Control Valve Shipments Enjoy Double Digit Growth | Automation.com

Control Valve Shipments Enjoy Double Digit Growth

September 18, 2013 - Control valve shipments enjoyed another year of strong growth during 2012. Revenues and profits of the leading suppliers flourished, although at rates lower than that seen in 2011 following the market’s rebound from the effects of the global recession, according to a new ARC Advisory Group global market research study.

“Factors contributing to this growth include the constant pressure to improve performance in the process industries, investments in emerging economies for new projects, and modernization projects in developed regions designed to improve safety, reliability, sustainability, and process optimization. Ongoing oil & gas investments in developing regions, strong investments in shale gas and tar sands projects in North America, and a strong effort to increase downstream refining capabilities in the Middle East and China are some of the key highlights for the control valve market during 2012,” according to Research Director David Clayton, the principal author of ARC’s “Control Valve Global Market Research Study.”

Increasing Emphasis on Energy Efficiency
Ongoing initiatives to increase energy efficiency are impacting the control valve market. Industrial companies continue to seek energy efficiency in their operations. Global energy consumption is expected to grow by more than 50 percent between now and 2040. Demand for energy and the cost of it will only increase with population growth and increased industrialization. Environmental and sustainability proponents will demand that national governments and private industries respond effectively and responsibly to the challenge of developing competitive energy policies that include affordable and reliable energy supplies.

Growing Use of Remanufactured Valves
Acquiring remanufactured equipment offers an affordable alternative for many industrial end user organizations and is becoming a common practice. As capital budgets continue to tighten and the use of remanufactured equipment has proven successful, the practice is spreading across all the process industries and migrated to electronic devices as well.

This practice has led to the increased use of remanufactured equipment in hazardous locations, most notably in petrochemical plants and refineries. The reality is that many remanufactured devices no longer meet specifications for safe operation in hazardous areas.

The issue of remanufactured instruments is compounded by the trend to stock a single version of a device to avoid separate inventories for hazardous area and general-purpose applications. This scenario invariably leads to the use of remanufactured instruments in both general-purpose and hazardous area applications. Recognizing the increased use of remanufactured equipment, many leading automation and control valve suppliers now offer certified, remanufactured equipment that meet original specifications.

About ARC Advisory Group:
ARC Advisory Group is the leading market research and advisory firm for industry and infrastructure. Business and IT executives around the world depend on ARC for coverage of technology from automation and business systems to product and asset lifecycle management, supply chain management, logistics, operations management, controls and control elements. ARC is the “go-to” market research and technology analysis firm for their companies. ARC analysts have the industry knowledge and first-hand experience to help clients find the best answers.

Back to top
Posted in:
Industry
Related Portals:
Process Automation, Valves & Pumps

MORE INDUSTRY NEWS

VIEW ALL

RELATED