Industrial Thermostatic Control Valves Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, Japan, UK, France - Size and Forecast 2023-2027

Industrial Thermostatic Control Valves Market Forecast 2023-2027

The industrial thermostatic control valves market size is forecast to increase by USD 272.86 million at a CAGR of 4.38% between 2022 and 2027.

The market's upward trajectory hinges on key drivers including heightened automation in industrial setups, burgeoning power generation endeavors across the Asia-Pacific region, and a surge in supportive governmental policies. These factors collectively create a conducive environment for market expansion, fostering innovation and investment. With a focus on leveraging automation technologies and capitalizing on the region's burgeoning energy sector, businesses can navigate evolving landscapes and tap into emerging opportunities. This strategic approach not only facilitates market growth but also contributes to overall industrial and economic advancement. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the Size of the Industrial Thermostatic Control Valves Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by end-user (oil and gas industry, water and wastewater treatment industry, power industry, and others), type (pneumatic thermostatic control and electric thermostatic control ) , and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. The Valves market is a significant segment in the automation industry, with a growing demand for precise temperature control systems in various applications. These valves are essential components in power generation, oil and gas, chemical, and other process industries. They are designed to maintain consistent temperatures in industrial processes, ensuring optimal performance and energy efficiency. Control Valves come in various types, including bimetallic, thermocouple, and resistance temperature detectors. The choice of valve type depends on the specific application requirements, such as temperature range, process media, and pressure conditions. The market is driven by factors such as increasing industrialization, growing demand for energy efficiency, and stringent regulations for process safety. The market is also witnessing technological advancements, including the development of smart valves with digital communication capabilities and self-diagnostic functions. The market is highly competitive, with key players including Emerson Electric Co., Honeywell International Inc., Schneider Electric SE, and Siemens AG. In conclusion, the market is a critical segment in the automation industry, driven by the need for precise temperature control in various applications. The market is expected to grow significantly in the coming years, driven by factors such as increasing industrialization, growing demand for energy efficiency, and technological advancements.

End-user Segment Analysis

The market share growth by the oil and gas industry segment will be significant during the forecast period. The  market plays a crucial role in oil and gas production, managing complex operations such as drilling and mud pumps. However, the 50% drop in crude oil prices in 2020 led to significant industry downsizing and financial strain for producers. This context pertains to the density and concentration of thermostatic control valves in oil and gas plants, their role in maintaining liquid level and pressure differential, and the subsequent impact on operational efficiencies and losses.A large number are employed in oil and gas plants to accommodate complex operations, such as draw works, drilling, service rigs, mooring, and mud pumps for oil explorations.

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The oil and gas industry segment was valued at USD 428.03 million in 2017. Suppliers of valve bodies have faced challenges due to malfunctions and leaks, necessitating periodic overhauls. New technologies and automation have emerged as innovative approaches to implementation, offering economic benefits and future success. Unnecessary costs and inefficiencies have become a focus, with cross-industry initiatives and OPAF promoting decarbonization efforts and modular designs. Pressure differential and performance are key considerations, with leak detection and work processes essential for maintaining operational efficiencies. Economic benefits and future success hinge on addressing these challenges through modern technologies and cost-effective work processes.Leakage and spilling of harmful and toxic substances are being curbed to prevent detrimental effects on human life and the environment. These norms and directives are driving the demand during the forecast period.

Type Segment Analysis

The Control Valves market, specifically the segment for Pneumatic Thermostatic Control Valves, plays a significant role in Fluid Power Energy applications. Key players in this sector include Metrex Valve, AMOT, and Dwyer Instruments. Sales and production of these valves are driven by industries requiring precise temperature regulation, such as HVAC systems, industrial operations, and heating and cooling systems in the Chemicals industry and safety applications. Pneumatic Thermostatic Control Valves operate by utilizing compressed air to regulate liquid flow based on temperature sensed by the thermostat. They are widely used in Nuclear power plants, LNG processing, and fossil power plants for process automation and media flow control. Constraints in the market include inflation and demand for energy efficiency. The largest market share is held by rotary valves due to their ability to handle large flow rates and precise set point control. The Control Valves market is experiencing investment activity due to energy transition initiatives, focusing on energy security and R&D activities. Product parameters include flow rate, pressure, and temperature control, with Watts as a key energy consumption factor. Sales are influenced by system requirements, sanitation regulations, and industrial equipment outbreaks.

