“The overall control valves market is expected to grow at a CAGR of5.33% between 2017 and 2023.” —
The overall control valves market is expected to be valued at USD 9.88 billion by 2023, growing at a CAGR of 5.33% between 2017 and 2023.The growth of this market is driven by factors such as rising demand for wireless infrastructure for maintaining and monitoring equipment in plants, revenue shift in industries, increasing demand for control valves for oil & gas and subsea applications, increased focus on proactive mechanism, rising number of nuclear plants, and enhancement of existing plants. However, lack of common platform such as Zigbee, Profibud, and Ethernet is one of the major factors restricting the growth of this market.
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“Oil & gas industry is expected to hold the largest share of the control valves market by 2023.”
The oil & gas industry is likely to account for the largest share of the of the control valves market by 2023.This market growth can be attributed to the increasing number of oil and gas projects, replacement of old valves, and rising demand for oil & gas in emerging economies such as India, China, and Russia.
“Control valves market for the energy & power industry is expected to grow at a high rate between 2017 and 2023.”
The control valves market for the energy & power industry is expected to grow at a high rate between 2017 and 2023. This industry is expected to hold a significant share of the control valves market by 2023, owing to the increased power consumption in APAC and wide applications of valves in hydro & thermal power generation plants. Control valves are also used in nuclear power plants especially in processes such as feed water, cooling water, chemical treatment, and steam turbine control systems.
“APAC is likely to dominate the control valves market by 2023.”
APAC is expected to hold the largest share of the control valves market between 2017 and 2023. This region is home to several control valves manufacturing companies. The control valves market in APAC is expected to grow at a high rate during the above-mentioned period. The high growth of this market can be attributed to the increasing demand for pipelines for oil & gas and water & waste water applications and ongoing power generation activities.
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In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key people in the control valves market.
The break-up of primary participants for the report has been shown below: By Company Type: Tier 1 – 37 %, Tier 2 – 47%, and Tier 3 – 16%, By Designation: C-Level Executives –46%, Directors – 36%, and Managers – 18%, By Region: Americas –26%, Europe – 30%, APAC – 22%, and South America – 13%, Middle East & Africa: 9%
The report profiles the key players in the control valves market. The prominent players profiled in this report include Burkert Fluid Control System (Germany), Curtiss-Wright (North Carolina), Crane Co (US), Emerson (US), Flowserve Corporation (US), Alfa Laval (US), IMI Plc. (UK), Kitz Corporation (Japan), Met so (Finland), Neway Valves (China), Velan Inc. (Canada), Samson AG (Germany), Spirax Sarco (UK), The Weir Group PLC (UK), and Pentair Plc. (UK).
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