The Control Valve by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033)
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According to The Business Research Company’s Control Valve, The control valve market size has grown rapidly in recent years. It will grow from $6.75 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to industrial expansion, regulatory compliance, energy sector dynamics, infrastructure development, safety and environmental concerns, globalization, upgradation of aging infrastructure.
The control valve market size is expected to see rapid growth in the next few years. It will grow to $12.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to energy efficiency focus, environmental sustainability, demand for high-performance valves, focus on preventive maintenance, expansion in emerging markets, market consolidation.. Major trends in the forecast period include smart valve technology, industry 4.0 and iiot integration, digitalization and remote monitoring, modular valve design, advanced materials and coatings.
The growing oil & gas and power industries are expected to propel the control valve market growth going forward. The oil & gas industry refers to companies that are involved in discovering a resource, transporting it to a refinery, and processing it into a finished product. The power industry includes businesses that are involved in providing power such as gas, and electricity to domestic and commercial uses. The boom in the oil & gas and power industries requires the installation of control valves for processing and distribution. For instance, according to the Energy Information Administration – EIA, a US-based provider of energy information, the production of crude oil in the US in 2022 increased by 14.05% to 11,316 barrels per day compared to 9,925 barrels per day in 2021. Also, the electricity net generation in the US in September 2022 increased by 0.9% to 350,920 thousand MWh from 2021. Therefore, the growing oil & gas and power industries are driving the growth of the control valves market.
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The control valve market covered in this report is segmented –
1) By Type: Linear, Rotary
2) By Component: Valve Body, Actuator, Other Components
3) By Material: Stainless Steel, Alloy-Based, Cast Iron, Cyrogenic, Other Materials
4) By Industry: Oil and Gas, Water and Wastewater Treatment, Energy and Power, Pharmaceuticals, Food and Beverage, Chemicals, Building and Construction, Paper and Pulp, Metals and Mining, Other Industries
Major companies operating in the control valve market are developing featured valves such as butterfly valve ranges for enhanced flow balancing in control valve applications. A butterfly valve is a type of quarter-turn valve that uses a rotating disk to control the flow of fluid through a pipe or tub. For instance, in July 2022, Valmet, a Finland-based developer and supplier of process technologies, launched the Neles Q-Disc, a high-performance feature for flow balancing in control valve applications. Q-Disc is designed for control applications and is part of Valmet’s versatile butterfly valve product range to address challenges in complex process conditions. Its key benefits include preventing oversized actuators and offering a cost and energy-efficient solution. Q-Disc tackles issues such as cavitation and provides significant noise reduction, up to 12 dB in specific flow conditions. The modular option is available for a range of butterfly valves, contributing to improved reliability and efficiency in overall process operations.
The control valve market report table of contents includes:
1. Executive Summary
2. Control Valve Market Characteristics
3. Control Valve Market Trends And Strategies
4. Control Valve Market – Macro Economic Scenario
5. Global Control Valve Market Size and Growth
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26. South America Control Valve Market
27. Brazil Control Valve Market
28. Middle East Control Valve Market
29. Africa Control Valve Market
30. Control Valve Market Competitive Landscape And Company Profiles
Top Major Players:
- Schlumberger Limited
- Alfa Laval AB
- Conbraco Industries Inc
- Arca Regler GmbH
- Burkert Fluid Control Systems
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