Control Valve Global Market Report 2024

The control valve market size has grown rapidly in recent years. It will grow from $6.75 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The expansion observed during the historic period can be attributed to several factors, including industrial expansion, adherence to regulatory compliance, dynamics within the energy sector, infrastructure development initiatives, heightened concerns for safety and the environment, the influence of globalization, and the upgrading of aging infrastructure. These elements collectively contributed to the growth and development observed in the relevant industries during that timeframe.

The control valve market size is expected to see rapid growth in the next few years. It will grow to $12.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated growth in the forecast period can be attributed to a heightened focus on energy efficiency, increasing emphasis on environmental sustainability, a rising demand for high-performance valves, a focus on preventive maintenance strategies, expansion into emerging markets, and trends towards market consolidation. Major trends expected during this period encompass the integration of smart valve technology, the adoption of Industry 4.0 and IIoT (Industrial Internet of Things), digitalization and remote monitoring practices, the development of modular valve designs, and the utilization of advanced materials and coatings. These factors are poised to shape and influence the trajectory of the industry in the upcoming forecast period.

The burgeoning oil & gas and power industries are poised to act as catalysts propelling the growth of the control valve market in the foreseeable future. The oil & gas sector encompasses companies engaged in discovering resources, transporting them to refineries, and refining them into finished products. On the other hand, the power industry involves entities providing gas and electricity for domestic and commercial usage. The surge in activities within the oil & gas and power sectors necessitates the installation of control valves for processing and distribution purposes. For instance, as per the Energy Information Administration - EIA, a provider of energy information based in the US, crude oil production in the US surged by 14.05% in 2022 to 11,316 barrels per day, compared to 9,925 barrels per day in 2021. Additionally, electricity net generation in the US witnessed a 0.9% increase in September 2022, reaching 350,920 thousand MWh from 2021. Hence, the escalating growth of the oil & gas and power industries is a driving force behind the burgeoning control valves market.

The escalating investment in infrastructure is projected to be a driving force in the expansion of the control valve market in the upcoming years. Infrastructure encompasses the fundamental physical and organizational structures, systems, and services vital for societal, communal, or business operation. Control valves constitute crucial components within infrastructure systems, regulating the flow of liquids or gases to ensure optimal functionality and efficiency in applications such as water supply, wastewater treatment, energy distribution, and various industrial processes. For instance, according to Statistics Canada, a government agency based in Canada, capital expenditures on Canadian infrastructure in 2021, covering diverse assets such as social and affordable housing, surged by $5.7 billion, marking a 5.6% rise to reach a total of $108.1 billion. Growth was observed across 13 out of 16 infrastructure functions. Hence, the upsurge in infrastructure investments serves as a pivotal factor propelling the growth of the control valve market.

Key companies operating within the control valve market are innovating featured valves such as butterfly valve ranges to optimize flow balancing in control valve applications. A butterfly valve is a type of quarter-turn valve employing a rotating disk to regulate fluid flow within pipes or tubes. For example, in July 2022, Valmet, a Finland-based developer and supplier of process technologies, introduced the Neles Q-Disc, a high-performance feature aimed at enhancing flow balancing in control valve applications. The Q-Disc, tailored for control applications, constitutes a vital part of Valmet's diverse butterfly valve product range, addressing complexities in various process conditions. Its advantages include averting the need for oversized actuators and offering an energy-efficient solution with reduced costs. Moreover, the Q-Disc effectively addresses issues such as cavitation and significantly reduces noise, up to 12 dB in specific flow conditions. The modular option caters to a range of butterfly valves, fostering improved reliability and operational efficiency across various process operations.

Prominent companies within the control valve market are actively engaged in developing intelligent devices, such as smart valve positioners, aimed at elevating valve control and monitoring functionalities. A Smart Valve Positioner represents an intelligent apparatus meticulously crafted to accurately detect and manage the positioning of a valve across diverse industrial processes. For instance, in April 2022, Emerson, a US-based provider specializing in fluid control and pneumatics technology, introduced the TopWorx PD Series Smart Valve Positioner, a substantial addition to its suite of valve control solutions. Leveraging Hall effect technology, the PD Series ensures dependable valve positioning while integrating communication via a 4-20 mA loop signal and HART protocols. Its contactless position detection, coupled with two PNP alarms and robust environmental resilience, renders it suitable for a wide array of applications. The PD Series offers predictive maintenance insights, enhancing both plant productivity and safety standards. Its compact design facilitates swift installation on both rotary and linear actuators, showcasing its versatility across multiple industries.

In February 2023, Motion & Control Enterprises completed the acquisition of Precision Pump & Valve (PPV) for an undisclosed sum. This strategic acquisition marks an expansion of Motion & Control Enterprises' service portfolio and geographical footprint, harnessing the technical prowess and valve repair capabilities of PPV. Precision Pump & Valve (PPV) operates as a US-based entity specializing in safety relief and control valves, pumps, and associated process equipment, primarily catering to the oil and gas, petrochemical, and chemical processing sectors. This acquisition strategically bolsters Motion & Control Enterprises' operational capacities while leveraging PPV's specialized expertise and market presence within crucial industrial segments.

Major companies operating in the control valve market report are Schlumberger Limited, Alfa Laval AB, Conbraco Industries Inc., Arca Regler GmbH, Burkert Fluid Control Systems, Cla-Val Co., Crane Holdings Co., Curtiss-Wright Corporation, Emerson Electric Co., Flowserve Corp., General Electric Company, IMI plc, Kitz Corporation, Lapar Control Valve Co. Ltd., Neway Flow Control Co.Ltd., Taylor Valve Technology Inc., Velan Inc., Baker Hughes Company, Metso Corporation, CIRCOR International Inc., AVK Holding A/S, Eaton Corp. plc, Festo AG & Co., Georg Fischer Ltd., Hitachi Ltd., ITT Inc., KSB SE & Co. KGaA, Leser GmbH & Co., Parker Hannifin Corporation, Pentair plc, Rotork plc, Smiths Group plc, The Weir Group plc, Xylem Inc..

North America was the largest region in the control valve market in 2023. The regions covered in the control valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the control valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of control valves are linear and rotary. Linear valves function as pressure relief valves, specifically designed to prevent vacuum formation in process systems. These valves consist of components such as the valve body, actuator, and others, constructed from a variety of materials including stainless steel, alloy-based materials, cast iron, cryogenic materials, and others. They find applications across diverse industries, including oil and gas, water and wastewater treatment, energy and power, pharmaceuticals, food and beverage, chemicals, building and construction, paper and pulp, metals and mining, and others.

The control valves market research report is one of a series of new reports that provides control valves market statistics, including control valves industry global market size, regional shares, competitors with control valves market share, detailed control valves market segments, market trends, and opportunities, and any further data you may need to thrive in the control valves industry. This control valve market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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