Press release
Control Valves Market Increasing Demand from Process Industries such as Oil & Gas
Control valves are used in various industries such as oil and gas, wastewater management, automotive, pharmaceuticals, mining, chemicals, and food and beverages, among others.
In terms of product type, the control valves market has been segmented into manual control valves, pneumatic control valves, hydraulic control valves and electric control valves. The market for control valves is primarily driven by the increase in energy consumption, coupled with increasing demand from process industries such as oil and gas.
The market for control valves is primarily driven by oil and gas industry due to their application throughout upstream, midstream and downstream activities. While demand for oil and gas products is increasing at significant rates, supply for the same industry is dwindling due to the global decrease in oil and gas reserves.
Moreover, increasing application of control valves in the food and beverage industry is one of the major driving factors for the growth of the control valves market. In the food and beverages industry, control valves are used in verticals such as the dairy industry, oils and fats industry, and animal feed industry.
As per recent trends, it has been observed that there has been increasing demand for control valves from industries such as pharmaceuticals, power generation, and food and beverages. There has been increasing emphasis on designing and manufacturing control valves that do not need periodic maintenance.
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Due to recent developments in the area of electric control valves, demand for the same has increased drastically in the recent past. Electric control valves are more efficient and enable a greater level of control as compared to the other types of valves.
Furthermore, it has also been observed that low cost control valves being produced by the Asian companies are penetrating existing control valves markets for established big players such as Metso, Flowserve and Velan among others.
As the regulations regarding environment pollution are expected to become stringent, the demand for control valves that have low environmental impact is expected to be high in the near future.
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