Control Valves Market Demand And Growth Analysis 2022-28

The global control valves market size was valued at USD 5,784.3 million in 2021 and is expected to grow at a significant CAGR of 6.8% during the forecast period 2022 to 2028. A control valve is a valve that is used in process sectors like water management, power generation, oil & gas, food & beverage, and automotive to control fluid flow, pressure, and temperature by changing the size of the flow path. Two types of control valves, linear and rotary, which offer excellent efficiency and safety, are typically utilized in many sectors. Automation in process industries is a focus for many businesses, and this will offer a lucrative opportunity for market expansion.

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Control Valves Market Growth Factors:
Rising demand from end-use industries like water and wastewater treatment, oil and gas, and the energy and power sector is what is driving the market. In addition, rising industrial automation adoption is promoting the use of smart control valves, which is anticipated to support market expansion throughout the forecast period. The need for control valves is being driven by expanding power generation facilities around the world as well as rising energy and power demands from developing nations. Additionally, these valves are utilized in nuclear power plants, specifically in the steam turbine control system, feed water, cooling water, and chemical treatment operations. Additionally, the production and refinery platforms' exposure to high pressure, high temperature, and unfavourable corrosion conditions has increased demand for control valves. Offshore and onshore oil and gas operations mostly employ these platforms. Most of the crucial systems in the oil and gas industries employ these valves. It regulates fluid volume, direction, pace, and pressure in addition to flow.

The global control valves market segmentation:
1) Product Type: Globe Valve, Ball Valve, Butterfly Valve, Angle Valve, Diaphragm Valve, Others.
2) Operation: Pneumatic Control Valve, Hydraulic Control Valve and Electrical Control Valve.
3) Application: Electrical Power, Oil & Gas, Water & Wastewater, Automotive, Pharmaceuticals, Mining, Chemicals, Food & Beverages and Others.

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Control Valves Market Regional Analysis:
Due to the presence of developing nations like China and India, Asia Pacific dominated the global market in 2019. Businesses are making significant investments in the production of valves, actuators, and the technologies that must be combined to create smart valves. The increase in demand for automated valve operations in sectors like water and wastewater, food and beverage, energy and electricity, and pharmaceutical is to blame for this. Over the projection period, the Middle East & Africa area is anticipated to experience the second-highest CAGR of 6.55%. Due to a disproportionately high demand for valve replacement from numerous ongoing projects in the continent, the U.S. led the market in North America.

Major players working in the control valves market are Emerson Electric Co, ALFA LAVAL, Schlumberger Limited, Crane Co, Flowserve Corporation, KITZ Corporation

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