The global control valves market exhibited moderate growth during 2015-2020.
A control valve is a mechanical device that is used to regulate the flow of a liquid or gas through internal passages. It consists of a pneumatically or electrically operated actuator that is mounted on a valve for modulating the flow. Some of the most common types of control valves include ball, butterfly, plug, gate and diaphragm valves that can automatically adjust the pressure, flow rate, density, temperature and concentration of the product. They are usually integrated with various accessories, such as electro-pneumatic transducers, handwheels, position indicators and limit switches and find extensive applications across multiple industries, including oil and gas, water and wastewater treatment, power, pharmaceutical and chemical.
The continually increasing demand for oil and gas from the industrial, transportation and residential sectors is the primary factor driving the market growth. Furthermore, increasing consumer preference for stainless steel product variants is also providing a boost to the market growth. Control valves further find extensive application in the food and beverage and chemical industries as they aid in minimizing contamination while handling steam, along with exhibiting resistance to abrasion and corrosion, and effective functionality even under high pressure and temperatures. Additionally, various technological advancements, such as the integration of these valves with the Industrial Internet of Things (IIoT) and the development of 3D printed valves, are creating a positive outlook for the market growth. Other factors, including extensive research and development (R&D) undertaken by manufacturers and key industry players to continually launch product variants in accordance with the changing needs of various industries, are expected to drive the market further. Looking forward, the analyst expects the global control valves market to grow at a CAGR of around 5% during 2021-2026.
Breakup by Type: Rotary Valves Ball Valve Butterfly Valves Plug Valves Linear Valves Gate Valves Diaphragm Valves Other Valves
Breakup by Size: Up to 1" >1" to 7" >7" to 25" >25" to 50" >50" and Above
Breakup by Technology: Electric Hydraulic Manual Pneumatic
Breakup by Component: Actuators Valve Body Others
Breakup by Material: Stainless Steel Cast Iron Alloy Based Others
Breakup by End-Use Industry: Oil & Gas Water & Wastewater Treatment Energy & Power Pharmaceutical & Healthcare Chemicals Building & Construction Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined with some of the key players being Burkert Fluid Control Systems, Curtiss-Wright Corporation, Emerson, Flowserve Corporation, Honeywell International, IMI PLC., Kitz Corporation, Samson AG, Spirax Sarco, Valvitalia SpA, Velan Inc., etc.
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