Global Control Valve Market By Valve Size (Less than 1”, Between 1” to 6”, Between 6” to 25”, Between 25” to 50”, and More than 50”), By Component, By Product Type, By End-Use (, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Report Overview

The global Control Valves market size was valued to be worth USD 6.2 billion in 2022. From 2023 to 2032, it is estimated to reach USD 14 billion growing at a CAGR of 8.7%.

Control valves are used to control process variables like temperature, flow, fluid, and pressure levels in oil and gas, chemicals, water management, automotive, power generation,  mining, pharmaceuticals, and food and beverage industries. Control valves are essential for boosting these process industries’ profitability, safety, and efficiency. In addition, manufacturers of control valves continuously engage in R&D activities to ensure that their products meet evolving industry requirements.

Control valves are absolutely necessary when dependability and productivity are the primary objectives. Leakage-related revenue losses can be avoided with the help of control valves. Consequently, these valves are a necessary part of any industrial procedure. Examples of commercially available valves include ball, butterfly, plug, and globe valves.

This market is driven by growing demand from the end-use industries, such as water and wastewater treatment, oil and gas, and the energy & power sector. The market is expected to grow due to the increasing use of industrial automation.

Driving Factors

 Growth in Power Generation Plants Around the Globe Is Driving the Market

Control valves are in high demand because of the growth of power generation plants around the globe and the increasing need for power and energy from developing countries. These valves can also be used in nuclear power plants, especially in chemical treatment, cooling water, or steam turbine control systems. Control valves are also in high demand because of the harsh conditions encountered by production and refineries platforms. These platforms are used primarily in offshore and onshore oil and gas activities. These valves are essential in many of the mechanisms used in the oil and gas industry

Control valves are used extensively in many industries, including food & beverage, oil &gas, water & waste, power, energy & energy, and pharmaceutical. Control valves play an important role in increasing profitability, safety, efficiency, and productivity for multiple production processes. Due to their temperature and pressure control benefits throughout the downstream, midstream, as well as upstream activities, control valves are increasingly being adopted in industries. It is anticipated that oil and gas exploration activities in China, the Middle East and Africa, and North America will provide a boost to the market. Over the course of the forecast, the market in question is anticipated to experience steady expansion. Additionally, the market is being driven in large part by stringent environmental legislation for end-use industries in North America, Europe, and  Asia Pacific.

Restraining Factors

Control valves’ lack of standardization holds back market expansion.

A set of guidelines and standards must be followed by valve manufacturers. Different places have different policies and certifications for valves. The demand for valves is diverse due to their use in numerous industries, including the oil and gas, chemicals, water management, automotive, power generation, mining, pharmaceuticals, and food and beverage sectors. On the other hand, this diversity is hindering the expansion of the valve market because participants in the industry are required to adopt the same product to regional policies, making it more difficult for valve manufacturers to obtain an optimal cost of installation. They will need additional capital to set up manufacturing facilities all over the world in order to resolve this problem. They will need to make investments in production facilities all over the world in order to solve this issue, which will require additional capital.

COVID-19 Impact Analysis

Global Control Valve Market’s Revenue Flow is Directly Affected by this Halt in Operations

In order to comply with new government regulations aimed at limiting the spread of the COVID-19 pandemic, numerous businesses in the global market for control valves have been forced to suspend operations. The global control valve market’s revenue flow is directly affected by this halt in operations. Additionally, suppliers of control valve products are no longer receiving raw materials. However, during the forecast period, there is anticipated to be an increase in demand for control valves in chemical projects and oil and gas industries. As a result, the global control valve market has been impacted by lockdowns and a halt in manufacturing for several months, with a slow recovery anticipated for 2021. The control valve industry is expected to reopen at full capacity as a result of this, which would help the market recover by the beginning of 2022.

From both a global and a local point of view, the COVID-19 pandemic has a number of short- and long-term effects on the health market, particularly the pharmaceutical industry. Throughout 2020, the COVID-19 pandemic has ravaged the global economy. In particular, the pharmaceutical industry has had to react quickly to the impact on its operations and the worldwide shortages of active pharmaceutical ingredients (APIs) that followed in order to resume normal operations as soon as possible. However, the pharmaceutical supply chain’s vulnerability has been made clear by the global epidemic. Many governments are attempting to onshore their supply chains, bring supply closer to home, or diversify supply networks to avoid over-reliance on any one market, in order to lessen the likelihood of future disruptions in pharmaceutical manufacturing.

By Size Analysis

Valves Ranging in Size From 1″-6″ Dominated the Market with its  Widespread Use In Various Industries

There are many sizes of valves that are available. They range from less than 1’, between 1″ to 6,  6″ to 25, and 25″ to 50,  more than 50. Due to widespread use in the chemical, pharmaceutical, and food & drink industries, valves ranging in size from 1″-6″ dominated the market in 2022.This segment is expected to continue its dominance in the market through 2025. The CAGR for the segment less than 1″ is expected to be the highest during this same time.

