The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Control Valve Global Market Report 2024 offers crucial insights into the control valve market help businesses analyse and build stronger strategies.

The control valve market has witnessed rapid expansion in recent years, driven by various factors such as industrial expansion, regulatory compliance, and energy sector dynamics. This growth trajectory is set to continue, with forecasts indicating significant market expansion in the coming years.

Current Market Scenario

• In 2023, the control valve market was valued at $6.75 billion, with a projected growth to $7.63 billion in 2024, marking a notable compound annual growth rate (CAGR) of 13.0%.
• Factors contributing to this growth include industrial expansion, regulatory compliance, energy sector dynamics, infrastructure development, safety and environmental concerns, globalization, and the upgradation of aging infrastructure.

Future Growth Prospects

• Projections suggest further robust growth, with the market expected to reach $12.2 billion by 2028, exhibiting a CAGR of 12.5%.
• Anticipated drivers of growth include a focus on energy efficiency, environmental sustainability, demand for high-performance valves, preventive maintenance strategies, expansion in emerging markets, and market consolidation.
• Major trends shaping the forecast period include the integration of smart valve technology, Industry 4.0 and IIOT integration, digitalization and remote monitoring, modular valve design, and the use of advanced materials and coatings.

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Surging Demand In Oil & Gas And Power Industries Propels Growth

• The growing oil & gas and power industries are expected to be primary drivers of market growth.
• Expansion in these sectors necessitates the installation of control valves for processing and distribution.
• Notable statistics from the Energy Information Administration highlight significant increases in crude oil production and electricity net generation in the US, indicating substantial demand for control valves.
• Major companies operating in the control valve market include Schlumberger Limited, Alfa Laval AB, Conbraco Industries Inc., and others.

Featured Valve Innovations for Enhanced Flow Balancing

• Leading companies in the control valve market are innovating with featured valves to enhance flow balancing in control valve applications.
• Examples include butterfly valve ranges designed to address challenges in complex process conditions.
• Valmet’s Neles Q-Disc, launched in July 2022, offers high-performance flow balancing capabilities, addressing issues such as cavitation and noise reduction.
• This modular option contributes to improved reliability and efficiency in overall process operations.

Strategic Acquisitions Strengthen Market Presence

• Strategic acquisitions play a crucial role in expanding market reach and capabilities.
• In February 2023, Motion & Control Enterprises acquired Precision Pump & Valve (PPV), enhancing its service portfolio and geographical presence.
• PPV specializes in safety relief and control valves, pumps, and related process equipment, primarily serving industries such as oil and gas, petrochemicals, and chemical processing.

Market Segmentation

• The control valve market is segmented based on type (linear, rotary), component (valve body, actuator, other components), material (stainless steel, alloy-based, cast iron, cryogenic, other materials), and industry (oil and gas, water and wastewater treatment, energy and power, pharmaceuticals, etc.).
• North America emerged as the largest region in the control valve market in 2023.

Conclusion

The control valve market is poised for significant growth driven by various factors such as industry expansion, technological innovation, and strategic acquisitions. As industries continue to prioritize efficiency, sustainability, and compliance, the demand for advanced control valve solutions is expected to soar, presenting lucrative opportunities for market players across the globe.

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The Control Valve Global Market Report 2024  provides a comprehensive outlook of the control valve market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The control valve market forecast offers a thorough analysis on control valve market size, control valve market share, prominent players and their strategies.

The Table Of Content For The Control Valve Market Include:
1. Control Valve Market Executive Summary
2. Control Valve Market Segments
3. Control Valve Market Size And Control Valve Market Growth Rate
4. Key Control Valve Market Trends
5. Major Control Valve Market Drivers
……
25. Key Mergers And Acquisitions In The Control Valve Market
26. Top Control Valve Companies
27. Control Valve Market Opportunities And Strategies
28. Control Valve Market, Conclusions And Recommendations
29. Appendix

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