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Control Valve Market worth $13.99 billion by 2032 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., June 9, 2026 /PRNewswire/ — According to MarketsandMarkets™, the control valve market is projected to reach USD 13.99 billion by 2032 from USD 10.81 billion in 2026, at a CAGR of 4.4%.

Browse 150 market data Tables and 70 Figures spread through 250 Pages and in-depth TOC on ” Control Valve Market – Global Forecast to 2032″

Control Valve Market Size & Forecast:

Market Size Available for Years: 2021–20322026 Market Size: USD 10.81 billion2032 Projected Market Size: USD 13.99 billionCAGR (2026–2032): 4.4%

Control Valve Market Trends & Insights:

The control valve market is expected to grow significantly as industries increase investments in industrial automation, process optimization, and infrastructure modernization across sectors such as oil & gas, energy & power, chemicals, and water & wastewater treatment. This growth is further driven by the rising demand for efficient flow control systems, stringent industrial safety regulations, and increasing focus on improving operational efficiency and energy management. Product innovations and strategic collaborations by key players such as Emerson, Flowserve, SLB, Valmet, and IMI plc, including the development of smart control valves and integration with IoT- and AI-based automation systems, are further reinforcing sustained market growth.By material, the stainless steel segment is expected to register the highest CAGR of ~42% during the forecast period.By component, the actuator segment is expected to record the highest CAGR of ~44% during the forecast period.By type, the rotary segment is expected to record the highest CAGR of ~64% during the forecast period.By valve size, >6–25″ segment is expected to register the highest CAGR of 44% during the forecast period.By end-use industry, the oil & gas segment is expected to dominate the market during the forecast period.By region, Asia Pacific is expected to dominate the control valve market with a share of ~38% in terms of value in 2026.

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The key factor propelling the growth of the control valve market is the strong growth due to increasing industrial automation and rising investments across industries such as oil & gas, energy & power, chemicals, and water & wastewater treatment. Industries are increasingly deploying advanced control valves to improve process efficiency, operational safety, pressure regulation, and flow management across production, storage, and transportation systems. Furthermore, the integration of smart technologies such as IoT-enabled monitoring, AI-driven diagnostics, predictive maintenance, and real-time automation systems is significantly enhancing operational reliability and reducing downtime. The growing demand for severe-service, cryogenic, and energy-efficient control valves, along with rising investments in LNG infrastructure, hydrogen projects, refinery modernization, and Industry 4.0 initiatives, continues to strengthen the growth of the global control valve market.

Based on type, rotary segment to register highest CAGR in control valve market during forecast period

Rotary control valves are projected to register the highest CAGR in the control valve market during the forecast period due to their compact design, high flow capacity, fast operation, and cost-effective performance. These valves are widely used across industries such as oil & gas, chemicals, energy & power, water & wastewater treatment, and food & beverages for efficient flow regulation and process automation applications. Their ability to provide reliable throttling performance, lower maintenance requirements, and compatibility with automated control systems makes them highly preferred in modern industrial operations. Increasing adoption of industrial automation, smart manufacturing technologies, and digital valve control systems is further accelerating the deployment of rotary control valves globally.

>6–25″ segment to account for largest share of control valve market, by valve size, throughout forecast period

The >6–25″ valve size segment is expected to account for the largest share of the control valve market throughout the forecast period due to its extensive use across large-scale industrial applications such as oil & gas, chemicals, water & wastewater treatment, and mining. Control valves within this size range are widely deployed in pipelines, processing plants, refineries, and utility infrastructure, where efficient handling of high flow volumes and pressure control is critical for operational performance. These valves offer a balance between flow capacity, reliability, and process control efficiency, enabling smooth industrial operations under demanding conditions. Increasing investments in industrial infrastructure, process automation, and energy projects are further strengthening the dominance of the >6–25″ valve size segment in the global control valve market.

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Asia Pacific to account for largest market share throughout forecast period

Asia Pacific is expected to account for the largest share of the control valve industry throughout the forecast period, driven by rapid industrialization, infrastructure development, and increasing adoption of industrial automation across major economies such as China, India, Japan, and South Korea. The region has a strong presence of oil & gas, chemicals, energy & power, water & wastewater treatment, which are significantly driving the demand for control valves. China alone accounts for a major share of the regional market due to large-scale industrial production, expanding refinery and power infrastructure, and increasing investments in smart manufacturing and process automation technologies.

