Control Valves Market

Global Control Valves Market:

The global control valves market size reached US$ 9.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032. The escalating demand for stainless steel product variants, along with the increasing trend of industrial automation, is primarily bolstering the market.

Control Valves Market Analysis:

• Major Market Drivers: The rising levels of industrialization are among the primary factors stimulating the global market. Moreover, stringent regulatory standards by government bodies are also acting as significant growth-inducing factors.
• Key Market Trends: Numerous innovations in the design and functionality of control valves are catalyzing the global market. Apart from this, the inflating integration of sensor technologies and digital control systems is further positively impacting the overall market.
• Competitive Landscape: Some of the prominent companies in the market include Christian Bürkert GmbH & Co. KG, Curtiss-Wright Corporation, Emerson Electric Co., Flowserve Corporation, Honeywell International Inc., IMI plc, KITZ Corporation, SAMSON AG, Spirax-Sarco Engineering plc, Valvitalia SpA, and Velan Inc., among many others.
• Geographical Trends: North America exhibits a clear dominance in the market, owing to the widespread adoption of smart manufacturing practices. Besides this, the growing emphasis on energy efficiency and sustainability is also stimulating the regional market.
• Challenges and Opportunities: One of the challenges hindering the market is the increasing concerns regarding maintaining reliability and precise control under varying operational conditions. However, the widespread integration of smart control technologies and advanced materials to improve durability and performance will continue to fuel the market in the coming years.
   

Control Valves Market Trends:

Increasing Industrial Automation

The rising need for operation efficiency and cost-effectiveness is increasing the importance of control valves in several systems, as they facilitate the control of fluid pressure, flow, and temperature. For instance, in May 2024, Emerson announced the development of new AVENTICSTM Series 625 sentronic proportional pressure control valves. Moreover, they are designed to deliver highly accurate and electronic proportional pressure control and offer the flexibility needed to support pneumatic control engineering applications. Additionally, the diverse types of valves ensure an adaptive and responsive control system that optimizes performance and minimizes human error, which is acting as another significant growth-inducing factor. For example, in April 2024, Festo, one of the providers of automation technologies based in Germany, is catering to the developing needs of industries worldwide. The company developed its latest innovation in the form of the Valve Terminal VTUX, which can be easily incorporated into the smallest of spaces. Apart from this, control valves allow for real-time decision-making, which, in turn, improves operational efficiency and predictive maintenance capabilities. In May 2023, Beckhoff launched the MX-System, which revolutionized control cabinets by replacing wiring with baseplates for the automatic interconnection of electronic modules, including integrated pneumatic valves. This streamlines maintenance, simplifies control systems, enhances flexibility, etc., in industrial automation. Furthermore, the rising integration of smart and IoT technologies for real-time monitoring represents one of the control valves market recent opportunities. For example, in April 2024, Emerson launched the Micro Motion G-Series line of Coriolis mass flow and density meters. In addition, they provide the same level of quality and reliability as standard designs, but in a much lighter and smaller form factor. Moreover, compared to traditional volumetric flow meters, they offer direct mass flow measurement.

Rising Customization Options

The specific and diverse requirements of several applications are bolstering the market across the globe. Additionally, several industries, including pharmaceuticals, water treatment, oil and gas, power generation, etc., each have unique performance standards and operational challenges. Consequently, customization allows manufacturers to tailor control valves to precise specifications, including temperature ranges, material compatibilities, unique pressure ratings, and flow characteristics. For instance, in June 2023, Aquana, LLC., a subsidiary of Geospace Technologies, launched a remote shutoff valve known as the actuator valve serial (AVS) that offers employee safety while minimizing operating expenses for water utilities by allowing remote stop, start, or reduced water delivery to specific locations without sending service personnel to the field. Besides this, customization options enhance system reliability, efficiency, safety, etc., thereby ensuring optimal performance under specific conditions. For example, in November 2023, Tecnik Fluid Controls Pvt. Ltd. (TFCPL), which is into manufacturing of custom-designed industrial fluid control valves, set up a joint venture with U.S.-based diversified industrial manufacturer ITT Industries Inc. to produce industrial valves for the pharmaceuticals industry in India. Moreover, the inflating use of optimal valves for managing the pressure, flow, and temperature of oil, gas, and other intermediates is elevating the control valves market’s recent price. In March 2024, IMI Critical Engineering launched an integrated anti-surge and compressor recycle valve to avoid disruptive and costly unplanned compressor damage across the oil and gas industry.

