The control valve market is expected to grow at a compound annual growth rate of 5.01% over the forecast period to reach a market size of US$11.641 billion in 2026 from US$8.267 billion in 2019. The expanding appropriation of modern mechanization is boosting the utilization of smart control valves. Developing power generation plants across the world and expanding the requirement for energy from developing nations are driving the demand for control valves.