According to the new market research "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.
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.
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"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132530162
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.
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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Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsleter@marketsandmarkets.com
