According to Fact.MR, a market research and intelligence firm, the global control valve sector will be worth more than $5 billion by 2020. Automation in control valves is a crucial factor in increasing control valve sales.
Furthermore, increased demand from end-user industries such as oil and gas, healthcare, and wastewater management is propelling control valve sales forward. As a result, by the end of 2031, the control valves market will have grown by almost 3x to a market value of over US$ 17 billion.
Key Segments Covered
-
Actuation Technology
- Manual Control Valve
- Pneumatic Control Valve
- Hydraulic Control Valve
- Electric Control Valve
-
Valve Type
- Ball Control Valve
- Butterfly Control Valve
- Globe Control Valve
- Plug Control Valve
- Other Control Valves
-
Application
- Control Valves for Metal & Mining
- Control Valves for Pulp & Paper
- Control Valves for Power Generation
- Control Valves for Oil & Gas
- Control Valves for Chemicals
- Control Valves for Food & Beverages
- Control Valves for Automotive
- Control Valves for Pharmaceuticals
- Control Valves for Water & Wastewater Management
- Control Valves for Other Applications
Competitive Environment
Manufacturers are producing innovative control valves that are equipped with smart technologies and sensors that allow for very accurate assessment of many parameters such as liquid levels, pressure, and temperature. The following are some notable developments:
Emerson Electric Co. released the ASC Series 158 Gas Valve with Series 159 Motorized Actuator in February 2020. The new products, which are designed exclusively for burner-boiler applications, provide end users with a new cutoff option that improves safety and reliability.
Similarly, Bürkert released a redundancy block with valves and pressure switches in November 2019 for applications with high safety requirements. They are pneumatically mounted in a row behind the valves on the valve terminal for a redundant switch-off option.
Click Here To get a Sample Report (Including Full TOC, Table & Figures):-https://www.factmr.com/connectus/sample?flag=S&rep_id=439
