Control Valve Market - Forecasts from 2018 to 2023
Control valve market was valued at US$10.649 billion in 2017 to reach US$15.466 billion by 2023 at a compound annual growth rate of 6.42% over the forecast period. Control valve helps to regulate the rate of flow of the fluid to control various process parameters such as pressure, fluid level, and temperature. These are controlled by closing or opening of the valve in response to the received signal. Growing adoption of automation processes across various end use industries is the major driver to the control valve market growth. Rising investments in oil and gas industry globally is another key factor augmenting the demand for control valves over the forecast period. Geographically, APAC will witness a significant market growth during over the next five yeras owing to the increasing number of manufacturing facilities in the region coupled with favourable government initiatives to support the growth of energy and power sector in countries like China and India.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the control valve value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the control valve market.
Major industry players profiled as part of the report are Honeywell, ABB, Emerson, General Electric, and Crane Co. among others.
Control valve market has been analyzed through following segments:
Flow Rate Control
By End Use Industry
Oil and Gas
Energy and Power
Water and Wastewater
Middle East and Africa