2014-02-18 19:59:03 - Global Control Valve Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Control Valve market is to grow at a CAGR of 5.86 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growing demand for control valves from developing countries. The Global Control Valve Market has also been witnessing an increase in the development and adoption of smart control valves. However, the rise in the cost of raw materials could pose a challenge to the growth of this market.
The Global Control Valve market is witnessing a transition from the use of conventional valve types to automatic control valves. The demand for automatic valves is expected to grow due to its increasing need in the process industries. Many process industries have begun to
adopt automated control valves to improve the operational efficiencies in their industrial production processes. Since automated control valves provide more operational efficiency compared to traditional control valves, the market is experiencing an increasing demand for them.
The increasing demand from developing countries is one of the major drivers in the market. Many developing countries such as India, China, Brazil, and countries from the Middle East have been increasingly creating demands for control valves, primarily because of the growing presence of Process industries in these countries.
The high cost of raw materials is one of the major challenges faced by the Global Control Valve market. As a result of the increasing price of raw materials such as steel, cast iron, and alloys, the cost of control valves becomes very high. This high cost leads to a low adoption of control valves, which in turn decreases the revenue of control valve manufacturers.
The key vendors dominating this space include Emerson Electric Co., Flowserve Corp., MIL Controls Ltd., and Pentair Ltd. The other vendors mentioned in the report are AUMA Riester GmbH and Co. KG, CIRCOR International Inc., Dorot Control Valves Inc., Instrumentation Ltd., Metso Corp., Nihon KOSO Co. Ltd., Ross Valve Manufacturing Co., Rotork plc, and Suzhou Delan Energy Science and Technology Co. Ltd.
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