Automation has been induced in several industries which surges the demand for different components that regulate temperature and pressure. Manufactures have initiated the development of control valves to suffice the demand that may arise in future. New designs that enhance control valve’s efficiency are being incorporated in order to control the flow rate directly. These designs also find usage in processing different types of components like liquid level, pressure and temperature.
Recent Fact.MR report predicts the global control valve market to expand at steady pace in the coming years. Global market is estimated to grow at 5.5% CAGR in the period 2017-2026. Total volume of more than 18,334 thousand units is the expected sale in the global market by the end of year 2026. Control valves based on the technology of pneumatic control valve actuation is expected to witness the majority sale. This technology is known to effectively regulate system pressure and has the potential to systematically direct pressure flow. This property positively influences the sale of control valves. Fact.MR report states that 3,650 thousand units was the volume of control valves sold globally in the year 2017. Increment in sale of electric vehicles and hybrid vehicles are anticipated to encourage adoption of control valves which wok on the technology of electric actuation.
Ball valves to lead market
Global market for control valve can be segmented into manual control valve, hydraulic control valve, pneumatic control valve and electric control valve. Different valve types popular in the global market are ball valve, globe valve, and butterfly valve and plug valve. Oil & gas and metal & mining industries ae the leading consumer sectors of control valves. Chemical industry, pulp & paper industry and power generation industry acquire significant position in market in terms of control valve’s application.
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Food and beverages industry along with pharmaceuticals employ control valves in preparation of different products. Other application areas are automotive industry and water & wastewater treatment industry. Different leading regions in global market are North America, Europe, Latin America, Japan, MEA and APEJ.
Fact.MR report highlights ball valves as the most selling control valves in the coming years. The adoption rate of these control valves is expected to remain high in industries because of their efficiency to perform in conditions of non-lubrication. Control valves are also employed to regularize flows with properties like high temperature and high pressure. Other control valves that are highly demanded are globe valve and butterfly valve which are anticipated to volumetrically grow at 6% CAGR and more than it. Oil & gas industry is generating lucrative opportunities in terms of applications. In fact, it is expected to acquire one-fourth of global market by the end of year 2026.
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Major stake holders in global market for control valve are Emerson Electric Co., Honeywell International Inc., Goodwin International Ltd., Metso Plc, Burkert Fluid Control Systems, Velan, Inc., Dual Products Intl. Cc, MIL Control Limited, Neway Valves, Schlumberger Limited, General Electric Company, Samson AG and Spirax Sarco.
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