Market Dynamics and Customer Landscape

The market is experiencing significant growth due to the increasing demand for energy efficiency and process optimization in various industries. These valves play a crucial role in maintaining optimal temperature levels in industrial processes, ensuring efficient energy consumption and product quality. Industrial Thermostatic Control Valves are designed to automatically regulate temperature by responding to changes in temperature, making them an essential component in industries such as Chemical, Pharmaceutical, Food and Beverage, and Oil and Gas. The market is driven by factors such as rising energy costs, stringent regulations, and the need for improved process control. The market is expected to grow at a steady pace in the coming years, with key players focusing on innovation, product development, and expansion into emerging markets. The use of advanced materials and technologies in the production is also contributing to their growing popularity. Overall, the market is poised for continued growth, driven by the need for efficient and effective temperature control solutions in various industries. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

 Key Driver- Growing power generation activities in APAC

The power generation plants are substantially growing in APAC due to aggressive government investment and rising urbanization.The market in APAC is experiencing significant growth due to increasing investments in automation across the manufacturing sector. With a focus on operational efficiencies and reducing losses, suppliers are prioritizing the development and implementation of advanced control valve technologies. These modern valves ensure consistent liquid level maintenance and precise pressure differential control, minimizing malfunction ,periodic overhaul and leak detection. Manufacturers are investing in periodic overhauls to integrate new automation technologies, such as OPAF and decarbonization efforts, into their work processes. The economic benefits of these innovations include increased performance, cross-industry initiatives, and the reduction of unnecessary costs and inefficiencies. The density and concentration of industrial applications call for high-performing valve bodies that can withstand pressure differentials and maintain optimal temperature control. As the market evolves, suppliers are focusing on developing modules that cater to various industries and applications, ensuring cost-effective and complex automation solutions for future success..Consequently, the market for will be driven by the growth of the power industry through the increased deployment of smart grid technology in the region, propelling the growth of the market in focus during the forecast period.

Major Trends- Emerging demand for smart valves

Diagnostics and smart technology are the two emerging concepts that can significantly contribute to the growth of the industrial thermostatic market. The market is experiencing significant growth due to the integration of diagnostics and smart technology. These advanced valves monitor various process parameters, including liquid level, pressure differential, and temperature, enabling operational efficiencies and reducing losses. Suppliers of valve bodies leverage automation technologies to facilitate real-time data transfer for diagnostics, control instructions, and documentation. Smart valves play a crucial role in detecting malfunctions and leaks, minimizing the need for periodic overhauls and reducing manpower requirements. New technologies, such as OPAF (Online Process Analyzer and Filter), are being implemented to enhance performance and contribute to cross-industry initiatives, including decarbonization efforts. The economic benefits of smart valves include reducing unnecessary costs and inefficiencies through innovative approaches to work processes. Modern technologies, such as modules for pressure differential and concentration measurement, are essential for maintaining optimal performance and ensuring compliance with industry standards. Despite the advantages, the implementation of these advanced valves may come with a higher cost and complexity. However, the long-term economic benefits and future success of industrial processes justify the investment.

Furthermore, because sensors are directly employed on the valves, process systems with smart valves are less prone to leaking than the normal valves that contain separate valves and sensors. While controlling emissions has become a concern in recent times, these advanced valves are likely to see growth of the market in focus during the forecast period.

Significant Challenge- High market dependence on the oil and gas industry

The decline in global crude oil prices since 2020 has severely affected the market, primarily in the oil and gas industry. The US has witnessed overproduction of shale gas and crude oil to a record high, while the Middle East has not reduced its oil and gas output because of the fear of losing market share.  The use of dense and concentration-resistant materials, such as stainless steel, hardened steel, cast iron, brass, bronze, and aluminum, in their manufacture. These materials, with their high melting points and ruggedness, are essential for meeting the demanding environmental requirements of various end-user applications. However, the cost instability of these raw materials in the international market poses a significant challenge for small and medium-sized manufacturers. Suppliers play a crucial role in maintaining operational efficiencies by ensuring consistent valve body specifications and managing pressure differentials. Malfunctions and leaks can lead to losses and necessitate periodic overhauls, which can be costly and complex. New technologies and automation technologies offer economic benefits and future success by improving performance and reducing unnecessary costs and inefficiencies. Cross-industry initiatives, such as OPAF, and decarbonization efforts are driving the implementation of modern technologies and innovative approaches. Modules, such as leak detection and decarbonization, are essential components of these advanced systems.

Moreover, the majority of the revenue when global oil and gas prices are low will result from thermostatic control valve retrofitting activities in the oil and gas industry. These mentioned factors will hamper the growth of the market in focus during the forecast period.

Regional Analysis

 The Control Valves market in APAC's Fluid Power Energy sector is experiencing significant growth due to automation needs and modernization of industrial facilities.

