Global Control Valve Market Size, Share, Growth Analysis, By Motion(Linear, Rotary), By Component(Valve Body, Actuators), By End-Use(Oil & Gas, Water & Wastewater) - Industry Forecast 2024-2031

Report ID: SQMIG20I2153 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 79

Global Control Valve Market Dynamics

Control Valve Market Driver

The pharmaceutical and healthcare sectors are leading the fight against the pandemic due of COVID-19's rapid spread. The manufacture of vital medical equipment that is needed to heal COVID-19 patients is increasing. Control valves play a significant part in the production of many medical equipment, and numerous big industrial firms have seized the chance to help battle the epidemic. Companies in the control valve market are spending more money on research and development for automatic parts that are used in the pharmaceutical industry, like solenoid valves. The development of complex fluid handling systems by pharmaceutical industries, such as liquid soap dispensers and automatic sanitizer dispensers, is also driving the demand for valves. Thus, the market for control valves is developing as a result of rising healthcare device production and rising R&D expenditures in the pharmaceutical industry.

Control Valve Market Restraint

Manufacturers of valves must abide by a number of standards and laws. Regarding valves, several locations have distinct certifications and regulations. Due to the vast range of industries where valves are used, including oil and gas, food and beverage, pharmaceuticals, energy and electricity, water and wastewater treatment, building and construction, chemicals, and pulp and paper, this factor leads to diversity in demand. Due to the need for industry participants to modify the same product in accordance with regional rules, which makes it challenging for the valve makers to attain an optimal cost of installation, such diversity is, however, impeding the growth of the valves market. To fix this issue, they have to invest their resources in opening up manufacturing plants across the world, thereby requiring additional capital.

Global Control Valve Market Report Snapshots

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Global Control Valve Market size was valued at USD 6.65 billion in 2019 and is poised to grow from USD 7.13billion in 2023 to USD 12.44 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

Crane Co., Alfa Laval Corporate AB, Emerson Electric Co., Flowserve Corporation, Schlumberger Ltd, Metso Corporation, KSB SE & Co. KGaA, KITZ Corporation, Samson Aktiengesellschaft, and Velan Inc. are some of the leading players in the global control valve market. To expand their reach and maintain fierce rivalry in the control valve market, the top companies present on the international control valve market have used crucial strategies including product launches. For instance, the new Alfa ThinkTop V50 and V70 valves were introduced by Alfa Laval Corporate AB. The dairy, food, beverage, and pharmaceutical industries are its best fit. It has attributes like being simple to set up and trustworthy. It can rotate 360 degrees and provides 24-hour support. It can reduce the price of cleaning agents by 90%. 'Emerson Electric Co.', 'Flowserve Corporation', 'General Electric Company', 'IMI plc', 'Crane Co.', 'Honeywell International Inc.', 'Schlumberger Limited', 'Spirax-Sarco Engineering plc', 'Velan Inc.', 'Weir Group plc', 'Alfa Laval AB', 'Burkert Fluid Control Systems', 'Cameron International Corporation (a Schlumberger company)', 'Curtiss-Wright Corporation', 'Hitachi, Ltd.', 'Metso Corporation', 'Neway Valve (Suzhou) Co., Ltd.', 'Rotork plc', 'Samson AG', 'Watts Water Technologies, Inc.', 'In July 2022, A leading provider of software and technology solutions in the global control valve market joined RE100, a global campaign uniting companies dedicated to using only renewable energy sources for electricity. The newest stage in Emerson's strategy to get 100 percent renewable electricity by 2030 is its affiliation with other sustainability trailblazers in the initiative led by Climate Group, in collaboration with CDP.', 'In September 2021, One of the key participants in the industry, Burkert, announced the release of a revolutionary, long-lasting on/off control valve for switching and controlling steam, liquids, and gases in the food and process sectors. The valve requires little maintenance. Up to 25 bar of media pressure has been appropriate and acceptable for these industries. The business had been providing a wide selection of pneumatically and electrically driven on/off motors and control valves for a variety of applications.', 'In September 2021, Genesis Systems, a significant distributor of control valves, was bought by FlowWorks, according to an announcement. According to the corporation, its clients and consumers will gain access to a wide selection of items as a result of this transaction. In the past, Clearlake Capital Group L.P. had supported FloWorks.'

The pharmaceutical and healthcare sectors are leading the fight against the pandemic due of COVID-19's rapid spread. The manufacture of vital medical equipment that is needed to heal COVID-19 patients is increasing. Control valves play a significant part in the production of many medical equipment, and numerous big industrial firms have seized the chance to help battle the epidemic. Companies in the control valve market are spending more money on research and development for automatic parts that are used in the pharmaceutical industry, like solenoid valves. The development of complex fluid handling systems by pharmaceutical industries, such as liquid soap dispensers and automatic sanitizer dispensers, is also driving the demand for valves. Thus, the market for control valves is developing as a result of rising healthcare device production and rising R&D expenditures in the pharmaceutical industry.

The pharmaceutical industry's producers have been able to improve their manufacturing capacities by lowering the overall cost of equipment ownership, increasing equipment uptime, and minimising maintenance expenses thanks to developments in sensor and valve technology.

North America to dominate global control valve market throughout the forecast period. Many of the main control valve producers are based in this area. Growing R&D efforts in the field of valve usage in automation and the rising demand for safety applications are other factors boosting this market's growth in North America. R&D at the industrial level is expanding the application areas for valves, particularly in the US, in several industries, including energy & power, chemicals, and others. Control valves are used to start, halt, or throttle media flow as well as to assure secure and efficient process automation in the energy and power, water and wastewater treatment, and oil and gas industries. The market for control valves has the second-strongest development potential in the APAC region. This has primarily been caused by increased investments in energy and electricity in the control valve market. The building industry has benefited from faster economic growth as well. This is especially true in China and India. Both nations have made large expenditures in control valve technology to improve their pharmaceutical, energy, power, and food and beverage industries. However, there has been a lot of investment and growth in other sectors.

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Global Control Valve Market Size, Share, Growth Analysis, By Motion(Linear, Rotary), By Component(Valve Body, Actuators), By End-Use(Oil & Gas, Water & Wastewater) - Industry Forecast 2024-2031

Global Control Valve Market Dynamics

Global Control Valve Market Report Snapshots

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