Demand for Control Valves in Power Generation to Rise as with Ambitious Transmission Infrastructure Investments in Emerging Countries

Where precisely regulating the flow of liquids or semi-solids is needed, control valves are used. Control valves can be operated using pneumatic, hydraulic, or electric energy. Manual control valves, however, are witnessing dwindling usage. Control valves have been a ubiquitous component in a myriad of industrial and commercial applications. From regulating the flow of heated liquids to chemical compounds to steam and gas, the scope of applications of control valves remains vast. 

The latest market trends show that a demand for increasingly sophisticated fluid handling systems will boost the demand for high-precision, long lasting control valves. According to business intelligence firm Transparency Market Research, the global control valves market is poised to exhibit a 7.0% CAGR between 2015 and 2021. The market’s valuation in 2014 was US$7.74 bn and at the projected CAGR, it will rise to US$12.14 bn by 2021. 

Pneumatic Control Valves Account for Highest Revenue in Global Control Valves Market

Process control industries use either pneumatic, electric, or hydraulic control valves as an important component of the control loop. This helps keep load distribution from fluctuating in the process loop. The disk within a control valve helps control the volume or quantity of material that passes through, and the disk itself is typically controlled using pneumatic, hydraulic, or electric actuation. Pneumatic control valves are extensively used in the oil and gas industry, which is witnessing hectic activity not just in its traditional markets but also in the U.S. and Canada. This has caused a spurt in the demand for pneumatic control valves essentially because they are less complex on the design front and offer greater value for money.

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Pneumatic control valves are also suited to a variety of rugged applications and this makes them the preferred choice in the oil and gas industry where exploration and drilling operations are typically located offshore or in harsh landscapes. Thus, the demand for pneumatic control valves will continue to remain high as more oil and gas exploration activities are undertaken.

Use of Control Valves Highest in Power Generation Industry

In 2014, the highest demand for control valves came from the power generation industry. With emerging countries such as Brazil, India, and China investing heavily in improving their power infrastructure to ensure energy self-reliance, market players will find no dearth of opportunities here. Besides making fresh investments in expanding the reach of the grid, India and China have also invested in programs to restructure and improve their existing distribution and transmission infrastructure. This aspect will prove to be crucial in stimulating the demand for control valves through the current decade.

However, it was North America that led in 2014, accounting for 37% of the global control valves market. The shale gas boom that has reshaped the very dynamics of the oil and gas industry in North America can be credited for a spurt in the demand for control valves in the region. At second position in the global control valves market was Asia Pacific, with over 23% as of 2014. 

Despite the positive outlook of the global control valves market, there are still a few factors that could potentially impede growth. As demand for unconventional sources of energy (such as solar, tidal, or wind) sees an increase, the use of control valves might suffer. At the same time, the number of local companies that compete for a share of the control valves market could potentially erode the revenue of larger companies.

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