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Control Valve Market

Control Valve Market

Adoption of Automated Electric Control Valves to Boosts the Sales of Control Valve during 2021-2031

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

Market Snapshot

Fact.MR, a market research and intelligence provider, establishes that 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

Control Valve Market- Scope of Report

A recent study by Fact.MR on the control valve market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering control valves.

The study also provides the dynamics responsible for influencing the future status of the control valve market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the control valve market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of control valve across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of control valve during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative control valve markets?
  • Which factors will impact the growth of control valves?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the control valve industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for control valves are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global control valve market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the control valve market during the forecast period.

Country-specific valuation on demand for control valves has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of control valves, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering control valves has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the control valve domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the control valve industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- 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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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

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