Global increase in investment and automation across all process industries such as oil & gas coupled growing energy demand is expected to remain a key driving factor for control valves market over the next seven years. Automation drivers include energy saving demand, higher productivity, better process control and conditional marketing. Control valves market is also expected to benefit from growing industrial infrastructure along with high energy demand over the forecast period. Growing energy demand is expected to create need for focusing on operational efficiency across process industry. Investment inflow owing to government regulations and awareness among producers to avoid wastage is anticipated to fuel control valves market over the forecast period. Servicing requirements is also expected to augment control valve market demand. Global valve market demand is slated to grow owing to U.S. becoming energy independent and replacement of older valves with the upgraded ones as a result of technological upgradation. Control valves market can be segmented based on motion, component, application and geography.Use of control valves ranges from controlling process in industries to controlling water for irrigation and pressure control in residential use.
control valve market serves to end-use industries such as oil & gas, chemicals, energy & power, water management, pulp and paper, mining and food & beverages. Oil and gas industry is anticipated to be the biggest influencer of valve market owing to growing shale gas production and exploration activities. food and beverages coupled with pharmaceuticals being the fastest growing in valve market. Increased number of pipeline installations and booster stations are slated to have significant investments fuelling control valve market growth. Urbanization in developing countries like India and China coupled with producer awareness for industrial waste control is expected to be the key driving factor to fuel market growth. Power generation, oil & gas and water industries are expected to be the key end user segments in emerging economies. Niche application of valves is expected in these segments compared to traditional techniques. Resource requirement across the globe is also expected to be the key driver of control valve market growth. Competition among manufacturers coupled with complex process design is slated to pose challenges to control valve market. Inefficient logistics and supply system across the globe is expected to be the biggest challenge for control valve market over the forecast period. Adapting to changing needs and requirements of consumers coupled with innovation might also pose challenges to control valve market. Worsening situation of price, availability and demand in key end-user segments such as oil & gas is also expected to affect control valve market growth and pose challenges to industry players. Long time span of new projects and time lags in delivery might also pose challenges to control valve market over the forecast period. Better and effective process control coupled with strategic business intelligence is expected to create lucrative opportunities for control valve industry operators over the forecast period. Integration of value chain of entire process industry is anticipated to create opportunities for industry players.