Market Challenges And Opportunities

Integration of diagnostic functions to monitor the performance and efficiency of motorized control valves has witnessed high adoption in industries to improve the plant production output

Utilization of these diagnostic functions helps in accessing information from plant parameters that helps in important decision making for the improvement of plant output efficiency. Industrial applications that include chemical and oil & gas that require enhanced safety and monitoring to prevent losses and meet the production demand are expected to drive the motorized control valves market growth.

Oil & Gas dominated the end-use industry segment in 2016 and is expected to continue its dominance over the next few years

Owing to the increasing deployment of motorized control valves to measure and monitor the oil & gas flow, oil & gas is expected to remain the most attractive end-use industry over the next few years. According to The World Bank, over 54% of the global population resides in urban area, which is expected to witness significant growth over the next decade. This in turn will lead to considerable growth in demand for portable water and wastewater treatment plants, which is estimated to bolster the motorized control valves market growth over the forecast period. Developing economies that project high urbanization rate, specifically China, India, Indonesia, Brazil, Russia, and Mexico, are expected to create significant demand for motorized control valves.

Butterfly valves dominated the overall industry share by product owing to lightweight, high efficiency, and application of these components in chemicals, water and wastewater treatment, and F&B industries