Control Valves Market: Highlights The Competitive Scenario Of The Market, Major Competitors And Benchmarking

The global control valves market was valued at $11,137.0 million in 2017 and is projected to reach $16,057.5 million by 2023, witnessing a CAGR of 6.3% during the forecast period. The market growth is driven by factors such as rise in infrastructure projects and increased use of the valves by the food and beverages industry.

Globally, it is seen that the supply system is still at a developing stage. Most of the companies are not able to supply the required product within the stipulated time. This is attributed to the fact that the logistics and supply systems of the companies are not yet fully automated. This results in the delay of the development plans and projects, and power plant unit’s installation in which controlling valves were to be installed. Hence, inefficient logistics and supply system is one of the major factors restraining the control valves market growth.

Browse a overview of this report @ https://www.psmarketresearch.com/market-analysis/control-valves-market

There has been development of new valve technologies in which processors are being embedded. Traditionally, the controlling valves were mechanically used without any processors or chips being embedded in it. However, the manufacturers are now developing new technologies in which there are processors being embedded inside the valves. These new technologies allow the valves to deliver the real time data for flow rates and operating conditions. Also, this helps in the predictive maintenance and unplanned shutdowns. The manufactures are adopting the new technologies for the controlling valves, thus resulting in the technological shift of the control valves market.

Growing economy is fuelling the investments in infrastructure projects. For instance, it is seen that there is an increasing number of residential and wastewater projects in countries such as China, India, Thailand, and Brazil. This is attributed to the fact that people are slowly moving towards the urban areas due to the rise in income level. As per the secondary research, in China, the investment for infrastructure grew by around 50% in 2017 as compared to 2016. This in turn is leading to the use of the valves in the construction projects, thus fuelling control valves market.

Get a free sample copy of this report @ https://www.psmarketresearch.com/market-analysis/control-valves-market/report-sample

APAC was the largest market for control valves, contributing more than 45.0% revenue to the market in 2017. The largest share of the region is attributed to the high economic growth rate, developing infrastructure, growing demand for energy, and the shift in production facilities of controlling valves from the developed economies to this region. It has been seen that China has recently discovered new oil reserves, which will lead to the setup of new oil and gas production facilities. The new production facilities will use the valves for controlling the flow of the fluids in the pipeline. These factors will drive the growth of the control valves market.

Some of the major players operating in the global control valves market are AVK Holding A/S, Bürkert Fluid Control Systems, Emerson Electric Co., Flowserve Corporation, General Electric Company, Goodwin International Limited, Honeywell International Inc., KITZ Corporation, Rotork Plc, Velan Inc., Schlumberger N.V. (Schlumberger Limited), Swagelok Company, Armstrong International Inc., Metso Corporation, IMI plc, and Samson AG.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

This release was published on openPR.