The Control Valve Is Expected To Surpass A CAGR Of Over 13% From 2021-2031

Posted on 2022-11-03 by Fact.MR in Industrial // 0 Comments

Fact.MR’s report predicts the global control valves market to be valued at US$ 17 Bn by reaching a CAGR of over 13% in the forecast period 2021-2031. Manufacturers of control valves are focusing on developing valves that would keep the work flow at production units uninterrupted.

Over the last five years, between 2016 and 2020, the global control valve market exceeded a market value of US$ 5 Bn, growing at around 5% CAGR across the historical period. The coronavirus pandemic had dual effects- initially a global contraction owing to demand-supply disequilibrium- and an increase in control valves for hygiene and disinfection purposes.

Advancements in automatic control technology has instrumented the increasing applications of mechanical control components such as control valves. Several industrial processes are being automated, and control valves are being used to control the flow of fluids. New control valves are being equipped with smart technologies and high-tech sensors that can gauge the pressure, liquid level and temperature effectively. Manufacturers are also working towards increasing the accuracy of control valves in measuring as well as controlling the flow rate directly.

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Key Takeaways from the Market Study

By type, electric control valve type expected to hold highest share for sales, expanding at over 6.6% CAGR
Ball valves to experience heightened prospects, reflecting a 6% CAGR to reach 10,000 units by 2026
Control valve industry expected to register CAGR around 30% throughout North America
Control valve industry expected to register CAGR of 5.8% in the Asia Pacific region.
U.S., Canada, China and Japan to dominate control valves market.

“Increasing demand from end user industries such as oil & gas, chemical and wastewater management is boosting the sales of control valves.” opines a Fact.MR analyst

How have Hygiene Concerns Spurred Control Valves Adoption during COVID-19?

The COVID-19 pandemic has affected businesses on various levels. Increasing numbers of coronavirus cases have divulged the attention to sanitation of surroundings. Thus, demand from residential and commercial sectors for control valves has increased over time.

Frequent disinfection cycles across residential and commercial settings have bolstered demand for different categories of control valves. Although, in the first half, sales dipped amid shortage of adequate inventory in response to the ever aggrandizing demand. This was eventually offset as the disequilibrium vanished.

Alfa Laval, for instance, experienced a significant increase in demand for its Mixproof valves which provide maximum flexibility and safety in hygienic flow processing by making it possible to handle multiple fluids simultaneously, without any cross-contamination risk.

Country-wise Analysis

What Growth Prospects Abound across North America?

The presence of manufactures of control valves along with the increasing presence of end users is driving the sales of control valves in the region. Robust industrial infrastructure in the U.S and Canada will drive the adoption of control valves across North America.

Thus, the market is expected to be the largest for control valves. By the end of the sales period in 2031, North America will account for more than 30% of global control valve market volumes.

Category-wise Insights

How are Electric Valves Driving Market Growth for Control Valves?

End users are highly favouring electric control valves due to their usability factors. Electric control valves immediately start after installation. Thus, they save time and money for manufacturing units. In addition, the installation time taken for electric control valves is less in comparison to other types of valves.

Thus, the electric valves will drive the adoption of control valves developed on electric actuation technology. Over the forecast period, electric control valves are estimated to register highest CAGR of 6.6% in terms of volume.

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Competitive Landscape

Key manufacturers in the control valves industry are Emerson Electric Co., Schlumberger Limited, Honeywell International Inc., General Electric Company, Goodwin International Ltd., Flowserve Corp, Metso Plc, Dresser Inc., Burkert Fluid Control Systems, Crane Co., Velan Inc., Pentair Limited, Dual Products Intl. Cc, Samson AG, MIL Control Limited, IMI Plc., Curtiss-Wright, and Neway Valves.

Manufacturers are developing advanced control valves, equipping them with smart technologies and sensors that can facilitate highly accurate measurement across multiple parameters such as liquid levels, pressure and temperature. Some prominent developments include:

In February 2020, Emerson Electric Co. introduced the ASC Series 158 Gas Valve and Series 159 Motorized Actuator. Designed specifically for burner-boiler applications, the new products provide end users a new shutoff option which increases safety and reliability

Likewise, In November 2019, Bürkert has developed a redundancy block with valves and pressure switches for applications with high safety requirements. For a redundant switch-off option, they are installed pneumatically in a row behind the valves on the valve terminal.

In March 2021, Emerson launched two way and three way solenoid valves. These valves support OEM’s to develop compact machines and equipment.
In Feburary 2020, Schlumberger opened a manufacturing center in King Salman Energy Park (SPARK), Saudi Arabia, which supports Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) program to promote economic growth.
The center will manufacture various technologies, including liner hangers and packers, and valve technologies such as GROVE valves and ORBIT rising stem ball valves, to help improve the efficiency of oil and gas operations in the kingdom and neighboring countries.

Key Segments Covered

· Actuation Technology

- Manual Control Valve
- Pneumatic Control Valve
- Hydraulic Control Valve
- Electric Control Valve

· Valve Type

- Ball Control Valve
- Butterfly Control Valve
- Globe Control Valve
- Plug Control Valve
- Other Control Valves

· Application

- Control Valves for Metal & Mining
- Control Valves for Pulp & Paper
- Control Valves for Power Generation
- Control Valves for Oil & Gas
- Control Valves for Chemicals
- Control Valves for Food & Beverages
- Control Valves for Automotive
- Control Valves for Pharmaceuticals
- Control Valves for Water & Wastewater Management
- Control Valves for Other Applications

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