2021-2026 Control Valve Market Growth Trend And Future Expectations

The competition in the control valve market is relatively moderate, with several major companies involved. With the growing demand for control valves, many new companies are also opening up customers in emerging economies in an effort to increase their market share.
Control valves can be segmented into markets by valve design type (globe valves, ball valves, butterfly valves, Angle valves, diaphragm valves, others), end-user industries (Oil & Gas, chemical, energy & Power, Pharmaceutical, Food & Beverage, other end-user industries) and region.
Market overview:
In 2020, the control valve market size was $10.12 billion and is expected to reach $12.19 billion by 2026, with a compound annual growth rate of 3.67% during the 2021-2026 reporting 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 pharmaceuticals are moving toward valve technologies with embedded processors and networked capabilities to coordinate complex monitoring technologies through a central control station.
In addition, due to the rapid growth in the number of solar power plants, the advancement 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 is also expected to lead to the construction of several new plants for combined cycle gas turbines (CCGT), and accordingly drive the demand for control valves during the reporting period.
A control valve controls the flow of a fluid, such as a gas, steam, water, or compound, to compensate for load perturbations and to bring the variables produced by the regulation process as close as possible to the desired set point. Control valves are the most important part of any process control loop because they are critical to the overall performance of the process, especially in processes where reliability and productivity are the primary objectives.
Key market trends:
(1) The pharmaceutical industry occupies a major market share
Advances in sensor and valve technology allow pharmaceutical companies to reduce total cost of ownership, maximize uptime and reduce maintenance costs to increase manufacturing capabilities. The Actuator head of the control valve can be rotated 360° for flexible installation and optimized alignment of the intake ports. This, in turn, reduces overall installation costs for new and existing projects and optimizes the integration of actuators during the manufacture of the compact valve array.
New technologies adopted by pharmaceutical companies help the control valve industry to develop and introduce new components that, together with sterile valves, bring a high level of control, complete and accurate valve status.
(2) Notable growth in the Asia-Pacific region
Growing populations are increasing urbanization, and the region's expanding middle class is driving demand for the oil and gas, power, and chemical industries, such as China, India, Japan, and other emerging countries and regions in the region.
In addition, rapid industrialization and growing transportation sectors in these countries and regions are expected to increase the demand for oil and gas. The need to provide drinking water for China's growing population is also driving the construction of desalination plants, further stimulating the demand for control valves. Waste and wastewater management is also a huge market driving the demand for control valves.