Global Control Valve Market Segments 2024, Forecast To 2033
5 Mar, 2024
The control valve market has shown rapid growth, increasing from $6.75 billion in 2023 to $7.63 billion in 2024, reflecting a CAGR of 13.0%. The historical period growth is attributed to industrial expansion, regulatory compliance, energy sector dynamics, and infrastructure development. Projections for 2028 anticipate a market size of $12.2 billion, driven by energy efficiency focus, environmental sustainability, and demand for high-performance valves, maintaining a CAGR of 12.5%. Major trends include smart valve technology and industry 4.0 integration.
Global Control Valve Market Key Driver
The expanding oil & gas and power industries are driving the growth of the control valve market. Both sectors, involved in resource exploration, processing, and energy distribution, have witnessed substantial growth. Crude oil production in the U.S. increased by 14.05% in 2022, while electricity net generation rose by 0.9% in September 2022. This growth necessitates the installation of control valves for efficient processing and distribution, fueling the control valve market.
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The control valve market covered in this report is segmented –
1) By Type: Linear, Rotary
2) By Component: Valve Body, Actuator, Other Components
3) By Material: Stainless Steel, Alloy-Based, Cast Iron, Cyrogenic, Other Materials
4) By Industry: Oil and Gas, Water and Wastewater Treatment, Energy and Power, Pharmaceuticals, Food and Beverage, Chemicals, Building and Construction, Paper and Pulp, Metals and Mining, Other Industries
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the control valve market in 2023. The regions covered in the control valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Control Valve Industry Players
Schlumberger Limited; Alfa Laval AB; Conbraco Industries Inc.; Arca Regler GmbH; Burkert Fluid Control Systems; Cla-Val Co.; Crane Holdings Co.; Curtiss-Wright Corporation; Emerson Electric Co.; Flowserve Corp.; General Electric Company; IMI plc; Kitz Corporation; Lapar Control Valve Co. Ltd.; Neway Flow Control Co.Ltd.; Taylor Valve Technology Inc.; Velan Inc.; Baker Hughes Company; Metso Corporation; CIRCOR International Inc.; AVK Holding A/S; Eaton Corp. plc; Festo AG & Co.; Georg Fischer Ltd.; Hitachi Ltd.; ITT Inc.; KSB SE & Co. KGaA; Leser GmbH & Co.; Parker Hannifin Corporation; Pentair plc; Rotork plc; Smiths Group plc; The Weir Group plc; Xylem Inc.
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AIOps Control Valve Market Overview
The control valve is a power-operated device that regulates the rate of fluid flow. The control valve is used to control pressure, flow, temperature and other variables.
Control Valve Global Market Report 2023 provides data on the global control valve market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The control valve market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.