Control valves plays significant role for increasing profitability, efficiency and safety of process industries. The providers of control valves are persistently upgrading and evolving their technology and research and development events in order to meet the ever-changing demands of the manufacturers of several different industries. Moreover, increasing demand for automation and increasing investment avenues among the process industries such as oil & gas industry along with huge number of projects for industrial development in several developing economies are the major factors driving the growth of global control valves market.
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Introduction of several stringent regulations regarding environmental pollution are being executed in the development of control valves. Due to introduction of several stringent environment laws the global control valves market is expected to be impacted in a negative manner at a significant pace in the near future such as the sales and design of control valves. Moreover, these factors are expected to further hamper the growth of global control valves market.
Globally industry players of global control valves market are leveraging market growth through development of several innovative control valves and its components that includes smart actuators and control valve positioners. The development of innovative components along with research and development activities will enable the key players of the industry to design exclusive expansion strategies and new opportunities for growth.
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Geographically, Asia Pacific has been generating largest revenue in 2017 and is further projected to generate largest revenue by 2024 in the global control valves market.
Some of the key players in the global control valves market include Burkert Fluid Control System, Curtiss-Wright Corporation, Emerson, Flowserve Corporation, Crane Co., Alfa Laval, Velan Inc., Samson AG, Pentair PLC., and Kitz Corporation.