India Control Valve Market Outlook to 2030

India Control Valve Market Overview

• India Control Valve Market was growing at a significant rate. It is reflected in Global Control Valve market which is valued at USD 9 billion in 2023, driven by increasing demand from the oil & gas, water & wastewater, power, chemicals, and food & beverages industries.
• Prominent players in the India Control Valve Market include Emerson Electric Co., Siemens AG, Flowserve Corporation, Honeywell International Inc., General Electric Company. These companies dominate the market through their extensive product portfolios, robust distribution networks, and strong customer relationships.
• In 2023, Emerson's introduced ASCOâ„¢ Series 273, a robust, reliable valve which underscores the company's commitment to innovation in valve solutions. This development signifies a growing trend of integrating digital technologies to improve valve performance and operational efficiency.

India Control Valve Current Market Analysis

• In 2019, the Indian government launched the National Infrastructure Pipeline (NIP) project. This initiative aims to enhance infrastructure development, thereby driving the demand for control valves. The total projected capital expenditure in the NIP is USD 1.5 trillion during the period of FY 2020-25.
• India Control Valve Market significantly impacts various industries by improving process efficiency, reducing wastage, and ensuring operational safety. The adoption of advanced control valves has led to enhanced productivity and reduced downtime in industries such as chemicals, pharmaceuticals, and food & beverages.
• Maharashtra particularly dominates the India Control Valve market, accounting for a substantial market share in 2023. This dominance is driven by the presence of numerous manufacturing industries, oil refineries, and chemical plants in cities like Mumbai, Pune, and Nashik, which significantly contribute to the market's growth.

India Control Valve Market Segmentation

The India Control Valve Market can be segmented based on several factors:

By Product Type: India Control Valve Market is segmented by Product Type into Globe Valves, Ball Valves & Butterfly Valves. In 2023, Ball Valves reign as the most dominant sub-segment. Ball valves held a dominant market share due to their widespread application in various industries, particularly oil & gas and chemicals.

By End-User: India Control Valve Market is segmented by End User in Oil & Gas, Water & Wastewater, Power, Chemicals, Food & Beverages. In 2023, oil & gas industry emerges as the most dominant sub-segment due to the increasing exploration and production activities. Additionally, the water & wastewater segment is witnessing significant growth due to the rising need for efficient water management systems.

By Region: India Control Valve Market is segmented by region into North, South, East & West. In 2023, the western region prevails due to its well-established industrial base. The presence of numerous oil refineries, chemical plants, and manufacturing units drives the demand for control valves in this region.

India Control Valve Market Competitive Landscape

• In 2024, Emerson's new Fisher FIELDVUE DVC7K Digital Valve Controller won the Product of the Year award from Control Engineering magazine. The DVC7K instrument features Advice at the Device technology with flexible connectivity, an easy-to-use interface, and allows real-time analysis of data to evaluate performance and reliability.
• In 2024, Siemens announced a breakthrough in automation technology with the introduction of the new Simatic Workstation, which is part of the Digital Enterprise portfolio. This innovation aims to enhance productivity and flexibility in various industries by integrating cutting-edge technologies.
• In 2024, Honeywell completed the acquisition of Carrier's Global Access Solutions business for $4.95 billion, which enhances its security solutions and building automation capabilities. This strategic acquisition aims to strengthen Honeywell's position by integrating advanced access control and security technologies into its portfolio.

India Control Valve Industry Analysis

India Control Valve Market Growth Drivers:

• Expansion in Oil & Gas Exploration: The expansion of oil and gas exploration activities is a critical growth driver for the control valve market in India. In 2023, India was producing 728,000 barrels in a day. This necessitates the use of advanced control valves to ensure operational safety and efficiency in these high-pressure environments to regulate flow and pressure in gas pipelines.
• Infrastructure Development Initiatives: Major infrastructure development projects are boosting the demand for control valves in India. In 2024, INR 11.1 lakh crores were allocated for infrastructure projects, driving the need for control valves in managing fluid flow and ensuring the reliability of these systems.
• Water & Wastewater Treatment Projects: In the Union Budget 2022-23, Rs. 60,000 crore was allocated to the 'Har Ghar Jal' component of the Jal Jeevan Mission to provide tap water to 3.8 crore households. These require precise flow control and regulation, creating a substantial demand for control valves.

India Control Valve Market Challenges:

• High Cost of Advanced Technologies: The high cost of advanced control valve technologies poses a significant challenge for the Indian market. High costs deter smaller companies from adopting advanced valve technologies, limiting market growth. Additionally, the maintenance and training costs associated with these advanced systems add to the financial burden on these enterprises.
• Lack of Skilled Workforce: There is a notable shortage of skilled personnel capable of operating and maintaining advanced control valve systems in India. This shortage hampers the effective implementation of control valve technologies and affects overall market growth.
• Supply Chain Disruptions: The Indian control valve market faces challenges due to supply chain disruptions. These disruptions impact production schedules and increase operational costs, creating challenges for manufacturers and end-users alike.

India Control Valve Market Government Initiatives:

• Atmanirbhar Bharat Abhiyan: The government announced an Atmanirbhar Bharat Abhiyan package in May 2020. Under the Union Budget 2021-22, the government launched a production-linked incentive scheme (PLI) across 13 sectors at $27.02 billion, for the next five years. This initiative encourages local production, reduces import costs, and enhances the competitiveness of Indian manufacturers
• Smart Cities Mission: The total investment proposed by the 99 selected smart cities under their plans is around ₹2,01,981 crore. This includes ₹1,63,138 crore for area-based development projects and ₹38,841 crore for pan-city initiatives. The focus on smart infrastructure development aligns with the increasing adoption of advanced control valve technologies.

India Control Valve Future Market Outlook

The India Control Valve Market is expected to grow exponentially by 2028, driven by increased adoption of smart valve technologies & expansion of renewable energy sector.

Future Trends

• • Increased Adoption of Smart Valve Technologies: Over the next five years, the Indian control valve market will witness increased adoption of smart valve technologies integrated with IoT and AI. These advanced valves will offer enhanced diagnostic capabilities, predictive maintenance, and real-time monitoring, significantly improving operational efficiency.
  • Focus on Sustainability and Eco-Friendly Solutions: The market will see a growing focus on sustainability, with manufacturers introducing eco-friendly control valves made from sustainable materials. By 2029, it is anticipated that eco-friendly control valves will account for around 30% of the market, reflecting the global shift towards sustainable industrial practices.
  • Expansion in Renewable Energy Sector: The expansion of the renewable energy sector will drive the demand for control valves in India. With the government’s target to achieve 450 GW of renewable energy capacity by 2030, there will be a significant increase in investments in wind, solar, and hydropower projects