The control valve controls the flow of a fluid, such as gas, steam, water or compound, so that the variable produced by the regulation process is as close as possible to the desired set value. Control valve is the most important part of any process control loop, because they are very important to the overall performance of the process.
According to the design type, the control valve can be divided into globe valve, ball valve, butterfly valve, angle valve, diaphragm valve and others.
According to end user industry , the control valve can be divided into oil and gas, chemical, energy and power, pharmaceutical, food and beverage, other end user industry
According to region, the control valve can be divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
In 2020, the market size of control valve will reach US $10.12 billion, and it is expected to reach US $12.19 billion by 2026, with a compound annual growth rate of 3.67% during the reporting period from 2021 to 2026. During this period, investment in pipeline and infrastructure development is expected to stimulate market demand for control valves.
Major industries, such as oil and gas and pharmaceuticals are moving toward valve technology with embedded processors and network capabilities to coordinate complex monitoring technologies through central control stations.
In addition, due to the rapid growth of the number of solar power plants, the promotion of renewable energy projects has expanded the application field of control valves.
The Asia Pacific market grew significantly. The growing middle class population in the Asia Pacific region is driving demand in the oil and gas, power and chemical industries. In addition, the rapid industrialization of these countries and regions and the continuous development of transportation are expected to increase the demand for oil and gas. The demand for drinking water for growing population has also driven the construction of desalination plants, further stimulating the demand for control valves. Waste and wastewater management is also a huge market driving demand for control valves.
Post time: Apr-10-2021