturing facilities across the world, thus requiring additional capital.
Opportunity:
Increasing adoption of industrial automation
Control valves are widely utilized in process industries such as food & beverages, oil & gas, water & wastewater, petrochemical, energy & power, and pharmaceutical to reach growing automation needs. The growing trend of digitalization and automation in conventional plants is leading to higher demand for control valves. Manufacturers are advancing their capabilities in developing control valves and constantly engaging in R&D activities to design and develop their products according to requirements from the end-use industries.
Threat:
High fluctuating temperatures
Some processes at high fluctuating temperatures can cause to rise in the load inside the pipe toward the end of the valve, attributable to which the gate valve is exposed to leakage. This is likely to hamper the sales of the gate valves for high-temperature applications in the coming years.
The rotary valves segment is expected to be the largest during the forecast period
The rotary valves segment is estimated to have a lucrative growth as these valves are less prone to clogging in dirty service usages, and through the stem packing, emissions can be controlled easily, without utilizing expensive bellows seals. In addition, lighter weight and smaller size of rotary valves contribute to the constantly increasing demand for these valves.
The oil & gas segment is expected to have the highest CAGR during the forecast period
The oil & gas segment is anticipated to witness the fastest CAGR growth during the forecast period due to the increasing energy demand and drilling activities in developing countries. The oil and gas industry is moving toward valve technology with embedded processors and networking capability to work alongside sophisticated monitoring technology coordinated through a central control station.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to increasing R&D activities in the region to the use of valves in automation and the rising demand for safety applications. R&D at industry levels is broadening the application areas of valves in different industries, such as energy & power and chemicals, particularly in the US.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period as companies are investing in valve and actuator manufacturing, along with technologies, which need to be associated to convert them into smart valves. This is because of the increasing demand for automated valve operations in industries such as water & wastewater, food & beverage, energy & power, and pharmaceutical.
Key players in the market
Some of the key players profiled in the Control Valves Market include Samson Controls, Trillium Flow Technologies, Spirax Sarco, Apollo Valves, Neway Valve, Curtiss-Wright Corporation, Kitz Corporation, IMI PLC, Ham-Let, Flowserve Corporation, Emerson, Crane Co., Alfa Laval, Cameron, Neles Corporation and Christian Burkert.
Key Developments:
In Feb 2020, Emerson launched the ASC Series 158 Gas Valve and Series 159 Motorized Actuator. Designed specifically for burner-boiler applications, the new products give OEMs, distributors, contractors, and end-users a new combustion safety shutoff valve option that increases safety and reliability, and enhances both flow and control.
In August 2019, IMI PLC acquired PBM. The acquisition helped IMI expand the operations of its subsidiary IMI Critical into new market segments, including pharmaceuticals and food processing, and allowed PBM to capitalize on IMI’s global reach and support network.
Operations Covered:
• Pneumatic Control Valve
• Manual Control Valve
• Hydraulic Control Valve
• Electrical Control Valve
Leakages Covered:
• Valve Leakage
• Seat Leakage
Types Covered:
• Linear Valves
• Rotary Valves
Sizes Covered:
• Upto 1”
• >1”-6”
• >6”-25”
• >25”-50”
• >50”
Valve End Connections Covered:
• Welding End Connections
• Screwed Pipe Threads
• Bolted Gasketed Flangs
Materials Covered:
• Stainless Steel
• Cryogenic
• Alloy-Based
• Cast Iron
• Other Materials
Components Covered:
• Valve Body
• Actuators
Applications Covered:
• Pressure Control
• Flow Control
End Users Covered:
• Water & Wastewater Treatment
• Pharmaceuticals
• Chemicals
• Oil & Gas
• Metals & Mining
• Food & Beverages
• Energy & Power
• Paper & Pulp
• Building & Construction
• Automotive
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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