According to Stratistics MRC, the “Global Control Valves market” is expected to grow from $7.19 billion in 2016 to reach $11.24 billion by 2023 with a CAGR of 6.5%. The growth of the market is propelled by increasing interest on plant automation, growing number of industrial infrastructure projects in developing countries and rising investments across various industrial verticals. On the contrary, huge capital investments among valves projects and lack of familiar platforms for profibus, zigbee and ethernet are some restraints hampering the market.
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Control valves are used in a variety of end-user industries to control various process variables which include temperature, flow, pressure, and fluid level. They play a significant role in safety, efficiency and profitability across several industries.
Opportunity: The use of 3D printing in manufacturing valves would provide ample opportunities for the market growth.
The 3D printing technology has the potential to revolutionalize the valve manufacturing process. Actual working models of complex products can be created in one process, even incorporating gaskets and seals, and using various material components, so that 3D printed models can be used to check flow through the valve, which can also be actuated with a 3D printed actuator.
Driver: Increasing interest on establishing new nuclear power plants and up scaling of existing ones.
In order to cope up with the ever-increasing energy demand, various governments across the world are focusing on the establishment of new nuclear power plants. Along with that, the up-gradation and maintenance of the older ones are also being considered. As control valves find extensive applications in such power plants, these policies will have a direct positive impact on the market.
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By actuation technology, the pneumatic control valves segment is expected to grow at a significant market share during the forecast period due to the effectiveness of this technology in controlling system pressure and directing the pressure-flow systematically.
By geography, the North America region is anticipated to hold considerable market share during the forecast period. The U.S. has high demand for valve replacement from a large number of active projects in the region. Besides U.S., Canada also has numerous projects requiring valve replacement as well as simultaneous up gradation in existing facilities.
The Global Control Valves Market Leaders are General Electric Co., Samson AG, The Electric Co., Metso Corporation, Armstrong International, Inc., Cameron International Corporation, SVF Flow Controls Inc., Swagelok Co., CIRCOR International, Inc., Pentair Plc, Crane Co., Burkert Fluid Control System, Flowserve Corporation, Velan Inc. and Christian Burkert GmbH & Co. KG.
General Electric Co: In June 2017, GE Energy Connections has partnered with Solairedirect, to equip its plants with 140 megawatts (MW) of LV5 1-MW solar inverters as well as a 25-year, long-term service agreement. The service agreement includes the provision of parts when needed and the required man-hours for repairs and maintenance for the plants.
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Samson AG: In March 2017, Samson AG partnered with the Israeli start-up company 3DSignals Ltd. Samson will use the technology developed by 3DSignals in its control valves and systems engineering solutions to create new opportunities for the monitoring of industrial plants as well as their preventive and predictive maintenance.
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