The increasing demand from the process industries such as oil & gas, chemical, pharmaceuticals, and others will proliferate the growth of the control valve market over the forecast period.
The global Control valve market was valued at US $5.5 Bn in 2020 and expected to reach US $13.93 Bn by 2027 and is expanding at a CAGR of 14.20% during the forecast period
Control valve manufacturers are focused on offering a required set of components across the pharmaceutical industry value chain and spending on R&D activities. Similarly, pharmaceutical companies are looking to develop sophisticated fluid handling systems, such as automatic sanitizer dispensers and liquid soap dispensers, which, in turn, are creating the need for valves. Thus, the growing production of healthcare devices and increasing R&D investments in the pharmaceuticals sector will positively influence the market growth.
Moreover, the growing number of oil & gas exploration activities in regions such as the Middle East & Africa, China, and North America is expected to boost the demand for control valves in coming years. For instance, the second-largest offshore oil field in the world is operated by the Zakum Development Company (ZADCO) – a joint venture of Abu Dhabi National Oil Company (ADNOC), ExxonMobil, and the Japan Oil Development Company (Jodco). The field is located off the coast of Abu Dhabi and is estimated to hold around 50 billion barrels of oil equivalent.
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Points Covered in this report are:
To share detailed information about the key factors such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors, etc.
To study and analyze the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Players covered in the Control Valve Market report is:
- Christian Burkert
- Emerson Electric Co.
- Flowserve Corporation
- Schlumberger Limited
- IMI
- Neles Corporation
- Crane Co.
- SAMSON USA
- KITZ Corporatio
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By End User :
- Oil & Gas
- Water & Wastewater Treatment
- Energy & Power
- Pharmaceuticals
- Food & Beverages
- Chemicals
- Building & Construction
- Paper & Pulp
By Type:
- Rotary Valves
- Linear Valve
Control Valve Market by Region Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
In terms of geography, The Asia Pacific region is expected to grow at a rapid pace owing to the presence of abundant natural resources like minerals, ores, among others, in countries like China, India, Australia, Malaysia, and other Asian countries. These countries carry out mining and construction activities to extract natural resources in the region. The construction industry of the region has started adopting Control Valves for site inspection and for speeding up construction activities on site.
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Key Findings:
- Based on type, the rotary valve segment accounted for the largest market share in 2019
- Based on the end-user, the oil & gas industry accounted for the leading share in the market and will maintain its position throughout the forecast period (2020-2027)
- Based on regions, the North American region accounted for the largest share in terms of revenue and is projected to grow at a CAGR of 5.5% over the forecast period.
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