Control Valve Market Dynamics, Share, Specifications, Analysis and Forecasts 2018-2023

1. Control Valve Market Dynamics, Specifications, Share, Analysis and Forecasts 2018-2023 “The Control Valve Market is expected to grow from USD 7.48 billion in 2018 to USD 10.62 billion by 2024, at a CAGR of 6.02% from 2018 to 2024.” The Control Valve Market is expected to grow from USD 7.48 billion in 2018 to USD 10.62 billion by 2024, at a CAGR of 6.02% from 2018 to 2024. The key factors driving the growth of this market include the increased need for connected networks to monitor/maintain various equipment in plants and commissioning of new nuclear plants, along with the upscaling of existing nuclear plants. Among all applications, the oil & gas industry is expected to account for the largest size of the control valve market during the forecast period. Recent uptrend in the oil & gas industry has boosted the demand for and increased the production of oil and gas in the Middle East and North America. Growing production of oil sands and shale gas fuels the demand for control valves in North America, and the increased investments in natural gas exploration and refineries are likely to boost the demand for these valves during the forecast period. Additionally, technological advancements and the adoption of more innovative valves for oil and gas transportation are the major factors that are likely to have a positive impact on the control valve market growth. The control valve market for actuators will grow at the highest CAGR during the forecast period. The demand for pneumatic actuators will be the highest and drive the market for actuators during the forecast period. Electric and hydraulic actuators will also drive the market during the forecast period due to increasing demand from oil & gas, energy & power, water & wastewater treatment industries. Plug valves will be the fastest-growing market for control valves during the forecast period. The market for control plug valves is expected to grow at a rapid pace in the coming years due to the competitive trend in APAC and European chemical companies to handle acidic and alkaline (corrosive) liquids, slurry, neutral gases (such as steam and air), and corrosive gases (such as chlorine and acid vapors). Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=111759647

2. Control valves require huge investments during initial set up due to the addition of actuators and valve control software. The requirement and cost of valves vary with the size of the plant and application. This could be a factor limiting the adoption of control valves in several applications. Downtime due to malfunctioning of valves, which can be resolved by replacing or repairing valves, can seriously impede business success, depending on the frequency and duration. For instance, in oil & gas and energy plants, downtime can lead to losses. Therefore, the malfunctioning of valves acts as a factor restraining the growth of the control valve market. However, industry players are trying to overcome this situation by adopting predictive maintenance or condition monitoring solutions to quickly and accurately predict faults in the system and find a solution. Oil & gas industry to account for largest size of control valve market from 2018 to 2024 The oil & gas industry is expected to be the key end-use industry for control valve market owing to the increasing production of crude oil and rising demand for petroleum products from growing economies such as China, India, Brazil, and Southeast Asian countries. Activities such as increasing production in China, growing offshore exploration in India, and emerging new natural gas projects in the Philippines will boost the demand for control valves in APAC for the oil & gas industry. Recent discoveries of shale gas reserves in North America will boost the production and increase the demand for control valves for oil & gas end-use industry during the forecast period in North America. The resurgence of the oil & gas industry after the recent slump will witness an increased production in the Middle East and will boost the demand for control valves from upstream, midstream, and downstream sectors. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=111759647 Control valve market for actuators to grow at highest CAGR from 2018 to 2024 The control valve market for actuators will grow at the highest CAGR during the forecast period. The oil & gas, energy & power, and chemicals industries are likely to have a high demand for pneumatically actuated control valves due to the availability of steam to power actuators. Pneumatically operated control valve actuators are the most popular type in use; however, electric and hydraulic actuators are also gaining traction. Adaptations of pneumatic piston actuators are available for direct installation on rotary-shaft control valves. Electric and electro-hydraulic actuators are more complex and expensive than pneumatic actuators. APAC to hold largest share of control valve market from 2018 to 2024 The control valve market in Asia Pacific (APAC) accounted for the largest share of the overall market in 2017 and is expected to grow at the highest CAGR during the forecast period. Major factors driving the growth of the valve market in APAC include increasing population and rising focus of emerging economie

3. on investing in industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction in which control valves are used. Emerson (US), IMI PLC (US), Flowserve (US), and Weir Group (UK) are among a few major players in the control valve market. About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com