Knowledge Sourcing Intelligence announces the publication of a new report on “Control Valve Market - Forecasts from2020 to 2025" to their offering.
Control valves are automated fluid control systems that are used across numerous industry verticals for fluid control by varying the sizes of the passage where the liquid flows. The wide adoption across the oil and gas sector is a key factor driving market growth over the next five years.
According to the report, the Control Valve Market is projected to increase at a CAGR of 5.64% in the coming years.
Globally Growing Energy Demand
One of the major factors supplementing the control valve market growth is the globally growing demand for energy on account of rapid urbanization and industrialization in both developed and developing economies around the globe. In addition, the constantly growing population is also a prime factor that has led to an upsurge in the consumption of energy. The market for control valves is also driven by the fact that the inclination of various companies operating across the different industry verticals towards the incorporation of connected networks for monitoring and maintaining the various plant equipment. This combined with the rising adoption of automated solutions for the improvement of efficiency, profitability, and safety are also some of the major factors that are playing a significant role in shaping up the control valve market growth throughout the forecast period. Furthermore, the rapid. Moreover, the constantly growing focus towards renewable energy by the various governments around the globe has also led to an upsurge in the demand for control valves as there are rising investments in new power plants. Furthermore, the rapid advancement in the technology and the availability of customized product portfolio by the companies operating in the market is also a significant factor that further shows the potential for the market to grow during the next five years. Moreover, the growing processing industry throughout the globe along with the infrastructural investments in various developing economies such as India and China among others in the development of industries is also bolstering the market growth over the course of the next five years.
The control valve market has been segmented into valve type, material, size, industry vertical, and geography. By the type, the market has been segmented on the basis of linear valves and rotary valves. By material, the segmentation of the market has been done into steel, iron, and others. Based on size, the market has been classified into less than 2”, 2” to 8”, and above 8”. By the industry vertical, the market has been distributed into oil and gas, water and wastewater, food and beverages, energy and power, and others. Geographically, the global market is distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
The North American region is expected to hold a substantial market share throughout the forecast period on account of the presence of well-established industries in countries like the United States and Canada. Additionally, the presence of key players of the market in the region is also supporting the growth during the next five years.
The major players covered as part of the report are Emerson, Alfa Laval, Burkert Fluid Control System, Neway Valves, and Metso among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/control-valve-market
This report has segmented the Control valve market on the basis following terms: