Control Valves Market Scope
A control valve is referred to as a valve which is used to control the flow of a fluid by varying the flow passage size as directed by a signal from the controller. This enables the direct flow rate control and the consequential process quantities control such as temperature, pressure, and liquid level. In the terminology of automatic control, a control valve is termed as "final control element". The global control valves market is expected to witness a high growth in the near future owing to growing industrialization across the globe and rising adoption of automation in various industries. While factors like high installation cost and fluctuations in the cost of raw materials can hamper the market. Recently there is an introduction of IIoT and industry 4.0 architecture which is equally creating an opportunity in the control valves market.
According to AMA, the Asia Pacific Control Valves market is expected to see growth rate of 6.6%Several control valve companies are investing in powerful, state-of-the-art control instrumentations as a result of spiraling demand for technologically advanced products from emerging end-use industries. This is poised to result in growing competitive, environmental, and economic pressures to offer high-rated products with a shorter return on investment.
MIL Controls (India), Fushiman (Japan), Nihon KOSO Co.,Ltd. (Japan), Keihin Co., Ltd. (Japan), TOKO VALEX CO.,LTD. (Japan), KVC CO.,LTD (Japan), KOSO INDIA PVT. LTD. (India), REGENT VALVES (India), Chemtrols Industries Pvt. Ltd. (India) and Shinjo Pump & Valve Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Xiamen Bofa Valve Co., Ltd. (China), Luofu Valve Group Co.,Ltd (China), Value Valves CO., LTD. (Taiwan) and Challenger Valves (Australia).
Segmentation Overview
The study have segmented the market of Asia Pacific Control Valves market by Type (Pneumatic Control Valve, Electric Control Valve and Hydraulic Control Valve), by Application (Mining Industry, Chemical Industry, Construction Industry and Others) and Region with country level break-up.
On the basis of geography, the market of Control Valves has been segmented into Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific).
Influencing Trend:
Rising Demand for Smart Industrial Thermostatic Control Valves and Rising Number of Oil & Gas Exploration Activities
Market Growth Drivers:
Rising Demand From End-Use Industries Such As Water & Wastewater Treatment, Oil & Gas, And Energy & Power Industry and New Nuclear Plants and Upscaling Of Existing Plants
Challenges:
Fluctuations in Raw Material Price
Restraints:
High Charges for Installation Process and Malfunctioning of Valves
Opportunities:
Introduction of IIoT and Industry 4.0 Architecture and Need for Valve Replacement
Key Target Audience
Manufacturers of Control Valves, Suppliers of Control Valves parts, Wholesalers, Distributors, and Retailers of Control Valves, Oil & Gas Industry, Power Industry, Governmental Bodies and Research Firms
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.