LOS ANGELES, May 22, 2020 /PRNewswire/ -- Acumen Research and Consulting, Recently Published Report on "Control Valves Market Size, Share, Growth, Trends, Revenue and Forecast 2020 - 2027".
The control valves are known to be one of the most robust components to different industries of production and manufacturing. Characteristics such as effective flow rate management and consequential process quantities like temperature, pressure and fluid volume make them necessary to smoothly hold industrial processes. Across industries like oil and gas, power generation, food and drinks, industrial and automotive products, and other applications, control valves are commonly used. Across the process industry, control valves play a key role to increase process stability, productivity and competitiveness, and this is an awareness of the value of control valve. In order to fulfill the increasing demands of various markets, research and development initiatives by the manufacturers of control valves have become more relevant.
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Asia-Pacific to Have Significant Market Growth
Asia Pacific accounts for a significant market share of control valves due to increased urbanization and also increasing middle-class population which has fuelled the adoption of electricity, oil & gas, and chemical industries. For instance, China, Japan and India are the developing countries in the region. Moreover, the market for oil and gas is projected to rise rapidly with the growth of transportation in these countries. The need to provide the increasing population with drinking water also contributes to the development of desalination plants which further demands for control valves, treatment of waste and wastewater is also a wide segment projected to increase demand for the future.
The major factor driving the demand for control valves are growing need for energy and power, and increasing number of power generation plants across the world. These valves are particularly used in systems like chemical storage, feeding water, cooling water and steam turbine control systems in nuclear power plants. In addition, the need for control valves has also increased under the high pressures, high temperatures and adverse corrosion of manufacturing platforms and refining platforms. These platforms are used mainly for oil and gas production offshore and onshore. These valves are used in most significant oil and gas systems. It can also control flow, and regulated by fluid quantity, direction, speed and pressure.
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Oil & Gas to account the largest share of the control valve market during the forecast period
The oil & gas industry is one of the most active industries in multiple processes for the adoption of control valves. Across the industrial revolution, demand for oil and gas expanded tremendously to support the expansion of western economies. In addition to lower production costs, the oil & gas companies require deeper wells and wider pipelines and require the use of advanced machinery in gas and chemical plants. As transportation, technologies, production and processing equipment has advanced performance standards for efficiency which are constantly being demanded in order to improve operations. Control valves must be mounted in manufacturing plants to satisfy these requirements, thereby pushing the development of the control valve industry.
The global control valves market includes prominent players such as AVK Holding A/S, Emerson Electric Co., Christian Bürkert GmbH & Co. KG, General Electric Company, Goodwin International Limited, KITZ Corporation, Rotork Plc, Velan Inc., Swagelok Company, Armstrong International Inc., Metso Corporation, IMI plc, Samson AG and others.
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- In February 2019, Emerson announced it had completed the acquisition of General Electric's Intelligent Systems. The implementation of programmable Intelligent Platforms (PLC) technologies will allow the company Emerson to extend its system control and discerning systems capabilities, a global automation leader for process and industrial customers.
- In December 2018, Advanced Technology Valves (AE Valved), an advanced valve technology leading supplier that allows LNG customers to function easier, has been acquired by Emerson.
- In June 2019, Metso to adopt modern Valve World Americas flow management techniques
- Distributors and Retailers
- Manufacturers Control Valve Market
- Technology Standards Organizations, Forums, Alliances and Associations
- Research and Consulting organization
- Accessories manufacturer
Control Valves Market By Type
- Pneumatic control valve
- Hydraulic control valve
- Electrical control valve
Control Valves Market By Component
- Valve body
Control Valves Market By Product
Control Valves Market By Material
- Stainless Steel
- Cast Iron
- Alloy Based
Control Valves Market By Application
- Electrical Power, Oil and Gas
- Water &Waste-water Management
- Automotive, Pharmaceuticals
- Mining, Chemicals
- Food & Beverage
- Others (manufacturing, electronics, marine, pulp & paper, and textiles)
Control Valves Market By Geography
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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