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Control Valve Market Research Report Information By Valve Type (Rotary valves [ball valves, butterfly valves, plug valve], linear valves [globe valves, diaphragm valves, others]), Valve Size (Below 1”, 1” To 6”, 25” To 50” and Above 50”), By Material ( Stainless Steel, Cast Iron, Alloy-based, Cryogenic, Others) by Component (Valve Body, Actuator and Others), End-Use (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverage, Pharmaceuticals and Others) - Forecast till 2032


ID: MRFR/E&P/1408-CR | 155 Pages | Author: Priya Nagrale| October 2020

Control Valve Market Overview:


Control Valve Market Size was valued at USD 5.77 Billion in 2022. The Control Valve industry is projected to grow from USD 5.84 Billion in 2023 to USD 15.50 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2024 - 2032).


The Control Valve Market covers many types of valves that are used in many industries. Some examples of these are globe valves and ball valves. A variety of industries use these valves. These (industries) include oil and gas, chemicals, and energy.


Rapid growth in this market is largely spurred by intensive investment in oil pipeline and infrastructure development. These are two factors that have traditionally driven the increase in the usage of control valves in general. The global move towards reliance on alternative energy instead of fossil fuels has created the need for more solar thermal energy plants which rely on control valves for operation.


Control Valve Market COVID-19 Analysis:


The COVID-19 pandemic has driven many companies in the Control Valve Industry to temporarily cease business operations. The stricter and greater government regulations that have recently been issued have compelled them to take this action. Governments around the world are passing stricter regulations regarding business operations in an attempt to control and contain the pandemic.


The newer and stricter government-imposed rules and regulations have also affected these companies’ ability to procure raw materials. These companies are finding that procuring sufficient raw materials needed to make various types of control valves at affordable and cost-effective prices is very challenging. However, the long-term outlook for the Global Control Valve Market is very good because of the greater demand for these devices from pharma and healthcare companies - these companies are trying to find solutions to contain COVID-19.


Control Valve Market Competitive Landscape:


Because there are no high barriers to entry, there are many Control Valve Manufacturers - small and large. This has made the industry highly competitive. These companies have had to be creative and use innovation to survive. Most notably, they have strengthened their position. They have done this through more research and development, new product launches, M&A, and strategic joint ventures.


Some of the more Important Control Valve Market Manufacturers include:



  • Neles Corporation

  • Burkert Fluid Control Systems

  • Schlumberger Limited

  • Samson

  • Velan Inc

  • First Reserve

  • General Electric

  • Curtiss-Wright Corporation

  • Eaton

  • Crane Co.

  • Alfa Laval

  • IMI Plc

  • Flowserve Corporation

  • Emerson Electric Co


Emerson Electric Co has been an important player in the Control Valve Industry. The fact that it has recently introduced some new products with many useful manufacturing applications has cemented its leading market position. Some of these new products are Fisher, Crosby, and Kunkle.


Recent Developments in Control Valve Market:



  • The GMDA recently started its project to manage water systems in India. Some key locations include Basai and Dhanwapur. The objective is to monitor, regulate, and control drinking water systems in these areas.

  • Rockwell and Schlumberger have recently created the JV Sensia. This new company will provide integrated digital solutions in terms of manufacturing for and processing crude oil.

  • Flowserve sold its division Gestra AG to solidify its holdings. The move will allow Flowserve to concentrate solely on its manufacturing operations.

  • Total Valve’s new product MobileTrack will allow manufacturing majors to analyze valve data remotely and on digital and mobile devices.

  • Auma Profox actuators are helping people in Qatar with their air conditioning needs.


Control Valve Market Dynamics:


Drivers:


Control Valves are the basis of any manufacturing process. That’s the reason why manufacturing companies in many industries depend on control valves to drive their basic business operations. There has been increased demand for control valves from the oil and gas and energy industries. The reason being that these companies are increasingly trying to find effective solutions in both the alternative energy and traditional oil and natural gas industries.


Opportunities:


Companies that manufacture control valves can take advantage of many opportunities for growth in the post-COVID-19 world. One of the main phenomena that are creating many more opportunities in this industry is the increased automation of many basic and more complex manufacturing tasks and processes. Added to this is the fact that the oil and gas, energy, and pharma industry is investing heavily in the technologies that produce control valves. This is a global phenomenon. For example, they are helping pharma companies make sanitizers and medicines that will help fight COVID-19.


Restraints:


Global Control Valve Market does indeed face some challenges in terms of short and long-term growth. The good news is that these are not insurmountable. One is the lack of standards in terms of manufacturing control valves. This creates problems in terms of forwarding and backward integration with certain industrial devices. The other main challenge is the fact that control valves are neither compatible nor interchangeable with many devices. The industry also lacks standard certifications.


