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Control Valve Market

Control Valve Market

Control Valve Market Analysis by Actuation Technology (Manual, Pneumatic, Hydraulic, Electric), by Valve Type (Ball Control Valve, Butterfly Control Valve, Globe Control Valve, Plug Control Valve), by Application - Global Forecast 2021-2031

Control Valve Market
FACT439MR
  • Sep-2021
  • List of Tables : 146
  • List of Figures : 108
  • 170 Pages
  • Industrial Goods

Control Valve Market Outlook

The global control valve industry exceeded a market value of US$ 5 Bn in 2020. Automation in control valves is playing a major role in driving the sales of control valves.

In addition, rising demand from end user industries such as the oil & gas industry, healthcare and wastewater management is accelerating the sales of control valves. Thus, in the forecast period, the control valves market will garner a market value of over US$ 17 Bn, expanding over 3x by the end of 2031.

Key Points Covered in Control Valve Industry Analysis

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Control Valve Market and How to Navigate
  • Recommendation on Key Winning Strategies

Control Valve Historical Trends 2016-2020 in Comparison to Future Outlook 2021-2031

Historically between 2016 and 2020, the control valves industry gained a market value of US$ 5 Bn by the end of the aforementioned period. A CAGR of around 5% was registered.

Manufacturers are majorly focusing on offering valves that are resistant to corrosion and harsh environments. In addition, control valves such as electric valves and ball valves are anticipated to experience significant upswing in sales in the assessment period. Amidst the COVID-19 pandemic, sales declined temporarily, as lockdowns led to cessation of industrial activity in the first half of 2020. Prospects rebounded in the second half, as relaxations were granted.

Thus, in the forecast period, the control valves market is expected to register a CAGR of over 13% by garnering a market value of US$ 17 Bn by the end of 2031.

Which Factors are Driving Demand for Control Valves?

Increasing penetration of automation across several industrial verticals has fuelled the demand for components that regulate pressure, temperature and other elements effectively. Manufacturers are advancing their capabilities in developing control valves for the future demands from end user industries such as oil & gas, power generation and chemical industries.

New designs are being incorporated to increase the efficiency of control valves in enabling a direct control of the flow rate, and in processing the information on liquid level, temperature and pressure. By 2026, more than 18,334 units of control valves are expected to be sold across the globe.

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Increasing Adaptability Boosting Sales of Control Valves?

Control valves offer greater precision. Different end user industries demand various control valves that range from manual control value to electric control valve. In addition, newly designed valve controllers offer do not need maintenance. 

Multifunctional aspects of control valves such as flow, pressure and temperature regulation are making them popular across various manufacturing units. Valves such as ball valves, butterfly valves, plug valves and globe valves are propelling the sales of control valves with their easy availability. Simultaneously, control valves are resistant to harsh environments and corrosion. This, in turn, makes control valves useful for a longer period of time.

How have Hygiene Concerns Spurred Control Valves Adoption during COVID-19?

The COVID-19 pandemic has affected businesses on various levels. Increasing numbers of coronavirus cases have divulged the attention to sanitation of surroundings. Thus, demand from residential and commercial sectors for control valves has increased over time.

Frequent disinfection cycles across residential and commercial settings have bolstered demand for different categories of control valves. Although, in the first half, sales dipped amid shortage of adequate inventory in response to the ever aggrandizing demand. This was eventually offset as the disequilibrium vanished.

Alfa Laval, for instance, experienced a significant increase in demand for its Mixproof valves which provide maximum flexibility and safety in hygienic flow processing by making it possible to handle multiple fluids simultaneously, without any cross-contamination risk.

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Country-wise Analysis

What Growth Prospects Abound across North America?

The presence of manufactures of control valves along with the increasing presence of end users is driving the sales of control valves in the region. Robust industrial infrastructure in the U.S and Canada will drive the adoption of control valves across North America.

Thus, the market is expected to be the largest for control valves. By the end of the sales period in 2031, North America will account for more than 30% of global control valve market volumes.

Why are Control Valves Manufacturers Thriving in Asia?

Two major countries- India and China- are boosting the demand for control valves across Asia. This is mainly due to the increasing demand from healthcare, pharmaceutical and food and beverages sectors from the region. in addition, the end users are heavily investing in control valves to increase the efficiency and productivity rate at work stations.

Thus, control valve manufacturing will remain concentrated in Asia. Over the forecast period, the landscape is most likely assessed to expand at the highest volume CAGR of 5.8%.

Category-wise Insights

How are Electric Valves Driving Market Growth for Control Valves?

