Press release
Control Valves Market - Top Players (KITZ Corporation, Honeywell International Inc) Forecast 2025
According to a report published by Transparency Market Research, the global control valves market is expected to rise at a CAGR of 6.4% between 2017 and 2025. During this period, the market had a worth of US$6.01 bn in 2016 is anticipated to be worth at least US$10.46 bn by 2025.
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Butterfly Valve Segment to Continue to Exhibit Healthy Growth
The control valves market is mainly segmented on the basis of four main criteria that are: type, application, actuation technology, and prominent countries. These segments are further divided into several sub-segments that are explained in detail in the TMR report. Of all these categories, the butterfly valve segment present under the type category held the top spot regarding revenue in 2016, and its growth is expected to rise at a healthy rate in the future.
From a geographical perspective, North America holds the leading position in the global control valves market. A good market stint in this region is mainly due to extensive shale gas exploration. The control valves play an important role in shale gas exploration projects by helping to regulate the excess pressure and temperature generated during the extraction activities. As per the TMR report, the regional control valves market in North America is prophesized to grow at a rising CAGR of 5.1% from 2017 to 2025 and reach a revenue of about US$2.936 bn by 2025.
Natural Gas and Oil Exploration Contribute Towards Rising Market Graph
The growth of the power sector is one of the most prominent drivers of the global control valves market. Never-ending innovations and developments in this industry are all responsible for growth in the power industry all over the world, especially due to its high requirement in numerous activities. Another prime reason leading to an upsurge in this market is because of a substantial number of natural gas and oil exploration undertakings around the globe. The control valves are extensively used in the chemical industry, which is anticipated to gain a high traction especially in countries such as China and Japan. Thus, the improving chemical industry in these countries is a significant booster for the regional control valves market, thereby positively influencing the overall control valves market.
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Talking about restraints, the shortfall of technical experts is a significant factor that may dampen the global control valves market’s rise. This is mainly due to an inherent low population of people who venture out to learn the operation of control valves and associated processes. However, this picture is soon expected to change as the valve operations are becoming less complex and easier to understand. Increasing awareness about this field also is expected to improve the number of technical experts in this market.
The information presented in this review is based on a TMR report, titled “Control Valves Market (Actuation Technology - Manual Control Valve, Pneumatic Control Valve, Hydraulic Control Valve, and Electric Control Valve; Type - Ball Valve, Butterfly Valve, Cryogenic Valve, and Globe Valve; Application - Power Generation, Oil and Gas, Chemical Industry, Food and Beverages, Automotive, Pharmaceuticals, and Wastewater Management) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025"
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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