Control Valve Market
Control Valve Market Analysis By Actuation Technology (Manual, Pneumatic, Hydraulic, Electric), By Valve Type (Ball, Butterfly, Globe, Plug), By Application (Metal & Mining, Pulp & Paper, Power Generation, Oil & Gas, Chemicals, Food & Beverages, Automotive, Pharmaceuticals, Water & Wastewater Management) & By Region – Global Market Insights 2023 to 2033
Analysis of Control Valve Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Control Valve Market Outlook (2023 to 2033)
The global control valve market is valued at US$ 13 billion in 2023 and is predicted to reach US$ 23.3 billion by 2033-end, expanding at a CAGR of 6% over the studied ten years.
- Globe valves are extensively used in wastewater treatment, food processing, and process industries, and account for 39% of overall sales.
- Sales of globe control valves are expected to increase faster at a CAGR of 6.4% over the projection period.
Control valves are crucial for improving the productivity, security, and profitability of these process sectors. Control valve producers are constantly working on new research and development projects to adapt their products to the requirements of various industries.
The process industry's increasing requirement for automation is anticipated to drive market expansion for control valves. Additionally, it is anticipated that increased investments in pharmaceutical infrastructure and the oil and gas sector will spur market growth.
Numerous systems are used within and around the processing system to maintain the efficient and smooth operation of these processes. One of the most important tools for ensuring that the process will run smoothly within the restrictions is the control system.
Different controllers are used by control systems to regulate process conditions. One of these, the control valve, is used to regulate the process's physical characteristics, including flow, pressure, and temperature. New designs are being incorporated to increase the efficiency of control valves in enabling direct control of the flow rate and processing the information on the liquid level, temperature, and pressure.
The pharmaceutical business employs control valves to keep operations running at the proper temperature and pressure to preserve product quality and worker safety. During the forecast period, the expansion of the pharmaceutical industry is likely to spur the expansion of the control valve market.
Electric control valves immediately start working after the installation. Thus, they save time and money for manufacturing units. In addition, the installation time taken for electric control valves is less than other types of valves. The electric valves will drive the adoption of control valves developed on electric actuation technology.
Market Size in 2023
US$ 13 Billion
Forecasted Market Value (2033)
US$ 23.3 Billion
Global Market Growth Rate (2023 to 2033)
Market Share of Globe Control Valves (2023)
United States Market Value (2023)
US$ 2.73 Billion
Market Share of Oil & Gas Industry (2023)
Germany Market Value (2033)
US$ 1.9 Billion
China Market Size (2033)
US$ 3.68 Billion
United Kingdom Market Growth Rate (2023 to 2033)
Key Companies Profiled
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Which are the Major Factors Driving Global Demand for Control Valves?
“IoT Adoption Improving Process Industries' Ability to Operate Control Valves”
The processing sectors, including oil and gas, chemical, and others, have started using IoT (Internet of Things) technology in recent years. Control valves operate more efficiently because of the IoT. As the IoT system is combined with smart valves that include intelligent control systems, wireless vibration sensors, and embedded processors, there has been an increase in demand for its adoption in many industries.
A centralized monitoring system receives notifications and data from these sensors. In addition to these, IoT is employed for proactive control valve maintenance and real-time remote access. IoT may thus be used to boost control valve performance and efficiency, which will reduce maintenance costs and foster a safer working environment, ultimately driving the control valve market.
“Increasing Adaptability of Control Valves”
Control valves offer greater precision. Different end-user industries demand various industrial valves that range from manual control valves to electric control valves. In addition, newly designed valve controllers 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.
What Could Possibly Hinder the Sales of Control Valves?
“Government Regulations and Lack of Standardized Certifications”
Certain processes at high fluctuating temperatures can increase the load inside the pipe at the end of the valve, leading to leakage in the gate valve. This is hampering the sales of gate valves for high-temperature applications.
Government regulations and a lack of standardized certifications are likely to limit the industry. Another important factor that is predicted to harm market performance over the coming years is the fact that control valves are neither interchangeable nor compatible with a variety of devices.
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How Can Start-ups Expand Their Market Presence?
“New Companies Should Focus on Developing Advanced Control Valves and Integration of Smart Technologies”
Numerous new businesses can expand their market presence and reach out to consumers in emerging economies as a result of the rising demand for control valves. New entrants should focus on developing advanced control valves and the integration of smart technologies and sensors that can facilitate highly accurate measurement across multiple parameters such as liquid levels, pressure, and temperature.
Control valves have become smarter because of innovations such as digitalization and sensor integration. Start-ups must integrate smarter external software to support intelligent control valve positioners.
