Control Valve Market Size - By Component (Actuator, Valve Body, Positioners), By Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), By Technology, By Size, By Type (Linear, Rotary) By End-use Industry & Forecast, 2024 – 2032

Control Valve Market Size

Control Valve Market was valued at USD 7.8 billion in 2023 and is estimated to register a CAGR of over 8% between 2024 and 2032. Advancements in control valve technology and materials are driving the business growth by enhancing efficiency, reliability, and performance. Innovative technologies, such as predictive maintenance capabilities and digital control systems, improve operational efficiency, reducing downtime and maintenance costs for end users. Additionally, the development of advanced materials with superior durability and corrosion resistance extends the lifespan of control valves, increasing their appeal to industries seeking long-term, cost-effective solutions, thereby driving market growth.
 

The rising emphasis on energy efficiency and conservation acts as a significant growth driver for the control valve market due to several factors. Firstly, control valves enable precise regulation of fluid flow, thereby optimizing energy usage in industrial processes. Secondly, control valves contribute to cost savings for end users by enhancing system efficiency and reducing energy wastage. Additionally, tightening environmental regulations and sustainability goals further incentivize industries to invest in energy-efficient solutions, thereby driving the demand for control valves.
 

Economic downturns and market fluctuations are the major challenges in the control valve market due to its reliance on industries such as oil & gas, manufacturing, and construction. These industries typically reduce capital spending during downturns, thereby decreasing the demand for control valves. Market fluctuations can also disrupt supply chains, affecting production and delivery schedules for control valve manufacturers. This unpredictability makes it difficult for companies to effectively forecast sales and plan long-term investments.
 

Control Valve Market Trends

The control valve industry is witnessing a trend toward integrating sensors, actuators, and connectivity features, enabling remote monitoring and control. This integration enhances operational efficiency by providing real-time data insights and facilitating predictive maintenance strategies. Organizations can detect issues early, optimize processes, and minimize downtime with the ability to monitor valve performance remotely, resulting in improved reliability and cost savings.
 

Industries are compelled to minimize emissions due to stringent environmental regulations. Control valves with enhanced leakage prevention and emission control features help ensure compliance with regulations. These valves ensure precise flow control, reducing the risks of leaks and emissions. Companies avoid penalties and maintain reputational integrity by mitigating environmental impacts with the use of these control valves, increasing their demand.
 

Control Valve Market Analysis

Based on technology, the market is segmented into electric, pneumatic, hydraulic, and manual. The pneumatic segment is expected to register a CAGR of over 9% through 2032.
 

• Pneumatic control systems are typically simpler to install and maintain compared to electric or hydraulic systems. They require less complex infrastructure, fewer components, and are easier to troubleshoot, reducing downtime and overall operational costs.
   
• Pneumatic control valves are often more affordable compared to their electric or hydraulic counterparts, making them attractive options for many industries, especially in applications where cost is a significant consideration.

Based on component, the market is segmented into actuator, valve body, positioners, and others. The actuator segment is expected to reach over USD 6.5 billion by 2032.
 

• Electric actuators are preferred for control valves due to lower operating costs, reduced maintenance needs, and environmental friendliness. Unlike pneumatic and hydraulic actuators, they eliminate the need for compressed air or hydraulic fluid, resulting in lower energy consumption, fewer leakages, and minimal environmental impacts, driving their growth.
   
• Actuators facilitate remote and automated valve operation as industries embrace automation, thereby streamlining processes and improving efficiency. Actuators convert control signals into mechanical movement, enabling precise valve positioning without human intervention. This automation reduces labor costs, enhances safety by minimizing manual handling, and allows for real-time adjustments to optimize production processes, thereby meeting the evolving demands of modern industries.

North America region dominated over 35% share of the control valve market in 2023. The region has a robust industrial sector, including oil & gas, chemicals, and manufacturing, which are major consumers of control valves. Additionally, stringent regulatory standards regarding environmental protection and safety are driving the demand for advanced control valve technologies. Moreover, ongoing investments in infrastructure projects, particularly in sectors such as water treatment and power generation, are fueling the demand for control valves. These factors collectively contribute to North America's dominance in the global control valves market.
 

Control Valve Market Share

Curtiss-Wright Corporation and Emerson Electric Co. held a significant share of over 10% in the control valves market in 2023. Curtiss-Wright Corporation, founded in 1929, is a diversified industrial company specializing in highly engineered products & services. Curtiss-Wright offers a range of solutions including control valves, actuators, and related technologies. The company serves various industries, including oil & gas, power generation, and chemical processing, with a focus on innovations and customer satisfaction. Curtiss-Wright's expertise in advanced valve technologies positions it as a key player in the global control valves market.
 

Emerson Electric Co. is a global technology and engineering company headquartered in the U.S. It is a leading provider of control valve solutions for various industries including oil & gas, chemical, and power generation. Emerson offers innovative technologies for precise flow control, reliability, and efficiency optimization with a diverse portfolio of control valves. Its extensive market presence coupled with a strong focus on R&D solidifies Emerson's position as a key player in the control valves market.
 

Control Valve Market Companies

Major key players operating in the control valves industry are:

• Curtiss-Wright Corporation
• Emerson Electric Co.
• Flowserve Corporation
• Honeywell International Inc.
• IMI plc
• Metso Corporation
• Parker Hannifin Corporation
   

Control Valve Industry News

• In February 2024, Emerson released innovative solutions that transform valves installed in industrial applications and interact with end users globally. End users need to know how their control valves are performing, address any issues, and improve valve performance in general; for instance, by reducing maintenance. The Fisher FIELDVUE DVC7K digital valve controller addresses these issues by creating an optimized path to action.
   
• In October 2023, Andritz signed an agreement with Flowserve Corporation to acquire its NAF AB valve business. The production plant and equipment deliveries were equipped with NAF control valves for many years. This acquisition further extended and strengthened Andritz's product & service portfolio in process control.
   

This control valve market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Component

• Actuator
• Valve body
• Positioners
• Others

Market, By Material

• Stainless steel
• Cast iron
• Cryogenic
• Alloy based
• Others

Market, By Technology

• Electric
• Pneumatic
• Hydraulic
• Manual

Market, By Size

• Actuator
• Valve body
• Positioners
• Others

Market, By Type

• Linear
• Rotary

Market, By End-use Industry

• Oil & gas
• Water & wastewater
• Energy & power
• Chemicals
• Food & beverages
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA