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The control valves market size is forecast to increase by USD 2.78 billion, at a CAGR of 5.33% between 2023 and 2028. The market growth analysis is influenced by several factors, including rising investments in fluid handling systems, which enhance efficiency and reliability in various industries. Additionally, the growth in renewable energy is driving demand for advanced fluid-handling solutions to support sustainable energy projects. Moreover, stringent environmental regulations are pushing industries to adopt more efficient and eco-friendly fluid-handling technologies to comply with regulatory standards. These factors together are propelling the market forward, emphasizing the need for innovative solutions that align with environmental and energy efficiency goals. Our report examines historic data from 2018 - 2022, besides analyzing the current and forecasted market scenario.
Furthermore, the market encompasses a wide range of applications across various industries, including the Permian Basin, petrochemicals, petroleum demand, healthcare and pharmaceuticals industries, process plants, power generation, pulp & paper, renewable energy, sanitation, water & wastewater treatment, and temperature control. In the Permian Basin, control valves play a crucial role in managing the flow of crude oil and natural gas and in the steam turbine control system. The petrochemicals industry relies on control valves for pressure control in refineries and petrochemical plants. Additionally, Avcon Controls Pvt. Ltd. company offers control valves such as 5545A, 5517B, and 5544A. Also, AVK Holding AS company offers control valves such as Wouter Witzel Eurovalve check valve, AVK direct control valve, and AVK 2-Way Modulated Pneumatic Valve 5065.
Market Forecast 2024-2028
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In the Oil & Gas industry, they are integral to power generation plants and nuclear power plants. In the Energy & Power industry, control valves play a crucial role in connected networks, ensuring the efficient operation of industrial equipment. Smart control valves, an advanced technology, are gaining popularity due to their ability to communicate and respond to changing conditions in real-time. Automatic components, such as solenoid valves, are also essential in control systems. Industry players continue to invest in research and development to improve the performance and reliability of control valves. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Control valves play a crucial role in various industries, particularly in the energy & power sector, including oil and gas, water and wastewater, and the chemicals industry. These automatic components are essential for managing fluid flow and pressure in applications such as crude oil production, cooling water systems, desalination plants, and chemical treatment processes. Actuators are used to operate control valves, which can be ball valves, butterfly valves, diaphragm valves, gate valves, or linear control valves.
Moreover, the food and beverages industry, medical devices, and other sectors also rely on control valves for precise fluid control. The financing opportunities in emerging economies and the growing demand for energy sources to meet the needs of a growing population are expected to further boost the market. Industrial equipment manufacturers, such as Leslie Controls, are innovating to meet the demands of various industries, including miniaturization and the development of control valves for high-temperature applications. Hence, such factors are driving the market during the forecast period.
The market has experienced substantial growth in recent years, driven by advancements in design and functionality. Actuators have become more compact, enhancing their shutoff capability, while sealing technology has evolved, making valves more resistant to corrosion and erosion. These improvements have been instrumental in increasing control valve performance. In various industries, including the energy & power sector, chemical treatment in the chemicals industry, and desalination plants, control valves play a crucial role in fluid handling systems. With the increasing focus on automation and industrial equipment in emerging economies, the demand for automatic components in control valves is escalating.
Moreover, the oil & gas industry, particularly in the context of crude oil prices and alternative energy sources like methane, is a significant market for control valves. Ball valves, butterfly valves, gate valves, and diaphragm valves are widely used in this sector. Maintenance activities and financing opportunities are essential considerations in the market. Industrial automation and greenhouse gas emissions regulations necessitate the use of energy-efficient control valves. Leslie Controls and other industry players offer a range of linear control valves, miniaturized valves, and valves for applications in medical devices and high-temperature environments. Hence, such factors are driving the market during the forecast period.
Control valves are essential components in various industries, including the energy & power sector, chemicals industry, and automation needs in manufacturing. These valves, which include actuators, ball valves, butterfly valves, diaphragm valves, gate valves, and linear control valves, play a crucial role in fluid handling systems. The market is influenced by several factors, such as aging infrastructure, the need for energy efficiency, and the increasing adoption of automation and digital intelligence. In the energy & power industry, crude oil prices and the shift towards alternative energy sources impact the demand for control valves.
Additionally, the increasing focus on energy sources like methane and the need for financing opportunities in industrial automation further boost the market. Maintenance activities and environmental legislation also impact the control valve market. For instance, the need for greenhouse gas emissions reduction and the growing demand for miniaturization in medical devices and liquid soap dispensers require control valves with high corrosion and chemical resistance. Special metal grades like super austenitic stainless steel, duplex steel, and super duplex steel are used for such applications. In summary, the control valve market is driven by various factors, including the energy & power industry, chemicals industry, automation needs, and environmental legislation. Hence, such factors are hindering the market during the forecast period.
