The control valve market is estimated to grow from USD 8 billion in 2019 to USD 11.3 billion by 2025, at a CAGR of 5.9% during the forecast period.
Rising demand for energy in APAC, increasing adoption of valves in oil and gas production-related firms in GCC countries, growing need for the connected network to maintain and monitor various equipment in plants, and surging focus on establishing new nuclear plants and upscaling of existing ones are the key driving factors for the control valve market.
Use of 3D printing in manufacturing valves, the introduction of IIoT & industry 4.0, the need for replacement, adoption of smart valves, and the focus of valve manufacturers to offer improved customer service are among the other factors fueling the growth of the control valve market. However, high fabrication costs and a rise in collaboration among industry players can hinder the growth of the control valve market.
Burkert Fluid Control Systems (Germany), Emerson (US), Flowserve (US), IMI plc (UK), Curtiss Wright (US), Trillium Flow Technologies (Weir Group) (US), Cameron - Schlumberger (US), Spirax Sarco (UK), Crane Co. (US), KITZ Corporation (Japan) are among the major players in the control valve market.
Actuators to account for the largest market size from 2019 to 2025
The control valve market, based on components, has been segmented into the valve body, actuators, and others (IPC connectors and positioners). Actuators are expected to account for the largest share of the control valve market during the forecast period. This can be attributed to the increasing use of actuators in the oil & gas, energy & power, metals & mining industries; actuators are installed in industrial locations that are not easily accessible by humans, and actuators can provide uninterrupted and reliable services during the operation of the valves.
Rotary control valves to account for the largest market size during the forecast period
Rotary control valves are expected to hold a larger share of the control valve market during the forecast period. Rotary valves are less prone to clogging in dirty service applications, and through the stem packing, emissions can be controlled effortlessly, without using costly bellows seals. Moreover, lighter weight and smaller size of rotary valves contribute to the continually increasing demand for these valves.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to record the highest growth rate during the forecast period. Rapid population growth and urbanization in developing economies, such as China, Japan, South Korea, and India have prompted speedy development of several industries, such as energy & power, water & wastewater treatment, construction, chemicals, pharmaceuticals, and oil & gas, which, in turn, will upsurge the demand for control valves.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Growth Opportunities in Control Valve Market 4.2 Market, By Material 4.3 Market, By Component 4.4 Market, By Type 4.5 Market, By Size 4.6 Market in APAC, By Country and Industry 4.7 Market, By Country (2025)
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Rising Demand for Energy in APAC 5.2.1.2 Increasing Adoption of Valves By Oil and Gas Production-Related Firms in GCC Countries 5.2.1.3 Growing Need for Connected Networks to Maintain and Monitor Various Equipment in Plants 5.2.1.4 Surging Focus on Establishing New Nuclear Power Plants and Upscaling of Existing Ones 5.2.2 Restraints 5.2.2.1 Lack of Standardized Certifications and Government Policies 5.2.3 Opportunities 5.2.3.1 Use of 3D Printing in Manufacturing Valves 5.2.3.2 Introduction of IIoT and Industry 4.0 5.2.3.3 Need for Valve Replacement and Adoption of Smart Valves 5.2.3.4 Focus of Valve Manufacturers to Offer Improved Customer Services 5.2.4 Challenges 5.2.4.1 High Fabrication Cost 5.2.4.2 Rise in Collaboration Among Industry Players 5.2.4.3 Unplanned Downtime Due to Malfunctioning or Failure of Valves
6 Industry Trends 6.1 Introduction 6.2 Value Chain Analysis 6.3 Consumer Buying Process 6.3.1 Online Valve Purchase Trend is Expected to Disrupt Traditional Consumer Buying Process of Valve Industry 6.4 Industry Trends 6.4.1 Impact of IoT on Control Valve Market 6.4.2 3D Printing
7 Control Valve Market, By Material 7.1 Introduction 7.2 Stainless Steel 7.2.1 Demand for Stainless Steel Control Valves is Likely to Upsurge During Forecast Period 7.3 Cast Iron 7.3.1 Cast-Iron Control Valves to Continue to Account for Second-Largest Market Size Owing to Its Wide Use in Water & Wastewater Treatment and Hydroelectric Power Plants 7.4 Alloy Based 7.4.1 Market for Alloy-Based Valves to Grow at A Significant Rate in Coming Years 7.5 Cryogenic 7.5.1 Cryogenic Valves are Expected to Continue to Hold Third-Largest Market Share Owing to Its Rising Use in Oil & Gas Industry 7.6 Others 7.6.1 Brass 7.6.2 Bronze 7.6.3 Plastic
