The Control Valves Market is being driven by Rising investments in fluid handling
The Control Valves Market is expected to grow at a CAGR of 5.33% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2770.3 million. Control valves have experienced notable advancements in design and functionality over the past few years. These enhancements include more compact designs, enhanced shutoff capabilities, and the integration of sophisticated sealing technologies. The new generation of control valves exhibit increased resistance to corrosion and erosion, as well as improved anti-cavitation and noise-reducing trims. A significant factor contributing to these improvements is the evolution of control valve positioners. Technological advancements have given rise to intelligent and digital valve positioners, which offer enhanced functionality and compatibility with digital communication protocols prevalent in industries. These smart and digital valves are expanding their scope and capabilities in response to the growing adoption of digital communication technologies.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.33% |
Market growth 2024-2028 |
USD 2770.3 million |
Market structure |
fragmentation |
YoY growth 2023-2024(%) |
4.96 |
Key countries |
China, US, Russia, India, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Control Valves Market encompasses a wide range of automatic components, including Solenoid Valves, that are essential for various industries such as Energy & Power, Oil & Gas, Water & Wastewater Treatment, Pharmaceuticals, and more. Industry players manufacture and supply these valves for use in Industrial Equipment, particularly in Power Generation Plants, Nuclear Power Plants, and Process Plants. Control Valves play a crucial role in regulating the flow of Cooling Water, Feed Water, and Chemical Treatment in these industries. With the increasing trend towards Automation and Wireless Infrastructure, Smart Control Valves are gaining popularity. These valves offer advanced features like real-time monitoring, predictive maintenance, and remote control, making them ideal for Connected Networks in the Energy & Power Industry. Medical Devices also utilize Control Valves for precise fluid control. The Oil & Gas Industry uses these valves for applications like oil production, refining, and transportation. In the Water & Wastewater Treatment Industry, Control Valves are used for water distribution, sewage treatment, and industrial water supply. The Pharmaceuticals Industry relies on these valves for the production of various drugs and chemicals. Overall, the Control Valves Market is expected to grow significantly due to the increasing demand for efficient and intelligent Industrial Equipment.
The industrial machinery and supplies and components market encompasses businesses involved in the manufacturing of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the global market size for industrial machinery and supplies and components is determined by the consolidated revenue generated by manufacturers supplying equipment for industrial applications. Key growth drivers for this market include the increasing industrial output in process and discrete industries, fueled by expanding economies in developing countries, leading to capacity expansions in sectors such as energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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