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Global Control Valves Market Size Study, by Component, by Size, by Product, by Application, and Regional Forecasts 2024-2032

Global Control Valves Market Size Study, by Component, by Size,...

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Global Control Valves Market Size Study, by Component, by Size, by Product, by Application, and Regional Forecasts 2024-2032
Global Control Valves Market Size...
Report Code
RO4/103/1212

Publish Date
06/Nov/2024

Pages
200
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The Global Control Valves Market was valued at USD 6.94 billion in 2023 and is anticipated to witness a robust compound annual growth rate (CAGR) of 9.4% over the forecast period 2024-2032. This market is primarily driven by the rising demand from critical end-use sectors such as water and wastewater treatment, oil and gas, and the energy and power industries. Furthermore, the increasing adoption of industrial automation across these industries is propelling the growth of smart control valves, which are gaining prominence due to their ability to optimize operational efficiency and enhance system control. The growing number of power generation plants globally and the surging need for energy, particularly from developing economies, are key factors contributing to the increasing demand for control valves.

The market is also benefiting from the growing oil and gas exploration activities across regions like the Middle East & Africa, North America, and China. These valves, especially in offshore and onshore oil production, play a crucial role in controlling not only the flow of fluids but also regulating their volume, direction, and pressure, which ensures operational safety and efficiency in these complex environments. Furthermore, stringent regulations aimed at reducing emissions are fostering the replacement of traditional valves with modern, energy-efficient alternatives. For instance, the U.S. Environmental Protection Agency (EPA) has set regulations to promote the use of electric actuators over pneumatic devices to mitigate greenhouse gas emissions.

Advancements in digitalization and automation within conventional plants are further driving the demand for advanced control valves. Control valves equipped with digital intelligence form an integral part of modern plant asset management strategies, allowing operators to monitor and optimize performance in real time. Leading manufacturers are heavily investing in research and development activities to keep pace with the evolving demands of various industries, particularly in the wake of rising environmental and economic pressures.

The Asia Pacific region dominated the market in 2022, accounting for the largest share of revenue, and is expected to continue growing at the fastest CAGR throughout the forecast period. The region's rapid industrialization, particularly in China and India, and increasing demand for automated systems across various industries are boosting the market. North America is also projected to experience steady growth, driven by technological advancements and the rising trend of process automation in the energy, water, and wastewater sectors.

Major market players included in this report are:
Emerson Electric Co.
Flowserve Corporation
IMI plc
Alfa Laval AB
AVK Holding A/S
Eaton
Honeywell International, Inc.
Velan Inc.
Burkert Fluid Control System
Valvitalia SpA
CIRCOR International, Inc.
Archer Aviation Inc.
Spirax Sarco
Aquana
Chart Industries
The detailed segments and sub-segments of the market are explained below:
By Component:
Valve Body
Actuators
Others
By Size:
Less than 1
Between 1 to 6
Between 6 to 25
Between 25 to 50
More than 50
By Product:
Linear
Gate
Diaphragm
Others
Rotary
Ball
Butterfly
Plug
By Application:
Oil & Gas
Chemicals
Energy & Power
Water & Wastewater Treatment
Food & Beverages
Pharmaceuticals
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

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