From a qualitative perspective, strong government support for industrial modernization, energy infrastructure expansion, and manufacturing growth is accelerating market adoption across the region. Additionally, Asia Pacific hosts a large base of industrial equipment manufacturers, automation solution providers, and process industries, enabling cost-effective production and widespread deployment of control valves. Rapid expansion of water treatment projects, refinery upgrades, chemical processing facilities, and renewable energy infrastructure further increases demand for advanced flow control and automation solutions. As a result, the region combines high industrial demand with strong manufacturing capabilities, positioning it as the leading and fastest-growing market for control valves globally.

China is expected to account for the largest share of the Asia Pacific control valve market during the forecast period due to its strong focus on industrial automation, expanding manufacturing sector, large-scale infrastructure projects, and rapid investments in energy and process industries. High demand from sectors such as oil & gas, chemicals, energy & power, water & water treatment is driving market adoption in the country. Additionally, government initiatives supporting smart manufacturing, industrial digitalization, and infrastructure modernization, along with the presence of major domestic manufacturers, are contributing to sustained market growth in China.

Key Players

The control valve companies includes many major Tier I and II players. Emerson Electric Co. (US), Flowserve Corporation (US), SLB (US), KITZ Corporation (Japan), Valmet (Finland), IMI plc (UK), Crane Holdings Co. (US), Curtiss-Wright Corporation (US), SB SE & Co. KGaA (Germany), and Baker Hughes Company (US) are among a few key players.

These players have a strong market presence in control valve technologies across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).

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MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

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ScienceOra Demonstrates AI-Assisted Hydrogen-Production Catalyst Design Workflow at Tencent Global Digital Ecosystem Summit

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The workflow spans literature analysis, candidate design, experimental planning and industrial decision support, extending AI4S into materials research

SHENZHEN, China, Oct. 30, 2026 /PRNewswire/ — Wenge AI demonstrated an AI-assisted hydrogen-production catalyst design workflow supported by ScienceOra at the 2026 Tencent Global Digital Ecosystem Summit. The demonstration showed how AI for Science (AI4S) can connect literature analysis, catalyst candidate design, experimental planning and industrial decision support, helping materials researchers translate scientific evidence into actionable research plans.

ScienceOra is Wenge AI’s intelligent research decision platform, built on the ScienceOne Scientific Foundation Model. For specialist research tasks such as materials development, the platform brings together scientific models, professional literature, research data and tools to support information access, research-plan development and scientific decision-making.

From literature analysis to catalyst candidate design

The demonstration focused on the design of a high-entropy alloy catalyst for the alkaline hydrogen evolution reaction. To address the need for high activity and durability, ScienceOra searched professional literature and drew on published research methods and elemental properties to support the development of candidate designs. It also cross-checked optimization proposals against relevant literature, providing researchers with references that could be reviewed and verified.

Rather than simply generating material formulations, the workflow connects documentary evidence, materials knowledge and specific design objectives to support more targeted analysis of candidate solutions. Researchers remain responsible for assessing scientific validity and determining subsequent research directions.

From experimental planning to industrial decision support

For experimental planning, ScienceOra can assist in developing research protocols around candidate designs, helping researchers organize experimental variables and producing testing standard operating procedures (SOPs) and related reference information for subsequent validation.

For industrial applications, the platform can also support comparative analysis across dimensions such as the feasibility of scaled hydrogen production, performance at industrially relevant current densities, durability, raw-material availability and compatibility with mass-production synthesis processes. It can then assist in establishing decision priorities, screening criteria and process-improvement recommendations.

Candidate designs, experimental plans, process recommendations and references can be consolidated into a structured research report, helping R&D teams assess scientific evidence alongside engineering constraints. AI provides analytical and decision support, while experimental testing and scientific validation remain essential parts of materials research.

Previously disclosed collaboration reports design efficiency and activity improvements

In a previously disclosed industry–research collaboration on hydrogen-production catalyst design, ScienceOra supported literature analysis and research-plan development. The collaboration reported a 38% improvement in catalyst activity and reduced the design stage from several months to 30 minutes. The case illustrates the potential of domain-specific AI to connect scientific literature, research design and engineering requirements.

