The global stainless steel control valve market size is projected to witness remarkable growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is anticipated to surpass a valuation of USD 599.0 million in 2023. It is predicted to attain a valuation of USD 1,066.0 million by 2033. The market is expected to thrive at a CAGR of 5.9% from 2023 to 2033.
Corrosion resistance, sturdiness, compatibility for sanitary applications, regulatory compliance, the boom in industrial sectors, and technical improvements in the industry are the key factors bolstering the stainless steel control valve market's expansion.
Key Factors Boosting the Demand for Stainless Steel Control Valves:
Challenges in the Stainless Steel Control Valve Industry:
Opportunities in the Future Run:
| Attributes | Details |
|---|---|
| Stainless Steel Control Valve Market Share (2022) | USD 579.0 million |
| Stainless Steel Control Valve Market Share (2023) | USD 599.0 million |
| Stainless Steel Control Valve Market Share (2033) | USD 1,066.0 million |
| Stainless Steel Control Valve Market Share (2023 to 2033) | 5.9% |
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The global stainless steel control valve industry size developed at a CAGR of 3.1% from 2018 to 2022. In 2018, the global market size stood at USD 512.0 million. In the following years, the market observed considerable growth, accounting for USD 579.0 million in 2022.
In recent years, the stainless steel control valve sector has experienced an increasing emphasis on sustainable production techniques. Manufacturers are employing recyclable materials, putting eco-friendly methods into effect, and producing less waste. Furthermore, sustainable production aligns with consumer expectations for ecologically friendly products, helps brands build their reputation, and complies with environmental legislation.
The importance of safety is rising across nearly every sector, and the development of stainless steel control valves is being driven by safety standards and regulations. To guarantee safe operation in critical applications, manufacturers are integrating safety features like emergency shutdown (ESD) capabilities, fail-safe modes, and SIL-rated designs.
| Historical CAGR (2018 to 2022) | 3.1% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.9% |
Manufacturers also place high importance on adhering to industry standards like ISO 9001 and ISO 45001. In essence, the growing emphasis on safety is likely to bolster market growth during the forecast period.
According to the segmentation based on type, the ball control valves segment is anticipated to dominate during the forecast period. As per Future Market Insights, the ball control valves segment is projected to thrive at a CAGR of 5.7% from 2023 to 2033.
The flow control capabilities of ball valves are outstanding. They feature a full-bore design, which minimizes flow constraints by creating a straight-through flow route when the valve is completely opened. Ball control valves are ideal for applications that require precise control over flow rates due to their design's capacity for efficient fluid flow regulation.
Ball control valves are useful in a wide range of industries and applications. They are potentially employed in sectors including oil and gas, chemical processing, water treatment, power generation, and pharmaceuticals since they are suitable for both on/off and throttling control. Their acceptance and widespread across several industries use is a result of their adaptability and capacity to manage various flow materials.
According to the segmentation based on application, the oil and gas segment is expected to hold the lion’s share during the forecast period. As per FMI, the oil and gas segment is anticipated to exhibit a CAGR of 5.5% from 2023 to 2033.
Fluid management is crucial in the oil and gas industry. To control the flow, pressure, and temperature of a variety of fluids, including crude oil, natural gas, refined goods, and process chemicals, control valves are essential. Stainless steel control valves offer fine control and are capable of managing the flow of these fluids.
Oil and gas continue to be important sources of energy around the world. Despite initiatives to switch to renewable energy, the oil and gas industry continues to be essential for supplying the world's energy needs. This industry continues to have an immense demand for stainless steel control valves, promoting the market’s expansion.
Principal Consultant
The market in China for stainless steel control valves is anticipated to witness unparalleled growth during the forecast period. China’s market is predicted to thrive at a 7.4% CAGR from 2023 to 2033. Due to its expanding infrastructure and thriving industrial sector, China is seeing substantial expansion in the stainless steel control valve market.
Market-specific novel products are being introduced by domestic and foreign manufacturers in China. For instance, Emerson Electric released the FisherTM GX Control Valve series in China in 2021. This series offers enhanced performance and control for a variety of sectors.
The market in Japan is anticipated to expand at a 6.1% CAGR from 2023 to 2033. Japan has a mature industrial sector that needs cutting-edge control systems. Businesses in Japan place great emphasis on technology developments including the integration of digital control and automation. For instance, Yokogawa Electric Corporation has unveiled cutting-edge control valve systems with built-in smart valve positioners and digital communication capabilities.
Stainless steel control valves have been developed for particular applications by businesses like KITZ Corporation, a significant valve producer in Japan. For instance, they introduced a high-performance control valve with improved sealing and longevity for the oil and gas sector.
The market in South Korea is projected to exhibit a CAGR of 6.4% from 2023 to 2033. Petrochemical, oil and gas, and electronics manufacturing are a few of the areas where South Korea is well-known for having a significant presence. Companies in South Korea are investing in research and development to introduce innovative control valve solutions. For instance,
The government of South Korea has put measures in place to encourage the growth of sophisticated manufacturing sectors. The usage of stainless steel control valves is one of the technical innovations and automation that initiatives like 'Manufacturing 4.0' are aiming to encourage in production processes.
The United States market for stainless steel control valves is projected to expand at a CAGR of 4.8% from 2023 to 2033. The industrial sector in the United States is developed, and stainless steel control valve consumption is large.
The oil and gas sector has expanded as a result of the shale gas revolution in the United States, which has raised the demand for stainless steel control valves in exploration, production, and refining operations.
The recent technological developments in control valve systems are led by American businesses. For instance, new digital control valve systems with integrated diagnostics and analytics capabilities have been developed by companies like Emerson Electric and Flowserve Corporation.
| Country | Forecasted CAGR (2023 to 2033) |
|---|---|
| The United States | 4.8% |
| The United Kingdom | 3.4% |
| China | 7.4% |
| Japan | 6.1% |
| South Korea | 6.4% |
Companies constantly modify their strategy in response to shifting client wants, technology developments, and market trends. Players in the stainless steel control valve market are adopting sustainable production techniques, investing in energy-efficient products, and decreasing their environmental effects. Furthermore, they also engage in partnerships, mergers, acquisitions, and other strategies to maximize their growth potential and revenues.
Recent Developments Observed by FMI
Key Players Operating in the Global Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Actuation Technology, Type, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is valued at USD 599 million in 2023.
Armstrong International Inc., Cameron International Corporation, and Christian Burkert GmbH & Co. KG are key players in the stainless steel control valve market.
Ball valves are likely to remain preferred through 2033.
Players opt for mergers and acquisitions.
India, China, and Japan dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Actuation Technology 5.1. Manual Control Valves 5.2. Pneumatic Control Valves 5.3. Hydraulic Control Valves 5.4. Electric Control Valves 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Ball Control Valves 6.2. Butterfly Control Valves 6.3. Cryogenic Control Valves 6.4. Globe Control Valves 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Power Generation 7.2. Oil and Gas 7.3. Chemical Industry 7.4. Semiconductor and Electronics Manufacturing 7.5. Wastewater Management 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Emerson Electric, Co. 16.2. Armstrong International Inc. 16.3. Christian Burkert GmbH & Co. KG. 16.4. Pentair Plc. 16.5. General Electric Co. 16.6. Samson AG 16.7. Richard Industries, Inc. 16.8. Schlumberger 16.9. CIRCOR International Inc. 16.10. Flowserve Corporation 16.11. Kimray, Inc. 16.12. Metso Corporation 16.13. Crane 16.14. Velan Inc. 16.15. IMI Plc. 16.16. Swagelok Co. 16.17. SVF Flow Controls Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Stainless Steel Control Valve Market