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APAC is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Metrex Valve, AMOT, Dwyer Instruments, and others are key players. Inflation and constraints impact sales and production. Nuclear power plants and the chemicals industry drive demand for valves, including control valves and rotary valves, in process automation and safety applications. Media flow, process variable, set point, flow rate, pressure, and temperature are crucial product parameters. R&D activities and energy transition initiatives, such as investment in LNG and fossil power, contribute to the largest market share. Demand for energy security and sanitation also influences the market. Watts, the Control Valves market leader, focuses on connected networks and system safety.

Moreover, as manufacturers are entering the price-sensitive APAC market, they need to focus on heightening the processes without compromising the quality of the product. APAC is enduringly seeing rising investment in the power industry, as developing countries in APAC, such as Indonesia, India, and Vietnam, among others, are witnessing rapid industrialization and urbanization. In addition, the population in this region is increasing at a greater rate when compared with the developed countries. Such factors are expected to drive market growth in the region during the forecast period.

Who are the Major Industrial Thermostatic Control Valves Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AMOT Controls Corp - The company offers  Actuated 3-Way Rotary Control Valves, Thermostatic 3-Way Control Valves, and Thermostatic 2-Way Control Valves.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Albert Richter GmbH and Co. KG, AMOT Controls Corp., Armstrong International Inc., BOLA spol s.r.o., Cole Parmer, Danfoss AS, Dover Corp., Dwyer Instruments Inc., Fluid Power Energy, Fushiman Co. Ltd., Honeywell International Inc., Huegli Tech AG LTD., Metrex Valve Corp., Micromax Pty Ltd., Relevant Solutions LLC, Reliance Worldwide Corp. Ltd., ThermOmegaTech Inc., Thermoreg International Ltd., Watts Water Technologies Inc., and ZIMCO Instrumentation Inc. 

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook (USD Million, 2017 - 2027)
  • Oil and gas industry
  • Water and wastewater treatment industry
  • Power industry
  • Others

• Type Outlook (USD Million, 2017 - 2027)
  • Pneumatic thermostatic control valves
  • Electric thermostatic control valves

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market report delves into industrial processes and automation, analyzing key segments and restraints. It focuses on regulating fluids and gases through valve bodies and actuators, emphasizing raw materials, charges, and pipes. Various valve types cater to end-use industries like chemicals, energy, food and beverage, and pharmaceuticals. Key players such as Emerson Electric Co and Schneider Electric SE drive innovation in June 2022, introducing products like TC500A-N Connected Thermostat for enhanced BMS integration. The report employs SWOT and Ace Matrix analyses to assess service features, scalability, and growth roadmaps. With insights into industry giants like IMI plc and Siemens AG, it offers a comprehensive view of the thermal thermostat market, highlighting advancements and challenges in industrial automation and fluid control.

The market encompasses a diverse range of sectors, including the electric power industry and pharmaceuticals (drugs industry), where precise control over physical parameters such as temperature, pressure, and flow is crucial for operational efficiency and product quality. Process flows within these industries necessitate sophisticated control systems, with controllers playing a pivotal role in regulating various parameters. Within the realm of control systems, a multitude of valve types are employed, each serving specific purposes. Linear valves, such as gate valves and diaphragm valves, offer precise control over flow rates, while rotary valves like ball valves and butterfly valves excel in regulating flow in pipelines.

In industrial environments, the demand for precise control extends to temperature, pressure, and flow. This demand has led to the development of specialized valves tailored for these applications, including flow control valves, pressure control valves, and temperature control valves. These valves, equipped with actuators, allow for automated adjustments to maintain desired process conditions.

Industry  Scope
Report Coverage	Details
Page number	170
Base year	2022
Historic period	2017 - 2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.38%
Market growth 2023-2027	USD 272.86 million
Market structure	USD Fragmented
YoY growth 2022-2023(%)	3.92
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 43%
Key countries	US, China, Japan, UK, and France
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Albert Richter GmbH and Co. KG, AMOT Controls Corp., Armstrong International Inc., BOLA spol s.r.o., Cole Parmer, Danfoss AS, Dover Corp., Dwyer Instruments Inc., Fluid Power Energy, Fushiman Co. Ltd., Honeywell International Inc., Huegli Tech AG LTD., Metrex Valve Corp., Micromax Pty Ltd., Relevant Solutions LLC, Reliance Worldwide Corp. Ltd., ThermOmegaTech Inc., Thermoreg International Ltd., Watts Water Technologies Inc., and ZIMCO Instrumentation Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth analysis of factors that will challenge the growth of market companies

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