市场调查报告书
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1500301
全球控制阀市场 2024-2031Global Control Valve Market 2024-2031 |
预计在预测期内(2024-2031 年),全球控制阀市场将以 13.1% 的复合年增长率适度成长。市场成长归因于工业自动化的日益普及,以及水和废水处理、石油和天然气以及能源和电力行业等最终用途行业中智慧控制阀的使用。全球发电厂的扩张以及新兴经济体对能源和电力需求的不断增长推动了对控制阀的需求。核电厂也使用这些阀门,特别是在化学处理、给水、冷却水和蒸汽涡轮机控制系统过程中。
市场动态
Global Control Valve Market Size, Share & Trends Analysis Report by Component (Valve Body and Actuators), by Material (Stainless Steel, Cast Iron, Cryogenic and Alloy Based), by Type (Rotary Valves and Linear Valves), and by Process Industry (Oil & Gas, Energy & Power, Water & Wastewater Treatment, Food & Beverages, Metals & Mining, Chemicals, Pharmaceuticals, Building & Construction and Others) Forecast Period (2024-2031)
The global control valve market is anticipated to grow at a moderate CAGR of 13.1% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of industrial automation with the use of smart control valves in end-use industries such as water & wastewater treatment, oil & gas, and energy & power industries. The demand for control valves is being driven by the expansion of power plants around the globe as well as the growing need for energy and power from rising economies. Nuclear power plants also use these valves, particularly in the chemical treatment, feed water, cooling water, and steam turbine control systems processes.
Market Dynamics
Increasing Adoption of Digitalization and Smart Valves
The demand for smart control valves is fueled by the expansion of the oil and gas industry and the ongoing rise in global energy demand. The requirement to comply with environmental rules and strict safety norms propels the use of modern valve control systems. In industrial operations, smart control valve positioners are devices that precisely actuate and control valve openings and closures. They guarantee precise valve positioning and react promptly to modifications in the intended valve position. Precise control over flow rates, pressure levels, and other process factors is made possible by smart control valve positioners.
Growing Industrial Internet of Things (IIoT) Integration
IIoT (Industrial Internet of Things) platforms provide remote valve position monitoring and control, resulting in enhanced process optimization and decreased maintenance expenses. Furthermore, smart control valve positioners that are integrated with cloud-based platforms provide improved features like machine learning and data analytics for asset management and predictive maintenance. Additionally, chances for market expansion are going to arise from the combination of smart valve positioners with digital platforms and the introduction of innovative technologies like artificial intelligence and machine learning.
Market Segmentation
Our in-depth analysis of the global control valve market includes the following segments component, material, type, and process industry.
Rotary Valves is Projected to Hold the Largest Segment
Based on the type, the global control valve market is sub-segmented into rotary valves and linear valves. Among these linear valves, sub-segment is expected to hold the largest share of the market. The primary factors supporting the growth adoption of rotary valves for precise control and reliability in diverse applications including industries such as oil and gas, chemicals, and power generation, their effective flow regulation capabilities, and advancements in design and materials have accelerated the widespread adoption and prominence in the market. For instance, in September 2023, Coperion introduced a full access system for rotary valves that simplifies access and cleaning. Coperion FX (full access) extraction devices for rotary valves have been developed especially for applications with strict hygienic requirements in food production. These systems offer free, unimpeded access to the rotary valve's interior, for fast and easy cleaning or inspection.
Chemicals Sub-segment to Hold a Considerable Market Share
Based on the process industry, the global control valve market is sub-segmented into oil & gas, energy & power, water & wastewater treatment, food & beverages, metals & mining, chemicals, pharmaceuticals, building & construction, and others (pulp & paper). Among these, the chemicals sub-segment is expected to hold a considerable share of the market. The increasing adoption of autonomous control valves in harsh settings in the chemical processing industry is contributing towards segmental growth. Modern valves are made to withstand harsh, combustible gas and air combinations that are corrosive, abrasive, possibly explosive, and others. For instance, in February 2023, Yokogawa Electric Corp. launched an autonomous control AI service for use with edge controllers. AI was used to autonomously control a facility in a chemical plant that could not be controlled using existing control methods and necessitated the manual operation of control valves based on the judgments of plant personnel.
The global control valve market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Increasing Demand for Control Valve in Europe
North America Holds Major Market Share
Among all the regions, North America holds a significant share owing to numerous prominent software technology companies and control valve providers in the region. The growth is mainly attributed to the increased demand for automated valve operations in the food and beverage, energy and power, pharmaceutical, and water and wastewater industries. The control valve is well suited for use in oil refineries, chemical plants, and other establishments where tight shutdown control valves are necessary even in the face of high cycle times and bidirectional flow. For instance, in June 2023, Flowserve Corp. introduced the Valtek(R) Valdisk(TM) high-performance butterfly valve that is licensor-approved for use in Pressure Swing Adsorption (PSA) applications. The Valtek Valdisk butterfly valve joins the Valtek Mark One(TM) globe valve and Logix(TM) 3800 digital positioner from Flowserve, which are already licensor-approved for PSA applications. Valtek control valves and Logix automation extend equipment life and maintain purity in PSA skids.
The major companies serving the global control valve market include Baker Hughes, Emerson Electric Co., General Electric Company, Honeywell International Inc., and Johnson Controls, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in December 2023, Ampo Poyam Valves signed a collaborative agreement with Clarke Valve for the manufacturing, distribution, and service of zero-emissions dilating disk valves. The exclusive license covers manufacturing, distribution, and service, expanding the global market for zero-emissions dilating disk valves to projects of any size, anywhere, for the energy, chemical, power, and other major industries.
Recent Development