The Europe Control Valve Market would witness market growth of 7.6% CAGR during the forecast period (2020-2026). Sensor and valve technology has seen rapid advancement, which has enabled manufacturers in the pharmaceutical industry to develop their manufacturing abilities by decreasing the overall expense of equipment ownership, optimizing uptime, and reducing maintenance costs. In control valves, the actuator is able to completely revolve the actuator head by 360 degrees, enables flexible deployment, and maximizes air-port alignment. This, as a result, decreases overall installation expense for both new and existing projects and maximizes the integration of actuators in compact valve arrays in production processes. The incorporation of advanced technologies by pharmaceutical manufacturers has helped the control valve industry to develop new accessories.
Conventionally, the control valves were mechanically utilized, without any processor or chip being implanted in them. On the other hand, the augmenting demand for energy has forced the power industry to enhance their operations, which is why organizations are not accepting processor-implanted valves. This new innovation permits the valves to offer real-time data on flow rates and operating conditions and assists in predictive maintenance and alleviating unexpected shutdowns, which is why it is popular in the control valve market.
The growing energy demand, due to the rapid population growth, results in the development of the energy sector to fulfil the supply for the raised energy demand. As the demand rises, consistent performance is getting even more essential, as are the developments in the equipment needed for the manufacturing, transportation, and processing of energy. To fulfill this demand, valves are needed in a power plant, which is anticipated to boost the growth of the control valves market over the forthcoming years.
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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Control Valve Market in Europe is expected to register a CAGR of 7.6% 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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