The global control valves market size
is expected to reach USD 11.85 billion by 2025, according to a study conducted
by Grand View Research, Inc., rising at a CAGR of 6.50% during the forecast
period. Surging demand from industrial sectors such as energy & power,
water & wastewater treatment, and oil & gas industry and growing
adoption of industrial automation propelling the smart control valves market
are fueling the demand for control valves. Additionally, rising demand for
control valves in the pharmaceutical and food & beverages industries is
expected to drive the market.
Increasing adoption of control valves is
rising continuously owing to the benefits they offer in controlling temperature
and pressure throughout the downstream, midstream, and upstream activities.
Therefore, growing oil & gas exploration activities are triggering the
demand for control valves.
Control valves offer various benefits of
installing modernized and sophisticated fluid handling systems. In the
pharmaceutical industry, there is a rising demand for fluid handling systems,
owing to safety procedures in order to manufacture a hygienic and safe product.
These sophisticated fluid handling mechanisms are helpful in speeding up
manufacturing process, thus ensuring optimal performance. Moreover, the food
& beverages industry utilizes control valves to speed up manufacturing
process and ensure hygiene of end products such as packaged food.
Surging demand for packaged food is
augmenting the control valves market growth. This is due to application of flow
control devices with suitable control valve design and technology for improved
quality of end product.
Asia Pacific is expected to dominate the
market owing to increasing demand from the energy & power and water &
waste water industries. These industries are investing heavily to automate
their flow control processes, so as to increase up the production efficiency
and simultaneously reduce error ratio. Furthermore, expanding production of oil
sands and shale gas in North America and rising oil & gas exploration
activities in regions such as Middle East and Africa, and Asia Pacific are
accelerating the demand for control valves over the forecast period.
Further key findings from the study suggest:
· The actuator segment is expected to
dominate the control valves market throughout the forecast period owing to
significant cost as compared to valve body and other components
· The market for control valves with size
ranging from 1” to 6” is expected to dominate throughout the forecast period
owing to its wide demand across the food & beverages, pharmaceutical,
energy & power, and chemical industries.
· Asia Pacific is expected to be the most
prominent region over the forecast period owing to increasing demand from
industries such as oil & gas, water & wastewater, and energy &
power in emerging economies such as China and India.
· Prominent industry participants include
Emerson Electric Co., Flowserve Corporation, IMI plc, Schlumberger Limited, and
AVK Holding A/S.
Grand View Research has segmented the
global control valves market based on component, size, product, end use, and
region:
Control Valves Component Type (Revenue, USD
Million, 2015 - 2025)
·
Valve body
·
Actuators
·
Others
Control Valves Size Type (Revenue, USD
Million, 2015 - 2025)
·
Less than 1”
·
Between 1” to 6”
·
Between 6” to 25”
·
Between 25” to 50”
·
More than 50”
Control Valves Product Type (Revenue, USD
Million, 2015 - 2025)
·
Linear
o
Gate
o
Diaphragm
o
Others
·
Rotary
o
Ball
o
Butterfly
o
Plug
Control Valves End Use Outlook (Revenue,
USD Million, 2015 - 2025)
·
Oil & Gas
·
Chemical
·
Energy & Power
·
Water & Wastewater
·
Food & Beverage
·
Pharmaceutical
·
Others (manufacturing, electronics, marine,
pulp & paper, and textiles)
Control Valves Regional Outlook (Revenue,
USD Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Spain
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Singapore
o
Australia
·
South America
o
Brazil
o
Argentina
·
Middle East & Africa
o
Saudi Arabia
o
United Arab Emirates (U.A.E.)
o
South Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment