Control Valves Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Albany, NY -- (SBWire) -- 01/25/2018 --The presence of a copious number of regional and international players has made the control valves market substantially fragmented and competitive, says Transparency Market Research. To ensure that companies survive such intense competition, large international players mainly get involved in mergers and acquisitions with smaller market players. In this way, not only can large companies expand their businesses, but they can also bolster their position in the industry.

Such companies are also working on expanding their product portfolios through technological innovations to improve their positions. Some of the most prominent players in the control valves market are: Emerson Electric Co., Schlumberger Limited, Honeywell International Inc. General Electric Company, and Goodwin International Ltd, amongst many others.

According to a report published by Transparency Market Research, the global control valves market is expected to rise at a CAGR of 6.4% between 2017 and 2025. During this period, the market had a worth of US$6.01 bn in 2016 is anticipated to be worth at least US$10.46 bn by 2024.

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Butterfly Valve Segment to Continue to Exhibit Healthy Growth
The control valves market is mainly segmented on the basis of four main criteria that are: type, application, actuation technology, and prominent countries. These segments are further divided into several sub-segments that are explained in detail in the TMR report. Of all these categories, the butterfly valve segment present under the type category held the top spot regarding revenue in 2016, and its growth is expected to rise at a healthy rate in the future.

From a geographical perspective, North America holds the leading position in the global control valves market. A good market stint in this region is mainly due to extensive shale gas exploration. The control valves play an important role in shale gas exploration projects by helping to regulate the excess pressure and temperature generated during the extraction activities. As per the TMR report, the regional control valves market in North America is prophesized to grow at a rising CAGR of 5.1% from 2017 to 2025 and reach a revenue of about US$2.936 bn by 2025.

Natural Gas and Oil Exploration Contribute Towards Rising Market Graph
The growth of the power sector is one of the most prominent drivers of the global control valves market. Never-ending innovations and developments in this industry are all responsible for growth in the power industry all over the world, especially due to its high requirement in numerous activities. Another prime reason leading to an upsurge in this market is because of a substantial number of natural gas and oil exploration undertakings around the globe.

The control valves are extensively used in the chemical industry, which is anticipated to gain a high traction especially in countries such as China and Japan. Thus, the improving chemical industry in these countries is a significant booster for the regional control valves market, thereby positively influencing the overall control valves market.

Talking about restraints, the shortfall of technical experts is a significant factor that may dampen the global control valves market's rise. This is mainly due to an inherent low population of people who venture out to learn the operation of control valves and associated processes. However, this picture is soon expected to change as the valve operations are becoming less complex and easier to understand. Increasing awareness about this field also is expected to improve the number of technical experts in this market.

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