Global Control Valve Market to Generate $7.96 Billion by 2027: AMR Surge in need for automation in the process industry and increase in demand from the food & beverages sector have boosted the growth of the global control valve market. The market across Asia-Pacific dominated in 2019, contributing to around two-fifths of the market. The demand for control valves decreased during the pandemic as the construction, chemical, and oil & gas sectors reduced their day-to-day operation.
February 19, 2021 09:57 ET | Source: Allied Market Research Allied Market Research
Portland,OR, Feb. 19, 2021 (GLOBE NEWSWIRE)
As per the report published by Allied Market Research, the global control valve market was pegged at $5.40 billion in 2019, and is expected to reach $7.96 billion by 2027, growing at a CAGR of 7.0 % from 2020 to 2027.