According to the latest market research study released by Technavio, the global control valves market is expected to grow at a CAGR of close to 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global control valves market based on product type:
Global control valves market share by actuator type 2015
|
Pneumatic |
84.83% |
|
Electrical |
8.16% |
|
Hydraulic |
7.01% |
Source: Technavio
Global pneumatic control valves market
During 2015, pneumatic control valves accounted for almost 85% of the overall market revenue. The market’s growth is attributable to the extensive application of pneumatic control valves in industry segments such as oil and gas, chemicals, and petrochemicals sectors. The demand for low cost and less complex control valve solutions is expected to drive further growth of the global pneumatic control valves market during the forecast period. Vendors in this market space are expected to invest in R&D activities to improve the product design of pneumatic control valves in the coming years.
“Several vendors in the market are currently working on the development of next-generation valves with additional capabilities. Such technologically advanced variants are expected to feature threaded bonnets, a floating polytetrafluoroethylene diaphragm, and a zero-minimum operating differential design to provide substantial benefits over the conventional valves. These next-gen valves are capable of delivering a flow rate that is around 60%, can improve the operational life, and have a wide temperature range and pressure handling ability that can improve the efficiency of industrial production processes,” says Anju Ajaykumar, a lead analyst at Technavio for research on tools and components.
Global electric control valves market
The global market for electric control valves was valued at almost USD 594 million and is expected to undergo significant growth during the forecast period. The growth of the market is likely to be driven fundamentally by technological advancements made to existing models of electric control valves. Furthermore, developments such as rugged electric actuators with armored cables and water-resistance capability are also anticipated to augment the demand for electric control valves in the global market during the forecast period.
Global hydraulic control valves market
Hydraulic control valves are a significant component in hydraulic machines as they control the flow of fluid to maintain the required pressure in the system. Based on their application, hydraulic control valves can be further classified into directional valves, pressure valves, and flow valves. Hydraulic control valves are mainly used in high-pressure applications such as oil and gas, extraction and production (conventional and unconventional process), coal-fired power generation, and mining processes. Driven by the increasing awareness about hydraulic control valves, the global market for hydraulic control valves is expected to undergo substantial growth over the next few years.
The top vendors operating in the global control valves market are:
- Curtiss-Wright
- Emerson Electric
- Flowserve
- Weir Group
Other prominent vendors in the market include Alfa Laval, GE, IMI, KSB, L&T Valves, Neway Valve (Suzhou), Valvitalia Group, Velan, and Watts Water Technologies.
A more detailed analysis is available in the Technavio report titled, ‘Global Control Valves Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global HVAC Valves Market 2016-2020
- Global Water and Gas Valves Market 2016-2020
- Global Pneumatic Equipment Market 2016-2020
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