Press release
Control Valve Global Market Report 2024 Market Size, Growth Analysis, Trends By 2024-2033
Control Valve Global Market
As per the report, the control valve market size has grown rapidly in recent years. It will grow from $6.75 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The control valve market size is expected to see rapid growth in the next few years. It will grow to $12.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
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Surging Demand In Oil & Gas And Power Industries Propels Growth In The Control Valve Market
The growing oil & gas and power industries are expected to propel the control valve market growth going forward. The oil & gas industry refers to companies that are involved in discovering a resource, transporting it to a refinery, and processing it into a finished product. The power industry includes businesses that are involved in providing power such as gas, and electricity to domestic and commercial uses. The boom in the oil & gas and power industries requires the installation of control valves for processing and distribution. For instance, according to the Energy Information Administration - EIA, a US-based provider of energy information, the production of crude oil in the US in 2022 increased by 14.05% to 11,316 barrels per day compared to 9,925 barrels per day in 2021. Also, the electricity net generation in the US in September 2022 increased by 0.9% to 350,920 thousand MWh from 2021. Therefore, the growing oil & gas and power industries are driving the growth of the control valves market.
Featured Valve To Enhanced Flow Balancing
Major companies operating in the control valve market are developing featured valves such as butterfly valve ranges for enhanced flow balancing in control valve applications. A butterfly valve is a type of quarter-turn valve that uses a rotating disk to control the flow of fluid through a pipe or tub. For instance, in July 2022, Valmet, a Finland-based developer and supplier of process technologies, launched the Neles Q-Disc, a high-performance feature for flow balancing in control valve applications. Q-Disc is designed for control applications and is part of Valmet's versatile butterfly valve product range to address challenges in complex process conditions. Its key benefits include preventing oversized actuators and offering a cost and energy-efficient solution. Q-Disc tackles issues such as cavitation and provides significant noise reduction, up to 12 dB in specific flow conditions. The modular option is available for a range of butterfly valves, contributing to improved reliability and efficiency in overall process operations.
The control valve market covered in this report is segmented -
1) By Type: Linear, Rotary
2) By Component: Valve Body, Actuator, Other Components
3) By Material: Stainless Steel, Alloy-Based, Cast Iron, Cyrogenic, Other Materials
4) By Industry: Oil and Gas, Water and Wastewater Treatment, Energy and Power, Pharmaceuticals, Food and Beverage, Chemicals, Building and Construction, Paper and Pulp, Metals and Mining, Other Industries
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Major companies operating in the control valve market report are Schlumberger Limited, Alfa Laval AB, Conbraco Industries Inc., Arca Regler GmbH, Burkert Fluid Control Systems, Cla-Val Co., Crane Holdings Co., Curtiss-Wright Corporation, Emerson Electric Co., Flowserve Corp., General Electric Company, IMI plc, Kitz Corporation, Lapar Control Valve Co. Ltd., Neway Flow Control Co.Ltd., Taylor Valve Technology Inc., Velan Inc., Baker Hughes Company, Metso Corporation, CIRCOR International Inc., AVK Holding A/S, Eaton Corp. plc, Festo AG & Co., Georg Fischer Ltd., Hitachi Ltd., ITT Inc., KSB SE & Co. KGaA, Leser GmbH & Co., Parker Hannifin Corporation, Pentair plc, Rotork plc, Smiths Group plc, The Weir Group plc, Xylem Inc. .
Contents of the report:
1. Executive Summary
2. Control Valve Market Report Structure
3. Control Valve Market Trends And Strategies
4. Control Valve Market - Macro Economic Scenario
5. Control Valve Market Size And Growth
…..
27. Control Valve Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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