- November 18, 2015
- Transparency Market Research
The global market for control valves, estimated at a valuation of US$7.74 bn in 2014, is expected to expand at a healthy 7% CAGR between 2015 and 2021 and rise to US$12.14 bn by 2021
A new report, titled “Control Valves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021,” presents a 360-degree analysis of the global control valves market, presenting the market value in terms of revenue for the period between 2015 and 2021.
Browse the full Control Valves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report at http://www.transparencymarketresearch.com/control-valves-market.html
The report presents analysis of the market for control valves, the valves used for controlling factors such as pressure, flow and liquid level, and temperature. Control valves work by either partially or fully closing or opening in response to signals received from controllers. A variety of industries such as automotive, oil and gas, power generation, wastewater management, chemicals, mining, food and beverages, and pharmaceuticals, employ control valves in a variety of application areas.
The report states that the global market for control valves, estimated at a valuation of US$7.74 bn in 2014, is expected to expand at a healthy 7% CAGR between 2015 and 2021 and rise to US$12.14 bn by 2021.The rising investments in fluid handling technologies across the oil and gas industry coupled with the rising demand for industrial process controls across numerous industries are the key driving forces for the global control valves market. The increased adoption of control valves in pipeline installation projects is also fueling the global market for control valves.
The report segments the global control valves market on the basis of product type, application, and geography. On the basis of product type, the market is segmented into electric control valves, pneumatic control valves, and hydraulic control valves. Of these, the segment of pneumatic control valves, owing to their extensive usage in the chemical, petrochemical, and oil and gas industries, generated the maximum revenue in 2014. Over the report’s forecast period, the market for pneumatic control valves is expected to be driven by the rising demand for less complex and low-cost valve solutions across a number of industry verticals.
On the basis of application area, the market is segmented into power generation, wastewater management, oil and gas, automotive, pharmaceuticals, mining, food and beverages, and chemicals. Of these, the power generation sector held the largest share in the market, an estimated 20%, in 2014. High demand for control valves in the power generation industry is primarily driven by the rising investments in emerging economies such as India, China, and Brazil.
Demand for control valves is also projected to remain high in the global pharmaceutical industry owing to increased investments by pharmaceutical companies towards the development of sophisticated fluid handling systems for improving hygiene and speeding up manufacturing processes.Of the key regional markets for control valves, which include North America, Asia Pacific, Europe, and Rest of the World, the market for control valves in North America held the largest share in 2014, by accounting for more than 37%. Asia Pacific followed with a 23% share in the global market in the same year.
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