Market Highlights:
Control valve are used by various industrial sectors that include oil & gas, waste water management, automotive, pharmaceuticals, chemical and others in order to control temperature, flow, and pressure by received signals from the controllers. The primary factor that drives the growth of control valve market is growing investment in fluid handling system, increasing need of automation and rising industrial infrastructure projects among others. According to a recent study report published by the Market Research Future, The global market of Control Valve is booming and is expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Control Valve device plays an important role in increasing efficiency, safety, and profitability of the process industries. Furthermore, the original equipment manufacturers (OEMs) of control Valve are constantly engaging in research & development activities to design their products in accordance with the changing requirements in numerous industries. However, the lack of technical expertise among instrument engineers may hinder the growth of control valve market.
Control Valve Market is expected to show a considerable growth rate in coming five years (2016-2022). The growth is majorly driven by the gradual increase in the need for automation in the process industry, the rising number of industrial infrastructure projects in developing countries, and the ever increasing investment across all the process industries especially, in oil & gas industry.
Countries such as Brazil, Russia, India and China and the Middle East Region continue to support control valve market. Due to the rising population, high consumption of energy from the middle class family and the need for energy efficient device is boosting the control valve market in the region.
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Major Key Players:
- Burkert Fluid Control Systems (Germany)
- Crane Co. (U.S.)
- Velan, Inc. (Canada)
- Pentair Limited (UK)
- Flowserve Corporation (U.S.)
- Dual Products Intl. Cc (South Africa)
- Metso Corporation (Finland)
- Samson AG (Germany)
- MIL Control Limited (India)
- IMI Plc. (UK)
Industry News:
24 May 2017:
Bürkert is one of the world’s leading manufacturers of measurement and control systems for liquids and gases.The company designed its new control valve islands named AirLINE (Type 8652) for control cabinets. The valve island is easy to install and its integrated monitoring and diagnostic functions improve process reliability.
May 01, 2017:
Crane Co. a diversified manufacturer of highly engineered industrial products, announced that it has acquired Westlock Controls (“Westlock”) from Emerson Electric Co. for cash consideration of $40 million. Westlock is a global leader in the manufacturing and sale of switchboxes, position transmitters and other solutions for networking, monitoring and controlling process valves. Their partnership will bring to development of innovative control product.
April 28, 2017:
Pentair Plc a major player in control valve market. The company announced it has completed the sale of its valve & controls business to Emerson Electric Co. for $3.15 billion, subject to customary working capital adjustments. The company projects it is a major control valve device manufacturer that comprise accuracy and advanced technology implementation.
Control Valve Global Market Competitive Analysis:
The Market of Control Valve appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Control Valve Global Market Segmentation:
The control valve market is segmented into four key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type : ball valve, butterfly valve, cryogenic valve, and globe valve among others
Segmentation by Components:positioners, switches, transducers, actuators, PC diagnostic software and pneumatic lock up systems among others.
Segmentation by End-Users:Oil & gas, chemicals, food & beverage, automotive, metal & mining and pharmaceuticals among others.
Segmentation by Regions: North America, Europe, Asia Pacific and rest of the world.
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Control Valve Global Market Regional Analysis:
North America is dominating the Global Control Valve Market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022.
Owing to presence of technologically advanced R&D sector in this region to provide extensive control valve automation solution to the industry. Control Valve Market in Asia-Pacific market is expected to witness a fastest growing CAGR during 2016 to 2022 due to investment in control valve market by emerging economies such as China and India. Increasing demand for control Valve from the oil & gas, chemicals, and water & wastewater industries is driving the market in Asia Pacific region.
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