The report "Valve
Remote Control System Market by Type (Hydraulic, Pneumatic, Electric, &
Electro-Hydraulic), Application (Marine and Offshore), Valve Type (Ball, Globe,
Butterfly, Gate, Diaphragm, Plug, Check, and Safety), and Region - Global
Forecast to 2023" The valve remote control system market is expected to
grow from an estimated USD 6.4 billion in 2018 to USD 8.0 billion by 2023, at a
CAGR of 4.73%. An increased need for industrial valves from oil & gas
production is likely to drive the valve remote control system market.
Browse 63 market
data Tables and 26 Figures spread through 113 Pages and in-depth TOC on
"Valve Remote Control System Market - Global Forecast to 2023"
On the basis of
type, the pneumatic segment is expected to hold the largest share of the
market.
The pneumatic segment is projected to grow at the highest
CAGR during the forecast period. The pneumatic segment is primarily driven by
cranes and hoists, palletizers and de-palletizers, conveyors, automated
storage, and retrieval systems. The valve remote control system plays a vital
role to divert compressed air to individual pneumatic actuators, and thus drive
the connected valve to open/close in the system. Increase in demand for valves
& actuators for the oil & gas production is likely to boost the Middle
East & Africa pneumatic valve remote control system market due to the
largest petroleum reserves holding countries in the region.
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The offshore
voltage segment is expected to be the fastest growing valve remote control
system market, by application type, during the forecast period.
The offshore valve remote control system is expected to
grow at the highest CAGR from 2018 to 2023. The market is primarily driven by
the increased need for industrial valves from oil & gas production. The
growing production of oil sands and shale gas fuels increased the demand for
valve remote control systems in North America. Moreover, the increased
investments in natural gas exploration and refineries are likely to boost the
offshore valve remote control system market. Also, the increased drilling
activities in countries such as Saudi Arabia, the UAE, and Algeria would
positively impact the offshore market during the forecast period.
Middle East &
Africa is expected to be the leading valve remote control system market, by
region, during the forecast period.
In this report, the valve remote control system market
has been analyzed with respect to 5 regions, namely, Asia Pacific, North
America, South America, Europe, and the Middle East & Africa. The Middle
East & Africa led the global valve remote control system market in 2018.
Saudi Arabia, UAE, and Oman are the largest valve remote control system markets
in the region. These countries are investing in their grid expansion projects
to increase distribution grid reliability. Saudi Arabia accounted for the largest
share of the Middle East & Africa valve remote control system market in
2017 and is estimated to have the highest installed valve remote control
systems during the forecast period. Almost all the countries in the region are
augmenting their oil & production capacity. UAE, Saudi Arabia, and Oman are
investing heavily in their offshore projects. Algeria, Nigeria, and Angola are
also emphasizing on the oil & production to meet their increasing energy
demand. This has led to a rise in investments in the offshore sector to drive
the growth of the Middle East & Africa valve remote control system market.
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To enable an in-depth understanding of the competitive
landscape, the report includes the profiles of some of the top players in the valve remote control system market. The
key players include Emerson (US), Rotork (UK), Wartsila (Finland), KSB
(Germany), and Nordic (Singapore). The leading players are adopting various
strategies to increase their share in the valve remote control system market.
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