Knowledge Sourcing Intelligence announces the publication of a new report on "Control Valve Market - Forecasts from 2019 to 2026” to their giving.
As per the report, the Control Valve Market is projected to grow at a CAGR of 5.01% to reach US$11.641 billion by 2026, from US$8.267 billion in 2019.
A control valve is a valve that controls fluid flow by altering the size of the flow passage in reaction to a controller signal. This allows for direct control of flow rate and, as a result, control of process quantities such as pressure, temperature, and liquid level. The control valves market is projected to be driven by growing automation in different process sectors, increased investment in the oil and gas industry, and the high-power demand. They are widely utilised in sectors such as food and beverage, oil and gas, water and wastewater, petrochemical, energy and electricity, and pharmaceuticals. They play a critical role in boosting the profitability, safety, and efficiency of numerous production processes in the end-use sectors. Furthermore, due to the benefits, they provide in terms of temperature or pressure management throughout downstream, midstream, and upstream operations, the usage of control valves in sectors is continually increasing. However, lack of standardization certifications and government regulations might stifle the growth of the valves market since manufacturers must modify the same product to meet regional standards, making it difficult for valve manufactures to reach an optimum cost of installation. To overcome this concern, they must spend their resources in establishing production plants throughout the world which requires additional capital.
The COVID-19 pandemic has affected the global market for control valves negatively. Several firms in the global control valve market ceased their operations to comply with new government restrictions aimed at limiting COVID-19 spread. This halt in operations had a direct influence on the revenue flow of the control valve market globally. Furthermore, raw materials were not being supplied to producers of control valve devices. Demand for control valves in sectors such as oil and gas and chemical projects is projected to rise throughout the forecast period. As a result, the control valve market impacted by a halt in production operations and lockdowns is expected to recover gradually in 2021.
Based on type, the market currently exists fragmented into Linear and Rotary Valves. Linear valves are further segmented into Globe, Pinch and Others. Rotary Valves are further segmented Ball, Plug and Butterfly.
Based on material, the classification of the market currently exists fragmented into Steel, Iron and Others
Based on the size, the classification of the market currently exists fragmented into Less than 2'', 2'' to 8'' and Above 8''
Based on industry vertical, the classification of the market currently exists fragmented into Oil and Gas, Water and wastewater, Food and Beverages, Energy and Power and Others
Based on geography, the global market has been distributed as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
As a part of the report, the major players operating in the control valve market, which have been covered are Emerson, Velan Inc, Alfa Laval, Samson AG., Burkert Fluid Control System, Curtiss- Wright Corporation, Neway Valves, Flowserve Corporation, Neles, The Weir Group PLC
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/control-valve-market
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