According to Nova one advisor, the global Control Valves market size was valued at USD 7.81 billion in 2021 and is predicted to hit USD 20.7 billion by 2030 with a registered CAGR of 15.2% during the forecast period 2022 to 2030.
Key Takeaways:
Surging demand from industrial sectors such as energy & power, water & wastewater treatment, and oil & gas industry and growing adoption of industrial automation propelling the smart control valves market are fueling the demand for control valves. Additionally, rising demand for control valves in the pharmaceutical and food & beverages industries is expected to drive the market.
Increasing adoption of control valves is rising continuously owing to the benefits they offer in controlling temperature and pressure throughout the downstream, midstream, and upstream activities. Therefore, growing oil & gas exploration activities are triggering the demand for control valves. Control valves offer various benefits of installing modernized and sophisticated fluid handling systems. In the pharmaceutical industry, there is a rising demand for fluid handling systems, owing to safety procedures in order to manufacture a hygienic and safe product.
These sophisticated fluid handling mechanisms are helpful in speeding up the manufacturing process, thus ensuring optimal performance. Moreover, the food & beverages industry utilizes control valves to speed up the manufacturing process and ensure the hygiene of end products such as packaged food. Surging demand for packaged food is augmenting the control valves market growth. This is due to the application of flow control devices with suitable control valve design and technology for improved quality of end product.
Asia Pacific is expected to dominate the market owing to increasing demand from the energy & power and water & wastewater industries. These industries are investing heavily to automate their flow-control processes, so as to increase production efficiency and simultaneously reduce error ratio. Furthermore, expanding the production of oil sands and shale gas in North America and rising oil & gas exploration activities in regions such as Middle East and Africa, and Asia Pacific are accelerating the demand for control valves over the forecast period.
Report Scope of the Control Valves Market
Report Coverage |
Details |
Market Size |
USD 20.7 Billion by 2030 |
Growth Rate |
CAGR of 15.2% from 2022 to 2030 |
Largest Market |
North America |
Fastest Growing Market |
Asia Pacific |
Base Year |
2021 |
Forecast Period |
2022 to 2030 |
Segments Covered |
Component Type, Size Type, Product Type, End-use Actuation Technology, Type and Region, |
Companies Mentioned |
Emerson Electric Co., Flowserve Corporation, IMI plc, Alfa Laval AB, AVK Holding A/S, Eaton, Honeywell International, Inc., Velan Inc., Burkert Fluid Control System, Valvitalia SpA |
Valve Size Insights
Some of the commonly available valve sizes are less than 1”, between 1” to 6”, between 6” to 25”, between 25” to 50”, and more than 50”. The market was dominated by valves with size ranging from 1” to 6” in 2017 owing to their extensive application in the chemical, pharmaceutical, and food & beverage industries. The segment is anticipated to maintain its position in the market until 2030. On the other hand, the less than 1” segment is expected to post the highest CAGR during the same period.
Product Insights
Based on product, the market has been bifurcated into linear and rotary. Linear control valves have been further divided into gate, diaphragm, and others; whereas rotary types have been further segmented into ball, butterfly, and plug. The market is dominated by linear control valves, owing to their surging demand from end-use industries such as oil & gas chemicals and energy & power in developing economies. The segment is likely to post a CAGR of 7.12% during the forecast period.
Actuation Technology Insights
In terms of actuation technologies available, the market can be segregated into manual, pneumatic, hydraulic, and electric. Of these, pneumatic control valves will remain the most commonly used type in terms of technology. However, given the global scheme of things, sales of electric control valves are expected to rise at a higher pace.
Terms of Type Insights
On the basis of type, the market comprises ball, butterfly, globe, diaphragm, and others. Of these globe control valves are expected to remain the top choice across industries through the forecast period. The report has predicted the total sales of globe control valves to total US$ 4.9 Bn by 2030.
End-use Insights
The oil & gas industry accounted for the leading share in the market owing to a wide application of control valves in natural gas generation, crude oil extraction, and refining processes. Moreover, owing to the increasing stringency of safety standards, around 12.0% of installed valves are replaced on a yearly basis.
Furthermore, the water & wastewater industry includes application processes, such as the supply of water for manufacturing purposes and the treatment of wastewater generated by industries. Across the globe, there are around 90,000 municipal wastewater plants that are expected to spend approximately USD 6.50 billion on valves by 2019, which is further expected to drive the market over the forecast period.
Component Insights
The actuator segment is expected to dominate the control valves market over the forecast period. This is the most important component in control valve architecture, as it makes valve operation automatic. One of the primary factors hindering the demand for these valves is the lack of common platforms such as Ethernet, Profibus, and Zigbee. The segment is anticipated to reach USD 9.27 billion by 2030, expanding at a CAGR of 7.42 during the forecast period.
However, the demand for the valve body is also projected to increase at a similar growth rate over the forecast period. Moreover, stringent environmental regulations and increasing industrial automation in emerging economies are poised to spur the growth of the segment over the forecast period.
Regional Insights
Asia Pacific dominated the global market in 2017 owing to the presence of emerging economies such as China and India. Companies are investing heavily in valve and actuator manufacturing, along with technologies, which need to be associated to convert them into smart valves. This is due to the rising demand for automated valve operations in industries such as water & wastewater, food & beverage, energy & power, and pharmaceutical. The Middle East & Africa region is expected to witness a second-highest CAGR of 6.75% over the forecast period.
North America to Hold Significant Market Share
Some of the prominent players in the Control Valves Market include:
Emerson Electric Co., Flowserve Corporation, IMI plc, Alfa Laval AB, AVK Holding A/S, Eaton, Honeywell International, Inc., Velan Inc., Burkert Fluid Control System, Valvitalia SpA
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Control Valves market
Component Type
Size Type
By Actuation Technology
By Type
Product Type
End-use Outlook
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders