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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