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Oil & gas industries and rise in number of industrial infrastructure project in developing countries is projected to cater to market growth.
PORTLAND, OR, UNITES STATES, February 22, 2023 /einpresswire.com / -- The global control valve market size accounted for $5.40 billion in 2019, and is expected to reach $7.96 billion by 2027, registering a CAGR of 7.0 % from 2020 to 2027.
The report analyzes the global control valve market on the basis of type, operation, application, and region. The types of control valve covered in this report are linear control valve and rotary control valve. Increase in applications of control valves in oil & gas, electrical power, and mining sectors, such as exploration and production, downstream oil & gas activities, and power generation are expected to foster growth in the future. Moreover, the global control valve market is poised to witness significant growth during the forecast period, owing to growth in oil & gas and power generation sectors, increase in demand for automation in process industries, and rise in demand for control valves in pharmaceutical and food & beverage process industries. Some of the restraints associated with the control valve market are high initial investments and competition from domestic manufacturers.
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Major Key Players of the Control Valve Market are:
Crane Co., Alfa Laval Corporate AB, Emerson Electric Co., Flowserve Corporation, Schlumberger Ltd, Metso Corporation, KSB SE & Co. KGaA, KITZ Corporation, Samson Aktiengesellschaft, Velan Inc.
In addition, implementation of automation technologies has assisted in reducing wastage of liquids passing through pipes and valves, which result in reduction of costs. Various industries adopt automation and control technologies by upgrading their pre-installed industrial valves, which, in turn, drives the market growth. Furthermore, focus on increasing production of oil & gas in North America has created a high demand for control valves in the region. Investments for extraction of oil & gas has propelled substantially, which has led to infrastructural development. This is expected to create massive demand for control valves, which would boost growth of the market.
The global control valve market is segmented on the basis of type, operation, application, and region. On the basis of type, the market is divided into linear, and rotary. The linear segment had the highest revenue in 2019. On the basis of operation, it is classified into pneumatic control valve, hydraulic control valve, and electrical control valve. The pneumatic control valve segment had the highest revenue in 2019. On the basis of application, the market is divided into electrical power, oil & gas, water & wastewater, automotive, pharmaceuticals, mining, chemicals, food & beverages, and others. The water & waste-water management segment had the highest revenue in 2019.
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Key Market Segments –
By Type
.Linear
.Rotary
By Application
.Electrical Power
.Oil & Gas
.Water & Wastewater
.Automotive
.Pharmaceuticals
.Mining
.Chemicals
.Food & Beverages
.Others
Regional Analysis:
Region wise, the global control valves market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Allied Analytics LLP
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