ScienceOra was recently made available on Tencent WorkBuddy, with an initial offering of more than 30 research expert agents and skills covering literature analysis, research hypotheses, plan design, modeling and simulation, validation analysis and research communication. The conference demonstration further illustrated how ScienceOra can be applied to specialist materials research, as AI4S moves beyond general information processing toward support for research workflows and industrial R&D decision-making.

For more information, visit https://www.scienceone.ai/portal/.

About Wenge AI

Wenge AI (1956.HK) is a provider of artificial intelligence technology and service platform products for enterprises. With self-developed large models as its core, the company helps enterprises build practical intelligent platforms and applications. Founded by a team of AI scientists from the Chinese Academy of Sciences, Wenge AI has deep technological expertise in large models, cognitive intelligence and complex-system modeling, and is committed to advancing AI from technological capabilities to enterprise-level applications.

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Cake Digital Bank Wins Gold at Qorus-Infosys Finacle Banking Innovation Awards 2026

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ROME, Oct. 31, 2026 /PRNewswire/ — Cake Digital Bank, a digital-only bank from Vietnam, has won Gold at the Qorus-Infosys Finacle Banking Innovation Awards 2026 for its initiative, “Reinventing Financial Experiences Through an AI-First Banking Model.” Cake was the only financial institution from Vietnam recognized at this year’s awards.

The winners were celebrated in Rome, Italy, during Infosys Finacle Conclave 2026. The 13th edition of the awards attracted 538 submissions from 206 financial institutions across 68 countries, with 37 institutions recognized across ten award categories. The selection process combined voting by industry peers with evaluation by an expert jury of 81 senior banking executives.

The award-winning institutions included leading international banking names such as Santander, Commonwealth Bank, DBS, Maybank, and CaixaBank, reflecting the global scope and competitive landscape of the awards.

John Berry, Chairman of Qorus, observed that the banking industry is entering a new era in which AI is becoming integral to innovation, transforming initiatives and expanding the possibilities of financial services.

Building an AI-First Banking Model from the Ground Up

As artificial intelligence becomes increasingly central to banking innovation, financial institutions face a growing challenge: translating technological capabilities into better customer experiences, greater operational efficiency, and sustainable business performance.

Cake’s AI-first approach reflects this industry shift while taking a different starting point. Rather than integrating AI into established banking processes, Cake was built as a digital-only bank from the outset, embedding AI, data, and automation into its technology architecture, operating model, and customer journeys.

This greenfield foundation has enabled Cake to develop an integrated AI-first banking model, where technology supports how the bank makes decisions, manages operations, and delivers financial services at scale.

Supported by its independently developed core banking and card management systems, Cake applies AI across the banking value chain, from customer onboarding, credit assessment, and fraud prevention to risk management, customer service, and personalized financial recommendations.

Beyond operational efficiency, Cake has also invested in localized AI capabilities designed specifically for Vietnamese users, enabling more accessible, responsive, and personalized financial experiences.

Scaling Growth with Efficiency and Sustainable Business Performance

Nearly six years since its launch, Cake has grown to serve more than 8 million customers, demonstrating the scalability of its branchless digital banking model.

Cake achieved positive EBITDA in Q3 2024, just 3.5 years after launch, marking a significant milestone in demonstrating the viability of its digital-only banking model. The bank subsequently recorded 173% year-on-year revenue growth in 2025, followed by a further 121% growth in 2026, reflecting sustained business momentum as it continues to scale. Meanwhile, average revenue per user (ARPU) increased from USD 12 in 2024 to USD 44 in 2026, highlighting Cake’s ability to generate greater value from its growing customer base.

Beyond customer acquisition, Cake’s growth strategy increasingly focuses on deepening customer relationships and expanding the range of financial needs served through its platform and partner ecosystems. This approach reflects the bank’s evolution toward a mature digital banking model, where scale is complemented by stronger customer engagement, operational efficiency, and long-term business sustainability.

