The Global Valve Remote Control System market is expected to see growth in the next few years.
According to Yahoo Finance:
Global valve remote control system market is expected to grow at a significant rate in the forecast period, 2022-2026.
The rising population around the globe is generating the need for more energy generation and transmission. The increase in power generation by the installation of new plants and the growing adoption of green energy is expected to influence the demand for global valve remote control system market.
The surge in the investment for the development of the petrochemical and chemical industry and the growing applications of end products obtained from the petrochemical industries is expected to fuel the growth of the valve control system market in the next five years.
An increase in the number of oil & gas reserves around the globe and the production of shale gas fuels and the oil sands is expected to accelerate the demand for valve remote control systems. High-end investments for the extraction of natural gas due to its growing use in the automotive, energy industry, and as a chemical feedstock in the manufacturing of chemicals is fostering the growth of the natural gas, which in turn is expected to boost the valve remote control system market growth.
The surge in demand for predictive maintenance from the manufacturing industries and the growing demand for automation technology to enhance the convenience of the market players in the marine industry is expected to fuel the market growth.
The global valve remote control system market is segmented into type, valve type, end user, regional distribution, and company. Based on regional analysis, the Middle East & Africa region is expected to account for major market share in the forecast period, 2022-2026. The presence of the major oil-producing countries including UAE, Saudi Arabia, Iraq in the region is driving the growth of this segment.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
- To analyze the historical growth in the market size of global valve remote control system market from 2016 to 2020.
- To estimate and forecast the market size of global valve remote control system market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the global valve remote control system market based on type, valve type, end user, regional distribution, and company.
- To identify dominant region or segment in the global valve remote control system market.
- To identify drivers and challenges for global valve remote control system market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global valve remote control system market.
- To identify and analyze the profile of leading players operating in global valve remote control system market.
- To identify key sustainable strategies adopted by market players in global valve remote control system market.
The major players operating in the global valve remote control system market are
- Emerson Electric Co.
- Nordic Group Limited
- KSB Korea Ltd
- Rotork plc
- Wartsila Corporation
- Danuni Marine & Offshore A/S
- Nakakita Seisakusho Co. Ltd.
- Greatech Technology
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021E
- Forecast Period: 2022F-2026F
Global Valve Remote Control System Market, By Type
Global Valve Remote Control System Market, By Valve Type
Global Valve Remote Control System Market, By End User
- Power Generation
- Chemicals & Petrochemical
- Oil & Gas
Global Valve Remote Control System Market, By Region
- North America
- United States
- South Korea
- United Kingdom
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa