LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global valves and actuators market in the water and wastewater industry predicts a CAGR of around 8% during the period 2018-2022.
The report segments the global valves and actuators market in water and wastewater industry by product (quarter-turn valves, multi-turn valves, actuators, and control valves), by technology (hardware, software, and services), application (primary treatment, secondary treatment, and tertiary treatment), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global valves and actuators market in water and wastewater industry, according to Technavio industrial automation researchers:
- Rising automation in the water and wastewater industry: a major market driver
- Proactive defect detection with the use of simulation software: a key market trend
- EMEA occupied almost 36% of the overall market share of the global valves and actuators market in water and wastewater industry in 2017
- Emerson Electric, Flowserve, Metso, Schlumberger, SMC, and The Weir Group are some of the players in the market
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Rising automation in the water and wastewater industry: a major market driver
Rising automation in the water and wastewater industry is one of the major factors driving the global valves and actuators market in water and wastewater industry. The necessity to increase the efficiency of various processes and enhancing the productivity has led to automation in every industry and the same statement is true for the water and wastewater industry. The increasing automation in the water and wastewater industry presents a perfect opportunity for the growth of the market.
According to a senior analyst at Technavio for research on automation, “Control valves are automated valves and require minimal operator interference. In addition, actuators act as sensors and perform accordingly to control the movement of the valves. The addition of control valves and actuators in the water and wastewater industry has reduced manual interference and enhanced safety of employees and pipelines. Thus, the increasing automation in the water and wastewater industry is expected to drive the volume sales of valves and actuators in the water and wastewater industry during the forecast period.”
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EMEA: largest valves and actuators market in the water and wastewater industry
The valves and actuators market in water and wastewater industry in EMEA occupied close to 36% of the overall market share in 2017. The vast pipeline network and the widespread water treatment industry in EMEA is a key reason for the high requirement of valves and actuators in the region. The valves and actuators market in water and wastewater industry in the Americas occupied the second position in terms of market share contribution in 2017. The market share of the Americas in the valves and actuators market in water and wastewater industry is expected to come down due to the matured market in developed countries. It was followed by the valves and actuators market in water and wastewater industry in APAC. This region is expected to witness the fastest growth in the global market during the forecast period.
Proactive defect detection with the use of simulation software: a key market trend
The common defect detection in valves, including radiographic testing or ultrasonic testing, is not efficient in detecting microscopic defects. Pressure testing qualifies as a better method for defect identification. But, it is not a guarantee of fool-proof defect detection of valves. The cost associated with the above-mentioned detection processes is exorbitant, and they do not provide a clear picture of what caused the defect. Casting process simulation serves as a substitute for the shortcomings of regular defect detection processes. This method uses computer-aided design with numerical models to determine the defects in a valve. This method has proven to be cost-effective and an efficient way of detecting defects.
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