Control Valves Market : Evolving Technology, Trends and Industry Analysis
The market for control valves is primarily driven by the increase in energy consumption, coupled with the increasing demand for the same in process industries such as oil and gas. The demand for control valves is expected to rise as a result of the increase in investments in industrial infrastructure projects around the world, particularly in developing countries such as India, China, and Indonesia. The rise in pipeline installations across different countries is also expected to boost the demand for control valves in the coming years. In terms of revenue, the global control valves market was valued at US$8.92 bn in 2015 and is expected to reach US$15.41 bn by 2024. If these values hold true, the market is projected to expand at a 6.3% CAGR during the forecast period. The volume of the global control valves market is forecast to rise at a 5.9% CAGR from 2016 to 2024. Obtain Report Details @ http://www.transparencymarketresearch.com/control-valves-market.html On the basis of actuation technology, the control valves market was led by pneumatic control valves. The electric control valves segment is also a major contributor to the growth of this market and accounted for a share of over 20% in the global market in terms of both revenue and volume in 2015. This segment is driven by its increasing usage in the power generation, automotive, petrochemicals, and chemicals industries. By type, the market comprises ball valves, butterfly valves, cryogenic valves, globe valves, and others. Butterfly control valves led the market and find application in reverse osmosis, brine flow control, steam systems, desalination systems, petroleum production, and refining. The butterfly control valves segment is expected to continue its dominance through 2024. Make an Enquiry @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=534 In 2015, Asia Pacific held the leading share in the global control valves market on the basis of geography, accounting for more than 40% of the market. This market is primarily driven by
factors such as increasing investments in various industry verticals, the rapid development of industrial infrastructure, and the growing demand in the semiconductor and electronics manufacturing industries as well as the processed food industry. The control valves market in North America has been witnessing sluggish growth due to stagnant growth rates of most industry verticals in the region. However, the oil and gas, power generation, and wastewater management industries in North America are anticipated to expand in the near future due to above-average financial and technological investments from major players in respective sectors. The growing demand for control valves from different industry verticals such as oil and gas, chemicals, and power generation has led to the growth of the control valves market in several RoW countries. Some of the leading players in the control valves market are Flowserve Corporation (U.S.), Pentair PLC (U.K.), Emerson Electric Co. (U.S.), General Electric (U.S.), Samson AG (Germany), Crane & Co. (U.S.), VelanInc (Canada), Metso Corporation (Finland), and IMI Plc (U.K.). About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement. Contact Transparency Market Research 90 State Street, Suite 700
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