The Global Control Valve Market size is expected to reach $7.8 billion by 2026, rising at a market growth of 7.8% CAGR during the forecast period. Control valves are utilized to control process variables like pressure, temperature, flow, and fluid level in process industries that include chemicals, power generation, automotive, mining, oil & gas, water management, pharmaceuticals, and food & beverages. Control valves are capable of enhancing the safety, efficiency, and profitability of these process industries. Moreover, companies that manufacture control valves are consistently involved in research and development initiatives to create their products as per the emerging and changing trends in different industries.
The growth of the market is encouraged by the growing demand for valves from pharmaceuticals and healthcare industries due to the COVID-19 pandemic, increasing demand for energy in APAC, rising need for connected networks to support and observe industrial equipment. Moreover, rising attention on setting-up new nuclear power plants and enhancing the existing ones are also propelling the control value market.
The increasing need for automation in the process industry is anticipated to push the growth of the control valve market significantly. Moreover, a rise in investments in the oil & gas industry and pharmaceutical infrastructure is estimated to fuel the growth of the control valve market. For example, India invested heavily in oil & gas exploration and is establishing natural gas infrastructure to fulfill oil & gas needs. Additionally, the control valve market is propelled by the demand for control valves in the food & beverages industry. For example, as per the India Brand Equity Foundation (IBEF), the food & beverages processing industry has become a high-growth and high-profit sector, due to its massive growth potential.
Based on Type, the market is segmented into Linear and Rotary. Rotary control valves are anticipated to showcase promising growth during the forecast period. Rotary valves are less vulnerable to clogging in dirty service applications, and with the help of stem packing, emissions can be regulated easily, without using expensive bellows seals. Further, the smaller size and lightweight rotary valves push the consistently rising demand for these valves.
Based on Operation, the market is segmented into Pneumatic Control Valve, Hydraulic Control Valve and Electrical Control Valve. The pneumatic control valve segment is estimated to obtain the largest revenue share in 2019. A surge in requirements for automation in the process industry is anticipated to encourage growth for the control valve market. Moreover, increasing investments in the oil & gas industry and pharmaceutical infrastructure is expected to fuel the growth of the control valve market.
Based on Industry Vertical, the market is segmented into Water & Wastewater, Mining, Pharmaceuticals, Food & Beverages, Government & Defense, Oil & Gas, Chemicals and Others. The oil & gas industry showcases significant growth opportunities during the forecast period, owing to the increasing energy demand and rising drilling activities in the Gulf Cooperation Council (GCC) countries. On the other hand, currently, the world is grappling with an economic and financial crisis due to the outbreak of the COVID-19 pandemic.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 5.1 Billion |
| Market size forecast in 2026 | USD 7.8 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 7.8% from 2020 to 2026 |
| Number of Pages | 228 |
| Number of Tables | 390 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Operation, Industry Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Control Valve Market to reach a market size of $7.8 billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is expected to maintain the highest growth rate in the control valve market during the forecast period. Various key players in the control valve market are located in this region. Moreover, growing R&D activities in the region regarding the use of valves in automation and the increasing demand for safety applications are the two major factors boosting market development in North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V. (Cameron International Corporation), Flowserve Corporation, Alfa Laval AB, Crane Co., Kitz Corporation, Neway Valve Co., Ltd., Velan, Inc., Avcon Controls Pvt. Ltd. and Dwyer Instruments, Inc.
By Type
By Operation
By Industry Vertical
By Geography
Companies Profiled
The global control valve market size is expected to reach $7.8 billion by 2026.
The major factors that are anticipated to drive the control valve industry include pharmaceuticals and healthcare industries have witnessed an increasing demand for valves due to the covid-19 pandemic.
The Asia Pacific market dominated the Global Control Valve Market by Region 2019.
Emerson Electric Co., Schlumberger N.V. (Cameron International Corporation), Flowserve Corporation, Alfa Laval AB, Crane Co., Kitz Corporation, Neway Valve Co., Ltd., Velan, Inc., Avcon Controls Pvt. Ltd. and Dwyer Instruments, Inc.
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