Strict Regulations

Control valves find wide-ranging applications throughout the commercial, industrial, and residential industries. As a result, several major regulatory organizations implement standards to ensure proper compatibility, functionality, and safety for users. The American Petroleum Institute (API) is one of the regulatory bodies operating in the oil and gas industry produced more than 900 standards that serve as the basis for quality programs to maintain regulations for production material and certification programs for pressure vessels, storage tanks, piping inspectors, etc. Moreover, API publishes reports that include research reports, recommended practices, and specifications on valves, pipelines, environmental procedures, etc. Besides this, ASTM International, originally known as the American Society for Testing Materials (ASTM), launches standards for valves made of a particular material and for a specific application. Additionally, the Fluid Control Institute (FCI) assists users and purchasers in understanding and using fluid control and conditioning equipment, such as solenoid valves, control valves, regulators, etc. Apart from this, the increasing number of certifications to mitigate industrial operations and ensure safe operations will continue to fuel the market in the coming years. For instance, in May 2024, Pres-Vac Engineering obtained certification for its high-velocity methanol valves under the IMO 1621 standard. Furthermore, this launch offers shipbuilders and owners unique options for creating more compliant and efficient dual-fuel systems.

Control Valves Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the control valves market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the type, size, technology, component, material, and end-use industry.

Breakup by Type:

• Rotary Valves
  • Ball Valve
  • Butterfly Valves
  • Plug Valves
• Linear Valves
  • Gate Valves
  • Diaphragm Valves
  • Other Valves
     

Linear valves accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes rotary valves (ball valve, butterfly valves, and plug valves) and linear valves (gate valves, diaphragm valves, and other valves). According to the report, linear valves represented the largest segment.

Linear valves have a stem that slides up and down or back and forth to control the flow. These valves are widely used in various industries, including water and wastewater treatment, pharmaceutical, and HVSC systems, where precise flow control is required. They exhibit numerous benefits, such as excellent throttling characteristics, accurate flow modulation, optimal reliability and durability, etc. As a result, the linear valve segment is expected to continue to dominate the control valves market share in the coming years. For example, in July 2023, SMAC Moving Coil Actuators developed its LPL30 low-profile electric linear moving coil actuators that can be used by manufacturers of dosing and filling machines in Europe and Asia. Also, in January 2024, Infineon Technologies AG introduced a wafer-level packaged sensor designed for linear valves.

Breakup by Size:

• Up to 1"
• >1" to 7"
• >7" to 25"
• >25" to 50"
• >50" and Above
   

>1" to 7" holds the largest market share

The report has provided a detailed breakup and analysis of the market based on the size. This includes up to 1", >1" to 7", >7" to 25", >25" to 50", and >50" and above. According to the report, >1" to 7" represented the largest segment.

>1" to 7" size valves find extensive applications across numerous sectors, such as chemical processing, water treatment, oil and gas, HVAC systems, etc. Additionally, valves in this size range are versatile and can be adopted for controlling flow pressures, rates, and temperatures in medium to large-scale processes. They are also essential components in manufacturing plants, refineries, pipelines, and power generation facilities, as they offer precise control and reliability over fluid processes. Consequently, >1" to 7" size is propelling the control valves market revenue.

Breakup by Technology:

• Electric
• Hydraulic
• Manual
• Pneumatic
   

Pneumatic represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the technology. This includes electric, hydraulic, manual, and pneumatic. According to the report, pneumatic represented the largest segment.

Pneumatic technology plays a crucial role in the operation of control valves, providing reliable and efficient means of regulating flow, pressure, and temperature in various industrial processes. In November 2023, Festo developed MS-Basic, cost-effective pneumatic service units in polymer housings that cover most application needs. The line-up consists of electric on-off and soft-start valves and manual on-off valves with filter-regulator combinations. Pneumatically actuated control valves use compressed air to drive the valve's movement, offering advantages such as quick response times, precise control, and inherent safety in hazardous environments due to the non-electrical nature of the actuation. For example, in March 2024, Automation24 added Norgren air preparation products, including filters, combination units (filter/regulator/lubricator), regulators, valves, and accessories that are produced with pneumatic motion and fluid control technologies. Furthermore, in the oil and gas industry, pneumatic control valves are used to manage the flow of hydrocarbons through pipelines, ensuring smooth and safe operations even in remote locations where electricity is not readily available. Similarly, in the water treatment sector, pneumatic diaphragm valves are employed for their durability and ability to handle abrasive or corrosive fluids. The use of pneumatic technology in control valves extends to applications in chemical processing, food and beverage manufacturing, and power generation, where their robust performance and adaptability make them a preferred choice for critical control tasks. This, in turn, is escalating the control valves market demand.

