Global Market Analysis Report of Chemicals and Materials Industry: Control Valves Market

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Wednesday, 11 November 2020

Global demand of Control Valves Market 22:09

Control Valve Demand Set to Explode in Asia-Pacific in Coming Years

The surging population across the globe is the biggest factor responsible for the soaring demand for control valves. This is because the growing energy requirements, on account of the booming population, is pushing up the demand for consistent power plant performances. Moreover, it is fueling rapid advancements and innovations in the equipment and devices required for the processing, production, and transportation of energy and making the usage of these advanced devices highly essential in power plants.

Therefore, in order to meet the soaring energy demand, control valves are increasingly being used in power plants. This is, in turn, driving their sales across the globe. Besides being heavily used in power plants, control valves are also extensively used in the food and beverages industry. Because of this reason, the rapid growth of the food and beverages industry is causing a sharp surge in the sales of control valves.

Additionally, the launch of extensive infrastructural development and construction projects in several countries is propelling the demand for control valves. This is because of the mushrooming power requirements because of these large-scale infrastructural development activities all over the world. The other important factor boosting the sales of control valves is the growing demand for wireless infrastructure and facilities for monitoring and controlling systems and equipment in various industries around the world.

Due to the above-mentioned factors, the global control valves market is registering rapid advancement. Depending on actuation technology, the market is divided into pneumatic control valve, manual control valve, hydraulic control valve, and electric control valve. Out of these, the pneumatic control valve category recorded the highest growth in the market in the past years. This was because of the ability of the pneumatic control valves to provide consistent performance and accurate linear motion in different temperatures.

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Manish Baghel 0

Sunday, 27 September 2020

Global Control Valves Market Growth 22:09

Rising Oil and Gas Exploration and Production Fueling Global Demand for Control Valves

Due to the booming population in several countries, the demand for energy is soaring. This is, in turn, pushing up the requirement for consistent power production and transportation. Moreover, the rising energy requirements are causing rapid advancements and innovations in the systems used for producing, processing, and transporting energy. As control valves are heavily used in power plants for managing the flow of steam and water, the growing energy demand is positively impacting the sales of control valves.

Control valves are also used for keeping the energy demand-supply gap very narrow in order to prevent frequent power outages and load shedding. Furthermore, the discovery of several fossil fuel reserves in various Asia-Pacific (APAC) countries such as Thailand and China, on account of advancements in exploration and production (E&P) methods and technologies, is predicted to create lucrative growth opportunities for the companies producing control valves in the future years.

Additionally, the surge in E&P activities will boost the demand for control valves in the coming years. Because of these factors, the sales of control valves would climb in the forthcoming years, which would, in turn, cause the expansion of the global control valves market. According to the forecast of P&S Intelligence, a market research firm based in India, the market would grow, in valuation, from $11,137.0 million to more than $16,057.5 million from 2017 to 2023.

Globally, the control valves market is presently the most lucrative in Asia-Pacific (APAC) and North America. This is because of the widespread usage of these valves in various industries for maintaining the flow rates of fluids and production. In addition to this, the discovery of oil and gas fields and the huge investments made in the oil and gas industry are fueling the demand for control valves in these regions.

Hence, it can be said without any hesitation that the sales of control valves would shoot-up around the world in the forthcoming years, primarily because of their growing requirement in the power sector and oil and gas industry and their rising usage in the pharmaceuticals industry.

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Manish Baghel 0

Wednesday, 18 March 2020

Control Valves Market Size 02:57

Growing Use in Food & Beverages Industry Driving Control Valves Market

In 2017, the control valves market generated $11,137.0 million and is predicted to attain $16,057.5 million by 2023, registering a 6.3% CAGR during the forecast period (2018–2023). The market is growing due to the rising need for wireless infrastructure to monitor and control equipment, increasing infrastructure projects, surging use in the food & beverage industry, and high energy demand because of increasing population. A physical device which is utilized for controlling the flow of fluid by varying the size of the flow passage with the aid of a controller is called a control valve.

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When actuation technology is taken into consideration, the control valves market is categorized into electric control valve, manual control valve, hydraulic control valve, and pneumatic control valve. Among these, the pneumatic control valve category held the largest share of the market during the historical period (2013–2017), accounting for a volume share of over 35.0% in 2017, and is further predicted to retain its position during the forecast period. This is because these valves are simple to operate, offer precise linear motion, and can be utilized in a wide range of temperatures.

In terms of application, the control valves market is divided into wastewater management, power generation, pharmaceuticals, oil & gas, automotive, chemicals, food & beverages, and others (which include agriculture, mining, and marine). Out of these, the power generation division dominated the market during the historical period, in terms of volume. However, the oil & gas division is expected to account for the major share of the market in 2023. The pharmaceuticals division is predicted to grow at the fastest pace during the forecast period.

A key driving factor of the control valves market is the rising need for wireless infrastructure for monitoring and controlling equipment in different industries, such as power plants and oil & gas. Companies face difficulty in maintaining different units in large scale oil fields, which has resulted in the increasing usage of wireless infrastructure, including automated valves. These valves can be controlled from the central control unit. Attributed to these factors, various units of oil & gas facilities are being fitted with these valves that are controlled remotely.

The rising usage of control valves by the food & beverages industry is another key driving factor of the control valves market. Due to the increase in disposable income, people are increasingly spending their income on processed foods, which, in turn, has led to a growth in the number of food processing plants. These plants make use of control valves in different units. The commonly utilized valves in this industry are check, globe, and gate valves. Moreover, butterfly and ball valves are used by the dairy processing industry for preventing leakage and contamination.

A key trend being witnessed in the control valves market is the development of new valve technology, which includes the development of valves which are embedded withs sensors. Conventional valves were utilized mechanically without any chips or processors embedded in it. However, now the manufacturers are focusing on developing new technologies which will allow the valves to deliver real time data on flow rates and operating conditions. In addition to this, these valves will also aid in the prediction of maintenance and unplanned shutdowns.

Hence, the market is being driven by the increasing utilization of control valves in the food & beverages industry and rising requirement for wireless infrastructure to control and monitor equipment.

Manish Baghel 0