Motorized Control Valves Market is Set for Rapid Growth And Trend by 2022
Motorized control valves are commonly used in small and large hydronic heating and cooling systems. These are utilized to remotely control the flow of fluids and gases accurately through an electric actuator. The difference in the operating mechanism of other mechanical stopcocks and these components lie only in the actuation inputs. Motorized control valves find significant applications in industrial sector that includes, water and wastewater treatment, oil & gas industry, chemical manufacture, and power generation.
Increasing awareness regarding the implementation of automation, which helps in increasing efficiency and reducing downtime, will create considerable demand over the forecast period
Motorized control valves market has witnessed significant adoption rate in the oil & gas industry, primarily owing to the utilization of smart valves that are integrated with smart sensors and embedded processors. These advancements allow the industries to establish efficient networking capability and enable remote monitoring of the industry operations. Moreover, real time update, reduced human workforce interventions, ability of these systems to provide actionable solutions for preventive maintenance, and minimal downtimes are projected to drive the overall industry demand throughout the forecast period.
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Integration of diagnostic functions to monitor the performance and efficiency of motorized control valves has witnessed high adoption in industries to improve the plant production output
Utilization of these diagnostic functions helps in accessing information from plant parameters that helps in important decision making for the improvement of plant output efficiency. Industrial applications that include chemical and oil & gas that require enhanced safety and monitoring to prevent losses and meet the production demand are expected to drive the motorized control valves market growth.
Oil & Gas dominated the end-use industry segment in 2016 and is expected to continue its dominance over the next few years
Owing to the increasing deployment of motorized control valves to measure and monitor the oil & gas flow, oil & gas is expected to remain the most attractive end-use industry over the next few years. According to The World Bank, over 54% of the global population resides in urban area, which is expected to witness significant growth over the next decade. This in turn will lead to considerable growth in demand for portable water and wastewater treatment plants, which is estimated to bolster the motorized control valves market growth over the forecast period. Developing economies that project high urbanization rate, specifically China, India, Indonesia, Brazil, Russia, and Mexico, are expected to create significant demand for motorized control valves.
Butterfly valves dominated the overall industry share by product owing to lightweight, high efficiency, and application of these components in chemicals, water and wastewater treatment, and F&B industries
Asia Pacific is expected to present significant growth prospects over the forecast period, primarily owing to high urbanization rate and significant population base in the region. Moreover, significant increase in industrialization and manufacturing activities in the region, specifically in China, India, and Indonesia will present strong growth landscape over the forecast period.
Chief industry participants in the motorized control valves market include Danfoss, Cair Euromatic Automation, Emerson Electric, and Pentair. Other prominent vendors include Belimo, Marsh Automation, Hitachi, Honeywell, Avcon Controls, Schubert & Salzer, BI-TORQ Valve Automation, Rotork, Flowserve, Hansen Technologies, and A.u.K. Müller GmbH. The market is fragmented in nature with several regional players competing international vendors in the industry segment. Industry participants are increasingly focusing on reducing the overall operational expenses through minimizing raw material consumption and reducing overall production time. Utilization of simulation software to estimate the exact operational outputs and customization requirements is a key trend identified in the market. Use of simulation in the designing and manufacturing stages are featured to reduce the time consumption by 30% as compared to the conventional methods.
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