PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473663
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473663
The global Control Valve market is expected to grow from USD 10.0 billion in 2024 to USD 13.0 billion by 2029, registering a CAGR of 5.4%. Control valve expansion in the global market has surged due to heightened industrial automation, a quest for enhanced process control, and innovations in valve technology, resulting in improved efficiency and reliability.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Material, Component, Size, Type, Industry and Region |
Regions covered | Asia Pacific, North America, Europe, and Rest of the World |
"Valve Body segment to grow at highest CAGR in Control Valve market."
The valve body segment is experiencing robust growth in the market. The primary component of a valve assembly, the valve body, functions to consolidate all internal components. Typically crafted from metals like brass, bronze, cast iron, alloy steels, stainless steels, or plastics, it serves as the initial pressure barrier in a valve, withstanding fluid pressure from connected pipelines. Through threaded, bolted, or welded joints, it accommodates inlet and outlet piping, commonly manufactured through casting or forging methods in diverse configurations..
"Stainless steel material segment accounted for the largest share of the Control Valve market in 2023."
The control valve market has witnessed substantial growth in the utilization of stainless steel material. This surge is attributed to stainless steel's corrosion resistance, durability, and versatility across diverse industrial applications. Its robust properties meet the escalating demand for reliable and long-lasting valve systems, cementing its position as a preferred choice in the market.
"Rotary valves segment to grow at highest CAGR in Control Valve market."
The Rotary valves segment is experiencing robust growth in the market. The control valve market has experienced significant growth with the increasing popularity of rotary valves. Known for their precise control and dependable performance, rotary valves are favored in various industries such as oil and gas, chemicals, and power generation. Their effective flow regulation capabilities, alongside advancements in design and materials, have propelled their prominence and adoption in the market.
>6"-25" segment accounted for the largest share of the Control Valve market in 2023."
The global market for control valves sized >6"-25" has experienced significant growth, spurred by expanding industrial infrastructure, particularly in energy, oil and gas, and water treatment sectors. Rising automation requirements and advancements in valve design have contributed to this expansion, meeting varied industrial demands across the globe.
"Oil & Gas to hold largest market share in the year 2023."
In the oil and gas industry, control valves have experienced substantial growth due to technological advancements and heightened demands for efficiency, safety, and environmental compliance. These valves play a crucial role in regulating fluid flow within pipelines and processing systems, ensuring precise control over parameters such as flow rates, pressures, and temperatures. Their evolution has significantly enhanced operational reliability and performance across various sectors, including exploration, production, refining, and distribution, meeting the industry's evolving needs effectively.
"Asia Pacific to be the fastest growing region in the forecast period."
Control valve market in the Asia Pacific has experienced substantial growth owing to factors like industrialization, infrastructure expansion, and rising demand for process automation in sectors such as oil & gas, power generation, and water & wastewater treatment. Technological advancements and the uptake of smart valve solutions have further fueled this expansion. The trend is anticipated to persist as industries prioritize improved efficiency, reliability, and safety measures in their operations.
The major players in the market are Emerson Electric Co. (US), Flowserve Corporation (US), IMI (UK), SLB (US),
The Control Valve market has been segmented into Component, Material, Type, Size, Industry, and regions. The Control Valve market was studied in North America, Europe, Asia Pacific, and the Rest of the World (RoW). The report describes the major drivers, restraints, challenges, and opportunities of the Control Valve market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Control Valve ecosystem.
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the Control Valve market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.