The pneumatic segment will account for a major share of the market's growth during the forecast period.? The market encompasses a wide range of automatic components, including Actuator-equipped Ball valves, Butterfly valves, Diaphragm valves, Gate valves, and Linear control valves. These valves play a crucial role in various industries, such as the Chemicals industry, Energy & power industry, Food & beverages industry, and Oil & gas industry. With the increasing focus on Automation and energy efficiency, the demand for Control Valves is on the rise. Aging infrastructure in Emerging economies necessitates the need for maintenance activities and upgrades, providing Financing opportunities for Industry players like Leslie Controls. The integration of Digital intelligence and Connected networks in Fluid handling systems is revolutionizing Industrial automation, enabling real-time monitoring and optimization of processes.
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The pneumatic segment segment was valued at USD 6.25 billion in 2018. Alternative energy sources, such as Methane and renewable energy, are gaining popularity, leading to an increase in demand for Control Valves in Desalination plants and Nuclear power plants. The Energy sources sector is also witnessing a shift towards Energy efficiency and Environmental legislation, driving the need for advanced Control Valves to manage Cooling water and reduce Greenhouse gas emissions. Automation needs in Medical devices, and Industrial equipment is another significant market for Control Valves. The Miniaturization trend is leading to the development of smaller, more precise Control Valves for applications in Liquid soap dispensers and other sectors. Crude oil prices and the Oil & gas industry's growth trajectory continue to impact the market. Hence, such factors are fuelling the growth of the segment during the forecast period.
Based on product, the market has been segmented into sliding shaft, and rotating shaft. The sliding shaft?segment will account for the largest share of this segment.? The market encompasses a wide range of applications across various industries, including the Permian Basin, petrochemicals, petroleum demand, pharmaceuticals, process plants, power generation, pulp & paper, renewable energy, sanitation, water & wastewater treatment, and temperature control. In the Permian Basin, control valves play a crucial role in managing the flow of crude oil and natural gas. The petrochemicals industry relies on control valves for pressure control in refineries and petrochemical plants. Further, the market caters to various industries, including the Permian Basin, petrochemicals, petroleum demand, pharmaceuticals, power generation, pulp & paper, renewable energy, sanitation, water & wastewater treatment, and temperature control. Hence, such factors are fuelling the growth of the segment during the forecast period.
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APAC is estimated to contribute 30% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The petroleum demand and the expansion of the pharmaceuticals industry drive the need for control valves in the production of petroleum products and pharmaceuticals. Control valves are essential in power generation plants for temperature control and pressure management. In the pulp & paper industry, they are used for process control and temperature regulation. Renewable energy and renewable energy projects require control valves for pressure control and temperature regulation in power generation systems. Hence, such factors are driving the market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alfa Laval AB: The company offers control valves such as LKC Non return Valve, LKC UltraPure, and LKUV 2 Air-relief Valve.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Baker Hughes Co., Bray International Inc., Curtiss Wright Corp., DFT Inc., Emerson Electric Co., Flowserve Corp., Goodwin PLC, Honeywell International Inc., IMI Hydronic Engineering Inc., KSB SE and Co. KGaA, Parker Hannifin Corp., SAMSON AG, Schlumberger Ltd., Trillium Flow Technologies, Valmet Corp., Valvitalia SpA, and Watts Water Technologies Inc.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market encompasses the production, sales, and installation of valves utilized for controlling the flow, pressure, and temperature of various fluids in industries. These valves are essential components in process control systems, ensuring efficient and safe industrial operations. Key players in this market include manufacturers and suppliers of control valves, acting as solution providers for industries requiring fluid control solutions. Control valves come in various types, such as ball valves, gate valves, globe valves, and diaphragm valves, each with unique characteristics catering to specific industrial applications. The demand for control valves is driven by the need for process automation and optimization in industries like oil and gas, power generation, water and wastewater treatment, and chemical processing.
Furthermore, the market is expected to grow significantly due to increasing industrialization and urbanization, leading to a higher demand for infrastructure development and improved process control systems. Additionally, the adoption of advanced technologies like IoT and AI in control valve systems is expected to further fuel market growth. Control valves play a crucial role in maintaining process efficiency, ensuring product quality, and minimizing downtime in industrial processes. The market landscape depends on the Wireless infrastructure High number of cycles. The market encompasses the production, sales, and installation of control valves in process plants across various industries. These industries include Pharmaceuticals, Oil & Gas, Energy & Power, and Water & Wastewater Treatment. Control valves are essential components in automation systems, enabling the regulation of flow, pressure, temperature, and level in industrial processes. In the Pharmaceutical industry, control valves are used in chemical treatment processes for feed water and cooling water. As industries continue to evolve and adopt advanced technologies, the demand for control valves is expected to remain strong.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.33% |
Market Growth 2024-2028 |
USD 2.77 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.96 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 30% |
Key countries |
China, US, Russia, India, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alfa Laval AB, Avcon Controls Pvt. Ltd., AVK Holding AS, Baker Hughes Co., Bray International Inc., Curtiss Wright Corp., DFT Inc., Emerson Electric Co., Flowserve Corp., Goodwin PLC, Honeywell International Inc., IMI Hydronic Engineering Inc., KSB SE and Co. KGaA, Parker Hannifin Corp., SAMSON AG, Schlumberger Ltd., Trillium Flow Technologies, Valmet Corp., Valvitalia SpA, and Watts Water Technologies Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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