Control Valve Market Size, Share and Global Trend By Motion (Linear, Rotary), By Component (Actuator, Valve Body, Others), By Application (Flow Control, Pressure Control, Others), By End-Use Industry (Oil & Gas, Chemical, Pharmaceutical, Food and Beverage, Others) and Regional Forecast, 2024-2032

The world economy is growing steadily since the recent past. The manufacturing sector has an important role to play in the growth of the world economy. Increasing demand and rising disposable income in the developing countries has boosted the textile and food and beverage industries. The production of the clothes, chemical, oil and natural gas, electric power, and drugs, among others, requires a process flow that operates in the designed or definite constraints.

In order to maintain the smooth and efficient working of these processes, various systems are used in and around the processes system. The control system is among the key methods used to ensure the functioning of the process in the given constraints. Control systems use different controllers to regulate the process conditions. Control valve being one of them is used to control the physical parameters of the process such as temperature, pressure, and flow among others

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On the basis of the motion of the valve, the control valve market is classified as linear and rotary valves. The linear valves include the gate, diaphragm, and pinch valves, among others. While, the rotary valves include ball, butterfly, and pinch valves, among others. The control valves are operated using an actuator, valve body, and other components. The control valves with pneumatic actuators are used for high-temperature applications and are economical as compared to hydraulic and electric actuators.

The control valves with hydraulic actuators are used for the applications where high pressure is involved. The control valves with electrical actuators offer high precision and can be used for both flow and pressure control applications. Based on the application, the control valves are bifurcated as flow control valves, pressure control valves, and temperature control valves, among others. The control valves have major applications in the oil and natural gas, chemical, pharmaceutical, food and beverage, and textile industries.

The control valves have applications in the control of flow, temperature, and pressure. The control valves are used for these applications in the manufacturing of chemical processes where the process safety is the priority. Owing to this, the growth of the chemical industry is expected to drive the sales of the control valves in the coming years. The pharmaceutical industry uses the control valves in order to maintain the processes at the desired temperature and pressure in order to maintain the quality of the product and safety of the operators. The growth of the pharmaceutical industry is likely to boost the growth of the control valve market during the forecast period.

Some processes at high fluctuating temperatures can cause to increase in the load inside the pipe at the end of the valve, owing to which the gate valve is subjected to leakage. This is expected to hamper the sales of the gate valves for high-temperature applications in the coming years.

Key Players Covered

Some of the key players involved in the global control valve market are Emerson Electric Co., Eaton Corporation Inc., Okano Valve Mfg. Co. Ltd., TPR Co. Ltd, Azbil Corporation, SMC Corporation, Bucher Hydraulics GmbH, SPX Flow, Albert Richter GmbH & Co. KG, AST S.p.A, Terranova S.r.l., Alpha Group Co., Ltd, SCC, Inc., Envotec Inc., Samson Controls Ltd, Belimo Aircontrols (USA). Inc., Alfa Laval AB, PT Control Systems Arena Para Nusa, and Mt. H Control Valves Ltd.

SEGMENTATION

Regional Analysis

The global control valve market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa regions. The U.S is among the key markets for the chemical and oil and natural gas industries. The growth of these industries in the U.S is expected to augment the growth of the control valves market in the North America region. The Latin America region is expected to witness a substantial increase in the oil and natural gas industry in the coming years owing to which the control valve market in the region is likely to grow at a decent pace in the region. Europe region is among the vital chemical-producing regions and has witnessed a steady growth in the textile and chemical industries in recent years. The growth of these industries in Europe is expected to drive the sales of the control valves in the region. The Middle East and Africa region are expected to create a platform for the growth of the control valve market owing to the well-established and growing chemical and oil and natural gas industries in the region. Asia Pacific region is expected to create significant opportunities for the market growth of control valves. China and India are among the key markets for the food and beverage, pharmaceutical, chemical, and textile industries. The growth of these industries in China and India is expected to add to the growth of the control valve market in the Asia Pacific region.

Key Industry Developments

• In June 2019, Eaton Corporation Inc. announced that it will supply aluminum valves and housings to the Aerospace Industrial Development Corporation. The company will provide the valves and housings for the ram air valve assembly for the advanced jet trainer.
• In June 2019, Circor International has introduced a control valve under the brand name REflex Quick change seat control valve. The control valve comes with a REact 30 DC-PoP smart actuator for high-pressure applications and noise reduction.
• In June 2019, Meggitt Plc has signed an agreement with Air Support SA for the maintenance, repair, and operations of its high-pressure engine control valves and other related equipment.