ARC Advisory Group’s recent research on the control valves market highlights how growing stability among the global supply chains and vendors’ ability to convert their backlog of outstanding orders to tangible revenues helped fuel growth throughout 2023. High utilization rates resulted in healthy MRO activity, further contributing to robust growth. However, several vendors have reported slowing growth in 2024 as mounting economic and political uncertainty began to curb consumer spending, causing many manufacturers to delay planned capacity expansion projects. Delays were particularly prevalent among large-scale projects.
"Increasing emphasis on decarbonization and digital transformation initiatives are driving growth in upgrade projects as more end users invest in improving their operational resilience and efficiency. Additionally, there is a growing demand for digital positioners that provide end users with real-time updates on control valve performance and health, which is leading to increased investments in these technologies. Oil & gas capacity expansion projects also provide control valve vendors significant opportunities going forward, particularly in the Middle East,” according to David Clayton, Research Director and key author of ARC's Control Valves Market Research.
Control Valves Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Integrated Connected Valves
- Increasing Acceptance of Outsourcing Maintenance
- Increasing Electrification of Control Valves
- Increasing Competition from Low-cost Competitors
Leading Suppliers to the Control Valves Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Baker Hughes, Emerson Automation Solutions, Nihon KOSO, SAMSON, Third Party Control Valve Suppliers.
About the Control Valves Research
The Control Valves research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and five years of historical analysis. The report segmentation includes Industry, Customer Type, World Region, Sales Channel, Project Type, Revenue Category, Component, Application, Actuators by Type, Positioners by Type, Positioners by Communication Protocol, Overall Scope.
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