By Component Analysis

Actuator Segment Dominated the Market as it is the Most Crucial Part of Control Valve Architecture.

Over the forecast period, the control valves market is anticipated to be dominated by the actuator segment. Since it automates valve operation, this is the most crucial part of control valve architecture. The absence of common platforms like Profibus, Zigbee, and Ethernet is one of the primary factors that is hindering the demand for these valves. The demand for the valve body, on the other hand, is expected to rise at a similar rate over the forecast period. In addition, the segment’s expansion is anticipated to be aided by stringent environmental regulations and growing industrial automation in emerging economies.

By Distribution Channel Analysis

Demand From End-Use Industries is Making Linear Control Valves Dominant

The market can be divided into two types based on product: linear and rotary. Linear control valves can be further divided into a gate, diaphragm, and other, while rotary types can be further segmented into plug, ball, butterfly, and plug. Due to the high demand for linear control valves in end-use industries like oil & gas chemicals, and energy & power in emerging economies, the market is dominant. This segment will see a 6.12% CAGR over the forecast period.

By End-User Analysis

Oil & Gas Sector Accounted For The Largest Share

Based on the end-use market is segmented into oil & gas, chemical, energy & power, water & wastewater, pharmaceutical, food and beverages, and Other End-Uses. Due to the wide use of control valves in crude oil extraction, natural gas generation, and refining, the oil & gas sector accounted for the largest share. A lot of the installed valves are being replaced annually due to increasing safety standards. The water and wastewater industry also includes application processes such as water supply for manufacturing purposes or treatment of wastewater generated from industries.

Key Market Segments:

Based on Value Size

• Less than 1”
• Between 1” to 6”
• Between 6” to 25”
• Between 25” to 50”
• More than 50”

Based on Component

• Body
• Actuator
• Other

Based on Product

• Linear
  • Gate
  • Diaphragm
  • Others
• Rotary
  • Ball
  • Butterfly
  • Plug

Based on End-User

• Oil & Gas
• Chemical
• Energy & Power
• Water & Waste Water
• Pharmaceutical
• Food and Beverages
• Other End-Uses

Growth Opportunity

demand from new end-use industries for Investment in state-of-the-art control instrumentation

Many control valve companies have invested in state-of-the-art control instrumentation to meet rising demand from new end-use industries. This will increase the economic, competitive, and environmental pressures on control valve companies to provide high-rated products at a lower return on investment. These control valves, which are technologically advanced and integrate digital intelligence, are an integral part of a plant asset management strategy

Numerous environmental, competitive, and economic issues confront modern industries. Several prominent businesses have been investing in cutting-edge equipment to combat these. This trend is not only influencing the control valve market but it is also expected to pave the way for growth throughout the evaluation period. whereas conventional physical control valves have undergone relatively little change over time. The technology that these valves incorporate has advanced significantly. Intelligent control systems with embedded processors and networking capabilities have emerged as essential, particularly for use in subsea oil and gas. Some of the most prominent players in the market have stepped up their game in response to the demand for these developments.

Latest Trends

Digitalization and automation of conventional plant

control valves are in high demand due to the increasing trend towards digitalization and automation of conventional plants. Control valve manufacturers are always engaged in R&D to develop and design their products to meet the needs of end-use industries.

Regional Analysis

North America’s market dominated the global market by over 38%. Due to the high demand in the United States for valve replacement and a large number of projects currently underway in the country.
Due to the presence of emerging economies like India and China, Asia Pacific will dominate the second-largest market in 2022. In order to make smart valves, companies are investing in actuator and valve manufacturing. This is because of the increasing demand for automated valve operations in many industries, including water & and wastewater, food & drink, energy & electricity, pharmaceutical, and medical.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Market key players invest heavily in R&D to create innovative solutions and give them a competitive advantage. Due to the large number of small and medium-sized manufacturers that offer control valve products tailored to end-use industries, the market is fragmented. Companies are constantly taking strategic initiatives to maintain their market share in a highly competitive market. These include mergers and acquisitions as well as joint ventures, product launches, and partnerships. These initiatives are designed to expand their reach globally and regionally, as well as offer a wider product range to their customers:

Listed below are some of the most prominent control valve industry players.

Market Key Players:

• Emerson Electric Co.
• Flowserve Corporation
• IMI plc
• Alfa Laval AB
• AVK Hosting A/S
• Eaton
• Honeywell International, Inc.
• Velan Inc.
• Burkert Fluid Control System
• Valvitalia SpA
• Other Key Players

Recent Developments

• June 23, 2021: A partnership agreement between Severn Glocon and ValvTechnologies will allow for collaboration between two of the world’s leading manufacturing and engineering companies that specialize in high-end severe, cutting-edge service valves.
• In September 2020, the government of Spain offered $226,2 million for projects utilizing renewable energy. However, it is anticipated that domestic manufacturer competition will impede control valve market expansion.

Report Scope: