Global Control Valve Market Research Report: Information by Valve Type (Gate Valve, Globe Valve, Diaphragm Valve, Ball Valve, Butterfly Valve, Check Valve and others), by Valve Size (Less than 1”, 1" to 6", 6" to 25", 25" to 50" and 50" & Above), By Component (Valve Body, Actuators and others), By End-Use (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals, Food & Beverage, Pharmaceuticals and others) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Control valves are mechanical devices that control the flow of fluids in a system by varying the size of the flow passage. Furthermore, they also regulate and control several conditions, such as fluid level, temperature, and pressure, as per the signal received from the control system. The partial or entire opening or closing of control valves is carried out by the actuators. The major components of the valve include its body, bonnet, disk, seat, trim, stem, and plug. Control valves are used mostly in the operations of oil & gas, water & wastewater, chemicals, food & beverage, marine, energy & power, and other industries.
The factors driving the growth of control valve market are increasing investments in water & wastewater industry and construction & upscale of nuclear power plants. The water & wastewater treatment industry consists of several chemical or physical treatment processes and biological wastewater treatment processes for the removal of pollutants & harmful contaminants, such as sulfur, nitrates, and bacteria, from water. According to the Organization for Economic Co-operation and Development (OECD), in 2017, in Chile, approximately 99.97% of the population has access to wastewater treatment plant. Furthermore, as per Infrastructure Report Card published by the American Society of Civil Engineers, in 2017, there were 14,748 wastewater treatment plants in the US. Moreover, the demand of wastewater treatment plants is expected to increase by 23% with an estimated investment of USD 271 billion by 2032. Such developments lead to the increase in use of control valves as they help obtain greater control and monitor the flow of water, sludges, and chemicals in the water & wastewater industry.
For the purpose of study, the global control valve market is segmented based on valve type, valve size, component, end use, and region. By valve type, the global market is segmented into gate valve, globe valve, diaphragm valve, ball valve, butterfly valve, check valve, and others. By valve size, the global market is segmented into less than 1”, 1" to 6", 6" to 25", 25" to 50", and 50" & above. On the basis of component, the global market has been segmented into valve body, actuators, and others. On the basis of end use, the global control valve market has been segmented into oil & gas, water & wastewater treatment, energy & power, chemicals, food & beverage, pharmaceuticals, and others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Nuclear power plants are used to generate electricity with the help of nuclear reactors by splitting uranium atoms through fission reaction. The heat generated by the nuclear reactor converts water into steam, which rotates turbine and generators, generating electricity. In 2018, the share of electricity generated by the nuclear power was 10.15% in the world’s total electricity generation. Moreover, as per World Nuclear Industry Status Report, 2019, as of the 3rd week of September 2019, there were 415 nuclear reactors operating, globally. Moreover, as of July 2019, there are 46 nuclear power plants under construction phase, globally. Authorities in many countries, such as the US, China, and Russia, are focusing on the construction of new nuclear power plants and the upgrade of the existing plants. For instance, the Chinese Government is working on construction of nuclear power plants, which will lead to the development of two nuclear reactors, namely Fuqing units 5 and 6 in Fujian province of China. Such developments help in the electricity generation to meet the electricity demand of China.
Emerson Electric Co. (US), Flowserve Corporation (US), IMI plc (UK), ALFA LAVAL (Sweden), Crane Co. (US), Eaton (Ireland), Curtiss-Wright Corporation (US), General Electric (US), Pentair plc (US), First Reserve (Scotland), Velan Inc. (Canada), Schlumberger Limited (US), SAMSON (Germany), Burkert Fluid Control Systems (Germany), and Metso Corporation (Finland) are some of the major players in the Global Control Valve Market