Market growth trend, covid-19 impact and future expectation of control valve market from 2021 to 2026
The competition in the control valve market is relatively moderate, with several major enterprises participating in it. With the increasing demand for control valves, many new enterprises are also developing customers in emerging economies and trying to improve their market share.
Control valves can be subdivided into markets according to valve design types (stop valve, ball valve, butterfly valve, angle valve, diaphragm valve, others), end-user industries (oil and gas, chemical industry, energy and power, pharmaceutical, food and beverage, other end-user industries) and regions.
In 2020, the market scale of control valve will be US $10.12 billion, which is expected to reach US $12.19 billion by 2026, with a CAGR of 3.67% during the reporting period from 2021 to 2026. During the period, investment in pipeline and infrastructure development is expected to stimulate the market demand for control valves.
Major industries such as oil and gas and pharmaceutical are developing towards valve technology with embedded processor and internet capability, so as to complete the collaborative work of complex monitoring technology through the coordination of central control station.
In addition, due to the rapid growth of the number of solar power plants, the promotion of renewable energy projects has expanded the application field of control valves.
The expansion of power infrastructure and the supply of natural gas in the United States are also expected to lead to the construction of several new combined cycle gas turbine (CCGT) plants, and promote the demand for control valves during the reporting period.
The control valve controls the flowing fluid, such as gas, steam, water or compound, to compensate for the load disturbance and make the variables generated by the regulation process as close as possible to the required set value. Control valves are the most important part of any process control circuit, because they are very important to the overall performance of the process, especially in the process flow with the main goal of achieving reliability and productivity.
By terminal application industry:
Control valves can be divided into oil and gas, chemicals, energy and power, pharmaceutical, food and beverage and other end-user industries.
North America (USA, Canada), Europe (UK, Germany, France, Italy, other European countries and regions), Asia Pacific (China, Japan, South Korea, India, other Asian countries and regions), Latin America (Mexico, other Latin American countries and regions), the Middle East and Africa.