A recent report, titled “Stainless Steel Control Valves Market - Global Forecast, Market Share, Size, Growth and Industry Analysis, 2015 - 2023,” from Transparency Market Research (TMR) offers the latest insights into the market. The report states that the global stainless steel control valves market will expand at a CAGR of 5.0% during the forecast period from 2015 to 2023. In 2014, the global stainless steel control valves market was estimated at US$240.0 mn and by 2023, the market is projected to be worth US$371.6 mn. Several factors will shape the global stainless steel control valves market till 2023.
Browse the full Stainless Steel Control Valves (Less than 2 inches) Market, by actuation technology (manual, pneumatic, hydraulic and electric), by types (ball valve, butterfly valve, cryogenic valve, globe valve and others), by end-use industry (power generation, oil & gas, chemical industry, semiconductor & electronics manufacturing, wastewater management and others): Global Forecast, Market Share, Size, Growth and Industry Analysis, 2015 - 2023 report at https://www.transparencymarketresearch.com/stainless-steel-control-valves-market.html
A control valve is a type of device that modulates the flow of fluids at different temperatures depending on the signals received from an external control device. This device is also referred to as the ‘final control element’ and performs various functions that directly impact the process. Some of the actuation technology valves used in the market are electric control valves, hydraulic control valves, pneumatic control valves, and manual control valves.
The rising application of stainless steel control valves in the chemical industry in Asia Pacific will significantly drive the market. Moreover, the growing importance of wastewater management and the rapid expansion of the semiconductor and electronics manufacturing sector will also benefit the global stainless steel control valves market. Nevertheless, the downturn in the oil and gas industry will challenge the global stainless steel control valves market. Further to this, the rising application of polyvinylidene fluoride (PVDF) control valves will also suppress the global stainless steel control valves market.
The global stainless steel control valves market is segmented broadly on the basis of actuation technology, type, application, and geography. According to type, the global stainless steel control valves market is classified into control valves, cryogenic control valves, butterfly control valves, ball control valves, and others. In 2014, the stainless steel butterfly control valves (less than 2 inches) dominated the market due to their extensive application in several industry verticals.
Application-wise, the global stainless steel control valves market is divided into wastewater management, semiconductor and electronics manufacturing, oil and gas, power generation, chemical industry, and others. In 2014, the power generation segment stood out as the largest individual contributor to the demand for stainless steel control valves (less than 2 inches), as these valves are increasingly being used in this sector.
Regionally, the global stainless steel control valves market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). The growing demand for power in industrial projects in emerging economies such as Brazil, China, and India has positively impacted the global stainless steel control valves market. In 2014, the APAC segment accounted for 40% of the global stainless steel control valves market. The demand for stainless steel control valves (less than 2 inches) is expected to remain high in the APAC region due to their increasing demand in many industry verticals.
Players in the global stainless steel control valves market will benefit from the growth of several industry verticals such as HVAC systems. The key players operating in the global stainless steel control valves market are Kimray, Richard Industries, Cameron International Corporation, Velan, Samson, Pentair, Metso, Emerson Electric, and Swagelok.
Key Segments of the Global Stainless Steel Control Valves Market
Stainless Steel Control Valves (Less than 2 inches) Market, by Actuation Technology:
- Manual Control Valves
- Pneumatic Control Valves
- Hydraulic Control Valves
- Electric Control Valves
Stainless Steel Control Valves (Less than 2 inches) Market, by Types:
- Ball Control Valves
- Butterfly Control Valves
- Cryogenic Control Valves
- Globe Control Valves
Stainless Steel Control Valves (Less than 2 inches) Market, by Application:
- Power Generation
- Oil & Gas
- Chemical Industry
- Semiconductor & Electronics Manufacturing
- Wastewater Management
Stainless Steel Control Valves (Less than 2 inches) Market, by Geography:
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East
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