DUBLIN--(BUSINESS WIRE)--The "Valve Remote Control System Market by Type (Hydraulic, Pneumatic, Electric, & Electro-Hydraulic), Application (Marine and Offshore), Valve Type (Ball, Globe, Butterfly, Gate, Diaphragm, Plug, Check, and Safety), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The valve remote control system market is projected to reach USD 8.0 billion by 2023 from an estimated USD 6.4 billion in 2018, at a CAGR of 4.73%.
This growth is primarily due to the increased demand for automation and predictive maintenance from manufacturing industries, and an increased need for industrial valves from the oil & gas industry. The high installation cost can act as a restraint for the valve remote control system market.
The butterfly valve segment is expected to grow at the highest CAGR from 2018 to 2023.
The butterfly valve segment is expected to grow at the highest CAGR from 2018 to 2023. The market is primarily driven by the rapid improvement in the power, oil & gas, and chemical sector. The equipment is mainly used by the core sector, power generation, offshore, chemical, petrochemical, and marine industries. It is used in various kinds of piping system vessels such as ballast water system, cargo piping system, and bunker ping system. Factors such as an increase in industrialization and urbanization; the discovery of new reserves in the Great Australian Bight, the Gulf of Thailand, Turkmenistan, and the South China Sea; and the need for enhanced oil recovery in Indonesia, India, and Australia are expected to drive the butterfly valve market in the region.
Middle East & Africa is the largest valve remote control system market from 2018 to 2023.
The Middle East & Africa is expected to account for the largest share of the valve remote control system market in 2018. This trend is projected to continue until 2023. It is the most populated region in the world and consequently witnesses a high demand for electricity. Countries such as Saudi Arabia, UAE, and Oman are investing in the offshore and marine industry. Saudi Arabia accounted for the largest share of the Middle East & Africa valve remote control system market in 2017 and is estimated to have the highest production capacity during the forecast period.
UAE, Saudi Arabia, and Oman are investing heavily in their offshore projects. Algeria, Nigeria, and Angola are also emphasizing on the oil & gas production to meet their increasing energy demand. This has led to a rise in investments in the power, oil & gas, and chemical sectors, which is expected to drive the growth of the Middle East & Africa valve remote control system market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Valve Remote Control System Market
4.2 Middle East & Africa Valve Remote Control System Market Size
4.3 Valve Remote Control System Market, By Country
4.4 Valve Remote Control System Market, By Type
4.5 Valve Remote Control System Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Remotely Operated Valves From Oil & Gas Production
5.2.1.2 High Demand for Automation and Predictive Maintenance From Manufacturing Industries
5.2.2 Restraints
5.2.2.1 Lack of Standardized Certifications and Government Policies
5.2.2.2 High Installation Cost
5.2.3 Opportunities
5.2.3.1 Increasing Number of Refineries and Petrochemical Plants
5.2.4 Challenges
5.2.4.1 Availability of Low Priced Products From Local Manufacturer
6 Valve Remote Control System Market, By Type
6.1 Introduction
6.2 Hydraulic
6.2.1 Rapid Development of Deepwater and Underwater Infrastructure
6.3 Pneumatic
6.3.1 Increasing Investment for Marine and Offshore Industry
6.4 Electric
6.4.1 Rising Focus on Development of Process Industry
6.5 Electro-Hydraulic
6.5.1 Increasing Investment in the Deepwater Horizon
7 Valve Remote Control System Market, By Valve Type
7.1 Introduction
7.2 Ball Valve
7.2.1 Rising Focus on Development of Power Transmission and Distribution
