LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global motorized control valves market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Bharath Kanniappan, a lead analyst from Technavio, specializing in research on automation sector says, “The increasing awareness among end-user industries about how the implementation of automation helps in increasing efficiency and reducing downtime has led to the modernization of existing facilities. Such decisions taken by industries will create demand for motorized control valves.”
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The top three emerging market trends driving the global motorized control valves market according to Technavio research analysts are:
- Increasing use of simulation software
- Rising deployment of valve diagnostic functions to improve efficiency of plant
- Growing demand for smart valves
Increasing use of simulation software
In the current scenario of reducing operational expenses, vendors are continuously focusing on minimizing the time and cost involved in product development. Simulation software aids in virtual prototyping of new designs without any additional expense to the vendors. This process has enhanced the delivery of exact customization requirements to end-user sectors without any additional prototyping expenses. Overall, the implementation of simulation software in product development and testing phase will also decrease the overall product development time, thereby decreasing the operational expense for the vendors.
“Usually, the manufacturing process of a new valve type takes weeks. However, with the help of three-dimensional simulations the designing and manufacturing of prototypes takes 30% less time than the traditional method. This software also helps in design functionalities and minimizes the physical testing and the associated cost with it, which is a positive development for the growth of the motorized control valves market,” says Bharath.
Rising deployment of valve diagnostic functions to improve efficiency of plant
Valve diagnostic functions help in improving the efficiency by analyzing the plant efficiency, safety and quality. Motorized control valves are very widely used in flow regulation and control of liquids and gases in pipelines. It is very important for the end-users to use diagnostic technologies to find out the performance and to monitor the valve performance. This even lets the user collect vital information which can be used to take necessary decisions.
Growing demand for smart valves
Smart valves are mainly used in the oil and gas industry. These valves are equipped with intelligent control systems and embedded processors. They offer with networking capability and provide monitoring functions with the help of a central control station. The demand for smart valves is expected to increase during the forecast period. This is because they provide actionable solutions for preventive maintenance with minimal configuration requirements.
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