The Asia Pacific Control Valve Market would witness market growth of 8.2% CAGR during the forecast period (2020-2026). A control valve is considered as a valve utilized to control pressure, temperature, fluid flow by changing the size of the flow passage in process industries like power generation, water management, oil & gas, food & beverage, and automotive. In various industries, typically two kinds of control valves are utilized which are linear and rotary that offer superior safety and efficiency. The focus of several industries is on automation in process industries that will offer a profitable opportunity for the growth of the market.
Growing automation in the several process industries combined with the rising investment in the oil & gas industry will propel the growth of market demand. The increasing industrialization in emerging economies and the rising R&D activities are anticipated to fuel the market during the forecast years. In addition to this, the massive power requirement due to the rising population is estimated to boost the market over the forthcoming years. The absence of supportive government policies and standardized certifications will act as market restraints.
The finding of new fossil fuel reserves in the APAC region is anticipated to create massive growth possibilities for the players operating in the control valves market. With constant enhancements in the exploration technology, new reserves of oil and gas have been discovered in various countries in the APAC region, like China and Thailand. These discoveries will result in increased manufacturing activities and exploration, which, as a result, encourage the massive utilization of control valves.
Based on Type, the market is segmented into Linear and Rotary. Based on Operation, the market is segmented into Pneumatic Control Valve, Hydraulic Control Valve and Electrical Control Valve. Based on Industry Vertical, the market is segmented into Water & Wastewater, Mining, Pharmaceuticals, Food & Beverages, Government & Defense, Oil & Gas, Chemicals and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Control Valve Market in Asia Pacific is expected to register a CAGR of 8.2% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., Schlumberger N.V. (Cameron International Corporation), Flowserve Corporation, Alfa Laval AB, Crane Co., Kitz Corporation, Neway Valve Co., Ltd., Velan, Inc., Avcon Controls Pvt. Ltd. and Dwyer Instruments, Inc.
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