Latest News- Control Valves Market: Pneumatic is expected to lead the Application segment during 2024-2028

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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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Pneumatic
  • Electrical
  • Hydraulic
• Product
  • Sliding shaft
  • Rotating shaft
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Russia
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising investments in fluid handling
• Growth in renewable energy
• Stringent environmental regulations

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices
• Counterfeit control valves restricting growth potential
• Intense competition in the market

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Market Scope in Control Valves Market Research Report

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Research Analysis Overview

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.

Market Research Overview

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.

Technavio Research
Jesse Maida
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