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The market for valve remote control systems is anticipated to reach USD 8.52 billion by 2030, growing at a CAGR of 7.88% over that time.
Systems for remotely controlling valves are crucial to the marine, oil, and gas industries. It is a machine that can be powered by electricity, hydraulic oil pressure, or pneumatic pressure. The technology achieves remote centralised control and uses a control panel to show the location of the valves in the piping system. The valve remote-control system is created using a modular, cost-effective architecture that enables great customization and performance across various industries. The market is expected to rise at a significant rate due to the rising need for predictive and autonomous maintenance in the chemical and pharmaceutical industries. Among other things, these control systems have actuators, distribution control, power sources, control stations, and valves. Through straightforward remote control, they assist in effectively maintaining the air supply and the vessel's smooth functioning.
The market demand for these systems rises as a result of their low labour costs and ease of maintenance. due to the rise in electricity generation, rising petrochemical and chemical infrastructure investments, and rising manufacturing demand for automation and preventative maintenance. Additionally, this tendency can be linked to a number of causes, including the expanding use of automation across all industries, the growth of maritime trade and oil production, and the manufacturing sector's ongoing improvement.
To stop the Coronavirus from spreading, the government of various nations throughout the world has implemented stringent lockdowns. Many international development initiatives and industry activities have either slowed down or been stopped as a result of delays brought on by supply chain, logistics, and related disruptions. The COVID-19 epidemic has caused the suspension of a number of projects in end-user sectors, which has had a negative effect on the market for remote control valve systems.
The marine sector is quickly adopting automation to efficiently manage and monitor diverse operations. In addition, remote control valve systems aid in preventing accidents in the offshore hydrocarbon sector, which is particularly vulnerable to them because of the harsh surroundings. Due to the vital role these systems play in the petrochemical and chemical industries, the market is anticipated to expand soon. The large capital requirement, however, might limit the market's expansion.
Due to the substantial capital expenditure needed, many businesses are looking for affordable ways to deter market investment. Since the oil and gas industry is prone to mishaps, remote control valve systems are commonly used in this sector. This monitors the valves to prevent accidents and malfunctions. As a result, the cost of installing this valve in the oil and gas sector limits demand in that sector.
Automation used to monitor and manage activities in the marine industry will probably rise, stimulating the market. The offshore hydrocarbon sector will see fewer mishaps due to severe surroundings with the help of a remote valve control system. This solution will make the workplace safer for employees and reduce accidents. The importance of a remote valve control system in the chemical and petrochemical sectors is another factor that will likely contribute to market expansion.
Report Coverage
Global Valve Remote Control System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Valve Remote Control System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Valve Remote Control System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Valve Remote Control System market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Valve Remote Control System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Valve Remote Control System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Honeywell (US), Emerson (US), Wartsila (Finland), KSB (Germany), Nordic Group (Singapore), Danuni Marine (Denmark), Rotork (UK), Cyclotech (Singapore), and Scana (Norway)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Valve Remote Control System market based on the below-mentioned segments:
Global Valve Remote Control System Market, By Type
Hydraulic
Pneumatic
Electric
Electro-Hydraulic
Global Valve Remote Control System market, By Application
Marine
Offshore
Others
Global Valve Remote Control System market, Regional Analysis
Systems for remotely controlling valves are crucial to the marine, oil, and gas industries. It is a machine that can be powered by electricity, hydraulic oil pressure, or pneumatic pressure. The technology achieves remote centralised control and uses a control panel to show the location of the valves in the piping system. The valve remote-control system is created using a modular, cost-effective architecture that enables great customization and performance across various industries. The market is expected to rise at a significant rate due to the rising need for predictive and autonomous maintenance in the chemical and pharmaceutical industries. Among other things, these control systems have actuators, distribution control, power sources, control stations, and valves. Through straightforward remote control, they assist in effectively maintaining the air supply and the vessel's smooth functioning.
The market demand for these systems rises as a result of their low labour costs and ease of maintenance. due to the rise in electricity generation, rising petrochemical and chemical infrastructure investments, and rising manufacturing demand for automation and preventative maintenance. Additionally, this tendency can be linked to a number of causes, including the expanding use of automation across all industries, the growth of maritime trade and oil production, and the manufacturing sector's ongoing improvement.
To stop the Coronavirus from spreading, the government of various nations throughout the world has implemented stringent lockdowns. Many international development initiatives and industry activities have either slowed down or been stopped as a result of delays brought on by supply chain, logistics, and related disruptions. The COVID-19 epidemic has caused the suspension of a number of projects in end-user sectors, which has had a negative effect on the market for remote control valve systems.
The marine sector is quickly adopting automation to efficiently manage and monitor diverse operations. In addition, remote control valve systems aid in preventing accidents in the offshore hydrocarbon sector, which is particularly vulnerable to them because of the harsh surroundings. Due to the vital role these systems play in the petrochemical and chemical industries, the market is anticipated to expand soon. The large capital requirement, however, might limit the market's expansion.
Due to the substantial capital expenditure needed, many businesses are looking for affordable ways to deter market investment. Since the oil and gas industry is prone to mishaps, remote control valve systems are commonly used in this sector. This monitors the valves to prevent accidents and malfunctions. As a result, the cost of installing this valve in the oil and gas sector limits demand in that sector.
Automation used to monitor and manage activities in the marine industry will probably rise, stimulating the market. The offshore hydrocarbon sector will see fewer mishaps due to severe surroundings with the help of a remote valve control system. This solution will make the workplace safer for employees and reduce accidents. The importance of a remote valve control system in the chemical and petrochemical sectors is another factor that will likely contribute to market expansion.
Report Coverage
Global Valve Remote Control System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Valve Remote Control System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Valve Remote Control System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Valve Remote Control System market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Honeywell (US), Emerson (US), Wartsila (Finland), KSB (Germany), Nordic Group (Singapore), Danuni Marine (Denmark), Rotork (UK), Cyclotech (Singapore), and Scana (Norway) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Valve Remote Control System Market from 2021 to 2030.
- Market Forecast for Valve Remote Control System Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Valve Remote Control System competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Valve Remote Control System
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Valve Remote Control System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Valve Remote Control System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Honeywell (US), Emerson (US), Wartsila (Finland), KSB (Germany), Nordic Group (Singapore), Danuni Marine (Denmark), Rotork (UK), Cyclotech (Singapore), and Scana (Norway)
Primary Target Market
- Market Players of Valve Remote Control System
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Valve Remote Control System market based on the below-mentioned segments:
Global Valve Remote Control System Market, By Type
Hydraulic
Pneumatic
Electric
Electro-Hydraulic
Global Valve Remote Control System market, By Application
Marine
Offshore
Others
Global Valve Remote Control System market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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