The global industrial valves and actuators market was valued at close to USD 50 billion in 2016 and is expected to surpass USD 66 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global industrial valves and actuators market, under its automation portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like AVK, Cameron, Emerson, Flowserve, and Pentair.
According to Bharath Kanniappan, a lead analyst for automation research at Technavio, “Several companies are installing modern equipment and control technologies to ensure that all activities and sub-processes are streamlined, efficient, and faster. Furthermore, increasing investment in countries like Indonesia, South Korea, India, and China will help the vendors launch advanced technologies that will change the industrial landscape.”
Industrial valves and actuators have a varied range of application in the modernization of industry processes because of its simplicity of use, cost, and energy efficient properties. The manufacturers are focusing on integrating their systems and processes, thereby preventing downtime, improving efficiency, and reducing product lead time. The companies are also incorporating advanced technologies and processes to increase their production capabilities and profitability.
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Evolution of valve diagnostics
The businesses are using advanced diagnostic techniques and technologies to initiate modern automation of control valves. Innovative control valves will increase the operational performance of a manufacturing facility, regarding profitability, plant efficiency, safety, and quality. Moreover, valve diagnostics will easy the responsibility of maintenance teams and process control personnel in monitoring valve performance and receiving actionable information.
Growing application of simulation software
Several manufacturers in the market are using 3D simulation software that helps them to address the needs of customers regarding design requirements and applications. Simulation in valve design can aid vendors to lower the fabrication cost and product engineering time for non-standard valves manufacturing. These software solutions are also utilized for analyzing and testing solutions in the design phase without building multiple prototypes.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Industrial Valves and Actuators Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Valves Market for Power Industry 2016-2020
- Global Pneumatic Actuators Market 2016-2020
- Global Water and Gas Valves Market 2016-2020
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