A Control Valves Market Size, Trends & Growth Opportunity, By Type (Pneumatic Control Valve, Hydraulic Control Valve, and Electrical Control Valve), By Application (Electric Power, Oil & Gas

Control Valves Market Size, Trends & Growth Opportunity, By Type (Pneumatic Control Valve, Hydraulic Control Valve, and Electrical Control Valve), By Application (Electric Power, Oil & Gas, Automotive, Pharmaceutical, Mining, Chemical, Food & Beverages, and Others), By Region and Forecast till 2027>

Control Valves Market

The global Control Valves market was valued at USD 7557.75 million in 2021 and is expected to reach USD 12,592.5 million by 2027, growing at a CAGR of 6.99% from 2022 to 2027.

Valves used to control conditions like flow, temperature, pressure, and liquid level by fully or partially opening or closing in response to signals received from controllers which compare a “set point” to a “process variable” whose value is provided by sensors that monitor changes in such conditions are Control valves. Control valves play a vital role in growing the efficiency, safety, and profitability of these process industries.

Drivers

A speedily rising number of solar thermal energy plants have increased the application areas of control valves which drives the Control Valves market.

Factors that are all driving the development of renewable energy technology are the increasing need for energy, finite fossil fuel resources, and greenhouse gas emissions from carbon-based fuel burning such as wood, coal, oil, and natural gas.

The growing need for wireless infrastructure to monitor equipment in various plants, increased focus on automation, and expanding number of process industry establishments are the key drivers for Control Valves Market growth.

Segmentation

Based on type, the global pneumatic control valve market is expected to witness the highest growth over the forecast period. Growth in demand for pneumatic control valves from the oil and gas industry is the major factor impacting a positive impression on the development of the pneumatic control valve

Based on end-user, the oil & gas industry projected the highest share of the control valve market in 2019. Factors like rising energy demand and increasing drilling activities across the globe are fuelling the growth of this segment.

Regionally, North America control valve market lead the market with the highest revenue share.

This is mainly accredited because of the high demand for valve replacement from a large number of active projects in the region.

Asia Pacific is likely to register lucrative growth opportunities due to the presence of developing counties such as India and China. Increasing demand for automated valve operations in several end-user industries like food & beverage, pharmaceutical, energy & power, and water & wastewater are also promoting the growth of the market in this region

Challenges: Changing government policies and lack of standardized certifications to impede the market growth

The manufacturers of control valves need to adhere to certain norms & regulations. There are different certifications & policies for valves in different regions, which create diversity in demand owing to the wide-ranging applicability of control valves in various end-use industries, such as oil & gas, pharmaceuticals, food & beverages, and many others.

This is likely to be major threat for the global market growth in the coming years. For instance, the American Petroleum Institute (API) Standard 598 or API STD 598 includes valve inspection and testing.

This standard covers inspection, additional examination & pressure test requirements for metal-to-metal seated and resilient-seated gate, plug, globe, ball, check & butterfly valves.

Recent Developments:

In March 2020, Total Valve Systems launched a new control valve management system that integrates a range of services designed to maximize efficiency, return on investment and reliability. The new product relies mostly on electrical, hydraulic, or pneumatic actuators to ensure a valve attains a specified degree of opening. The new management system combines valve sizing software, live monitoring, valve diagnostics, maintenance services, system analytics, and reliability reports.

In February 2020, a CIRCOR International brand RTK®, and an international leader in the design and manufacture of control valves and actuators, introduces the REflex Quick Change Seat Control Valve with REact 30 DC-PoP smart actuator, all of them are a flexible all-in-one solution for noise reduction and high-pressure drop applications. The respective REflex QCS Control Valve assembles and disassembles in four quick steps without the need for special tools, and accelerating maintenance by up to eighty-five percent for efficiency and cost-savings

Market Key Players

Various key players are listed in this report such as Emerson Electric, General Electric, Samson AG, MIL Control Ltd, Metso Corporation, Pentair Plc, Velan Inc., Crane Co., Flowserve Corporation, and IMI Plc.

Market Taxonomy

By Type

• Pneumatic Control Valve
• Hydraulic control valve
• Electrical Control Valve

By Application

• Electrical Power
• Oil & Gas
• Automotive
• Pharmaceutical
• Mining
• Chemical
• Food & Beverages
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Control Valves Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?

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