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Technavio has published a new market research report on the global control valves market from 2018-2022. (Graphic: Business Wire)
The developments in control valve positioners are one of the major trends being witnessed in the market. Control valves have undergone substantial development in the past few years in terms of design and performance with control valves becoming more compact, endowed with higher shutoff capability, and using advanced sealing technology. These control valves are more resistant to corrosion and erosion and have improved anti-cavitation and noise-reducing trims. One of the key factors contributing to the improved performance is the development of control valve positioners. Advances in technology have resulted in the introduction of smart and digital valve positioners. With digital communication protocols expanding their functional areas and scope in industries, the capabilities of these smart and digital valves are also evolving.
Rising investments in fluid handling
Investments in fluid handling technology have been on the rise across the globe in industries such as oil and gas and water and wastewater. The shale oil boom in North America has resulted in increased demand for fluid handling equipment and components such as control valves. These control valves are essential to control the shale oil exploration and production process as well as to maintain the smooth flow of shale oil while transporting it through pipelines. With crude oil prices witnessing a rise in the last quarter of 2017, new upstream oil and gas exploration projects are anticipated to commence and will drive demand for control valves in the oil and gas industry.
In the US, new shale oil projects that are under development will require the construction of new pipelines for transporting the shale oil. These new shale oil and gas pipelines are anticipated to come online during the initial years of the forecast period, thereby spurring the demand for control valves in the midstream sector of the oil and gas industry. The water and wastewater industry is another major end-user of fluid handling technology due to the growing stringency of the regulations on clean and pre-treated water.
According to a senior analyst at Technavio for , “New water and wastewater treatment projects are in progress around the world, with the Americas, Asia, and the Middle East leading the charge for new water and wastewater projects. In North America, the industry is driven by the need to revive and revamp its water and wastewater infrastructure while in regions such as Asia, Latin Americas and Asia, additional water and wastewater projects are necessary to cater to the growing demand for water.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global control valves market segmentation
This market research report segments the global market into the following applications (pneumatic, electrical, and hydraulic) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas was the leading region for the global control valves market in 2017, accounting for a market share of more than 28%. It was followed by EMEA and APAC. APAC is expected to post significant growth during the forecast period when compared with the other regions.
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INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING ENGINEERING OTHER MANUFACTURING
SOURCE: Technavio Research
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PUB: 04/30/2018 09:39 AM/DISC: 04/30/2018 09:39 AM