Demand for Stainless Steel Control Valves Directly Controlled by Power and Oil and Gas Sectors

A control valve is able to modify the flow of fluids through a pipeline in terms of amount as well as direction. They are also used for the same purpose in the case of chemicals and gases as well. A control valve is also known as a final control element. It also presents the valuable option of using sensors used to monitor and effectively alter this state of the control valve. A control valve can be controlled by pneumatic, hydraulic, or electrical means.

The global market for stainless steel control valves smaller than 2 inches is exhibiting a steady positive growth rate of 5.0% between 2015 and 2023. The market was recorded at US$240.0 mn in 2014. Owing to all the factors that are responsible for maintaining this growth rate, the market could reach US$371.6 mn by the end of 2023. This is a fruitful market to be involved in for the top contributors to the global stainless steel control valves market, including Richards Industries, Inc., CIRCOR International, Inc., Cameron International Corporation, Swagelok Co., Christian Burkert GmbH & Co. KG, Kimray Inc., Armstrong International, Inc., Crane & Co., and Emerson Electric, Co.

Booming Oil and Gas and Power Industries are Key Consumers of Stainless Steel Control Valves
The two greatest industries that are currently creating the highest demand for stainless steel control valves are power generation and oil and gas. There are other consumers of stainless steel control valves, but not to the same degree as these two. Advancements in technology have allowed for a greater scope for the use of control valves in small-scale fluid handling. Another area for development in the global stainless steel control valves market is its scope in industrial process control, a concept used in multiple industry verticals. At the same time, there is a definite upswing in demand for stainless steel control valves of less than 2 inches in the Asia Pacific chemicals industry as well as the global market for wastewater management.

The industry of electronics and semiconductor manufacturers is also showing a scaled-up demand for stainless steel control valves that are smaller than 2 inches. Similar to the pharmaceutical industry, the electronics industry requires these valves for a large number of applications in high purity standards management. The pulp and paper industry has also increased its consumption of stainless steel control valves smaller than 2 inches, along with other verticals such as food and beverages and automotive.

Asia Pacific Shows Heavy Preference for Small Stainless Steel Control Valves
It is no real surprise that the rapid rate of industrialization in the Asia Pacific region is creating the highest demand for stainless steel control valves smaller than 2 inches, in terms of region. The regional market also held the largest share in the global stainless steel control valves market – over 40.0% – in 2014. North America held the second largest share of 23.0% in the same year.


We can therefore conclude that Asia Pacific will maintain its dominance over the global market for stainless steel control valves smaller than 2 inches. That said, the overall demand for these control valves is rising across the world, with the market’s overall growth remaining dependent on the industries that require it.

0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports