Global Control Valve Market Analysis by Knowledge Sourcing Intelligence

The world population is growing at an alarming rate and so is the energy consumption. Urbanization and higher disposable income are creating immense demand for energy and safe drinking water. Additionally, burgeoning demand for food and beverage, better healthcare services among others, has led to the growth of enterprises across different industry sectors and are investing in better technologies and upgrading existing ones to remain competitive and reduce their operating costs, while catering to varying and rising demand from customers. Investing in automation solutions has become imperative while keeping the costs low. The control valve is one such solution, for which the demand has been growing consistently. Control valves control the flow of fluid, such as gas, water, steam or chemical compounds. 

Increasing investment in the oil and gas industry is the key driver of the global control valve market. Growing energy consumption coupled with stringent regulations regarding workers’ safety is compelling manufacturers to adopt automation solutions, thereby spurring the demand for control valves over the forecast period. The emergent processed food industry in both developed and developing economies is further augmenting the demand for control valves over the forecast period. The rising aging population and an increasing number of chronic disease patients are propelling the growth of global pharmaceuticals and healthcare industry.