Control Valve Market Growth 2020: Size, Share, Trends and Leading Market Players
Control Valves Market - Opportunities and Forecasts, 2014-2022," projects that the world control valves market would reach $13,674 Million by 2022 at a CAGR of 7.6% from 2016 to 2022. Pneumatic control valves market occupied a dominant share of about 80% in 2015 and is expected to maintain its lead throughout the forecast period. By application, electric powered control valve segment accounted for about 22% of the market share in 2015. North America is the largest regional market for control valves globally at present.
The electric power, oil & gas, automotive segments accounted for more than half of the share in the overall control valves market in 2015. Oil & gas and power industry is currently creating the highest demand for control valves, capturing the largest market share. Industrial steel control valves are more in demand for the upcoming oil & gas projects.
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In recent years, the capital spending for power generation has grown significantly in developing countries, especially in China and India. The rapid growth of Chinese economy is in some cases limited by the availability of power, so pressure to develop more generation capacity is intense. Oil & gas is the second largest application segment in the world control valve market, as industrial control valves are universally consumed.
Key findings of the study:
o Pneumatic control valve is projected to be the fastest growing segment, at a CAGR of 7.40%, in the world control valves market.
o Electric power and oil & gas, automotive segment together contributed about 40% of the overall market share in 2016.
o The North America is projected to occupy the highest market share, registering a CAGR of 6.13% from 2016 to 2022.
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The key companies profiled in this report are Emerson Electric Co. (U.S.), Flowserve Corporation (U.S.), Metso Corporation (Finland), Pentair Plc (UK), General Electric Company (U.S.), Samson AG (Germany), MIL Control Limited (India), Crane Fluid Inc (U.S.), IMI Plc (UK), Velan Inc. (Canada), Crane Co. (U.S.) and Flowserve corporation (U.S.).
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