Challenges:


One main challenge facing the Global Control Valve Market is the lack of standardization. This creates real problems when trying to create different brands of Control Valves. For example, India alone has more than 600 control valve manufacturers. Thus, branding and uniqueness is a real issue. The lack of certification has also been a key issue.


Control Valve Market Cumulative Growth Analysis:


Global Control Valve Market is expected to grow at a healthy rate of more than 6% a year for the next six years. The current COVID-19 pandemic may be causing a temporary hiccup in Control Valve Market, but demand is expected to surge once the pandemic has passed. This is large because of new government regulations that are permanent and because companies are restructuring themselves to deal with a more digital and remote work environment.


Control Valve Market Technology Analysis:


The Control Valve, and especially the butterfly valve, has seen many technological advancements and innovations in recent years. One of these is the control disk. This makes the butterfly valve more efficient in manufacturing applications.


Control Valve Market Segment Overview:


By Valve Type




  • Rotary valves

    • ball valves

    • butterfly valves

    • plug valve




  • linear valves

    • globe valves

    • diaphragm valves

    • others




By Material



  • Stainless Steel

  • Cast Iron

  • Alloy-based

  • Cryogenic

  • Others


By Valve Size



  • BELOW 1”

  • 1” TO 6”

  • 25” TO 50”

  • ABOVE 50”


By Component



By End-Use



  • Oil & Gas

  • Water & Wastewater Treatment

  • Energy & Power

  • Chemicals

  • Food & Beverage

  • Others


By Service


While the Control Valve has many useful applications, especially in terms of making medicines and other health-related products, the most important control valve may be the butterfly valve. This is large because of the recent innovations and technological advancements to make it more useful to many industries. However, the check, ball, diaphragm, and gate valves are equally important.


By Technology


Some of the more recent technological advancements are the hall effect sensor and the digital Fieldbus protocols. The former use the latest in sensor technologies to monitor and operate the valves remotely. They have been instrumental in substantially improving the manufacturing processes in many industries. The latter allows control valves to think intelligently and make important decisions accordingly. They can now connect instruments in manufacturing plants much more efficiently. Far less cable is required to do this.


By Type


There are many types of Control Valves. These are the check, ball, diaphragm, butterfly, and gate valves. They have many industrial applications. These include end-use, component, valve size, and valve type.


By Vertical


As mentioned earlier, many industries use different types of Control Valves. Some of these industries include pharma, food, and beverage, chemicals, energy and power, water and wastewater treatment, oil and gas, etc.


Control Valve Market Regional Analysis:


The APAC region ‘Leads the Pack’


Indeed, the APAC region is seeing the strongest growth in terms of usage of Control Valves. This has largely been driven by greater investments in energy and power. Faster economic growth has jump-started the construction industry as well. This is especially true in India and China. Both nations have been investing heavily in control valve technology to advance their pharma, energy and power, and food and beverage industries. However, other industries have seen strong investment and growth.


The second strongest region for growth in the Control Valve Market is the North American region. The fact that many large companies in key industries need control valves accounts for some of this growth. So, does increased demand for safety products (like hand sanitizers and prescription medicines). More investment in traditional industries like water and wastewater management, energy and power, and oil and gas has also been a strong and contributing factor.

Report Attribute/Metric Details
  Market Size 2022    USD 5.77 Billion
  Market Size 2023    USD 5.84 Billion
  Market Size 2032    USD 15.50 Billion
  CAGR   11.20% CAGR (2024-2030)
  Base Year   2023
  Forecast Period   2024-2030
  Historical Data   2019 & 2021
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Valve Type, Valve Size, Component and End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Neles Corporation, Burkert Fluid Control Systems, Schlumberger Limited, Samson, Velan Inc, First Reserve, General Electric, Curtiss-Wright Corporation, Eaton, Crane Co., Alfa Laval, IMI Plc, Flowserve Corporation, Emerson Electric Co
  Key Market Opportunities   The increased automation of many basic and more complex manufacturing tasks and processes
  Key Market Drivers Increasing investments in water & wastewater industry Construction and upscale of nuclear power plants


Frequently Asked Questions (FAQ) :

Some of the key players based out of North America are Emerson Electric Co. (US), Flowserve Corporation (US), Velan Inc. (Canada), Schlumberger Limited (US), etc.

11.20% is the expected CAGR of the market during forecast period.

The control valve market is expected to gain traction of the construction industry owing to rising use of the product in regulating water flow in liquid in firefighting systems, water supply systems, piping systems, etc.

Control valves are effective in performing applications such as control flow of fluids, regulate fluid level, control temperature, etc.

The valve size based segments are less than 1”, 6" to 25", 1" to 6", 25" to 50", and 50" & above

The different types of valves are - gate valve, diaphragm valve, globe valve, ball valve, check valve, butterfly valve, and others

The market is expected to earn USD 15.50 Billion by 2032.

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