Market Research Report
Control Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945185|
|Published||Content info||111 Pages
Delivery time: 2-3 business days
|Control Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 111 Pages||
The global control valves market is currently experiencing a healthy growth. A control valve is a mechanical device that is used to regulate the flow of a liquid or gas through internal passages. It consists of a pneumatically or electrically operated actuator that is mounted on a valve for modulating the flow. Some of the most common types of control valves include ball, butterfly, plug, gate and diaphragm valves that can automatically adjust the pressure, flow rate, density, temperature and concentration of the product. They are usually integrated with various accessories, such as electro-pneumatic transducers, handwheels, position indicators and limit switches and find extensive applications across multiple industries, including oil and gas, water and wastewater treatment, power, pharmaceutical and chemical.
The continually increasing demand for oil and gas from the industrial, transportation and residential sectors is the primary factor driving the market growth. Furthermore, increasing consumer preference for stainless steel product variants is also providing a boost to the market growth. Control valves further find extensive application in the food and beverage and chemical industries as they aid in minimizing contamination while handling steam, along with exhibiting resistance to abrasion and corrosion, and effective functionality even under high pressure and temperatures. Additionally, various technological advancements, such as the integration of these valves with the Industrial Internet of Things (IIoT) and the development of 3D printed valves, are creating a positive outlook for the market growth. Other factors, including extensive research and development (R&D) undertaken by manufacturers and key industry players to continually launch product variants in accordance with the changing needs of various industries, are expected to drive the market further. Looking forward, IMARC Group expects the market to register a CAGR of around 5% during 2020-2025.