At 5+% CAGR, Control Valves Market Potentially Worth $9.88 Billion by 2023 Led by Oil & Gas Industry
PUNE, India, June 18, 2017 /PRNewswire-iReach/ -- The oil & gas industry is expected to hold the largest share of the control valves market by 2023. The oil & gas industry is likely to account for the largest share of the of the control valves market by 2023. This market growth can be attributed to the increasing number of oil and gas projects, replacement of old valves, and rising demand for oil & gas in emerging economies such as India, China, and Russia. Complete report on "Control Valves Market" spread across 163 pages, profiling 15 companies and supported with 63 tables and 59 figures is now available at http://www.rnrmarketresearch.com/control-valve-market-by-motion-rotary-linear-by-component-valve-body-actuator-and-others-by-application-oil-gas-chemicals-energy-power-water-management-pharmaceuticals-food-bevera-market-report.html .
The control valves market for the energy & power industry is expected to grow at a high rate between 2017 and 2023. This industry is expected to hold a significant share of the control valves market by 2023, owing to the increased power consumption in APAC and wide applications of valves in hydro & thermal power generation plants. Control valves are also used in nuclear power plants especially in processes such as feed water, cooling water, chemical treatment, and steam turbine control systems.
The overall control valves market is expected to grow at a CAGR of 5.33% between 2017 and 2023. The growth of this market is driven by the rising demand for wireless infrastructure for maintaining and monitoring equipment in plants, revenue shift in industries, increasing demand for control valves for oil & gas and subsea applications, increased focus on proactive mechanism, rising number of nuclear plants, and enhancement of existing plants. However, lack of common platform such as Zigbee, Profibud, and Ethernet is one of the major factors restricting the growth of this market.
The APAC is likely to dominate the control valves market by 2023. APAC is expected to hold the largest share of the control valves market between 2017 and 2023. This region is home to several control valves manufacturing companies. The control valves market in APAC is expected to grow at a high rate during the above-mentioned period. The high growth of this market can be attributed to the increasing demand for pipelines for oil & gas and water & waste water applications and ongoing power generation activities.
This research study is obliging for following audience:
1. Raw material and manufacturing equipment suppliers
2. Integrated device manufacturers (IDMs)
3. Control valves component manufacturers
4. Control valves product manufacturers (ODMs)
5. Control valves original equipment manufacturers (OEMs)
6. ODM and OEM technology solution providers
7. Assembly, testing, and packaging vendors
8. Distributors and traders
9. Research organizations
10. Organizations, forums, alliances, and associations
The report profiles the key players in the control valves market. The prominent players profiled in this report include Burkert Fluid Control System (Germany), Curtiss-Wright (North Carolina), Crane Co (US), Emerson (US), Flowserve Corporation (US), Alfa Laval (US), IMI Plc. (UK), Kitz Corporation (Japan), Met so (Finland), Neway Valves (China), Velan Inc. (Canada), Samson AG (Germany), Spirax Sarco (UK), The Weir Group PLC (UK), and Pentair Plc. (UK). Download PDF Brochure "Control Valves Market by Size, Product (Linear, and Rotary Valves), Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemical, Food & Beverage, Pharmaceutical), Component (Actuators, Valve Body), and Geography - Global Forecast to 2023" research report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=277784 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (37%), Tier 2 (47%) and Tier 3 (16%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (46%), Director Level (36%) and Managers (18%) from various key organizations operating in the control valves market. The primary interviews were conducted worldwide covering regions such as Americas (26%), Europe (30%), APAC (22%), and South America (13%), Middle East & Africa (9%).
Research Coverage: This research report categorizes the overall control valves market on the basis of component, product, size, industry, and region. The report discusses the major drivers, restraints, challenges, and opportunities, as well as the value chain analysis, pertaining to the market.
On a related note, another research titled Industrial Valves Market Global Forecast to 2023 says, the industrial valves market is expected to be valued at $84.30 billion by 2023, growing at a CAGR of 3.60% between 2017 and 2023. The industrial valves market for the oil & gas industry to hold the largest share during the forecast period. Energy & power is expected to grow at the highest rate during the forecast period. Asia Pacific to hold the largest share and is expected to witness the highest growth in the industrial valves market. Companies such as AVK Holding (Denmark), Avcon Controls Private Limited (India), Cameron - Schlumberger (US), Crane Co. (US), Emerson (US), Flowserve (US), Forbes Marshall (India), IMI Plc. (UK), Metso (Europe), Neway Valves (China), Velan Inc. (Canada), Samson AG (Germany), Spirax Sarco (UK), Weir (UK) have been profiled in this 233 pages research report available at http://www.rnrmarketresearch.com/industrial-valves-market-by-type-ball-globe-gate-butterfly-and-others-by-application-oil-gas-chemical-municipal-power-and-others-and-by-region-north-america-latin-america-middle-east-market-report.html .
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