Market Research Report
Control Valve Market by Type, Operation, and Application : Global Opportunity Analysis and Industry Forecast, 2020-2027
|Published by||Allied Market Research||Product code||991183|
|Published||Content info||276 Pages
Delivery time: 2-3 business days
|Control Valve Market by Type, Operation, and Application : Global Opportunity Analysis and Industry Forecast, 2020-2027|
|Published: December 22, 2020||Content info: 276 Pages||
Control Valve Market by Type (Linear and Rotary), Operation (Pneumatic Control Valve, Hydraulic Control Valve, and Electrical Control Valve), and Application (Electrical Power, Oil & Gas, Water & Wastewater, Automotive, Pharmaceuticals, Mining, Chemicals, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global control valve market was valued at $5,400.0 million in 2019, and is expected to reach $7,966.4 million by 2027, registering a CAGR of 7.0% from 2020 to 2027.
Control valves regulate process variables such as flow, temperature, pressure, and fluid level in process industries such as oil & gas, water management, chemicals, power generation, automotive, mining, pharmaceuticals, and food & beverages. They play an important role in increasing efficiency, safety, and profitability of these process industries. Furthermore, manufacturers of control valves are constantly engaged in research and development to design their products in accordance with changing requirements in various industries.
Development in valve automation and control technologies have contributed significantly for growth of the control valves market during recent years. Automatic valves allow remote handling, which is advantageous in hazardous and remote environments of oil & gas industries, chemical industries, and power plants. In addition, standard valves can be easily upgraded using automatic actuator systems or automatic control systems, which drives growth of the control valves market. Furthermore, rise in investments in oil & gas storage as well as refining infrastructure, mainly in North America drives the demand for control valves.
Rise in in oil & gas industries increases the demand for control valves, which is projected to boost growth of the control valve market. For instance, according to a report on North America Midstream Infrastructure through 2035 published in June 2018 by ICF International Inc., total investments on oil & gas infrastructure is projected to range between $685 billion and $895 billion from 2018 to 2035. In addition, the investment is maximum for natural gas extraction, processing, and transit, which requires highly efficient valves for control of oil & gas flow. In addition, rise in number of industrial infrastructure project around the globe is projected to drive growth of the control valve market. Growth in food & beverages industry fuels also fuels demand for control valves, which is expected to drive growth of the market.
However, huge competition from domestic manufacturers is projected to hamper the market growth. On the contrary, emerging countries such as India and China, are investing on hydrocarbon projects, which is expected to provide lucrative opportunities for the control valve market during the forecast period.
The global control valve market is segmented on the basis of type, operation, and application, and region. On the basis of type, the market is divided into linear, and rotary, On the basis of operation, it is divided into pneumatic control valve, hydraulic control valve, and electrical control valve. On the basis of application, the market is divided into electrical power, oil & gas, water & wastewater, automotive, pharmaceuticals, mining, chemicals, food & beverages, and others.
Region wise, the control valve market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2019, Asia-Pacific was the highest contributor to the control valve market, and is anticipated to secure a leading position during the forecast period.
Key companies profiled in the report include Crane Co., Alfa Laval Corporate AB, Emerson Electric Co., Flowserve Corporation, Schlumberger Ltd, Metso Corporation, KSB SE & Co. KGaA, KITZ Corporation, Samson Aktiengesellschaft, Velan Inc.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging control valve market trends and dynamics.
In-depth market analysis is conducted by control valve market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the control valve market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global control valve market forecast analysis from 2020 to 2027 is included in the report.
The key market players within the control valve market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the control valve market.
GLOBAL CONTROL VALVE MARKET SEGMENTS