ID: MRFR/E&P/1408-CR | October, 2020 | Region : Global
The CAGR for the Control Valve Market is 6.88% for the six years between 2020 and 2026.
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.
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.
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 Manufacturers include:
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.
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.
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.
Global Control Valve Industry 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.
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.
Cumulative Growth Analysis:
Global Control Valve Industry 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 this industry, 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.
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.
By Valve Type
By Valve Size
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.
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.
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.
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.
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.
The Control Valve Industry is key to many manufacturing operations and is used by companies in many industries for this reason. The CAGR in this industry until 2026 is slightly over 6%. The industry has seen many technological advancements that have helped drive this growth and led to the launch of a new generation of more effective products. In general, the short and long-term aspect for growth and opportunities in this industry looks bright.
1 EXECUTIVE SUMMARY
1.1. MARKET ATTRACTIVENESS ANALYSIS
1.1.1. GLOBAL CONTROL VALVE MARKET, BY VALVE TYPE
1.1.2. GLOBAL CONTROL VALVE MARKET, BY VALVE SIZE
1.1.3. GLOBAL CONTROL VALVE MARKET, BY COMPONENT
1.1.4. GLOBAL CONTROL VALVE MARKET, BY END USE
1.1.5. GLOBAL CONTROL VALVE MARKET, BY REGION
2 MARKET INTRODUCTION
2.2. SCOPE OF THE STUDY
2.3. MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1. RESEARCH PROCESS
3.2. PRIMARY RESEARCH
3.3. SECONDARY RESEARCH
3.4. MARKET SIZE ESTIMATION
3.5. FORECAST MODEL
3.6. LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.2.1. INCREASING INVESTMENTS IN WATER & WASTEWATER INDUSTRY
4.2.2. CONSTRUCTION AND UPSCALE OF NUCLEAR POWER PLANTS
4.3.1. FREQUENT NEED FOR VALVE REPLACEMENT
4.4.1. INTRODUCTION OF INDUSTRY 4.0 ARCHITECTURE
5 MARKET FACTOR ANALYSIS
5.1. VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS
5.2. PORTER’S FIVE FORCES MODEL
5.2.1. BARGAINING POWER OF SUPPLIERS
5.2.2. BARGAINING POWER OF BUYERS
5.2.3. THREAT OF NEW ENTRANTS
5.2.4. THREAT OF SUBSTITUTES
5.2.5. INTENSITY OF RIVALRY
6 GLOBAL CONTROL VALVE MARKET, BY VALVE TYPE
7 GLOBAL CONTROL VALVE MARKET, BY VALVE SIZE
7.2. BELOW 1”
7.3. 1” TO 6”
7.4. 25” TO 50”
