Market Research Future published a research report on “Control Valve Market Research Report- Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India - May 21, 2019 /MarketersMedia/ —
Market Synopsis
The global control valves market is expected to grow from USD 6.42 billion in 2017 to USD 9.75 billion by 2023, at a CAGR of 7.53%, during the forecast period.
The increasing need for more efficient manufacturing operations by process manufacturers along with rapid industrial developments in countries such as China and India is creating a demand for control valves. These valves are used to control the flow of fluids in manufacturing industries, thus reducing process variability; this helps to achieve production requirement and reduce the cost of the process effectively. Factors such as rising investments in electricity generation and water infrastructure are fueling the demand for control valves. Major improvements have been made in the control valve actuator technology which help in minimizing the cost and boosting the efficiency in power generation.
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Key Players
The prominent players in the control valve market Emerson Electric Co. (US), Flowserve Corporation (US), Metso Corporation (Finland), General Electric Company (US), Samson AG (Germany), OCV Fluid Solutions (US), IMI Plc (UK), Velan Inc. (Canada), Crane Co. (US), The Weir Group PLC (UK), MIL Control Limited (India), Apollo Valves (US), Armstrong International Inc. (US), AVK Group (Denmark), and Leslie Controls, Inc. (US).
Segmentation
The global Control Valve Market has been segmented based on type, component, valve size, end users, and region.
• By type, the market has been segregated into ball valve, butterfly valve, gate valve, plug valve, piston valve, and diaphragm valve.
• By component, the market has been segmented into valve body, actuators, and others.
• By valve-size, the market has been segmented into less than 1”, 1” to 6”, 6” to 25”, 25” to 50”, greater than 50”.
• By end-use vertical, the market has been segmented into oil & gas, energy & power, water & wastewater treatment, food & beverages, chemicals, construction, pharmaceuticals, and others.
• By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
The global market for Control Valve Market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the control valve market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the control valves market during the forecast period due to high investments for infrastructure development in energy and power and oil and gas industries in China and India. Moreover, rapid development in process manufacturing in Asian economies will contribute to the growth of the market.
North America also contributes a significant share to the market due to the exploration of shale gas reserves and increasing activities in the oil & gas industry. Also, the rapid adoption of advanced technologies in this industry is expected to boost the growth of control valves market in this region.
Competitive Analysis
The key players have adopted partnerships and new product launches as a part of their organic growth strategy to further strengthen their market position. In December 2017, Schlumberger launched a new ball valve technology—GROVE IST integrated seat—that not only improves performance but also provides considerable size and weight benefits.
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Intended Audience
• Weighing scales manufacturer
• Potential Investors/Traders
• Distributors
• Wholesalers
• Retailers
• Importers
• Association
• Government bodies
• Market research and consulting firms
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Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 515001
