Market Research Future published a research report on “Control Valve Market Research Report- Global Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Pune, India – January 14, 2019 —
Control Valve Global Market – Overview
Control valve are used by various industrial sectors that include oil & gas, waste water management, automotive, pharmaceuticals, chemical and others in order to control temperature, flow, and pressure by received signals from the controllers. The primary factor that drives the growth of control valve market is growing investment in fluid handling system, increasing need of automation and rising industrial infrastructure projects among others. According to a recent study report published by the Market Research Future, The global market of Control Valve is booming and is expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
Control Valve device plays an important role in increasing efficiency, safety, and profitability of the process industries. Furthermore, the original equipment manufacturers (OEMs) of control Valve are constantly engaging in research & development activities to design their products in accordance with the changing requirements in numerous industries. However, the lack of technical expertise among instrument engineers may hinder the growth of control valve market.
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Control Valve Market is expected to show a considerable growth rate in coming five years (2016-2022). The growth is majorly driven by the gradual increase in the need for automation in the process industry, the rising number of industrial infrastructure projects in developing countries, and the ever increasing investment across all the process industries especially, in oil & gas industry.
Countries such as Brazil, Russia, India and China and the Middle East Region continue to support control valve market. Due to the rising population, high consumption of energy from the middle class family and the need for energy efficient device is boosting the control valve market in the region.
Segments for Control Valve Market:
Global Control Valve Market can be segmented as follows:
• Segmentation by Types: ball valve, butterfly valve, cryogenic valve, and globe valve among others
• Segmentation by Components: positioners, switches, transducers, actuators, PC diagnostic software, and pneumatic lock up systems among others.
• Segmentation by End-Users: Oil & gas, chemicals, food & beverage, automotive, metal & mining and pharmaceuticals among others.
Some of the major players in Global Control Valve Market includes Burkert Fluid Control Systems (Germany), Crane Co. (U.S.), Velan, Inc. (Canada), Pentair Limited (UK), Flowserve Corporation (U.S.), Dual Products Intl. Cc (South Africa), Metso Corporation (Finland), Samson AG (Germany), MIL Control Limited (India), and IMI Plc. (UK) among others.
Control Valve Global Market – Competitive Analysis
The Market of Control Valve appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Regional Analysis of Control Valve Market:
North America is dominating the global control valve market with the largest market share due to presence of high-tech R&D sector in the region to provide extensive control valve automation solution to the industry. Therefore is expected to grow with highest revenue by 2022 followed by Europe. Asia-Pacific is the fastest growing region during the forecast period due to growing investment by emerging economies such as China and India.
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• OEM manufacturers
• Automotive industries
• Distributors & Suppliers
• Research organizations
• Oil& gas and mining sectors
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Name: Abhishek Sawant
Organization: Market Research Future
This news is published on Reuters.