7.5. ABOVE 50”
8 GLOBAL CONTROL VALVE MARKET, BY COMPONENT
8.2. VALVE BODY
9 GLOBAL CONTROL VALVE MARKET, BY END USE
9.2. OIL & GAS
9.3. WATER & WASTEWATER TREATMENT
9.4. ENERGY & POWER
9.6. FOOD & BEVERAGE
10 GLOBAL CONTROL VALVE MARKET, BY REGION
10.2. NORTH AMERICA
10.3.5. REST OF EUROPE
10.4.5. REST OF ASIA-PACIFIC
10.5. MIDDLE EAST & AFRICA
10.5.1. SAUDI ARABIA
10.5.3. SOUTH AFRICA
10.5.4. REST OF MIDDLE EAST & AFRICA
10.6. SOUTH AMERICA
10.6.3. REST OF SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.2. COMPETITIVE OVERVIEW
11.3. COMPETITIVE BENCHMARKING
11.4. MARKET SHARE ANALYSIS
12 COMPANY PROFILES
12.1. EMERSON ELECTRIC CO
12.1.1. COMPANY OVERVIEW
12.1.2. FINANCIAL OVERVIEW
12.1.3. PRODUCTS/INSTALLATIONS OFFERED
12.1.4. KEY DEVELOPMENTS
12.1.5. SWOT ANALYSIS
12.1.6. KEY STRATEGIES
12.2. FLOWSERVE CORPORATION
12.2.1. COMPANY OVERVIEW
12.2.2. FINANCIAL OVERVIEW
12.2.3. PRODUCTS/INSTALLATIONS OFFERED
12.2.4. KEY DEVELOPMENTS
12.2.5. SWOT ANALYSIS
12.2.6. KEY STRATEGIES
12.3. IMI PLC
12.3.1. COMPANY OVERVIEW
12.3.2. FINANCIAL OVERVIEW
12.3.3. PRODUCTS/INSTALLATIONS OFFERED
12.3.4. KEY DEVELOPMENTS
12.3.5. SWOT ANALYSIS
12.3.6. KEY STRATEGIES
12.4. ALFA LAVAL
12.4.1. COMPANY OVERVIEW
12.4.2. FINANCIAL OVERVIEW
12.4.3. PRODUCTS/INSTALLATIONS OFFERED
12.4.4. KEY DEVELOPMENTS
12.4.5. SWOT ANALYSIS
12.4.6. KEY STRATEGIES
12.5. CRANE CO.
12.5.1. COMPANY OVERVIEW
12.5.2. FINANCIAL OVERVIEW
12.5.3. PRODUCTS/INSTALLATIONS OFFERED
12.5.4. KEY DEVELOPMENTS
12.5.5. SWOT ANALYSIS
12.5.6. KEY STRATEGIES
12.6.1. COMPANY OVERVIEW
12.6.2. FINANCIAL OVERVIEW
12.6.3. PRODUCTS/INSTALLATIONS OFFERED
12.6.4. KEY DEVELOPMENTS
12.6.5. SWOT ANALYSIS
12.6.6. KEY STRATEGIES
12.7. CURTISS-WRIGHT CORPORATION
12.7.1. COMPANY OVERVIEW
12.7.2. FINANCIAL OVERVIEW
12.7.3. PRODUCTS/INSTALLATIONS OFFERED
12.7.4. KEY DEVELOPMENTS
12.8. GENERAL ELECTRIC
12.8.1. COMPANY OVERVIEW
12.8.2. FINANCIAL OVERVIEW
12.8.3. PRODUCTS/INSTALLATIONS OFFERED
12.8.4. KEY DEVELOPMENTS
12.9. FIRST RESERVE
12.9.1. COMPANY OVERVIEW
12.9.2. FINANCIAL OVERVIEW
12.9.3. PRODUCTS/INSTALLATIONS OFFERED
12.9.4. KEY DEVELOPMENTS
12.10. VELAN INC
12.10.1. COMPANY OVERVIEW
12.10.2. FINANCIAL OVERVIEW
12.10.3. PRODUCTS/INSTALLATIONS OFFERED
12.10.4. KEY DEVELOPMENTS
12.11. SCHLUMBERGER LIMITED
12.11.1. COMPANY OVERVIEW
12.11.2. FINANCIAL OVERVIEW
12.11.3. PRODUCTS/INSTALLATIONS OFFERED
12.11.4. KEY DEVELOPMENTS
12.12.1. COMPANY OVERVIEW
12.12.2. FINANCIAL OVERVIEW
12.12.3. PRODUCTS/INSTALLATIONS OFFERED
12.12.4. KEY DEVELOPMENTS
12.13. BURKERT FLUID CONTROL SYSTEMS
12.13.1. COMPANY OVERVIEW
12.13.2. FINANCIAL OVERVIEW
12.13.3. PRODUCTS/INSTALLATIONS OFFERED
12.13.4. KEY DEVELOPMENTS
12.14. NELES CORPORATION
12.14.1. COMPANY OVERVIEW
12.14.2. FINANCIAL OVERVIEW
12.14.3. PRODUCTS/INSTALLATIONS OFFERED
12.14.4. KEY DEVELOPMENTS