Valves which are used to control pressure, temperature and level of liquid are called control valves. It is widely used in industries where the flow and level are required to be maintained. Control valves open or close responding to the process variable defined for its operation by means of electric and pneumatic actuators.
The major factors which are driving the control valves market includes: growing investment in the oil & gas sector. This automatically creates demand for control valves, as they find application right from the extraction of crude oil/gas till it reaches the end customers via refinery and oil terminals/depots. Emerging economies like China and India are also increasing their hydrocarbon investment which is again boosting the demand for control valves.
But, despite the growing demand for control valves globally, the challenge is of setting up an efficient system of logistics and supply. Another challenge faced by the global valves manufacturing companies is to evolve with time and cope up with changing requirements of their clients by innovating control valves.
Immense opportunities exist in emerging economies like India and China which are boosting their investment in hydrocarbons in order to cater to the growing demand for fuel.
The global control valves market is estimated to be close to USD 6.34 billion in 2012 which is expected to reach a level of USD 10 billion by 2018, at a CAGR of 6.02%, from 2013 to 2018 owing to strong demand of control valves used in petroleum, petrochemicals and chemicals industries.
The North America and Europe control valves markets are considered as mature market and so they are expected to grow at a low rate. Middle East being one of major supplier and producer of oil & gas will drive the market for control valves in the next decade.
This report will segment the control valves by geography as: North America, Europe, Asia Pacific and Row and by types as:
- Sliding stem control valves
- Rotating shaft control valves
This market research report analyzes important market segments, and major geographies. This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides an overview of the pricing trend and its impact on the market