The control valve market trends is growing persistently, witnessing rising sales. The market growth attributes to the increasing usages of control valves in the burgeoning construction industries. Besides, rising demand from end-use industries such as oil & gas, chemicals, food & beverage, and pharmaceuticals, substantiates the market growth. Moreover, increasing usages of control valve in water & wastewater treatment and energy & power industry applications create substantial market demand.
The water & wastewater treatment industry requires several chemical/ physical treatment processes and biological wastewater treatment processes to remove pollutants & harmful contaminants, such as sulfur, nitrates, and bacteria, from water. Additionally, increasing investments in the water & wastewater and construction industry, alongside the upscale of nuclear power plants, boost the control valve market growth.
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According to Market Research Future (MRFR), the global control valve market size is projected to expand exponentially, registering an impressive CAGR throughout the anticipated period (2019-2026). Without a controlled flow, a pump can quickly suffer severe damages, causing downtime and costly repairs. Control valves regulate the flow of complex equipment, controlling flow measurement devices, control unit, and energy supply continuously.
The market is segmented into five dynamics;
By Valve Type : Gate Valve, Globe Valve, Diaphragm Valve, Ball Valve, Butterfly Valve, Check Valve, and others.
By Valve Size : 1”, 1" to 6", 6" to 25", 25 “to 50", and 50" & above.
By Component : Valve Body, Actuators, and others.
By End-Use : Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverage, Pharmaceuticals, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
The Asia Pacific region dominates the global control valve market. The largest control valve market share attributes to the increase in investments in the construction and energy & power industries. Besides, the region is expected to witness around USD 1.7 TN per year in infrastructure by 2030 to maintain its growth momentum, substantiating market growth.
Furthermore, the regulatory and institutional reforms drive the market growth, making infrastructure more attractive for private investors and to plan projects for public-private partnerships. Also, the increasing focus on generating power from renewable energy sources fosters the growth of the regional market. China and India had the highest contribution to the region’s total renewable energy generation capacity. The APAC control valve market is poised to retain its dominance throughout the forecast period.
North America stands second in the global control valve market growth. The market is driven by the rising usages of control valves to regulate liquid flow in fire fighting systems, piping systems, and water supply systems. Moreover, the burgeoning construction industry and the spurting growth in wind, bioenergy, and hydropower energy boost the regional market growth. The US, with its highest contribution in total renewable energy generation capacity, leads the regional market.
The control valve market size in the European region is growing rapidly. Factors such as the increasing focus on renewable energy generation foster the growth of the regional market. Additionally, increasing usages of control valves in quadrupling numbers of hydropower plants to control and regulate water flow for turbines propel the regional control valve market growth. The European valve market is projected to create a substantial revenue pocket during the forecast period.
Highly competitive, the global control valve market appears fragmented due to the presence of several well-established players. Industry players incorporate strategies, such as mergers & acquisitions, collaborations, expansion, and product or technology launch. They compete based upon pricing, technology, reputation, and services. From the product development and sales perspective, players invest in R & D to develop a technology, brand building, and expand their reach to support their competitive position.
Players leading the global control valve market include Flowserve Corporation (US), Emerson Electric Co. (US), IMI plc (UK), Crane Co. (US), ALFA LAVAL (Sweden), Eaton (Ireland), General Electric (US), Curtiss-Wright Corporation (US), Pentair plc (US), Velan Inc. (Canada), First Reserve (Scotland), Schlumberger Limited (US), Burkert Fluid Control Systems (Germany), SAMSON (Germany), and Metso Corporation (Finland), among others.
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