Control Valve Market: Growth, Trends, and Forecast Analysis
Control Valve Market Expected to Grow at a CAGR of 13.1% by 2031
The global control valve market is set to experience significant growth over the forecast period from 2024 to 2031, with a projected CAGR of 13.1%. This growth is driven by the increasing adoption of industrial automation and the use of smart control valves in various end-use industries such as water & wastewater treatment, oil & gas, and energy & power.
One of the key factors contributing to the growth of the control valve market is the expansion of power plants worldwide, as well as the rising demand for energy and power from emerging economies. Nuclear power plants also utilize control valves in various processes such as chemical treatment, feed water, cooling water, and steam turbine control systems.
The demand for smart control valves is further fueled by the expansion of the oil and gas industry and the increasing global energy demand. The need to comply with environmental regulations and stringent safety standards is also driving the adoption of modern valve control systems.
In industrial operations, smart control valve positioners play a crucial role in precisely actuating and controlling valve openings and closures. These devices ensure accurate valve positioning and rapid response to changes in the desired valve position, allowing for precise control over flow rates, pressure levels, and other process variables.
The market segmentation for control valves includes components such as valve bodies and actuators, materials like stainless steel, cast iron, cryogenic, and alloy-based materials, as well as types such as rotary valves and linear valves. The market is further segmented by process industries including oil & gas, energy & power, water & wastewater treatment, food & beverages, metals & mining, chemicals, pharmaceuticals, building & construction, and others.
Key players in the global control valve market include ARCA Regler GmbH, Azbil Corp., BELIMO AIRCONTROLS (CAN), Inc., Bray International, Inc., Crane Company, Flowserve Corp., Goodwin International Ltd., IMI Kynoch Ltd., KSB SE & Co. KGaA, Pentair, Rotork plc, SAMSON AG, Schlumberger Ltd., Spirax-Sarco Engineering plc, The Weir Group PLC, Valmet, ValvitaliaSpA, and Velan Inc.
For more information on the control valve market and to access the full report, visit https://www.omrglobal.com/industry-reports/control-valve-market
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