Control Valve Market Study Reveals Impressive Growth at a CAGR of 3.67% during 2018-2023 | Market Key Manufacturers - ALFA LAVAL, BURKERT FLUID CONTROL SYSTEM, CRANE, CURTISS-WRIGHT, EMERSON PROCESS MANAGEMENT, FLOWSERVE CORPORATION, IMI, KITZ

The global control valve market was valued at USD 9.76 billion in 2017 and is expected to register a CAGR of 3.67% during the forecast period of 2018-2023, to reach USD 11.76 billion. These valves are extensively used across various industries as they are utilized for controlling fluid flow by varying the size of the flow passage as directed by a signal from a controller. Types of control valves considered under the scope of our study include globe, angle, diaphragm, ball, butterfly, and choke. Oil & gas, power generation, and chemical industries are a few of the end-user verticals considered, while the scope of our study is geographically limited to North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.

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Increasing need for wireless infrastructure to maintain/monitor equipment in various plants, rising demand for control valves for oil and gas and sub-sea applications, new oil explorations and revamp of old sites in the Middle East are expected to remain the major driving factors during the forecast period. However, high initial investments in valve projects, coupled with the downtime due to the repairing of valves is expected to hinder the overall market growth.

Key Developments in the Market
• March 2018: Mass Flow ONLINE B.V., the e-commerce channel of the Netherlands-based Bronkhorst High-Tech B.V., released a new series of pressure compensated control valves.
• March 2018: Weir Valves & Controls UK confirmed the design and built of one of the largest ever tungsten carbide control valves, designed to tackle the issues associated with black powder.

The major players include –
ALFA LAVAL, BURKERT FLUID CONTROL SYSTEM, CRANE CO., CURTISS-WRIGHT CORPORATION, EMERSON PROCESS MANAGEMENT, FLOWSERVE CORPORATION, IMI PLC, KITZ CORPORATION, METSO CORPORATION, NEWAY VALVES (SUZHOU) CO., LTD, PENTAIR PLC, SAMSON AG, THE WEIR GROUP PLC, and VELAN INC., amongst others.

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Globe Valves Expected to Hold the Largest Market Share
A globe valve is a linear motion valve, which is primarily designed to stop, start, and regulate flow. The disk of a globe valve can be removed from the flow path, or it can completely close the flow path. Conventional globe valves may be used for throttling and isolation services. Although these valves exhibit slightly higher pressure drops than other valves, like gate, plug, ball, etc., they may be used where the pressure drop through the valve is not a controlling factor. Globe valves are extensively employed to control flow. The range of flow control, pressure drop, and duty must be considered in the design of the valve to avert premature failure and to assure satisfactory service. Globe valves are being extensively employed as these valves have both good throttling and shutoff capabilities, coupled with the ability to be used as a stop-check valve if the disc is not attached to the stem.

The following are some of the typical applications of globe valves:
• Cooling water systems
• Fuel oil systems
• Feedwater or chemical feed systems
• Boiler and main steam vents and drains
• Turbine lube oil system and others

Control Valves Expected to Witness Major Adoption in India
There is an increasing trend toward automation and digitalization in the conventional process industries, leading to higher demand for control valves in the country. Suppliers are focusing on product development through either joint ventures or strategic partnerships to take advantage of the opportunities afforded by such projects. The economic growth in India is among the highest in the world, helped by a reorientation of government spending toward needed public infrastructure. Presently the exports from the Indian automation sector is less than 5% of its annual sales and limited to the Middle East and some extent Southeast Asia, while the aim is to achieve an export target of 20% of the yearly production in value terms. In the energy sector, an emphasis is being given to the electrical automation, transmission, and distribution by way of implementing SCADA, and smart grids. Electricity generation and demand in the country is growing at a significant pace. With the advent of Industry 4.0, the energy sector is looking to integrate automation in energy generation to streamline the process, which is expected to drive the adoption of control valves.

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