Valve Remote Control System Market: Outlook
Valve remote control systems are industry wide used systems for valve management in marine, oil & gas, piping and other applications. It is a centralized system used to control the closing and opening of remotely mounted valve actuators. A Valve Remote Control System is made up of control cabinet, actuators, valves, power sources and distribution module, control station and various other necessary accessories. The whole system enables efficient operation of piping, vessels and other systems and significantly reduces the cost of labor and maintenance, as the whole operation can be carried out from a remote control station. A Valve Remote Control System can be classified into four different types on the basis of power source adopted: pneumatic, hydraulic, electro-hydraulic and electric. The hydraulic control system uses pressurized hydraulic oil as its power source, while pneumatic control system uses compressed air supply to power the control system. Electric and electro-hydraulic type Valve Remote Control System uses electricity to operate.
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Valve Remote Control System Market: Driver
Valve Remote Control System market is pegged to witness a significant demand due to the rise adoption of automation across industries. The steady growth in the end use industries like oil & gas and manufacturing is also expected to augment the growth of Valve Remote Control System market. Improving operation efficiency and predictive maintenance among various manufacturing industries is one of the key factors driving the demand for Valve Remote Control System market in end use industries. Growing sea-borne trade activities to meet the ever growing demands of growing population and industrialization across key developing countries will play a key role in the growth of Valve Remote Control System market. Increasing investments in offshore oil & gas exploration activities is expected contribute towards the growth of the target market as well. Owing to all these factors, the target market is expected to witness a robust growth rate over the forecast period.
Valve Remote Control System Market: Segmentation
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Valve Remote Control System Market: Regional Outlook
Middle East & Africa is pegged to contribute towards majority of the demand for Valve Remote Control System market, owing to the large oil & gas exports from the region and the presence of one of the busiest sea-borne trade routes in the region. Asia-Pacific on the other hand is expected to register a high growth rate in terms of CAGR in the Valve Remote Control System market, owing to the growing imports by sea and the rise of manufacturing industries in countries like China and India. U.K. and other North Sea countries are also projected to play an important role in the Valve Remote Control System market due to the rising oil & gas offshore exploration in the North Sea.
Valve Remote Control System Market: Key Players
Some of the key market participants identified in the Valve Remote Control System market across the globe are:
- Emerson Electric Co.
- KSB Korea Ltd
- Rotork
- Nordic Group Limited
- Wärtsilä
- Honeywell
- DanUni Marine & Offshore A/S
- Nakakita Seisakusho Co. Ltd.
- Cyclotech
- GREATEC MARINE CO., LIMITED
- Selma
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