Will the United States Be an Investment-worthy Market?
“Market to Benefit from Robust Industrial Infrastructure”
- The market in the United States is predicted to rise at a CAGR of 7.1% from 2023 to 2033.
The presence of manufacturers of control valves, along with the increasing presence of end users, is driving the sales of control valves in the country. Robust industrial infrastructure will drive the adoption of control valves.
- The Environmental Protection Agency (EPA) in the United States ordered that the use of conventional spring diaphragm actuators be restricted to minimize greenhouse gas emissions. The emissions of methane and volatile organic compounds decreased when these actuators were replaced with pneumatic actuator valves.
Why are Control Valve Manufacturers Eyeing the United Kingdom?
“Expanding Mining Operations across the Country”
- The market in the United Kingdom is predicted to reach US$ 2.12 billion by 2033.
Expanding mining operations, favorable government policies, and rapid industrial automation are the key factors supporting market expansion in the United Kingdom. Growing sales of hydraulic valves, and rising focus on digital advancements in existing technologies are boosting market value.
Why are Sales of Control Valves Increasing in Germany?
“Growing Emphasis on Renewable Energy Projects”
- The market in Germany is set to develop at a CAGR of 6.4% over the next ten years.
Growing emphasis on renewable energy projects is driving the demand for control valves in Germany. Wind, solar, geothermal, hydropower, and biomass resources are available in the country. The presence of a highly skilled workforce, rapid modernization, and expanding transportation sector are the elements driving market growth.
How is Demand for Control Valves Evolving in China?
“Rapid Growth of Biopharmaceutical Sector”
- The market in China is valued at US$ 1.76 billion in 2023.
Market expansion is attributed to the rapid growth of the biopharmaceutical sector. End users are heavily investing in control valves to increase the efficiency and productivity rate at workstations. An increase in government investments in the biotechnology sector is stimulating market revenue.
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Why is There High Preference for Globe Control Valves?
“Growing Acceptance of Automation in Process Manufacturing”
By valve type, the market is segmented into ball, butterfly, globe, plug, and others.
- At present, globe control valves account for 39% share of the global market.
Globe valves are mechanical or electromechanical components used to direct and control fluid flow and pressure by opening and shutting fluid passageways. There are several uses for globe control valves.
Globe control valves can be found in turbine lube oil systems, fuel oil systems, and cooling water systems. The demand for globe valves has increased globally as a result of the growing acceptance of automation in process manufacturing.
Which Application is Contributing to Market Growth Opportunities?
“Control Valves Widely Used in Oil & Gas Industry Due to Increase in Drilling Activities”
The market is classified into metal & mining, pulp & paper, power generation, oil & gas, chemicals, food & beverages, automotive, pharmaceuticals, water & wastewater management, and others based on application.
- Currently, the oil & gas industry holds 26% share of the global market.
The use of control valves in the oil & gas industry is increasing due to an increase in drilling activities and the increasing energy demand. The oil and gas industry's infrastructure has seen significant investment as a result of the rising demand.
Control valves are widely used in the production of natural gas, the extraction of crude oil, and the refining process. Additionally, due to the increasingly strict safety regulations, about 10% of installed valves are replaced each year.
The need for flow and pressure control devices, such as control valves, is rising across the oil and gas sector to regulate, control, and govern the flow of liquids and gases. Governments are placing a strong emphasis on expanding oil and gas production in response to the growing worldwide demand for energy sources, including natural gas, diesel, and petrol.
Top control valve manufacturers are investing heavily in R&D to create novel solutions while following safety regulations. Leading companies constantly engage in strategic endeavors such as quality control, product standards, joint ventures, and supply chain management to maintain their market position. This aims to increase their presence both locally and globally and provide their customer base with a wider range of products.
- In November 2019, Bürkert developed a redundancy block with valves and pressure switches for applications with high safety requirements.
Key Segments of Control Valve Industry Research
By Actuation Technology :
By Valve Type :
By Application :
- Metal & Mining
- Pulp & Paper
- Power Generation
- Oil & Gas
- Food & Beverages
- Water & Wastewater Management
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global control valve market stands at US$ 13 billion in 2023.
The United Kingdom market for control valves is valued at US$ 1.16 billion in 2023.
By 2033, worldwide demand for control valves is expected to reach a valuation of US$ 23.3 billion.
Global sales of control valves are set to increase at a CAGR of 6% through 2033.
Honeywell International Inc., General Electric Company, and Goodwin International Ltd. are the top manufacturers of control valves.