The latest report by IMARC Group, titled “Control Valves Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global control valves market scope. The global control valves market size reached US$ 8.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Control valves are mechanical devices that manage the flow of a gas or liquid through its internal pathways. They comprise three major elements, including the valve, actuator, and controller. They control various factors within a system, such as temperature, pressure, flow, and liquid level. The actuator can be electrically or pneumatically operated and is mounted on the valve. The valve serves as an essential control loop component by modulating the fluid flow to offset any changes in load disturbances. Some commonly available control valve variants include ball, butterfly, plug, gate, and diaphragm valves, which can automatically adjust the pressure, flow rate, density, temperature, and concentration of the product. They are crucial in enhancing the efficiency, safety, and profitability of process industries. As a result, control valves are integrated with accessories, including handwheels, position indicators, limit switches, and electro-pneumatic transducers, in various industries across the globe, such as chemicals, power, pharmaceuticals, oil and gas, and water and wastewater treatment due to their versatility.
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Control Valves Market Trends and Drivers:
The global control valves market is primarily driven by the rising number of oil and gas exploration activities. Moreover, the increasing automation, new pipeline construction, and rising investments in the oil and gas industry have augmented the demand for control valves. Apart from this, there has been a rise in the need for uninterrupted power supply, especially in developing countries where power outages are frequent. In line with this, the establishment of new power generation plants, which rely on a connected network to monitor plant functioning, is positively influencing market growth. Additionally, the escalating demand for renewable energy sources and continual advancements in existing infrastructures have catalyzed market growth. Besides this, several key players are continuously innovating their products and heavily investing in research and development (R&D) projects to develop novel control valves. In addition, the introduction of smart and digital valve positioners integrated with advanced capabilities such as diagnostics and alarm status represent another major growth-inducing factor. Furthermore, the surging adoption of 3D-printed valves and increasing investments in fluid handling technology by the nuclear and pharmaceutical sectors are contributing to market growth. Along with this, numerous technological advancements, such as the large-scale integration of control valves with the Industrial Internet of Things (IIoT) and the development of 3D-printed valves, are propelling the market growth. Other factors, including rising production of healthcare devices, increasing applications of control valves in the food & beverage and chemical industries to minimize contamination while handling steam, ongoing R&D activities in the pharma sector, and rapid industrialization, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Rotary Valves
- Ball Valve
- Butterfly Valves
- Plug Valves
- Linear Valves
- Gate Valves
- Diaphragm Valves
- Other Valves
Breakup by Size:
- Up to 1″
- >1″ to 7″
- >7″ to 25″
- >25″ to 50″
- >50″ and Above
Breakup by Technology:
- Electric
- Hydraulic
- Manual
- Pneumatic
Breakup by Component:
- Actuators
- Valve Body
- Others
Breakup by Material:
- Stainless Steel
- Cast Iron
- Alloy Based
- Others
Breakup by End-Use Industry:
- Oil & Gas
- Water & Wastewater Treatment
- Energy & Power
- Pharmaceutical & Healthcare
- Chemicals
- Building & Construction
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Christian Bürkert GmbH & Co. KG
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flowserve Corporation
- Honeywell International Inc.
- IMI plc, KITZ Corporation
- SAMSON AG
- Spirax-Sarco Engineering plc
- Valvitalia SpA, Velan Inc.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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