Know More About “Control Valves Market 2018-2025” Growth Worldwide….Posted by Mrudula Anil Karmarkar on April 8th, 2021 The global control valves market size is expected to reach USD 11.85 billion by 2025, according to a study conducted by Grand View Research, Inc., rising at a CAGR of 6.50% during the forecast period. Surging demand from industrial sectors such as energy & power, water & wastewater treatment, and oil & gas industry and growing adoption of industrial automation propelling the smart control valves market are fueling the demand for control valves. Additionally, rising demand for control valves in the pharmaceutical and food & beverages industries is expected to drive the market. The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor. Increasing adoption of control valves is rising continuously owing to the benefits they offer in controlling temperature and pressure throughout the downstream, midstream, and upstream activities. Therefore, growing oil & gas exploration activities are triggering the demand for control valves. Control valves offer various benefits of installing modernized and sophisticated fluid handling systems. In the pharmaceutical industry, there is a rising demand for fluid handling systems, owing to safety procedures in order to manufacture a hygienic and safe product. These sophisticated fluid handling mechanisms are helpful in speeding up the manufacturing process, thus ensuring optimal performance. Moreover, the food & beverages industry utilizes control valves to speed up the manufacturing process and ensure the hygiene of end products such as packaged food. Surging demand for packaged food is augmenting the control valves market growth. This is due to the application of flow control devices with suitable control valve design and technology for improved quality of end product. Further key findings from the study suggest:
Asia Pacific is expected to dominate the market owing to increasing demand from the energy & power and water & wastewater industries. These industries are investing heavily to automate their flow-control processes, so as to increase production efficiency and simultaneously reduce error ratio. Furthermore, expanding the production of oil sands and shale gas in North America and rising oil & gas exploration activities in regions such as Middle East and Africa, and Asia Pacific are accelerating the demand for control valves 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. Moreover, high-pressure, high-temperature and adverse corrosion conditions experienced with production and refineries platforms have also led to a rise in demand for control valves. These platforms are mainly used in offshore and onshore oil & gas activities. These valves are used in most of the essential mechanisms in the oil & gas industries. It not only controls the flow, but also volume, direction, rate, and pressure of fluids. Control valves are extensively used in process industries such as food & beverages, oil & gas, water & wastewater, petrochemical, energy & power, and pharmaceutical to reach growing automation needs. They play a vital role in increasing the end-use industry’s profitability, safety, and efficiency for multiple production processes. Furthermore, the adoption of control valves in industries is constantly rising owing to benefits they offer in terms of temperature or pressure control throughout downstream, midstream, and upstream activities. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/1780/ibb A growing number of oil & gas exploration activities in regions such as Middle East & Africa, China, and North America is estimated to provide an upthrust to the market. The market is said regions is projected to witness healthy growth over the forecast period. Additionally, stringent regulations pertaining to environment legislations for end-use industries in Asia Pacific, North America, and Europe are playing an important role in driving the market. For instance, the U.S. Environmental Protection Agency (EPA) has mandated to limit use of traditional spring diaphragm actuators, which are used to actuate valves at the wellhead, in order to reduce greenhouse gas emissions. The regulatory body suggested to replace it with electric actuators with pneumatic devices, which can help to reduce methane and volatile organic compounds (VOC) emissions. Several control valve companies are investing in powerful, state-of-the-art control instrumentation as a result of spiraling demand for technologically advanced products from emerging end-use industries. This is poised to result in growing competitive, environmental, and economic pressures to offer high-rated products with a shorter return on investment. Owing to the integration of digital intelligence, these technologically advanced control valves are one of the key elements of an effective plant asset management strategy. Moreover, the growing trend of digitalization and automation in conventional plants is leading to higher demand for control valves. Therefore, control valve manufacturers are constantly engaging in R&D activities to design and develop their products according to requirements from the end-use industries. Grand View Research has segmented the global control valves market based on component, size, product, end use, and region: Control Valves Component Type (Revenue, USD Million, 2015 - 2025)
Control Valves Size Type (Revenue, USD Million, 2015 - 2025)
Control Valves Product Type (Revenue, USD Million, 2015 - 2025)
o Gate o Diaphragm o Others
o Ball o Butterfly o Plug Control Valves End Use Outlook (Revenue, USD Million, 2015 - 2025)
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