New York, NY, June 24, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Valve Remote Control System Market by Type (Pneumatic, Electric, Hydraulic, and Electro-Hydraulic), by Valve Type (Ball Valve, Diaphragm Valve, Butterfly Valve, Globe Valve, Gate Valve, Plug Valve, Check Valve, and Safety Valve), and by Application (Marine, Offshore, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global valve remote control system market was USD 6.4 billion in 2018 and is expected to reach USD 8.89 billion by 2025, at a CAGR of 4.8% between 2019 and 2025.
Valve remote control systems are key systems that remotely control positioned valve actuators via open and close operation processes. These devices are used across various industries for valve management in piping, marine, oil and gas, and other industrial applications. Rapid developments in technology, flourishing oil, and gas sector, increasing demand for industrial valves by the oil and gas industry, and rising need for predictive maintenance and automation from manufacturing industries are prime factors fueling the global valve remote control system market growth. The rising demand for maritime trade activities to meet the continually increasing need for rapid industrialization and the ever-increasing global population is also anticipated to drive the global valve remote control system over the forecast time period.
Browse through 105 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Valve Remote Control System Market: By Valve Type, Size, Industry Share, Demand, Growth, Analysis and Forecast, 2018–2025”.
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Additionally, the rising investments made in the oil and gas industry for exploration activities are expected to further propel this market in the upcoming years. However, huge initial investments for valve remote control systems installation may limit the valve remote control system market globally. Alternatively, the rising number of refineries and petrochemical plants in developing countries is projected to offer additional growth opportunities to the major market players.
The global valve remote control system market is categorized into type, valve type, and application. On the basis of type, the global valve remote control system market is segmented into pneumatic, electric, hydraulic, and electro-hydraulic. In 2018, the pneumatic segment showed the fastest growth and held a significant market share. Based on valve type, the global valve remote control system market includes ball valve, diaphragm valve, butterfly valve, globe valve, gate valve, plug valve, check valve, and safety valve. The butterfly valve segment held a major share of the global market in 2018. The application segment of the global valve remote control system market includes marine, offshore, and others. In 2018, the offshore segment dominated the global valve remote control system market.
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In 2018, the Middle East and Africa dominated the market for valve remote control system globally. This growth was mainly attributed to rising oil production and the growing crude oil export activities across the region. The region is witnessing a huge demand for electricity. Kuwait, Oman, Saudi Arabia, and the UAE are investing in marine and offshore end-user industries. In 2018, Saudi Arabia was the leading market in the region and accounted for a major share of the valve remote control system market. Saudi Arabia is anticipated to have a maximum production capacity over the forecast period. The UAE, Oman, Kuwait, Iran, Iraq, and Saudi Arabia are investing in their offshore developments. Angola, Algeria, and Nigeria are also focusing on oil and gas production to meet their growing energy demand.
Europe held the second spot in the global valve remote control system market in 2018, due to the rising offshore production activities for natural gas and increasing investments in natural gas exploration. Swift industrial growth and growing electricity production are leading to increased investments in the offshore and oil and gas industry, which is further driving the European valve remote control system market.
Browse the full “Valve Remote Control System Market by Type (Pneumatic, Electric, Hydraulic, and Electro-Hydraulic), by Valve Type (Ball Valve, Diaphragm Valve, Butterfly Valve, Globe Valve, Gate Valve, Plug Valve, Check Valve, and Safety Valve), and by Application (Marine, Offshore, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/valve-remote-control-system-market
The Asia Pacific is anticipated to register the highest CAGR in the global valve remote control system market over the next few years, owing to the flourishing power industry, rising urbanization, and swift industrialization across the region. India and China are rapidly growing markets for valve remote control system in the Asia Pacific, due to the increasing power demand for automation from manufacturing industries. The rising exploration of onshore and offshore activities is also anticipated to fuel this market in Malaysia, India, and China in the future
The North American valve remote control system market is observing sufficient growth opportunities, owing to the rising manufacture of shale gas and oil sands and increasing investments made in refineries and natural gas exploration activities. The U.S. is the main market for valve remote control system and is likely to hold a major share of the regional market in the upcoming years. Efficient research base and supportive government policy changes have contributed to the increased use of modern technologies and further fuel the region’s valve remote control system market.
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Latin America is anticipated to experience the moderate growth in the valve remote control system over the forecast time period, owing to the significant investments made by international companies for valve remote control system projects in the regions.
The major players of the global valve remote control system market are Emerson Electric, Rotork, KSB Korea, Wärtsilä, Nordic Group, DanUni Marine & Offshore, Honeywell, Cyclotech, Nakakita Seisakusho, Selma, and Greatec Marine.
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This report segments the global valve remote control system market into:
Global Valve Remote Control System Market: Type Analysis
- Pneumatic
- Electric
- Hydraulic
- Electro-Hydraulic
Global Valve Remote Control System Market: Valve Type Analysis
- Ball Valve
- Diaphragm Valve
- Butterfly Valve
- Globe Valve
- Gate Valve
- Plug Valve
- Check Valve
- Safety Valve
Global Valve Remote Control System Market: Application Analysis
- Marine
- Offshore
- Others
Global Valve Remote Control System Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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