Stainless Steel Control Valves Market - Segment and Forecast upto 2023
Albany, NY -- (SBWIRE) -- 06/17/2016 -- Stainless steel control valves are used for controlling the flow, pressure, and liquid levels of fluid systems, by either fully or partially opening and/or closing the valve as per the signals received from the controllers. Their ability to function in various temperatures and resistance to corrosive fluids are the primary reasons for their increasing number of applications across various industries.
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Reliability to Drive Electric Control Valves Segment
Some other factors anticipated to propel the global stainless steel control valves (less than 2 inches) market are the increasing importance of wastewater management, the rapid growth of the application of small-scale liquid handling systems in the electronic manufacturing industries, and advancements in technology. The increasing numbers of commercial and residential projects and industrial infrastructure projects in developing countries are further expected to contribute towards the growth of the global stainless steel control valves (less than 2 inches) market in the years to come. Based on technology, the global stainless steel control valves (less than 2 inches) market is classified into electric, manual, pneumatic, and hydraulic control valves. Electric control valves are reliable and more efficient compared to all other types of control valves available in the market. The electric control valves segment, thus, is expected to be the dominant segment in the global stainless steel control valves (less than 2 inches) market throughout the forecast period.
By type, the global stainless steel control valves (less than 2 inches) market is classified into globe, cryogenic, ball, and butterfly control valves. Currently, the butterfly control valves segment dominates the global stainless steel control valves (less than 2 inches) market and is expected to maintain its dominant position throughout the forecast period.
Power Generation Segment to be Dominant Application
Based on applications, the market is segmented into power generation, chemical industry, oil and gas, wastewater management, semiconductor and electronics manufacturing, and others. In 2014, the power generation segment dominated the global stainless steel control valves (less than 2 inches) market. Due to time efficiency and hygiene factors, pharmaceutical companies are increasingly investing in sophisticated small-scale fluid handling systems, thus accelerating the demand for stainless steel control valves in the years to come.
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Emerson Electric, Co. (U.S.), IMI Plc (U.K.), General Electric, Co. (U.S.), Samson AG (Germany), Velan Inc. (Canada), Kimray Inc. (U.S.), Swagelok Co. (U.S.), CIRCOR International, Inc. (U.S.), Cameron International Corporation (U .S.), and Richards Industries, Inc. (U.S.) are some of the prominent players in the global stainless steel control valves (less than 2 inches) market.