Nguyen Huu Quang, CEO of Cake Digital Bank, said:

“Winning Gold at the Qorus-Infosys Finacle Banking Innovation Awards is a meaningful international recognition of Cake’s AI-first banking model. From the beginning, our ambition has been to build a digital bank that combines technological innovation with sustainable business performance, while making financial services simpler, more accessible, and more relevant to customers. This recognition reinforces our commitment to delivering world-class banking experiences for Vietnamese users and continuing to advance our AI-first capabilities.”

The Gold Award marks another milestone in Cake’s development as a next-generation AI-first digital bank. It also demonstrates how a banking model developed and scaled in an emerging market can deliver meaningful customer and business outcomes, contributing practical perspectives to the global conversation on the future of digital banking.

In September 2026, Cake was also named “Vietnam’s Best Digital Bank” by Euromoney under its Group Level Banking Awards, further recognizing the bank’s progress in strategy, technology, and business performance.

About the Qorus-Infosys Finacle Banking Innovation Awards

The Qorus-Infosys Finacle Banking Innovation Awards are jointly organized by Qorus, a global association for retail financial institutions, and Infosys Finacle, a digital banking solutions provider. Now in their 13th edition, the awards recognize innovative initiatives and banking models that deliver meaningful impact across the global financial services industry.

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KSAT and Morehead State University Partner to Expand Lunar Communications Infrastructure

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Partnership strengthens the KSAT Lunar Network and supports deep space and lunar exploration

DENVER and MOREHEAD, Ky., Oct. 31, 2026 /PRNewswire/ — Kongsberg Satellite Services (KSAT), a leading provider of ground station networks and satellite operations, today announced a strategic partnership with Morehead State University (MSU) to enhance the KSAT Lunar Network, supporting the growing demand for communications and tracking services for deep space and lunar missions.

The partnership leverages MSU Space Science Center’s established deep space communications capabilities, including its 21-meter and 12-meter-class antennas in Morehead, Kentucky, to further increase the KSAT Lunar Network. Together, the partnership enables mission operators to maintain reliable links with spacecraft operating beyond Earth orbit by adding network capacity and resiliency over the Eastern United States.

“Partnering with MSU advances KSAT’s ability to deliver the communications infrastructure required for the accelerated demand for deep space and lunar missions. We are especially thrilled about this partnership as it helps enable science and exploration space missions today, while developing the next-generation workforce to support the long-term development of the U.S. cislunar economy,” said Dan Adams, General Manager of KSAT Inc.

“This partnership reflects our commitment to supporting the future of space exploration through innovation, education, and collaboration,” said Dr. Benjamin K. Malphrus, Executive Director of Space Science Center. “Working with KSAT provides exciting opportunities for our students and researchers while enabling us to contribute directly to the thriving commercial sector.”

KSAT and MSU share a strong commitment and heritage of supporting NASA’s Artemis program, most recently the Artemis II mission, and the broader science and exploration, as well as inspiring the next generation. In addition to expanding KSAT Lunar capabilities, the partnership will create even more opportunities for student involvement and workforce development through KSAT’s internship programs, helping prepare the next generation of engineers and space professionals for careers in the rapidly growing space sector.

About KSAT:

Kongsberg Satellite Services (KSAT) is the leading commercial provider of Ground Station Services, Earth Observation Services, and Satellite Operations Services. Headquartered in Tromsø, Norway, the company operates the largest commercial satellite ground station network worldwide, including facilities in Svalbard and Antarctica to provide unique southern hemisphere coverage. Through KSAT Inc., KSAT’s U.S. based full-capability subsidiary, KSAT delivers mission-critical infrastructure for customers in government, civil, and commercial space in the United States, as well as the global space industry. 

About MSU:
Morehead State University (MSU) is a comprehensive, regional university located in Appalachian Kentucky in the Daniel Boone National Forest. MSU is known for excellence in STEM fields and pre-professional programs. The Space Science Center is MSU’s Program of Distinction and manages a significant research and development portfolio in small satellite systems, having executed 7 smallsat missions to date. The Center operates a 21-meter ground station and a 12-meter tracking antenna that provides lunar tracking services and smaller aperture ground stations for satellite telecommunications support. The Center also supports innovative undergraduate, graduate and a Doctor of Engineering program in Space Systems Engineering.

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