Asia Pacific (APAC) Control Valve Market - Forecasts from 2024 to 2029

The Asia Pacific (APAC) control valves market is poised to grow at a CAGR of 6.80% thereby growing from US$4.219 billion in 2024 to US$5.863 billion in 2029.

A control valve regulates or manipulates the flow of fluids & steam and can be operated hydraulically, electrically, or pneumatically. This power-oriented tool is used to control fluid temperature, pressure, and flow by altering the flow passage size in sectors such as water treatment, power generation, mining, oil & gas, and food & beverage.

Asia Pacific is considered a manufacturing hub with major economies, namely China, India, and South Korea, among others, showing active investments in industrial automation to bolster their overall productivity. Hence, the bolstering end-user growth followed by strategic maneuvers undertaken by the market players, such as product development & launches, are driving the regional market expansion.

Asia Pacific (APAC) Control Valve Market Drivers

• Bolstering growth in the oil & gas sector is estimated to drive the market growth.

Control valve's basic purpose is to maintain the flow of liquid owing to which they find high applicability in the oil & gas sector for regulating pressure, flow, and temperature during pipeline operations and refining. Major APAC nations, namely China, is one of the leading oil & gas producers, and over the years, the country has shown interest in implementing new exploration projects to further the production scale. For instance, in June 2024, Chinese offshore crude oil producer CNOOC Limited announced that its "Enping 21-4 Oilfield Development Project" commenced production, and by 2025, the facility will achieve peak production of 5,300 barrels per day. Hence, in 2022, China accounted for 15% of the global oil consumption, with per day consumption standing at 15.15 million barrels per day.

• Favorable investment in wastewater treatment plants is stimulating market expansion.

Access to clean water has become every nation's main objective, and as the population in major regions globally is increasing, the consumption scale and demand are also increasing. Likewise, major APAC economies are also investing in enhancing their clean water access which has led to various investments being made in water treatment and wastewater management operations.

For instance, the "Kazakh-Korean Business Forum", which took place in Astana in August 2023, specified that both nations had agreed to expand their cooperation in the water sector where new technologies and enhancement of water supply systems, along with the development of new treatment facilities would focus. Likewise, as per a December 2023 press release, the Cook Labor government announced to provide $2.8 billion for the construction of Alkimos sewage desalination plant that will provide drinking water to nearly 2.5 million people living in Perth.

Asia Pacific (APAC) Control Valve Market Segment Analysis

• The water and wastewater sector will hold a considerable market share.

Based on end-users, the Asia Pacific control valve market is segmented into oil and gas, energy and power, water and wastewater, mining, and others. The water and wastewater are poised for constant growth. They will account for a remarkable market share fuelled by the high applicability of control valves for maintaining the balance and flow of the water required during the treatment process. The growing clean water scarcity in China, India, and nations in South Asia, followed by the drought situation, is driving the demand for necessary water treatment infrastructure that would bridge the gap between demand and supply of clean water, thereby driving the demand for necessary components inclusive of control valves.

• During the Forecast Period, India is expected to grow rapidly in the Asia-Pacific valve market.

Country-wise, the Asia Pacific control valve market is divided into Japan, China, India, South Korea, Indonesia, Vietnam, Taiwan, and others. India is projected to grow steadily. These countries will constitute a considerable share of the regional market fuelled by the growing oil & gas exploration activities, investments in water treatment and energy & power, and mining stations, all of which require control valves at some point.

For instance, in March 2024, the Indian Prime Minister laid the foundation stone for multiple development projects worth 7,000 crores in Hooghly and Arambagh in West Bengal, which are associated with LPG supply, water treatment, oil pipelines, and ports. Additionally, the well-established presence of market players such as General Electric, Pentair, Emerson Electric Co, Crane, and IMI PLC in the country is also acting as an additional driving factor.

Asia Pacific (APAC) Control Valve Key Developments:

• In July 2023, Rotolok Group opened its new location in New Zealand, marking the next chapter in its global expansion. The new facility would enable Rotolok to address the growing demand for valves and actuators in the region. It would also provide access to the customers for its industrial-quality rotary valves.

The Asia Pacific (APAC) Control Valve Segmentation:

By Type

• Linear Valves
• Globe Valves
• Pinch Valves
• Others
• Rotary Valves
• Ball Valves
• Plug Valves
• Butterfly Valves

By End User

• Oil and Gas
• Energy and Power
• Water and Wastewater
• Mining
• Others

By Country

• Japan
• China
• India
• South Korea
• Indonesia
• Vietnam
• Taiwan
• Others