Global Control Valves Market to Reach $26.2 Billion by 2030
The global market for Control Valves estimated at US$10.4 Billion in the year 2023, is expected to reach US$26.2 Billion by 2030, growing at a CAGR of 14.2% over the analysis period 2023-2030. Actuators, one of the segments analyzed in the report, is expected to record a 14.9% CAGR and reach US$11.9 Billion by the end of the analysis period. Growth in the Valve Body segment is estimated at 13.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 18.3% CAGR
The Control Valves market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2030 trailing a CAGR of 18.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.8% and 11.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.3 Billion by the year 2030.
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