DUBLIN, Oct. 21, 2019 /PRNewswire/ -- The "Control Valve Market by Material, Component (Actuators, Valve Body), Valve Size, Valve Type (Rotary and Linear), Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The control valve market is estimated to grow from USD 8.0 billion in 2019 to USD 11.3 billion by 2025, at a CAGR of 5.9% during the forecast period.
Burkert Fluid Control Systems, Emerson, Flowserve, IMI plc., Curtiss Wright, Trillium Flow Technologies, Cameron - Schlumberger, Spirax Sarco, Crane Co., KITZ Corporation are among the major players in the control valve market.
Rising demand for energy in APAC, increasing adoption of valves in oil and gas production-related firms in GCC countries, growing need for the connected network to maintain and monitor various equipment in plants, and surging focus on establishing new nuclear plants and upscaling of existing ones are the key driving factors for the control valve market.
Use of 3D printing in manufacturing valves, the introduction of IIoT & industry 4.0, the need for replacement, adoption of smart valves, and the focus of valve manufacturers to offer improved customer service are among the other factors fueling the growth of the control valve market. However, high fabrication costs and a rise in collaboration among industry players can hinder the growth of the control valve market.
Actuators to account for the largest market size from 2019 to 2025
The control valve market, based on components, has been segmented into the valve body, actuators, and others (IPC connectors and positioners). Actuators are expected to account for the largest share of the control valve market during the forecast period. This can be attributed to the increasing use of actuators in the oil & gas, energy & power, metals & mining industries; actuators are installed in industrial locations that are not easily accessible by humans, and actuators can provide uninterrupted and reliable services during the operation of the valves.
Rotary control valves to account for the largest market size during the forecast period
Rotary control valves are expected to hold a larger share of the control valve market during the forecast period. Rotary valves are less prone to clogging in dirty service applications, and through the stem packing, emissions can be controlled effortlessly, without using costly bellows seals. Moreover, lighter weight and smaller size of rotary valves contribute to the continually increasing demand for these valves.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to record the highest growth rate during the forecast period. Rapid population growth and urbanization in developing economies, such as China, Japan, South Korea, and India have prompted speedy development of several industries, such as energy & power, water & wastewater treatment, construction, chemicals, pharmaceuticals, and oil & gas, which, in turn, will upsurge the demand for control valves.
- Rising Demand for Energy in APAC
- Increasing Adoption of Valves By Oil and Gas Production-Related Firms in Gcc Countries
- Growing Need for Connected Networks to Maintain and Monitor Various Equipment in Plants
- Surging Focus on Establishing New Nuclear Power Plants and Upscaling of Existing Ones
- Lack of Standardized Certifications and Government Policies
- Use of 3D Printing in Manufacturing Valves
- Introduction of Iiot and Industry 4.0
- Need for Valve Replacement and Adoption of Smart Valves
- Focus of Valve Manufacturers to Offer Improved Customer Services
- High Fabrication Cost
- Rise in Collaboration Among Industry Players
- Unplanned Downtime Due to Malfunctioning Or Failure of Valves
- Burkert Fluid Control Systems
- Flowserve Corporation
- IMI PLC.
- Curtiss-Wright Corporation
- Trillium Flow Technologies (Weir Flow Control)
- Cameron - (Schlumberger Company)
- Spirax Sarco
- Crane Co.
- Kitz Corporation
Other Important Players
- Samson Controls
- Metso Corporation
- Neway Valve Co.
- Alfa Laval
- Velan Inc.
- AVK Holding A/S
- Avcon Controls
- Dwyer Instruments
- Apollo Valves
For more information about this report visit https://www.researchandmarkets.com/r/suho4z
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