Almost every factory has an extensive network of pipes, hoses, vats, silos, storage tanks, liquid inlets and outlets, pumps, and nozzles for some or the other purpose. From food and beverage and chemical, which would seem two of the obvious sectors when thinking of such infrastructure, to automotive and power generation, every industry needs these components and systems. As a result, the demand for control valves, to regulate the amount of liquid flowing through a system or subsystem, has always been high. Control valves are also widely, and, perhaps, more familiarly, found in non-industrial settings; the water tap seen in houses and gardens being the simplest example.
Thus, considering the burgeoning population and industrial output, P&S Intelligence expects the control valves market revenue to increase from $11,137.0 million in 2017 to $16,057.5 million by 2023, at a 6.3% CAGR during the forecast period. What most people don’t know is the technicalities of such seemingly simple devices, such as their various types, which include ball, cryogenic, butterfly, globe, plug, diaphragm, and gate. These terms denote the actual technology, or the actual component, that the valves use to control the flow.
During the historical period (2013–2017), the control valves market was dominated by Asia-Pacific (APAC) owing to the region’s high manufacturing output. The region accounts for the highest automotive, consumer electronics, chemicals, and food and beverage production in the world, which leads to a high integration rate of various types of control valves. For instance, in the automotive sector, they are used for painting, tire inflation, high-pressure water jet cutting, and oxy–acetylene welding and even in the vehicles themselves, such as in fuel, engine oil, and coolant pumps and supply lines.
Similarly, APAC also requires a lot of electricity, which is why it is home to a huge number of power plants, which are another important application area of control valves. For instance, such components are absolutely vital at hydroelectricity plants, as the pressure of the water needs to be substantially high to be able to turn the turbine. Similarly, even in thermal power plants, valves are used to let water in and out; here, the turbines are spun by high-pressure steam.
Hence, with the growing population and industrial production, the demand for control valves will keep booming.
Source: https://www.psmarketresearch.com/market-analysis/control-valves-market