End users are highly favouring electric control valves due to their usability factors. Electric control valves immediately start after installation. Thus, they save time and money for manufacturing units. In addition, the installation time taken for electric control valves is less in comparison to other types of valves.

Thus, the electric valves will drive the adoption of control valves developed on electric actuation technology. Over the forecast period, electric control valves are estimated to register highest CAGR of 6.6% in terms of volume.

Why will Pneumatic Control Valves Remain Predominantly Used?

Through 2031, majority of control valves being sold in the global market will be developed on pneumatic control valve actuation technology. Effectiveness of pneumatic actuation technology in regulating system pressure and directing the pressure flow systematically continues to drive the sales of these control valves.

By 2020-end, more than 3,650 units of control valves were sold across the globe. Furthermore, the control valves will derive most of their market share from the oil & gas industry in the forecast period, capturing nearly 1/4th of global market volumes.

Why are Ball Valves Gaining Popularity?

Ball valves will represent top-selling control valves. Adoption of ball valves remains predominantly high in the industrial marketplace for their efficiency in working at non-lubricated conditions and maintaining the regularization of high pressures and high temperature flows.

By the end of 2031, more than 5,000 units of ball valves are expected to be sold globally. This, in turn, will affect the control valve industry positively by generating a substantial market value. Thus, ball valves are expected to register a CAGR of 6% in the assessment period.

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Competitive Landscape

Manufacturers are developing advanced control valves, equipping them with smart technologies and sensors that can facilitate highly accurate measurement across multiple parameters such as liquid levels, pressure and temperature. Some prominent developments include:

  • In February 2020, Emerson Electric Co. introduced the ASC Series 158 Gas Valve and Series 159 Motorized Actuator. Designed specifically for burner-boiler applications, the new products provide end users a new shutoff option which increases safety and reliability
  • Likewise, In November 2019, Bürkert has developed a redundancy block with valves and pressure switches for applications with high safety requirements. For a redundant switch-off option, they are installed pneumatically in a row behind the valves on the valve terminal.

Report Scope

Attribute

Details

Market size value in 2020

USD 5 Billion

Market forecast value in 2031

USD 17 Billion

Growth Rate

CAGR of 13% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania 
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • UK
  • Spain
  • France
  • Italy
  • India
  • ASEAN
  • China
  • Japan
  • Australia
  • GCC
  • South Africa
  • Nigeria
  • Israel

Key Market Segments Covered

  • Actuation Technology
  • Valve Type
  • Application
  • Region

Key Companies Profiled

  • Emerson Electric Co.
  • Schlumberger Limited
  • Honeywell International Inc.
  • General Electric Company
  • Goodwin International Ltd.
  • Flowserve Corp
  • Metso Plc.
  • Dresser Inc.
  • Burkert Fluid Control Systems
  • Crane Co.
  • Velan Inc.
  • Pentair Limited
  • Dual Products Intl. Cc
  • Samson AG
  • MIL Control Limited
  • IMI Plc.
  • Curtiss-Wright
  • Neway Valves
  • Spirax Sarco

Pricing

Available upon Request

Key Segments Covered

  • Actuation Technology

    • Manual Control Valve
    • Pneumatic Control Valve
    • Hydraulic Control Valve
    • Electric Control Valve
  • Valve Type

    • Ball Control Valve
    • Butterfly Control Valve
    • Globe Control Valve
    • Plug Control Valve
    • Other Control Valves
  • Application

    • Control Valves for Metal & Mining
    • Control Valves for Pulp & Paper
    • Control Valves for Power Generation
    • Control Valves for Oil & Gas
    • Control Valves for Chemicals
    • Control Valves for Food & Beverages
    • Control Valves for Automotive
    • Control Valves for Pharmaceuticals
    • Control Valves for Water & Wastewater Management
    • Control Valves for Other Applications

- FAQs -

As of 2020, the market for control valve reached nearly US$ 5 Bn

From 2016 to 2020, sales of control valves surged at a CAGR of around 5% as per Fact.MR

The control valve is expected to surpass a CAGR of over 13% from 2021-2031.

The control valve market is expected to reach nearly US$ 17 Bn by 2031

Increasing demand from end users and durability of control valves are the key trends driving control valve sales.

Emerson Electric Co., Schlumberger Limited, Honeywell International Inc., and General Electric Company are some prominent manufacturers of control valves.

The electric control valve type is expected to hold the highest share for sales, expanding at over 6.6% CAGR

The control valve industry is expected to register a CAGR around 30% throughout North America

The control valve industry is expected to register a CAGR of 5.8% in the Asia Pacific region.

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