Breakup by Component:

• Actuators
• Valve Body
• Others
   

Actuators represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the component. This includes actuators, valve body, and others. According to the report, actuators represented the largest market segmentation.

Actuators are vital components in control systems, responsible for converting control signals into mechanical motion to manipulate devices such as valves, dampers, or other equipment. They play a crucial role in automating and optimizing industrial processes, ensuring precise and reliable operation. Actuators can be powered by various energy sources, including electric, hydraulic, and pneumatic power, each offering unique advantages. In August 2023, Automation Technology, Inc. (ATI), one of the providers of customized and comprehensive valve automation solutions, introduced its zero-emission electro-hydraulic actuator solution to eliminate the carbon footprint of pipeline operations. Moreover, in December 2023, Flowserve Corporation released the Limitorque QX Series B (QXb) quarter-turn smart electric actuator that streamlines the user experience. The choice of the actuator depends on factors such as the required speed, force, control accuracy, and environmental conditions, underscoring their critical role in achieving efficient and effective automation in various industrial settings. This, in turn, is bolstering the control valves market outlook across the segmentation.

Breakup by Material:

• Stainless Steel
• Cast Iron
• Alloy Based
• Others
   

Alloy based represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the material. This includes stainless steel, cast iron, alloy based and others. According to the report, alloy represented the largest market segmentation.

Alloy-based materials have strength, versatility, and corrosion resistance. These alloys exhibit superior mechanical properties and chemical stability, making them ideal for handling corrosive fluids, high-pressure applications, and extreme temperature conditions. As a result, they are widely used in industries such as petrochemicals, power generation, pulp and paper, etc., to ensure the reliable and efficient operation of critical processes.

Breakup by End-Use Industry:

• Oil & Gas
• Water & Wastewater Treatment
• Energy & Power
• Pharmaceutical & Healthcare
• Chemicals
• Building & Construction
• Others
   

Oil & gas industry holds the largest market share

The report has provided a detailed breakup and analysis of the market based on the end-use industry. This includes oil & gas, water & wastewater treatment, energy & power, pharmaceutical & healthcare, chemicals, building & construction, and others. According to the report, oil & gas represented the largest market segmentation.

Control valves are critical for maintaining the precise control of pressure, temperature, and flow rates, ensuring safe and efficient operation across a wide range of applications, from upstream exploration and production to downstream refining and distribution. In December 2023, Emerson launched its Fisher FIELDVUE L2t liquid level controller, designed primarily for use in the separators found at most oil and gas well sites. Additionally, the harsh and demanding environments encountered in the industry, such as extreme temperatures, high pressures, and corrosive fluids, require robust and reliable valve solutions. As per the control valves market statistics, the increasing focus on automation, process optimization, and adherence to stringent safety and environmental regulations further drives the demand for advanced control valves, solidifying their position as the largest segment in the oil and gas sector.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

According to the control valves market overview, North America currently dominates the global market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The wide presence of regulatory bodies across countries, including the U.S., is primarily propelling the regional market. Some of the major standard organizations include the American Society of Mechanical Engineers (ASME), the American National Standards Institute (ANSI), the ASTM International (FKA American Society for Testing Materials), the American Petroleum Institute (API), the Manufacturers Standardization Society (MSS), etc. Moreover, continuous product developments are also acting as significant growth-inducing factors. For example, in June 2023, Aquana introduced the Actuator Valve Serial (AVS), which is specifically manufactured and designed in the U.S. Apart from this, the inflating emphasis on energy efficiency is escalating the demand for eco-friendly valve technologies. For instance, the U.S. Environmental Protection Agency (EPA) mandated the use of traditional spring diaphragm actuators to minimize greenhouse gas emissions levels.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major control valves market companies have also been provided. Some of the key players in the market include:

• Christian Bürkert GmbH & Co. KG
• Curtiss-Wright Corporation
• Emerson Electric Co.
• Flowserve Corporation
• Honeywell International Inc.
• IMI plc
• KITZ Corporation
• SAMSON AG
• Spirax-Sarco Engineering plc
• Valvitalia SpA
• Velan Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Control Valves Market Recent Developments:

• May 2024: Emerson introduced the new AVENTICSTM Series 625 sentronic proportional pressure control valves that offer the flexibility needed to support pneumatic control engineering applications.
• May 2024: Pres-Vac Engineering obtained certification for its high-velocity methanol valves under the IMO 1621 standard.
• April 2024: Festo, one of the providers of automation technologies based in Germany, launched its latest innovation in the form of the Valve Terminal VTUX, which can be easily incorporated into the smallest of spaces.

Control Valves Market Report Scope:

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the control valves market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global control valves market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the control valves industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.