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Global Flow Control Market Size (2024 - 2029)

The flow control market is experiencing significant growth, driven by increasing demand from sectors such as oil & gas, electricity, and construction. This expansion is further fueled by the rise of industrial automation and the growing need for inflow optimization and production maximization. The market's size is also influenced by the adoption of IoT solutions, which enhance operational efficiency and reduce risks. Despite challenges posed by varying regional regulations and standards, the market continues to expand, particularly in industries like pharmaceuticals, energy, and utilities, which have seen accelerated innovation due to the pandemic.

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Market Size of Global Flow Control Industry

Flow Control Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 13.56 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Flow Control Market Major Players

*Disclaimer: Major Players sorted in no particular order

Flow Control Market Analysis

The global flow control market is expected to grow at a CAGR of 13.56% over the forecast period (2022-2027). Flow control solutions govern liquid and gas flow and pressure. The market is growing due to rising product demand from end-use sectors such as oil & gas, electricity, and construction. Flow control solutions are applicable for vertical, deviated, and horizontal completions and are suitable for inflow optimization and production maximization.

  • The market for flow control solutions is also rising due to the growing trend of industrial automation across various industries. An increasing number of power-producing units, and rising power consumption in developing nations, are boosting market expansion.
  • IoT solutions lower the cost of equipment operations while also lowering the danger of fatalities. Maintenance and repair specialists, for instance, seldom forecast equipment failure before the introduction of small smart sensors and only realized there was an issue when seen, which resulted in a substantial amount of time wasted on procurement (waiting for spare parts to arrive), disruption of several business processes, and a major drop in production efficiency. Oil and gas industries may now foresee and avoid problems utilizing IoT capabilities.
  • The Covid-19 pandemic significantly impacted industrial sectors such as oil and gas, chemicals, power, metals, and mining. As a result, demand for the goods produced by these industries declined. The market, however, significantly increased in various industrial sectors serving the pharmaceutical, energy, and utility applications. Additionally, the pandemic dramatically accelerated industrial automation, leading to a surge in product innovations.
  • For instance, in February 2022, Circor International, Inc. launched the CIR 3100 control valve, a new valve body with a variety of internal options for a wide range of general, critical, and severe applications, including oil and gas, power generation, processing industries, maritime, and renewables.
  • Valve makers must follow several standards and rules. When it comes to valves, different locations have distinct certifications and policies. As valves are used in many industries, such as oil & gas, food & beverage, pharmaceuticals, energy & power, water & wastewater treatment, building & construction, chemicals, and pulp & paper, demand is diverse. However, such variation impedes the valves market's growth because manufacturers must adopt the same product to regional policies, making it difficult for valve makers to obtain an ideal installation cost.

Flow Control Industry Segmentation

Flow control is a part of the more comprehensive industrial sector, which consists of firms that provide products or services concerning the management and control of liquids and gases. Such products comprise pumps, valves, meters, and other related equipment. The Global Flow Control Market is Segmented by Equipment Type(Pumps, Valves, Meters, and others), By Application (Oil & Gas, Power, Marine, Mining, Electronics), and Geography.

By Equipment Type
Pumps
Valves
Regulators
Meters
Others
By Application
Oil & gas
Power
Marine
Mining
Electronics
Water and Wastewater
Other Applications
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Global Flow Control Market Size Summary

The global flow control market is experiencing significant growth, driven by increasing demand from key sectors such as oil and gas, electricity, and construction. Flow control solutions, which manage the flow and pressure of liquids and gases, are essential for optimizing production and ensuring safety in these industries. The market is further bolstered by the trend of industrial automation, which enhances efficiency and reduces operational costs through IoT integration. Despite challenges posed by the Covid-19 pandemic, which temporarily dampened demand in some sectors, the market has rebounded, with accelerated innovations in industrial automation and new product launches. The oil and gas industry remains a dominant end-user, with flow control solutions playing a critical role in safeguarding operations and maximizing output.

Regionally, Asia Pacific is poised to be a major growth area, fueled by rapid industrialization and increasing energy consumption in countries like China, India, and Japan. The region's expanding manufacturing sector and significant investments in oil and gas infrastructure are key drivers of market expansion. The competitive landscape of the flow control market is moderately fragmented, with numerous regional and global players striving to expand their market presence through strategic collaborations and product innovations. Companies like Emerson Electric Co., Schlumberger Limited, and Valmet Oyj are actively enhancing their offerings to capture a larger share of the market.

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Global Flow Control Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porters Five Force Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Assessment of the Impact of COVID -19 on the Market

    5. 1.5 Technology Snapshot

      1. 1.5.1 Inflow control devices(ICDs)

      2. 1.5.2 Outflow control devices(OCDs)

      3. 1.5.3 Autonomous inflow control devices(AICDs)

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Equipment Type

      1. 2.1.1 Pumps

      2. 2.1.2 Valves

      3. 2.1.3 Regulators

      4. 2.1.4 Meters

      5. 2.1.5 Others

    2. 2.2 By Application

      1. 2.2.1 Oil & gas

      2. 2.2.2 Power

      3. 2.2.3 Marine

      4. 2.2.4 Mining

      5. 2.2.5 Electronics

      6. 2.2.6 Water and Wastewater

      7. 2.2.7 Other Applications

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Global Flow Control Market Size FAQs

The Global Flow Control Market is projected to register a CAGR of 13.56% during the forecast period (2024-2029)

Emerson Electric Co., Schlumberger Limited, Valmet Oyj, Alfa Laval Corporate AB and Flowserve Corporation are the major companies operating in the Global Flow Control Market.

Flow Control Market Report Snapshots

Flow Control Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)