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2017 Market "Control Valves" 2024 Growth and Forecast Details - Trend, Research
Control Valves
Description-
– Control Valves Market: Trends and Opportunities
Control valves are types of valves which are used to control conditions such as temperature, flow, liquid level and pressure by fully or partially closing or opening in response to the signals received from the controllers. 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.
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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.
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