Control Valve Market by Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Valve Size, Valve Components (Actuators, Valve Body, Others), Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power), and Geography - Global Forecast to 2024
“Control valve market to grow at significant rate from 2018 to 2024”
The control valve market is expected to grow from USD 7.48 billion in 2018 to USD 10.62 billion by 2024, at a CAGR of 6.02% from 2018 to 2024. Key factors driving the growth of the control valve market include the increased need for connected networks to maintain/monitor various equipment in plants and the commissioning of new nuclear plants, along with the upscaling of existing plants. Strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships adopted by market players are fueling the growth of the control valve market. However, high initial investments for control valves and the malfunctioning of control valves are restraining the growth of the control valve market.
“Control valves with sizes ranging from 1” to 6” to account for largest size from 2018 to 2024”
The market for control valves having sizes ranging from 1” to 6” is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing demand for transportation and power-based applications; as a result, there is an increase in the use of 1”-6” valves in the oil & gas, energy & power, water & wastewater treatment, chemicals, and other industries.
“APAC to be fastest-growing market for control valves from 2018 to 2024”
The control valve market in Asia Pacific (APAC) held the largest share of the overall market in 2017 and is expected to grow at the highest CAGR during the forecast period. Major factors driving the growth of the control valve market in APAC include the increasing population and rising focus of emerging economies on investing in industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction in which control valves are used.
The break-up of the profiles of primary participants for the report has been given below.
By Company Type: Tier 1 = 20%, Tier 2 = 55%, and Tier 3 = 25%
By Designation: C-Level Executives = 50%, Directors = 25%, and Managers = 25%
By Region: North America = 60%, Europe = 20%, APAC = 10%, and RoW = 10%
Emerson (US), IMI PLC (US), Flowserve (US), and Weir Group (UK) are among the major players in the control valve market.
The control valve market, in this report, has been segmented by valve type, valve component, valve size, industry, and geography. The market based on valve type has been further classified into ball valves, butterfly valves, plug valves, diaphragm valves, gate valves, and piston valves. The control valve market, by valve size, has been further segmented into up to 1”, 1” to 6”, 6” to 25”, 25” to 50”, and 50” and larger. The control valve market based on industries has been segmented into oil & gas, energy & power, water & wastewater treatment, food & beverages, chemicals, pharmaceuticals, pulp & paper, and others (textiles, glass, and semiconductor manufacturing).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market, by valve type, valve component, valve size, industry, and geography have been provided to give the overall view of the control valve market.
The value chain analysis pertaining to the control valve ecosystem has been included to provide in-depth insight into the control valve market.
Major drivers, restraints, opportunities, and challenges for the control valve market have been provided in the research report.
The report includes a detailed competitive landscape and revenues of key players.
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