Advancements in automatic control technology has instrumented the increasing applications of mechanical control components such as control valves. Several industrial processes are being automated, and control valves are being used to control the flow of fluids. New control valves are being equipped with smart technologies and high-tech sensors that can gauge the pressure, liquid level and temperature effectively. Manufacturers are also working towards increasing the accuracy of control valves in measuring as well as controlling the flow rate directly.
Fact.MRs’ latest forecast study assesses that the global control valve market will expand steadily during the forecast period, 2017-2026. Increasing industrialization and growing use of pneumatics in mechanical processes will drive the adoption of control valves to a considerable extent. The global control valve market will register expansion at a 5.4% CAGR in terms of volume over, the forecast period. By the end of 2026, control valves worth over US$ 15.5 Bn are expected to be sold across the globe.
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4 Key Insights from Fact.MR’s Forecast
The report has provided loads of objective information on the forecast expansion of the global control valve market for the forecast period, the highlights of which follow:
- Through 2026, majority of control valves being manufactured in the world will be developed on pneumatic actuation technology. The report estimates that by the end of 2026, more than 6,100 thousand units of pneumatic control valves will be sold globally.
- Ball valves and globe valves will be recognized as top-sellers in the global control valve market. By 2026-end, nearly 10,000 thousand units of ball-type and globe-type control valves are expected to be sold globally. The report also estimates a surging demand for butterfly valves, and expects that this type of control valve will reflect a 6% CAGR in terms of volume over the forecast period.
- Throughout the forecast period, control valves will be predominantly used in oil & gas applications. By the end of 2026, oil & gas applications of control valves will account for more than one-fourth share of global control valve market volumes. The report also reveals that water and wastewater management applications of control valves will register fastest sales by reflecting a 6.4% volume CAGR over the forecast period.
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- Robust industrial infrastructure in the US and Canada will drive the adoption of control valves across North America. The report observes North America as the largest market for control valves. By 2026-end, North America will account for more than 30% of global control valve market volumes. The report also observes that control valve manufacturing will remain concentered in the Asia-Pacific excluding Japan (APEJ) Over the forecast period, the APEJ control valve market is assessed to expand at the highest volume CAGR of 5.8%.
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The report has also profiled the leading manufacturers of control valves, which include Schlumberger Limited, Emerson Electric Co., General Electric Company, Honeywell International Inc., Flowserve Corp, Goodwin International Ltd., Dresser Inc., Metso Plc, Crane Co., Burkert Fluid Control Systems, Pentair Limited, Velan, Inc., Samson AG, Dual Products Intl. Cc, IMI Plc., MIL Control Limited, Neway Valves, Curtiss-Wright, and Spirax Sarco. These companies are expected to spearhead the global control valve manufacturing landscape through 2026.