Control Valves Market Size & Share, By Component (Valve Body, Actuators), Size, Product, Application (Oil & Gas, Chemical, Energy & Power, Pharmaceutical, F&B), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Control Valves Market exceeded USD 6.76 Billion in 2023 and is expected to cross USD 13.27 Billion by end of the year 2032, observing around 9.6% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 6.76 Billion
• CAGR (2024-2032): 9.6%
• Forecast Year Value (2032): USD 13.27 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Rapid industrialization and increasing investments in infrastructure projects are fueling the demand for control valves. Additionally, the rise in automation in various industries such as oil & gas, water & wastewater treatment, and chemical processing is driving the market growth. Moreover, the increasing focus on energy efficiency and conservation is also propelling the adoption of control valves in different applications.

Report Scope

Report Coverage	Details
Segments Covered	Component, Size, Product, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Emerson Electric Co., Flowserve, IMI , Alfa Laval AB, AVK Holding A/S, Eaton, Honeywell International, Velan, Burkert Fluid Control System, Valvitalia SpA

Industry Restraints:

On the other hand, the high initial investment required for the installation of control valves is acting as a major restraint for market growth. Additionally, the lack of skilled professionals to operate and maintain control valves is also hindering the market growth. These factors are limiting the widespread adoption of control valves in various industries.

Regional Forecast:

- North America: The control valves market in North America is expected to witness steady growth, driven by the presence of key players in the region, technological advancements, and increasing investments in the oil and gas, power generation, and chemical industries.

- Asia Pacific: The control valves market in Asia Pacific is projected to experience significant growth due to the expanding industrial sector in countries like China, Japan, and South Korea, as well as increasing demand for automation solutions in various industries.

- Europe: The control valves market in Europe is poised for growth, supported by favorable government regulations promoting energy efficiency, the presence of established manufacturing industries in countries like the United Kingdom, Germany, and France, and increasing adoption of smart control valves in various industrial applications.

Segmentation Analysis:

In terms of segmentation, the global control valves market is analyzed on the basis of Component, Size, Product, Application

Control Valves Market:

Valve Body:

The valve body component of the control valves market is witnessing significant growth due to the increasing demand for efficient flow control and regulation in various industries such as oil & gas, chemical, energy & power, pharmaceutical, and F&B. The rising adoption of advanced valve body technologies to enhance operational efficiency and reduce downtime is driving market growth.

Actuators:

The actuators segment of the control valves market is expected to showcase substantial growth owing to the growing need for automated and remotely operated control valves in industries. Actuators play a crucial role in controlling the movement of valves and regulating fluid flow, thereby improving process efficiency and productivity across different applications.

Size:

The control valves market segmented by size is experiencing a surge in demand for compact and lightweight valves that offer high precision and reliability in flow control operations. Manufacturers are focusing on developing innovative and miniaturized control valves to meet the specific requirements of various industries, driving market growth in this segment.

Product:

Various product offerings in the control valves market, such as globe valves, butterfly valves, ball valves, and others, cater to diversified applications in industries like oil & gas, chemical, energy & power, pharmaceutical, and F&B. The increasing adoption of technologically advanced and customizable control valve products is propelling market growth across different product segments.

Application:

The control valves market segmented by application, including oil & gas, chemical, energy & power, pharmaceutical, and F&B industries, is witnessing substantial growth due to the rising demand for precise control and regulation of fluid flow processes. Control valves play a crucial role in enhancing operational efficiency, safety, and reliability in various applications, thereby driving market growth across different industry segments.

Competitive Landscape:

The control valves market is highly competitive with several key players operating globally. These companies offer a wide range of control valves for various industries such as oil and gas, water treatment, chemical, and power generation. Some of the top market players in the control valves market include:

1. Emerson Electric Co.

2. Flowserve Corporation

3. Cameron International Corporation

4. IMI plc

5. Metso Corporation

6. Pentair Ltd.

7. Watts Water Technologies, Inc.

8. Curtiss-Wright Corporation

9. Kitz Corporation

10. Honeywell International Inc.