Control Valves

The global control valve market experienced less than expected growth during 2019, in line with overall weakening of global GDP growth.  This worldwide adjustment was the result of a series of negative economic factors coming together in the pre-COVID year 2019 – trade wars between the US and China, Canada, and the European Union clouded the business climate and dampened growth as punitive and retaliatory tariffs were often threatened and sometimes applied.  According to the World Bank, worldwide growth in 2019 was the weakest since the global financial crisis a decade ago.

Much of the growth the global control valve market did enjoy during 2019 can be attributed to regulatory initiatives in the refining industry including investments in optimization projects, debottlenecking, and other capital projects designed to improve margins, reduce environmental footprint, or produce new fuels mandated by environmental regulations.  A growing base of end users in Asia’s refining industry helped drive sales for control valves in the region during 2019.  

On the other hand, overcapacity led to a decline of new capacity projects in the fossil fuels electric power generation industry during 2019.  The electric power industry faced many challenges during 2019 as the industry began its transition from a highly centralized electric system to one in which many more entities own and operate energy resources.  Making this transition in a highly regulated and critical industry is a major challenge for all parties.  

Continued trade conflicts and slow growth also resulted in a year-over-year (YoY) decline for control valve investments from chemical manufacturers.  Demand for chemicals from Europe weakened during 2019 while chemicals production in Japan declined.  ARC also witnessed a slowdown in chemical demand from China.  

Expect the Effects of the COVID-19 Pandemic to Linger on the Control Valves Market Through Much of 2021

ARC anticipates control valve suppliers will continue to feel the negative effects of the COVID-19 pandemic through the rest of the year and into the beginning of 2021, with most global economies falling into recession.  ARC expects a gradual market recovery in 2021 with a return to stable growth rates unlikely before 2022 or 2023. Market performance will depend heavily on how quickly capital investment, government spending, and consumer spending return to normal rates.  This will likely happen in different phases, so the five-year forecast is likely to show spikes until things begin to even out.  All industries will be affected differently by the COVID-19 crisis, and their respective recovery curves will take on various shapes. Geographically, regional growth will see ups and downs over the forecast period.   

Control Valves Market Strategic Issues

Control Valves Market Data Workbook

In addition to providing a five-year market forecast, the Control Valves Market Research provides detailed quantitative current market data and addresses key strategic issues as follows.

Strategic Issue for Users: Collaborating with Your Main Valve Contractor

Early involvement of the main valve contractor (MVC) can have a big impact on project success.  MVCs provide an economic advantage to owner-operators in three key areas: reduced coordination effort, reduced commissioning time, and reduced customization costs, all of which help reduce risk.  Cumulatively, these can help reduce both installed cost and overall cost of ownership.  As a single-source supplier, the MVC removes the effort and cost of juggling several suppliers, freeing the owner-operator to focus on core competencies.  A single point of accountability also minimizes or eliminates the need for custom integration, which often adds high cost and risk to a project.

Strategic Issue for Suppliers: Leveraging Industrial IoT Technologies to Reduce Valve-related Unplanned Downtime

Recent advances in data science, artificial intelligence, and computing power have converged in a “perfect storm” to enable commercialization of algorithms to provide human-like analysis of large data sets at machine speeds.  These advances are allowing control valve suppliers to apply artificial intelligence to valve health monitoring solutions to provide more advanced warning and richer analysis of impending valve failures.  

New data visualization tools allow supplier experts to view valve health data in time series and study valve health trends over several years to determine trends over time.  Traditional valve health monitoring services relied heavily on manual data analysis by experts.  New technologies help suppliers recognize patterns that could lead to failure well in advance.  The long-term goal should be to automate valve health data analysis.  

The true benefit of leveraging these new technologies is the ability to help end users avoid unplanned downtime through early fault detection.  If a problem is identified early, suppliers can give end users ample time to address problems at the most opportune time.  This service also helps end users prioritize which valves need maintenance and which do not.

Strategic Issue for All Market Participants: Economic Decline Due to COVID-19  

The COVID-19 outbreak has caused disruptions to global supply chains and business operations.  While the pandemic did not impact the 2019 demand for control valves, the market projections do take into account industry trends with ARC’s best estimates for how the COVID-19 pandemic will impact the control valves market in different vertical industries.  
 

 

Control Valves Study Formats and Editions Available

This market study may be purchased as an Excel Workbook and/or as a PDF File.  The Workbook has some unique features such as the ability to view data in local currency.  Regional studies include country and industry market data.  Country studies include market trends and industry data.  Studies and formats available are listed below:  

MIRA Workbook PDF File
Worldwide (includes regional data) Yes Yes
North America (includes country data) Yes No
Latin America (includes country data) Yes No
Europe, Middle East, Africa (includes country data) Yes No
Asia (includes country data) Yes No
Country Profiles (includes Country Data) No Yes

Countries included in each region.

Table of contents for these studies is shown in the following paragraphs.

Worldwide Market Research Focus Areas

Strategic Analysis

  • Major Trends
  • Industry Trends
  • Regional Trends
  • Strategies for Success

Competitive Analysis

  • Market Shares of the Leading Suppliers
  • Market Shares by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Market Shares  by Component
    • Valves
    • Actuators
    • Positioners
    • Accessories
  • Market Shares by Valve Body Type
  • Market Shares of Actuators by Type
    • Pneumatic
    • Electric
    • Other
  • Market Shares of Positioners by Type
    • Pneumatic
    • Electropneumatic
    • Digital
  • Market Shares of Positioners by Communication Protocol
    • HART
    • Fieldbuses
    • Other
  • Market Shares by Revenue Category
    • Hardware
    • Software
    • Services
  • Market Shares by Industry
    • Cement & Glass
    • Chemical
    • Electric Power Generation
    • Food & Beverage
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Water & Wastewater
  • Market Shares by Application
  • Market Shares by Project Type
    • New Construction
    • Upgrade/Expansion
    • Replacement
  • Market Shares by Customer Type
  • Market Shares by Sales Channel

Market Forecasts and Histories

  • Total Shipments of Control Valves
  • Shipments by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Shipments by Component
    • Valves
    • Actuators
    • Positioners
    • Accessories
  • Shipments by Valve Body Type
  • Shipments of Actuators by Type
    • Pneumatic
    • Electric
    • Other
  • Shipments of Positioners by Type
    • Pneumatic
    • Electropneumatic
    • Digital
  • Shipments of Positioners by Communication Protocol
    • HART
    • Fieldbuses
    • Other
  • Shipments by Revenue Category
    • Hardware
    • Software
    • Services
  • Shipments by Industry
    • Cement & Glass
    • Chemical
    • Electric Power Generation
    • Food & Beverage
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Water & Wastewater
  • Shipments by Application
  • Shipments by Project Type
    • New Construction
    • Upgrade/Expansion
    • Replacement
  • Shipments by Customer Type
  • Shipments by Sales Channel

Industry Participants

The research identifies all relevant suppliers serving this market including key regional players. 

Regional Market Research Focus Areas

Strategic Analysis

Competitive Analysis

  • Leading Suppliers in Region
  • Industry Shares in Region
  • Country Shares in Region
  • Leading Suppliers by Industry

Market History & Forecast Analysis 

  • Market History & Forecast by Country
  • Market History & Forecast by Industry

Industry Participants

List of countries & currencies included in each region: MIRA-Country

Country Research Focus Areas

Contact us for the countries available for this study.

For More Information

For more information or to purchase the Control Valves market study, please contact us.

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