8 Control Valve Market, By Component 8.1 Introduction 8.2 Actuators 8.2.1 Actuators to Dominate Market Based on Components During 2019-2025 8.3 Valve Body 8.3.1 Valve Body Acts as Main Control Center 8.4 Others
9 Control Valve Market, By Size 9.1 Introduction 9.2 Up to 1 9.2.1 Control Valves Sized Up to 1" to Exhibit Highest CAGR During Forecast Period 9.3 >1 to 6 9.3.1 >1"-6" Control Valves are Widely Used in Critical Industries Such as Oil & Gas and Chemicals 9.4 >6 to 25 9.4.1 >6"-25" to Account for Largest Market Share During Forecast Period 9.5 >25 to 50 9.5.1 Chemicals, Pharmaceuticals, and Energy & Power are Key Industries That Use Control Valves Sized >25"-50" 9.6 >50 9.6.1 Control Valves Sized >50" to Accelerate the Market for Oil & Gas, Power, and Petrochemicals Industries
10 Control Valve Market, By Type 10.1 Introduction 10.2 Rotary Valves 10.2.1 Ball Valves 10.2.1.1 Ball Valves to Continue to Account for Largest Size of Rotary Market During Forecast Period 10.2.2 Butterfly Valves 10.2.2.1 Butterfly Valves Account for Significant Market Share Owing to Their Reliable Field Operations, Tight Shut-Off, and Precise Control 10.2.3 Plug Valves 10.2.3.1 Market for Plug Valves Expected to Witness Substantial Growth in Next Few Years 10.3 Linear Valves 10.3.1 Gate Valves 10.3.1.1 Gate Valve to Hold Largest Market Size Owing to Their Capability to Meet Demands of A Wide Range of Pressure and Temperature Conditions 10.3.2 Diaphragm Valves 10.3.2.1 Diaphragm Valves Expected to Witness Highest CAGR in Linear Market During Forecast Period 10.3.3 Other Valves
11 Control Valve Market, By Industry 11.1 Introduction 11.2 Oil & Gas 11.2.1 Oil & Gas Industry to Continue to Hold Largest Size of Market During Forecast Period 11.3 Water & Wastewater Treatment 11.3.1 Modification in Older Water Infrastructure Expected to Augment Demand for Control Valves in Next Few Years 11.4 Energy & Power 11.4.1 Increasing Need for Energy in Developing Countries is Expected to Accelerate Demand for Control Valves 11.5 Pharmaceuticals and Healthcare 11.5.1 North America to Drive Market for Pharmaceuticals and Healthcare Industry 11.6 Food & Beverages 11.6.1 Food & Beverages Industry to Witness Significant Growth in Market During Forecast Period 11.7 Chemicals 11.7.1 Control Valves are Adopted in Chemicals Industry as They Meet Most Stringent Protection Requirements and Standards 11.8 Building & Construction 11.8.1 Building & Construction Industry is Expected to Witness Significant Growth Owing to Rapid Urbanization and High Focus on Smart Infrastructure Projects 11.9 Pulp & Paper 11.9.1 Europe Expected to Be Fastest-Growing Region Market for Pulp & Paper Industry 11.10 Metals & Mining 11.10.1 APAC to Dominate Market for Metals & Mining Industry 11.11 Others
12 Geographic Analysis 12.1 Introduction 12.2 North America 12.2.1 US 12.2.1.1 Aging Water & Wastewater Infrastructure in US Generates Demand for Hybrid Valves 12.2.2 Canada 12.2.2.1 Upcoming Investments in Natural Gas Projects Would Augment Canadian Market Growth in Next Few Years 12.2.3 Mexico 12.2.3.1 Uptrend in the Water & Wastewater Treatment Industry Expected to Drive Market in Mexico During the Forecast Period 12.3 Europe 12.3.1 UK 12.3.1.1 Prominence of Water Industry in UK Will Propel Demand for Control Valves Market 12.3.2 Germany 12.3.2.1 Germany Holds Second-Largest Share of European Market at Present 12.3.3 France 12.3.3.1 Energy & Power Sector Expected to Drive Market in France 12.3.4 Italy 12.3.4.1 Italian Market Will Be Driven By Upcoming Investments in Water & Wastewater Treatment Industry 12.3.5 Rest of Europe 12.4 Asia Pacific (APAC) 12.4.1 China 12.4.1.1 Market in China Will Be Driven By Growing Demand From Energy & Power, Oil & Gas Sectors 12.4.2 Japan 12.4.2.1 Investment in Renewable Energy Sources and Power Generation in Japan Will Increase Demand for Control Valves 12.4.3 South Korea 12.4.3.1 Chemicals Industry to Witness High Demand for Control Valves to Ensure Highest Level of Hygienic Processing 12.4.4 India 12.4.4.1 India Would Be Fastest-Growing Country Market in APAC 12.4.5 Rest of APAC 12.5 Rest of the World (RoW) 12.5.1 Middle East 12.5.1.1 Middle East to Hold Largest Share Market in RoW During Forecast Period 12.5.2 South America 12.5.2.1 Growing Oil & Gas Industry Will Drive Market Growth in South American Countries 12.5.3 Africa 12.5.3.1 Investments in Water & Power Industries Drive Market in Africa
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