Global Control Valve Market to Hit Sales Valuation of $19.3 Billion by 2028 | Oil and Gas Industry to Contribute Over 30% Revenue | SkyQuest Technology

Advertisement

Global control valve market was valued at USD 6.3 Billion in 2021, and it is expected to reach a value of USD 19.3 Billion by 2028, at a CAGR of 15% over the forecast period (2022–2028).

Westford, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) — The growing demand for control valve market stems from issues faced by a variety of industries. One such industry is the oil and gas industry, which has been struggling to keep up with the ever-growing production levels. In order to increase production, these companies need to be able to adjust their operations quickly and efficiently. This can be difficult if they are using traditional methods.

Another industry that is facing pressure to find new ways to improve production is the textile industry. Textile mills have been fighting against pollution for years now, but they have found it increasingly difficult to stay ahead of the fumes and chemicals released by factories across China and other parts of Asia. This has led manufacturers in this field to search for more efficient ways of controlling output. It should come as no surprise then that the growing demand for control valves is being felt across a wide range of industries. By developing more efficient methods of controlling outputs, businesses are able to save money while still meeting customer demands.

Get sample copy of this report:

https://skyquestt.com/sample-request/control-valve-market

Key Dynamics of Control Valve Market

  • They allow for controllable flows of fluid without causing accidents: This is especially important in industries that use hazardous or toxic substances. Additionally, control valves can be used to optimize production by controlling flow rates at different points in a process. This allows plants to produce more product with less energy expenditure.
  • Control valves are versatile devices: They can be fitted into a wide range of applications – making them ideal for multiple uses within an industry. Additionally, they don’t require extensive installation time; as long as they fit correctly and have the correct connectors, they can be installed quickly and easily.
  • Increased demand for environmentally friendly products: Control valves are often installed in water-intensive sectors, such as power plants and paper mills in the global control valve market, which require little or no water for cooling during peak periods. These industries are looking for ways to save on expenditures while still meeting the needs of their customers.
  • There are a number of factors that contribute to the increasing demand for control valves. For example, improved manufacturing processes and materials have resulted in tighter tolerances and higher precision. Additionally, advanced manufacturing techniques have allowed valve manufacturers to create more compact, lightweight valves that require less space and are therefore more suitable for applications where space is limited.

Over 30% of Demand for Control Valve Comes from Oil and Gas Industry

According to a study of the global control valve market by SkyQuest, over 30% of demand for control valve comes from the oil and gas industry. This means that companies involved in this sector are highly motivated to find ways to maximize the effectiveness of their controls. Moreover, the demand for the control valve is further motivated by frequent change of the product in a year. For instance, our study suggests around 10% of the control valve in the oil and gas industry is replaced every year.

Moreover, the global control valve market analysis has identified a number of key reasons for high demand such as increasing importance of tighter production controls, the requirement for reliable performance under high pressure and temperature conditions, and the need to minimize downtime due to system disruptions. One of the main benefits of employing a control valve in an oil or gas production facility is that it can help to achieve tighter production controls. This is because a control valve can be used to restrict flow through a pipeline or processing plant, which can then be manipulated in order to maintain specific output levels.

Browse summary of the report and Complete Table of Contents (ToC):

https://skyquestt.com/report/control-valve-market

In addition, control valves are often used in conjunction with other types of devices, such as monitoring systems, sensors and controllers in the global control valve market. This allows producers to pinpoint any potential problems early on, before they become more difficult to fix. Furthermore, 2021 saw an increase in the demand for control valves due to the increased pressure and temperature conditions that are commonly encountered during oil production. For example, several refineries have started using steam reformers – which generate heat by breaking down heavy hydrocarbons into lighter traditional petroleum products – at higher temperatures in order to increase refining margins.

As a result, there has been an increased demand for valves in the global control valve market that can withstand extreme operating environments such as those experienced at these refineries1.In addition to this, control valves are also required for various types of systems that are used in oil and gas production facilities. Although other industries account for a greater proportion of demand for control valve, the oil and gas industry still represent an important market for manufacturers. This is likely due to the increasing use of automation in this sector, which requires more reliable controls to keep production running smoothly. In addition, tighter regulation makes it crucial for manufacturers to have access to quality control equipment and services.

Increasing Adoption of Smart Control Valve Market

Demand for smart control valves is on the rise as businesses seek to automate their processes and improve efficiency. These valves can be used to regulate fluid flow, temperature, and pressure in a variety of settings, making them ideal for a variety of applications. Some of the most popular uses for smart control valves include irrigation systems, oil and gas production, food manufacturing plants, water treatment facilities, and more. By automating these processes and reducing the need for human input, businesses can save time and money.

Smart control valves come in many different forms and can be customized to meet specific needs. Some features that are often included are electronic controls, communication capabilities, programmable logic controllers (PLCs), and sensors. Due to their versatility and various applications, there is no limit to the ways in which smart control valves can be used. If you are looking to increase your efficiency or upgrade your current valve system, look into smart control valves as an option.

Some of the recent developments in the global smart control valve market

  • In November 2022, KIMM Developed a Smart Valve that Automatically Detects and Isolates Ruptures in a Pipeline System
  • In November 2022, Spirax Sarco introducd SP7 and SP8 Smart Positioners
  • In November 2022, Resideo launched Braukmann L5 WiFi Water Leak Shutoff Valve

Speak to Analyst for your custom requirements:

https://skyquestt.com/speak-with-analyst/control-valve-market

Major Players in Global Control Valve Market

  • Christian Burkert (Germany)
  • Emerson (US)
  • Flowserve Corporation (US)
  • Cameron (Schlumberger Company) (US)
  • IMI PLC (UK)
  • Neles Corporation (Finland)
  • Crane Co. (US)
  • Samson Controls (US)
  • Kitz Corporation (Japan)
  • Neway Valve (China)
  • Ham-Let (Israel)
  • Trillium Flow Technologies (UK)
  • Alfa Laval (Sweden)
  • Apollo Valves (US)
  • Spirax Sarco (UK)
  • Curtiss-Wright Corporation (US)
  • Dwyer Instruments (US)
  • AVK Holdings A/S (Denmark)
  • Velan, Inc. (Canada)
  • Swagelok (US)
  • Avcon Control (India).

Related Reports in SkyQuest’s Library:

Global Unsaturated Polyester Resins Market

Global Hydraulic Dosing Pump Market

Global Vacuum Coating Equipment Market

Global Industrial Filtration Market

Global Industrial Seals Market

About Us:

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

Address:

1 Apache Way, Westford, Massachusetts 01886

Phone:

USA (+1) 617-230-0741

Email: sales@skyquestt.com

LinkedIn Facebook Twitter

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More