Control Valve
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How Large Will the Control Valve Market Size By 2025?
In recent times, the market size for control valves has seen a quick expansion. The rapid growth is projected to escalate from $7.5 billion in 2024 to $8.42 billion in 2025, with an annual compounded growth rate (CAGR) of 12.2%. Factors contributing to the growth during this historic phase include industrial expansion, compliance with regulations, fluctuations in the energy sector, infrastructure development, safety and environmental considerations, globalization, and upgrading outdated infrastructure.
How Big Is the Control Valve Market Size Expected to Grow by 2029?
The market for control valves is projected to witness substantial growth in the near future, with an expectation to increase to $13.37 billion in 2029 at a 12.2% compound annual growth rate (CAGR). This expansion during the forecasted period can be credited to an emphasis on energy efficiency, environmental sustainability, the need for high-grade valves, a shift towards preventive maintenance, growth in developing markets, and market unification. Upcoming trends within this period encompass intelligent valve technology, integration of industry 4.0 and IIOT, digitalization with remote monitoring, modular valve architecture, and improved materials and coatings.
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Which Key Market Drivers Powering Control Valve Market Expansion and Growth?
The control valve market is projected to flourish due to the expansion of the oil & gas and power sectors. The oil & gas industry pertains to firms engaged in resource exploration, transportation to refineries, and conversion into a consumable product. The power sector comprises companies that supply utilities such as gas and electricity for residential and business purposes. The surge in these sectors necessitates the incorporation of control valves in their processing and distribution systems. For example, the US Energy Information Administration reported in October 2023 that US crude oil production increased to 12.4 million b/d in 2023, up from 11.7 million b/d in 2022. Additionally, in September 2022, the US experienced a record high in natural gas consumption, averaging 86.6 billion cubic feet per day (Bcf/d) in 2022, the highest rate of annual consumption compared to the previous year. As a result, the burgeoning oil & gas and power sectors are spurring the expansion of the control valve market.
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Which Fast-Growing Trends Are Poised to Disrupt the Control Valve Market?
Key players in the control valve market are focusing on the production of specialized valves, including butterfly valve ranges, to improve flow balancing in control valve applications. A butterfly valve, a quarter-turn valve type, utilizes a revolving disk to direct the flow of fluid in a pipe or tube. For instance, in July 2022, Valmet, a firm based in Finland that develops and supplies process technologies, introduced Neles Q-Disc, a high-functioning feature meant to optimize flow balancing in control valve uses. Q-Disc, designed for control applications, is part of Valmet’s comprehensive butterfly valve product line aimed at resolving challenges associated with complicated process conditions. It offers significant advantages such as eliminating the need for oversized actuators and providing a solution that is both cost and energy efficient. Q-Disc also addresses issues like cavitation and considerably reduces noise, by up to 12 dB under certain flow conditions. There’s also a modular option available for different butterfly valves, enhancing the reliability and efficiency of the overall process operations.
What Are the Emerging Segments in the Control Valve Market?
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, Cryogenic, 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
Subsegments:
1) By Linear: Globe Valves, Gate Valves, Pinch Valves, Diaphragm Valves
2) By Rotary: Ball Valves, Butterfly Valves, Plug Valves, Disc Valves
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Who Are the Global Leaders in the Control Valve Market?
Major companies operating in the control valve market include 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.
Which are the Top Profitable Regional Markets for the Control Valve Industry?
North America was the largest region in the control valve market in 2024. The regions covered in the control valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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