According to a new market research report published by Credence Research, "Control Valves Market (Product Type–Manual, Pneumatic, Hydraulic, and Electrical; End-Use Industry–Oil & Gas, Power Generation, Food & Beverages, Pharmaceuticals, Wastewater Management, Chemicals, Automotive and Others) –Growth, Future Prospects, and Competitive Analysis, 2017–2025", the global market for control valves is estimated to have reached US$ 14.5 billion by 2025.
Market Insights
Control valves have been widely used in various industries for a long time. The requirements of the various industries have also changed with the passage of time. As technology advanced, the performance requirements of the control valves have also become more and more stringent to support increased operating efficiencies. As a result of the expansion of the variety of operating conditions, the performance expectations of the control valves are higher than ever before. For example, operating conditions and environments in the oil and gas sector are extreme and unique. It can vary greatly from pipe valves exposed to extreme temperatures in the desert to deep-sea valves operating 10,000 feet below the surface of the sea. This acts as an opportunity for the control valve manufacturers to offer a range of products in order to meet the various requirements.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/control-valves-market
Factors such as the increasing number of industrial infrastructure projects in developing countries, coupled with a growing trend towards the automation of process industries, are acting as a growth factor in the market for control valves. In addition, the use of control valves in the pharmaceutical industry has also increased in the last few years. Pharmaceuticals companies are investing more and more in a sophisticated fluid handling system to address hygiene concerns and to speed up the overall process. Control valves find extensive application in these fluid handling systems, thus affecting the growth of the market for control valves. Wastewater management is another area of application for control valves that has grown rapidly in the recent past due to the increasing demand for safe and efficient waste disposal and waste collection facilities.
The overall market for control valves is categorized on the basis of the product type and the vertical industry. Based on the product types, the market is classified as manual, pneumatic, hydraulic and electrical. The market is categorized, based on vertical industry, oil and gas, power generation, food and beverage, pharmaceuticals, wastewater management, chemical, automotive and other sectors. As of 2016, the market is led by the pneumatic valve segment, accounting for more than 40% of the total market revenue generated worldwide.
Key Trends
- Control valves requiring less periodic maintenance are growing in popularity
- There is an increasing trend towards automation and digitalization in the conventional process industries
- Strategic partnerships and joint ventures on the part of the suppliers have increased in order to cater to product development
- The growing trend of third-party valve maintenance services
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/58730
Market Segmentation
By Industry Vertical Type
- Oil & Gas
- Power Generation
- Food & Beverages
- Pharmaceuticals
- Wastewater Management
- Chemicals
- Automotive
- Others
By Geography Segment
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
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