Market Research Report
Control Valve Market - Forecasts from 2021 to 2026
|Control Valve Market - Forecasts from 2021 to 2026|
Published: September 29, 2021
Knowledge Sourcing Intelligence
Content info: 110 Pages
Delivery time: 1-2 business days
The Control Valve market is expected to grow at a compound annual growth rate of 5.01% over the forecast period to reach a market size of US$11.641 billion in 2026, from US$8.267 billion in 2019. A control valve is known as a power-operated device or unit that is used in the manipulation or regulation of the overall flow of fluids, like steam, water, oil, and gas. The market is expected to surge in the coming years, due to the increasing demand for control valves in various sectors, such as the water & wastewater sector, oil & gas sector, food & beverage, and others. The rise in investments aiming at the development of novel and advanced control valve products and solutions is expected to be a major factor in the market growth, in the coming years. Countries, such as the United States, India, and China, are expected to enhance the market growth, in the coming years.
Major firms and corporations have been making significant developments in the market, in the past few years.
The market is expected to surge in the coming years, due to the rising demand for control valves in the water and wastewater sector, worldwide. According to the United Nations Sustainable Development Report, around US$ 6.7 trillion by the year 2030 to around US$22.6 trillion by 2050 investment has been needed in water security. The Food and Agriculture Organization had stated that around US$960 billion of global capital investment had been needed to enhance and expand the irrigation services between 2007 and 2050, in around 93 developing nations. Control valves are widely used in the water sector. It helps in the optimization of water flow through pump control stations. It also helps prevent slamming concerns and protect against reverse flow. A plethora of firms and corporations have been making significant developments in the market. For instance, Flomatic, a key valve producer certified under ISO 9001, has been offering control valves to its customers. The company has been offering automatic control valves. Its valves also work with hydraulic pilots and actuators. These trends and developments are projected to enhance the market growth, in the coming years.