In 2020, the global control valve market was worth more than $5 Bn. Sales of control valves are being significantly boosted by automation in this sector. Manufacturers are placing a lot of emphasis on providing valves that can withstand extreme conditions and corrosion. Additionally, it is projected that sales of control valves such ball valves and electric valves will significantly increase during the evaluation period.
Control valve sales are also accelerating due to increased demand from end-user industries like the oil and gas industry, healthcare, and wastewater management. As a result, by the end of 2031, the control valves market will have grown by more than three times, reaching a market value of approximately US$ 17 Bn.
How are Electric Valves Driving Market Growth for Control Valves?
Electric control valves are frequently preferred by end users because of their usability features. After installation, electric control valves immediately operate. They spare production units both time and money in this way. Additionally, compared to other types of valves, installing electric control valves takes less time.
As a result, the adoption of control valves created using electric actuation technology will be driven by electric valves. Electric control valves are anticipated to experience the greatest volume CAGR of 6.6% during the projection period.
Key Companies Profiled
- 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.
- Neway Valves
- Spirax Sarco
Which Factors are Driving Demand for Control Valves?
The demand for components that effectively manage pressure, temperature, and other parameters has been fueled by the increasing penetration of automation across a number of industrial sectors. Manufacturers are improving their capacity for creating control valves to meet future needs from end user industries like the oil and gas, chemical, and power generating sectors.
The effectiveness of control valves is being improved by incorporating new designs that provide direct flow rate control and process data on liquid level, temperature, and pressure. More than 18,334 control valve units are anticipated to be sold globally by 2026.
How have Hygiene Concerns Spurred Control Valves Adoption during COVID-19?
The COVID-19 pandemic has had a variety of effects on business. A rise in coronavirus incidence has highlighted the need for environmental sanitation. As a result, the need for control valves in the residential and commercial sectors has grown over time.
The need for various types of control valves has increased as a result of frequent disinfection cycles in residential and commercial settings. Sales did, however, suffer in the first half due to a lack of sufficient inventory to meet the constantly growing demand. The imbalance gradually disappeared, offsetting this.
For instance, Alfa Laval noticed a large rise in demand for their Mixproof valves, which offer the greatest flexibility and safety in sanitary flow processing by enabling the simultaneous handling of different fluids without the possibility of cross-contamination.