7.3 Globe Valve
7.3.1 Increasing Investment in the Water Industry
7.4 Butterfly Valve
7.4.1 Rising Investment in the Oil & Gas Industry
7.5 Gate Valve
7.5.1 Increasing Investments in the Energy Sector Across the World
7.6 Diaphragm Valve
7.6.1 Rising Demand for Deepwater Infrastructure
7.7 Plug Valve
7.7.1 Rapid Development of Petrochemical Infrastructure
7.8 Check Valve
7.8.1 Increase Development in the Chemical Industry Across the World
7.9 Safety Valve
7.9.1 Rising Development in Marine & Offshore Industries
8 Valve Remote Control System Market, By Application
8.1 Introduction
8.2 Marine
8.2.1 Rising Focus on Development of Drilling Platform
8.3 Offshore
8.3.1 Increasing Investment for Development of Offshore Industry
8.4 Others
8.4.1 Rising Demand for Petrochemical and Chemical Industry
9 Valve Remote Control System Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 By Type
9.2.2 By Application
9.2.3 By Valve
9.2.4 By Country
9.2.4.1 China
9.2.4.1.1 Increasing Development of Onshore and Offshore Activities is Expected to Drive the Market
9.2.4.2 India
9.2.4.2.1 Increasing Focus on the Growth of Oil & Gas Sector Would Drive the Market
9.2.4.3 Malaysia
9.2.4.3.1 Rising Development Offshore Activities is Expected to Drive the Market
9.2.4.4 Indonesia
9.2.4.4.1 Resurgence of Oil & Gas Industry is Expected to Drive the Market
9.2.4.5 Rest of Asia Pacific
9.3 North America
9.3.1 By Type
9.3.2 By Application
9.3.3 By Valve
9.3.4 By Country
9.3.4.1 US
9.3.4.1.1 Increasing Investment in Shale Gas Production is Expected to Drive the Market
9.3.4.2 Canada
9.3.4.2.1 Rising Number of Projects From Chemical, Petrochemical and Offshore Wind Which Demands Valve Remote Control
9.3.4.3 Mexico
9.3.4.3.1 Improving and Modernizing Power Plants Under Government's Reform
9.4 Europe
9.4.1 By Type
9.4.2 By Application
9.4.3 By Valve
9.4.4 By Country
9.4.4.1 Russia
9.4.4.1.1 Increasing Investment in Gas Production is Expected to Drive the Market
9.4.4.2 UK
9.4.4.2.1 Rising Development of Oil & Gas Infrastructure
9.4.4.3 Norway
9.4.4.3.1 Increasing E&P Activities in the Country are Expected to Drive the Market
9.4.4.4 Rest of Europe
9.5 South America
9.5.1 By Type
9.5.2 By Application
9.5.3 By Valve
9.5.4 By Country
9.5.4.1 Brazil
9.5.4.1.1 Huge Investment By Oil & Gas Companies in the Country Are Expected to Drive the Market
9.5.4.2 Argentina
9.5.4.2.1 Pneumatic Segment is Expected to Hold the Largest Share in the Country
9.5.4.3 Rest of South America
9.6 Middle East & Africa
9.6.1 By Type
9.6.2 By Application
9.6.3 By Valve
9.6.4 By Country
9.6.4.1 Saudi Arabia
9.6.4.1.1 Increasing Government Spending in Oil & Gas Industry is Expected to Drive the Valve Remote Control System Market
9.6.4.2 Oman
9.6.4.2.1 Rising Focus on Development of Oil Reserves
9.6.4.3 UAE
9.6.4.3.1 Abundant Oil Reserves in the Country are Expected to Drive the Valve Remote Control Market
9.6.4.4 Nigeria
9.6.4.4.1 Increasing Investment Downstream Activities is Expected to Drive the Valve Remote Control System Market
9.6.4.5 Angola
9.6.4.5.1 Rapid Development of Upstream and Downstream Activities is Expected to Drive the Valve Remote Control System Market
9.6.4.6 Algeria
9.6.4.6.1 Increasing Investment Upstream Activities is Expected to Drive the Valve Remote Control System Market
9.6.4.7 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players and Industry Concentration, 2017
10.3 Competitive Scenario
10.3.1 Contracts & Agreements
10.3.2 New Product Developments
10.3.3 Mergers & Acquisitions
10.4 Micro Quadrant Overview
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
11 Company Profiles
- BFG Marine
- Cyclotech
- Danuni Marine
- Emerson
- Greatec
- Jumho Electric
- KSB
- Nordic Group
- Rotork
- Scana
- Selma
- Wartsila
For more information about this report visit https://www.researchandmarkets.com/research/42x9sz/valve_remote?w=4
