Industrial Thermostatic Control Valves Market - Global Forecast and Opportunity Assessment by Technavio
According to the latest market study released by Technavio,
the global
industrial thermostatic control valves market is expected to
reach USD 1098 million by 2021, growing at a CAGR of more than 5%.
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Technavio has published a new report on the global industrial thermostatic control valves market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global
Industrial Thermostatic Control Valves Market 2017-2021’
provides an in-depth analysis of the market in terms of revenue and
emerging market trends. This market research report also includes up to
date analysis and forecasts for various market segments and all
geographical regions.
The rising number of applications in the power industry and the rapid
adoption of automation in the end-user industries is the primary reason
for the growth of the industrial thermostatic control valves market.
Industrial thermostatic control valves will subsequently experience an
upsurge in growth with businesses looking to incorporate safety measures
within industries, by adhering to the government standards and
minimizing the impact of hazardous operations on industrial workers. The
power industry is expected to witness the maximum adoption of
thermostatic control valves during 2016-2021 due to series of fresh
investments, especially in the APAC region.
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Technavio’s industrial
automation research analysts categorize the global industrial
thermostatic control valves market into the following segments by
end-user. They are:
-
Oil and gas industry
-
Water and wastewater treatment industry
-
Power industry
-
Others
The top three end-user segments for the global industrial thermostatic
control valves market are discussed below:
Oil and gas
Many thermostatic control valves are employed in oil and gas plants to
accommodate complex operations, such as draw works, drilling, service
rigs, mooring, and mud pumps for oil explorations. The drop in crude oil
price by 50% in 2014 as compared with 2013 created a huge imbalance in
the oil and gas industry, and thus, the profit margin of oil producers
was impenetrable. The low oil price crisis will bring slow growth for
the thermostatic control valves market during the forecast period.
According to Raghav Bharadwaj Shivaswamy, a lead automation
research analyst from Technavio, “Several European and the
American governments have started imposing regulations on the oil and
gas industry to safeguard the interests of both environment and human
life. The European Union has formulated strict guidelines ensuring that
these industries incorporate operational safety and reduction in
emission. These norms and directives will drive the demand for
thermostatic control valves during the forecast period.”
Water and wastewater treatment industry
Many opportunities for revenue generation for the thermostatic control
valves market will be provided by the water and wastewater treatment
industry during the forecast period. The water and wastewater treatment
industry needs to ensure highly error-free production by ensuring the
water conductivity, pH level, corrosion rates, and other parameters as
per the measuring standard during the treatment process.
“Growth in population and rising water applications will contribute
to modern treatment facilities for both raw and wastewater. Thermostatic
control valves are expected to play a key role in regulating temperature
and flow rates in water pipelines,” says Raghav.
Power industry
Developing countries across the world are expanding their power
generation capacity to address the rising demand for energy. The third
major revenue contributor to the industrial thermostatic control valves
market is the power industry. Countries are investing in advanced
technologies and equipment to scale up production capacities due to
increased demand for power.
Many industrial valves for various solar and wind power plants are
deployed by countries like China, India, and South Korea, which will
augment the need for thermostatic control valves. China is the largest
wind power market. 138GW capacity wind power projects were sanctioned in
China during 2011-2015. The government initiative toward sustainable
energy provides incentives and fuels the growth of power industry in
China.
The top vendors highlighted by Technavio’s research analysts in this
report are:
-
AMOT
-
Danfoss
-
Fluid Power Energy
-
Fushiman
-
Metrex Valve
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
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