Control Valves Market Size, Share, Growth, Trends and Industry Analysis Report, 2018 to 2025
by Susan Hill Business ConsultantThe global control valves market size is expected to reach USD
11.85 billion by 2025, according to a study conducted by Grand View Research,
Inc., rising at a CAGR of 6.50% during the forecast period. Surging demand from
industrial sectors such as energy & power, water & wastewater
treatment, and oil & gas industry and growing adoption of industrial
automation propelling the smart control valves market are fueling the demand
for control valves. Additionally, rising demand for control valves in the
pharmaceutical and food & beverages industries is expected to drive the
market.
Increasing adoption of control valves is rising
continuously owing to the benefits they offer in controlling temperature and
pressure throughout the downstream, midstream, and upstream activities.
Therefore, growing oil & gas exploration activities are triggering the
demand for control valves.
Control valves offer various benefits of installing
modernized and sophisticated fluid handling systems. In the pharmaceutical
industry, there is a rising demand for fluid handling systems, owing to safety
procedures in order to manufacture a hygienic and safe product. These
sophisticated fluid handling mechanisms are helpful in speeding up
manufacturing process, thus ensuring optimal performance. Moreover, the food
& beverages industry utilizes control valves to speed up manufacturing
process and ensure hygiene of end products such as packaged food.
Surging demand for packaged food is augmenting the
control valves market growth. This is due to application of flow control
devices with suitable control valve design and technology for improved quality
of end product.
Asia Pacific is expected to dominate the market
owing to increasing demand from the energy & power and water & waste
water industries. These industries are investing heavily to automate their flow
control processes, so as to increase up the production efficiency and
simultaneously reduce error ratio. Furthermore, expanding production of oil
sands and shale gas in North America and rising oil & gas exploration
activities in regions such as Middle East and Africa, and Asia Pacific are
accelerating the demand for control valves over the forecast period.
Further
key findings from the study suggest:
- The actuator segment is expected to dominate the control valves
market throughout the forecast period owing to significant cost as
compared to valve body and other components.
- The market for control valves with size ranging from 1” to 6” is
expected to dominate throughout the forecast period owing to its wide
demand across the food & beverages, pharmaceutical, energy &
power, and chemical industries.
- Asia Pacific is expected to be the most prominent region over the
forecast period owing to increasing demand from industries such as oil
& gas, water & wastewater, and energy & power in emerging
economies such as China and India.
- Prominent industry participants include Emerson Electric Co.,
Flowserve Corporation, IMI plc, Schlumberger Limited, and AVK Holding A/S.
Access full research report on global control valves market @ www.grandviewresearch.com/industry-analysis/control-valves-market
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Created on Mar 3rd 2020 08:37. Viewed 371 times.