Pneumatic Segment to Dominate the Global Valve Remote Control System Market through 2026
Growing chemical industry
and ongoing technological advancements are expected to drive the demand for global
valve remote control system market in forecast period.
According to TechSci Research report, “Global Valve
Remote Control System Market By Type (Hydraulic, Pneumatic, Electric, &
Electro-Hydraulic), By Valve Type (Ball, Globe, Butterfly, Gate, Diaphragm,
Plug, Check, and Safety), By End User (Manufacturing, Power Generation,
Chemicals & Petrochemical, Oil & Gas and Marine), By Region, Competition
Forecast & Opportunities, 2026”, the global valve remote control system
market is expected to witness steady growth in the forecast period. The valve
remote control system is a kind of device which uses electricity, pneumatic
pressure, or hydraulic oil pressure as fuel for the operation. Valve remote
control systems are employed in the oil & gas industry as the industry is
susceptible to several accidents and the valve control systems keep a check and
avoid the occurrence of the accidents.
The COVID-19 outbreak across the world which has been
declared as a pandemic by the World Health Organization has affected several
countries adversely. Leading authorities around the world imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. The manufacturing units were temporarily shut down and
the workers at many places moved back to their native places which created a
shortage of workforce at the manufacturing units. The restrictions on the
import and export activity resulted in the disruption of supply chain which
negatively affected the growth of the valve remote control system market.
However, high installation costs of valve remote
control systems may restrain the market growth in the forecast period.
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Global
valve remote control system market is segmented into type, valve type, end
user, regional distribution, and company. Based on the type, the market can be
divided into hydraulic, pneumatic, electric, & electro-hydraulic. The
pneumatic segment is expected to account for major market share in the forecast
period, 2022-2026. The huge demand for the pneumatic valve remote control
systems in the conveyors, cranes & hoists, amongst others in developed
countries is contributing significantly to the segmental growth. It protects
the actuator and valve present in the system and is highly durable. Based on
the valve type, the market can be divided into ball, globe, butterfly, gate,
diaphragm, plug, check, and safety. The ball segment is expected to dominate
the market throughout the forecast period owing to its huge applications in the
marine industry. Based on end user, the market can be divided into
manufacturing, power generation, chemicals & petrochemical, oil & gas,
and marine. The chemicals & petrochemicals industry is expected to witness
the fastest incremental growth in the next five years. The chemical industry is
growing rapidly as it finds applications in the most prominent industry
verticals including water treatment, construction, textile, agriculture, paper
& pulp, consumer electronics, pharmaceuticals industry, amongst others. The
use of valve remote control systems in this industry ensures safety and
maintains the workflow of the organizations without any disturbance.
Emerson
Electric Co., Nordic Group Limited, KSB Korea Ltd, Rotork plc, Wartsila
Corporation, Danuni Marine & Offshore A/S, CycloTech, SelmanCo, Nakakita
Seisakusho Co. Ltd., Greatech Technology are the leading players operating in global
valve remote control system market. Market players are increasingly focusing on
research and development process to fuel higher growth in the market. To meet
evolving customer demand with respect to better efficiency and durability,
several valve remote control system manufacturers are coming up with their
technologically advanced offerings.
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“The
rapid industrialization around the globe to satisfy the growing requirements of
the rising population is creating lucrative opportunities to flourish the water
trade activities which in turn in boosting the valve remote control system
market growth. Growing installation of the valve control systems in major
industries to avoid the mishappenings that also result in monetary losses is
expected to influence the growth of the market. Adoption of automation
technology in the manufacturing industries to ensure the safety and reliability
during oil & gas operations is expected to propel the growth of the valve
remote control system market till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global
Valve Remote Control System Market By Type (Hydraulic, Pneumatic, Electric,
& Electro-Hydraulic), By Valve Type (Ball, Globe, Butterfly, Gate,
Diaphragm, Plug, Check, and Safety), By End User (Manufacturing, Power Generation,
Chemicals & Petrochemical, Oil & Gas and Marine), By Region, Competition
Forecast & Opportunities, 2026” has evaluated
the future growth potential of global valve remote control system market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global valve remote
control system market.
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