Latest Study on “Control Valve Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Control Valve market size is expected to be worth around US$ 12.2 billion by 2027, according to a new report by nova one advisor.
The global Control Valve market size was valued at US$ 5.5 billion in 2020 and is anticipated to grow at a CAGR of 9.60% during forecast period 2021 to 2027.
Overview of Control Valve Market Study
Control Valve market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.
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The market is driven by rising demand from end use industries such as water & wastewater treatment, oil & gas, and energy & power industry. Additionally, increasing adoption of industrial automation is boosting the use of smart control valves, which is further expected to boost the market growth over the forecast period.
Growing power generation plants across the world and increasing the need for energy and power from developing economies is driving the demand for control valves. These valves are also used in nuclear power plants especially in processes such as chemical treatment, feed water, cooling water, and steam turbine control system.
With the rapid spread of COVID-19, healthcare and pharmaceuticals industries are at the forefront of combating the pandemic. There is a rise in the production of critical medical devices that are required to cure COVID-19 patients. Control valves play an important role in the manufacturing of different types of medical devices, and several key industry players have grabbed the opportunity to contribute to the fight against the pandemic. Companies are increasingly investing in the research and development pertaining to automatic components, such as solenoid valves, that are supplied to the pharmaceuticals industry. Likewise, pharmaceuticals companies are looking to develop sophisticated fluid handling systems, such as automatic sanitizer dispensers and liquid soap dispensers, which, in turn, is creating the need for valves.
Valve manufacturers need to adhere to certain norms and regulations. Different regions have different certifications and policies with respect to valves. This factor creates diversity in demand due to the wide applicability of valves in various industries, such as oil & gas, food & beverages, pharmaceuticals, energy & power, water & wastewater treatment, building & construction, chemicals, and pulp & paper. However, such diversity is hindering the growth of the valves market as industry players have to amend the same product according to the regional policies, which makes it difficult for the valve manufacturers to achieve an ideal cost of installation.
The COVID-19 pandemic has made people more concerned about sanitation and clean water. Water & wastewater treatment is among the essential services, and hence, the plants are operational for all residential services. Additionally, the aging infrastructure in the water & wastewater treatment industry is the primary concern in several countries. For instance, the US has a wide network of old pipelines that are used for transporting water and wastewater. Valves used in old infrastructure are also on the verge of replacement as they have surpassed their operational life. Hence, it is important to replace such valves for improved performance and better worker safety.
The COVID-19 pandemic has forced governments worldwide to take drastic measures to protect public health in 2020. This global health crisis has also dented economic growth prospects and upended the oil market. The oil market has been supported by the additional production adjustments put in place by OPEC and non-OPEC countries in the Declaration of Cooperation for the first quarter of 2020. In the last week of March and the entire April, all the indices have deteriorated in terms of economy, stocks, equities, financial instruments, metals, commodities, and oil. Since the beginning of 2020, crude oil prices have decreased dramatically.
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COVID-19 Impact on Control Valve Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Control Valve market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Control Valve market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Control Valve market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Control Valve market include:
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
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
Control Valve Market Based On Material:
- Stainless Steel
- Cast Iron
Control Valve Market Based On Component:
- Valve Body
Control Valve Market Based On Type:
- Rotary Valves
- Ball Valves
- Butterfly Valves
- Plug Valves
- Linear Valves
- Globe Valves
- Diaphragm Valves
- Other Valves
Control Valve Market Based On Size:
- Upto 1”
Control Valve Market Based On Industry:
- Oil & Gas
- Water & Wastewater Treatment
- Energy & Power
- Food & Beverages
- Building & Construction
- Paper & Pulp
- Metals & Mining
Asia Pacific dominated the global market in 2017 owing to the presence of emerging economies such as China and India. Companies are investing heavily in valve and actuator manufacturing, along with technologies, which need to be associated to convert them into smart valves. This is due to the rising demand for automated valve operations in industries such as water & wastewater, food & beverage, energy & power, and pharmaceutical. The Middle East & Africa region is expected to witness a second-highest CAGR of 6.75% over the forecast period.
In North America, the U.S. dominated the market owing to excessive demand for valve replacement from a large number of active projects in the region. For instance, the U.S. and Canada currently have around 1,900 projects requiring valve replacement and simultaneous up-gradation in existing facilities. The region is estimated to witness a CAGR of 6.55% over the forecast period.
Why Buy this Report?
The purpose of Nova one advisor’s Control Valve market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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