Global Control Valves Market: Overview
Control valves is a type of mechanism that responds to the signals which are directed by the controllers in the type of partial or full opening or closure for controlling pressure, flow, liquid level, temperature, and other conditions. There is a huge demand for the control valves in the process sectors and high energy consumption sectors. There are various types of control valves such as electric, pneumatic, hydraulic, and manual.
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Global Control Valves Market: Segmentation
The control valves market is segmented into its motion type, components, applications, and regions. On the basis of motion type, the market is segregated into linear and rotary. Based on the components, the market is categorized into actuators, I/P convertors, valve body, and positioners. Depending on the applications, the market is divided into oil & gas, energy & power, food & beverages, pulp & paper, chemicals, water management, mining & metals, pharmaceuticals, and others. Diversification of the global market includes North America, Asia Pacific, Europe, and Rest of the World.
Global Control Valves Market: Growth Factors
There was a drastic demand in the electric control valves owing to the technological advancements that were made, thus the manufacturers worldwide are progressing. The manufacturers are more interested in the products that do not require regular maintenance for proper functioning. Thus the manufacturers are focusing more on the manufacturing and designing of the control valves. Control valves that have the low environmental impact will anticipate improving the strong revenue growth as the government has imposed strict regulations regarding environmental pollution. The oil and gas sector has a strong demand for the control valves thus contributing to the market growth. But the reduction in the oil and gas supply owing to the reducing reserves hamper the growth of the market. In the oils and fats, animal feed, and dairy industries in the food and beverage and pharmaceutical sectors the control valves can be used in the power generation.
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Global Control Valves Market: Regional Analysis
North America has a dominant place in the global control valves market. The factor that contributes to this growth is the development in the various industrial verticals in the region. On the other hand, the prominent market players in the power generation, wastewater management, and oil and gas industry have made impressive investments and technological advancements in the North America control valves market. Asia Pacific region is forecasted to have a significant growth in the global control valves market owing to the growing demand in the industries such as processed food, semiconductor, and electronic manufacturing. The industrial infrastructure development and growing investments made by different verticals contribute to the market growth in the Asia-Pacific region.
Global Control Valves Market: Competitive Players
Some of the key market players that are involved in the control valves market include Velan, Inc., Metso, Flowserve Corporation, IMI Plc., Samson AG, Emerson Electric Co., Crane & Co., General Electric, and Pentair Plc.
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