Product Code: 52737
The control valve market was valued at USD 10.12 billion in 2020 and expected to reach USD 12.19 billion by 2026 and grow at a CAGR of 3.67% over the forecast period (2021 - 2026). The increase in investment for pipeline and infrastructural development, in the recent past, is expected to augment the demand for control valves over the forecast period.
- Major industries, such as oil and gas, and pharmaceuticals, are moving toward valve technology with embedded processors and networking capability to work alongside sophisticated monitoring technology coordinated through a central control station.
- Moreover, the thrust on renewable energy projects due to the rapidly growing number of solar thermal energy plants have increased the application areas of control valves.
- The expansion of the power infrastructure by the United States and the availability of natural gas is also expected to result in the construction of several new combined cycle gas turbine (CCGT) plants. This is anticipated to drive the market growth during the forecast period.
Key Market Trends
Pharmaceutical Sector to hold the Major Share
- Advancements in sensor and valve technology have enabled manufacturers in the pharmaceutical industry to advance their manufacturing capabilities by reducing the overall cost of equipment ownership, maximizing uptime, and lowering maintenance costs.
- In control valves, the actuator can fully rotate the actuator head by 360° enables flexible installation and optimizes air-port alignment. This, in turn, reduces overall installation cost for both new and existing projects and optimizes the incorporation of actuators in compact valve arrays in manufacturing processes.
- The implementation of new technologies by pharmaceutical manufacturers has aided the control valve industry to create new accessories that, in conjunction with aseptic valves offer high levels of control, complete and accurate status of a valve.
Asia-Pacific to Have Significant Market Growth
- The growing population increased urbanization, and the expanding middle-class population in the Asia-Pacific region has propelled the demand for oil and gas, electricity, and chemicals industries, for instance in China, India, Japan, and other emerging nations in the region.
- Moreover, rapid industrialization and the growing transportation sector in these nations is expected to increase the demand for oil and gas. The need to provide potable water to the growing population in also leads to the setting up of desalination plants, further resulting in demand for control valves. Waste and wastewater management is also a huge segment that is expected to drive future demand.
The control valve market is moderately competitive and consists of a few major players. With the growing demand for control valve, many new companies are increasing their market presence thereby tapping customers across the emerging economies.
- February 2019 - Rockwell Automation, the world's largest company dedicated to industrial automation and information, and Schlumberger, the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry, announced that they have entered into an agreement to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider.
- May 2018 - Flowserve Corporation announced that it completed the sale of its Gestra AG business unit to Spirax-Sarco Engineering plc, a leading provider of steam system solutions. The sale is part of an ongoing effort by Flowserve to better align and optimize its product portfolio and manufacturing footprint, focusing on core business objectives that will allow the company to be more competitive when key industry markets return.
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TABLE OF CONTENTS
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Increasing Demand for the Oil and Gas Industry
- 4.3.2 Inclination of Growth toward Energy and Automation
- 4.3.3 Government Initiatives toward Renewable Energy
- 4.4 Market Restraints
- 4.4.1 Intense Competition in the Marketspace
- 4.4.2 High Initial Capital Investment
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Design
- 5.1.1 Globe Valve
- 5.1.2 Ball Valve
- 5.1.3 Butterfly Valve
- 5.1.4 Angle Valve
- 5.1.5 Diaphragm Valve
- 5.1.6 Other Designs
- 5.2 By End-user Industry
- 5.2.1 Oil and Gas
- 5.2.2 Chemicals
- 5.2.3 Energy and Power
- 5.2.4 Pharmaceuticals
- 5.2.5 Food and Beverage
- 5.2.6 Other End-user Industries
- 5.3 Geography
- 5.3.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 5.3.2 Europe
- 22.214.171.124 United Kingdom
- 126.96.36.199 Germany
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Rest of Europe
- 5.3.3 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 Japan
- 126.96.36.199 South Korea
- 188.8.131.52 India
- 184.108.40.206 Rest of Asia-Pacific
- 5.3.4 Latin America
- 220.127.116.11 Mexico
- 18.104.22.168 Rest of Latin America
- 5.3.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Schlumberger Limited
- 6.1.2 Crane Company
- 6.1.3 Emerson Electric Co.
- 6.1.4 Flowserve Corporation
- 6.1.5 General Electric Company
- 6.1.6 IMI PLC
- 6.1.7 Honeywell Corporation Inc.
- 6.1.8 Metso Oyj
- 6.1.9 Samson AG
- 6.1.10 Pentair PLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS