Global Choke Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview

of Global Choke Valve market:
The latest research study on the global Choke Valve market finds that the global Choke Valve market reached a value of USD 493.98 million in 2022. It’s expected that the market will achieve USD 616.02 million by 2028, exhibiting a CAGR of 3.75% during the forecast period.

Choke valve is a type of control valves, mostly used in oil and gas production wells to control the flow of well fluids being produced. Another purpose that the choke valves serve is to kill the pressure from reservoir and to regulate the downstream pressure in the flowlines. Choke valves allow fluid flow through a very small opening, designed to kill the reservoir pressure while regulating the well production. The reservoir fluids can contain sand particles. Hence the choke valves are usually designed to handle an erosive service.

Opportunities
Choke valves are widely used in the oil and gas industry. The function of the non-regulating throttle is to act as a switching valve and kill the reservoir pressure to the desired operating value in the flow line. The opening in the throttle is sized to relieve pressure when the valve is fully open. The regulating throttle valve is an automatic valve whose opening can be controlled by pneumatic or electrical signals to regulate the flow
in the pipeline. Throttle valves play an important role in improving the safety, profitability and efficiency of end-use industries in multiple production processes. Valves provide advantages in temperature or pressure regulation in the upstream, midstream and downstream activities of the entire oil and gas industry.
Due to increased demand for shale oil and natural gas, new oil and gas projects are driving the construction of new pipelines for the transport of shale oil. This is expected to drive the throttle market in the next few years. Natural gas exploration activities in different regions and the need to replace valves may create attractive opportunities for overall market expansion.
The increase in fluid handling investment is one of the key factors expected to drive the growth of the throttle market within the forecast timeframe. Investment in fluid handling technology in the oil and gas and water and wastewater management sectors has increased. This has spurred the demand for throttle valves in these industries in recent years.

Region Overview:
From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:
The top three companies are Schlumberger, Master Flo and IMI Critical Engineering with the revenue market share of 10.28%, 8.64% and 8.25% in 2018.

Schlumberger Limited is the world's largest oilfield services company. Schlumberger employs approximately 100,000 people representing more than 140 nationalities working in more than 85 countries. Schlumberger has four principal executive offices located in Paris, Houston, London, and the Hague.

Master Flo Valve Inc. provides ground and subsea flow management solutions to the global oil and gas industry.
Customers rely on throttles, control valves, drive, automation and communication solutions, as well as expertise and global support to ensure cost-period and reliable production through reliable flow to ensure their lifecycle in the field.

Segmentation Overview:
Among different product types, Non-regulating segment is anticipated to contribute the largest market share in 2028.

Application Overview:
By application, the Oil and Gas Production Wells segment occupied the biggest share from 2018 to 2022.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Choke Valve market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Choke Valve market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Choke Valve and its sub-markets in an intuitive way.

Key Companies in the global Choke Valve market covered in Chapter 3:
Weir Group
Well Master
Schlumberger
General Electric
Mokveld
National Oilwell Varco
Master Flo
Cyclonic Valve Company
Quam
Jereh Group
SchuF Group
Taylor Valve Technology
IMI Critical Engineering

In Chapter 4 and Chapter 14.2, on the basis of types, the Choke Valve market from 2018 to 2029 is primarily split into:
Non-regulating
Regulating

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Choke Valve market from 2018 to 2029 covers:
Oil and Gas Production Wells
Reservoirs
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Choke Valve market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029

Frequently Asked Questions