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Published Date: 2016-09-28Number of Pages: 138

Control Valves Market (Actuation Technology - Manual Control Valves, Pneumatic Control Valves, Hydraulic Control Valves, and Electric Control Valves; Type - Ball Valves, Butterfly Valves, Globe Valves, and Cryogenic Valves; End-Use Industry - Power Generation, Oil & Gas, Chemicals, Food and Beverages, Automotive, Pharmaceutical, and Wastewater Management) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Control Valves Market: Snapshot 

The market for control valves is primarily driven by the increase in energy consumption, coupled with the increasing demand for the same in process industries such as oil and gas. The demand for control valves is expected to rise as a result of the increase in investments in industrial infrastructure projects around the world, particularly in developing countries such as India, China, and Indonesia. The rise in pipeline installations across different countries is also expected to boost the demand for control valves in the coming years.

In terms of revenue, the global control valves market was valued at US$8.92 bn in 2015 and is expected to reach US$15.41 bn by 2024. If these values hold true, the market is projected to expand at a 6.3% CAGR during the forecast period. The volume of the global control valves market is forecast to rise at a 5.9% CAGR from 2016 to 2024.

Butterfly Control Valves Emerge as Leading Segment by Type

On the basis of actuation technology, the control valves market was led by pneumatic control valves. The electric control valves segment is also a major contributor to the growth of this market and accounted for a share of over 20% in the global market in terms of both revenue and volume in 2015. This segment is driven by its increasing usage in the power generation, automotive, petrochemicals, and chemicals industries. Several companies are switching from pneumatic to electric control valves owing to the fact that the latter offers better efficiency in terms of cost as well as time.

By type, the market comprises ball valves, butterfly valves, cryogenic valves, globe valves, and others. Butterfly control valves led the market and find application in reverse osmosis, brine flow control, steam systems, desalination systems, petroleum production, and refining. The butterfly control valves segment is expected to continue its dominance through 2024.

control valves market

Increasing Demand for Control Valves from Industry Verticals across APAC

In 2015, Asia Pacific held the leading share in the global control valves market on the basis of geography, accounting for more than 40% of the market. This market is primarily driven by factors such as increasing investments in various industry verticals, the rapid development of industrial infrastructure, and the growing demand in the semiconductor and electronics manufacturing industries as well as the processed food industry.

The control valves market in North America has been witnessing sluggish growth due to stagnant growth rates of most industry verticals in the region. However, the oil and gas, power generation, and wastewater management industries in North America are anticipated to expand in the near future due to above-average financial and technological investments from major players in respective sectors. This is likely to improve the prospects of the control valves market in North America. The increasing demand for energy has led to an expansion in the extraction of shale in the region and this is also anticipated to boost this market.

The growing demand for control valves from different industry verticals such as oil and gas, chemicals, and power generation has led to the growth of the control valves market in several RoW countries.

Some of the leading players in the control valves market are Flowserve Corporation (U.S.), Pentair PLC (U.K.), Emerson Electric Co. (U.S.), General Electric (U.S.), Samson AG (Germany), Crane & Co. (U.S.), VelanInc (Canada), Metso Corporation (Finland), and IMI Plc (U.K.).

Control Valves Market: Trends and Opportunities

Control valves are types of valves which are used to control conditions such as temperature, flow, liquid level and pressure by fully or partially closing or opening in response to the signals received from the controllers. Control valves are used in various industries such as oil and gas, wastewater management, automotive, pharmaceuticals, mining, chemicals, and food and beverages, among others. In terms of product type, the control valves market has been segmented into manual control valves, pneumatic control valves, hydraulic control valves and electric control valves. The market for control valves is primarily driven by the increase in energy consumption, coupled with increasing demand from process industries such as oil and gas. 

The market for control valves is primarily driven by oil and gas industry due to their application throughout upstream, midstream and downstream activities. While demand for oil and gas products is increasing at significant rates, supply for the same industry is dwindling due to the global decrease in oil and gas reserves. Moreover, increasing application of control valves in the food and beverage industry is one of the major driving factors for the growth of the control valves market. In the food and beverages industry, control valves are used in verticals such as the dairy industry, oils and fats industry, and animal feed industry.

As per recent trends, it has been observed that there has been increasing demand for control valves from industries such as pharmaceuticals, power generation, and food and beverages. There has been increasing emphasis on designing and manufacturing control valves that do not need periodic maintenance. Due to recent developments in the area of electric control valves, demand for the same has increased drastically in the recent past. Electric control valves are more efficient and enable a greater level of control as compared to the other types of valves. Furthermore, it has also been observed that low cost control valves being produced by the Asian companies are penetrating existing control valves markets for established big players such as Metso, Flowserve and Velan among others. As the regulations regarding environment pollution are expected to become stringent, the demand for control valves that have low environmental impact is expected to be high in the near future.

Control Valves Market: Segmentation

The report segments the market on the basis of geography into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), estimated in terms of revenue (USD billion). The report also segments the market based on actuation technology into manual control valves, pneumatic control valves, hydraulic control valves and electric control valves. Based on type, the control valves market is further segmented into ball valve, butterfly valve, cryogenic valve, globe valve and others. Moreover the global control valves market has been further segmented by end user industry, which includes: power generation, chemical, oil and gas, food & beverage, pharmaceuticals, automotive, wastewater management and others. All these segments have also been estimated in terms of revenue (USD billion) and volume (Million Units).

Control Valves Market: Scope of the Study

For a better understanding of the control valves market, we have given detailed Porter’s five forces analysis. Furthermore, the study also comprises a market attractiveness analysis, where the end user industries are benchmarked based on their market size, growth rate and general attractiveness.

The report provides company market share analysis of various industry participants. In addition, the key players in the control valves market have also been profiled. The company profiles highlight the company overview, financial overview, business strategies, and recent developments in the field of control valves. Some of the leading players in the control valves market are Flowserve Corporation (U.S.), Pentair PLC (U.K.),Emerson Electric Co. (U.S.), General Electric (U.S.), Samson AG (Germany), and Crane & Co. (U.S.), VelanInc (Canada), Metso Corporation (Finland),  and IMI Plc (U.K.) among others.

Control Valves Market: By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Rest of the World
    • South America
    • Middle East & Africa

Control Valves Market: By Actuation Technology

  • Manual Control Valves
  • Pneumatic Control Valves
  • Hydraulic Control Valves
  • Electric Control Valves

Control Valves Market: By Type

  • Ball Valve
  • Butterfly Valve
  • Cryogenic Valve
  • Globe Valve

Control Valves Market: By End User Industry

  • Power Generation
  • Oil and Gas
  • Chemicals
  • Food & Beverages
  • Pharmaceuticals
  • Automotive
  • Wastewater Management
  • Others


 
 
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