Global Control Valves Market 2016-2020
About Control Valves
Control valves are devices that automatically regulate the flow rate, temperature, and pressure of liquids or gases based on an algorithm that adjusts the desired variable. Sensors detect changes in the flow of a substance and send out signals that control the operation of valves.
Technavio’s analysts forecast the global control valves market to grow at a CAGR of 5.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global control valves market for 2016-2020. To calculate the market size, the report considers the demand for control valves from various end-user segments. The average price of various types of control valves has been considered to determine the market size.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Control Valves Market 2016-2020
Technavio recognizes the following companies as the key players in the global control valves market: Curtiss-Wright, Emerson Electric, Flowserve, and Weir Group
Other Prominent Vendors in the market are: Alfa Laval, GE, IMI, KSB, L&T Valves, Neway Valve (Suzhou), Valvitalia Group, Velan, and Watts Water Technologies
Commenting on the report, an analyst from Technavio’s team said: “Many industrial valve vendors are developing next-generation valves with additional capabilities to increase their foothold in the competitive market. These recent products have threaded bonnets, a floating polytetrafluoroethylene diaphragm, and a zero minimum operating differential design that provide substantial benefits over the conventional valves. The new valves are gaining popularity as they can deliver 60% higher flow rates and longer operational life, and have a wide temperature range and pressure handling ability that can improve the efficiency of industrial production processes.”
According to the report, there is increased demand for high quality and uncontaminated water for domestic consumption purposes. Though advanced economies have a well-developed infrastructure for water production, they lack effective supply facilities, resulting in impurities polluting the water during conveyance. This has led to several European countries shifting their focus toward improving municipal water treatment infrastructure. These countries have already employed technologically advanced industrial water treatment infrastructure. For example, both Germany and the UK are investing heavily in developing municipal water treatment infrastructure by 2020.
Further, the report states that the principal raw materials going into the manufacturing of control valves comprise copper, stainless steel, cast iron, aluminum, brass, bronze, and other metal alloys. The cost of these inputs does not remain constant but fluctuates continuously, due to their scarcity and inflationary pressures. Fluctuations in raw material prices impact the productivity of vendors, in terms of the number of units they need to manufacture. When the price increases, vendors have to bear the excess cost of ownership. Due to the highly competitive nature of the market, the vendors' inability to pass on the excess cost to the end-users reduces their profit margins. In addition, the necessity for constant maintenance and support from vendors increases the overall cost of ownership and has an adverse effect on the vendors’ profit margins. Vendors are compelled to deal regularly with price fluctuations to remain competitive, which has become a challenge to them and restrict the growth of the global market.
Curtiss-Wright, Emerson Electric, Flowserve, Weir Group, Alfa Laval, GE, IMI, KSB, L&T Valves, Neway Valve (Suzhou), Valvitalia Group, Velan, Watts Water Technologies.