Control Valves Market Is Primarily Driven by Increasing Investment in the Oil and Gas Sector
The control valves market by applications is divided into nine segments, namely: power generation, oil and gas, wastewater management, automotive, pharmaceuticals, mining, chemicals, food and beverages and others.
Albany, NY -- (SBWire) -- 12/30/2015 --The major usage of control valves is to control conditions such as pressure, temperature, flow and liquid level either fully or partially closing or opening the valve in response to the signals being received from controllers. Control valves are used in various industries such as power generation, oil and gas, wastewater management, automotive, pharmaceuticals, mining, chemicals and food and beverages among others. The global control valves market has been segmented on the basis of types, application and geography. In terms of product type, the control valves market has been segmented into pneumatic control valves, hydraulic control valves and electric control valves. A cross sectional study of the global control valves market broadly across geographical segments has also been covered under the scope of the study.
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The market for control valves is primarily driven by factors such as increasing investment in the oil and gas industry and increasing number of pipeline installations to ensure efficient fluid handling across different industry verticals. Moreover, in order to meet the increasing demand of processed foods from the emerging markets like China. India and Brazil, the food processing industry is challenged with the uphill task of producing their products faster than ever before. This resulted in the growing demand for control valves to ensure efficient food processing and control processing environments. Furthermore, the demand for control valves also is expected be high in the pharmaceutical industry as various pharmaceutical companies are investing in sophisticated fluid handling systems in order to speed up the manufacturing process. Deploying efficient control valves systems ensures improvement of hygiene during the manufacturing process and reduces the scope of leniency regarding safety issues. Increased numbers of industrial infrastructure projects in developing countries coupled with increasing investments in the shale gas sector are also expected to boost the demand for control valves during the forecast period.
As per recent trends, it has been observed that, the manufacturers of control valves are constantly engaging in research and development activities to design their products in a way as to match the changing requirements arising out from the various industries. There has been an increasing emphasis on designing and manufacturing control valves that would eliminate periodic maintenance. Due to the innovation in product offerings for electric control valves, the demand for the same has increased drastically in the recent past. Electric control valves are more efficient and enable greater level of controls as compared to the other type of valves. Furthermore, it has also been observed that low cost alternatives of control valves offered by Asian companies possess a challenge to the established brands
The competitive profiling of the key players in the global control valves market and their market shares across four major geographic regions which include North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW) has been exhaustively covered under the purview of the study. Moreover, the distinct business strategies that have been adopted by the major players in the market have also been included in the report. For providing a detailed insight into the global control valves market, the market attractive analysis has been provided in the report.
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A comprehensive analysis of market dynamics, which include the market drivers, restraints and opportunities, is included under the scope of the report. Market dynamics are the distinctive factors that influence the growth of the specific market and therefore help to study the current trends in the global market. Thus, this report provides an inclusive study of the global control valves market and also provides the forecast of the market for the period from 2015-2021.
Some of the major players in the market are: Emerson Electric Co. (U.S.), Flowserve Corporation (U.S.), Metso Corporation (Finland), MIL Control Limited (India), Pentair Plc (UK), General Electric Company (U.S.), Samson AG (Germany), Crane Fluid Inc (U.S.), IMI Plc (UK) and Velan Inc. (Canada) among others.
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