Global Industrial Thermostatic Control Valves Market 2017-2021
About Industrial Thermostatic Control Valves
Industrial control valves are used for modulating the flow of fluid at varying degrees between minimal flow and full capacity after receiving a signal from the controllers. Control valves are considered as the critical part of any control loop, as they perform physical work by directly affecting the process parameter. Control valves further provide direct control between flow rate and the process quantities, such as pressure, temperature, and liquid level in a variety of industrial applications. In recent times, the use of overall control valves is shooting up due to the large implementation of automation in the manufacturing sectors.
Technavio’s analysts forecast the global industrial thermostatic control valves market to grow at a CAGR of 5.20% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial thermostatic control valves market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Thermostatic Control Valves Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial thermostatic control valves market: AMOT, Danfoss, Fluid Power Energy, Fushiman, and Metrex Valve.
Other Prominent Vendors in the market are: Dwyer Instruments, Huegli Tech, MVA, Watson McDaniel, Armstrong, and Honeywell.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emerging demand for smart industrial thermostatic control valves. Diagnostics and smart technology are the two emerging concepts that can significantly contribute to the growth of the industrial thermostatic market. The requirement for smart valves is abundant due to large sets of benefits. In broad spectrum, smart valves monitor a wide range of process variables, such as upstream and downstream pressure, temperature, stem position, and flow rate.”
According to the report, one driver in market is growing electric power generation in APAC. The power generation plants are substantially growing in APAC due to aggressive government investment and rising urbanization. China has been witnessing huge investments in renewable energy for last few years. Industrial thermostatic valves, being widely used in power plants, are likely to see stupendous growth due to these fresh investments in China. The growing trend of the Chinese economy, especially in the manufacturing sector, has faced an intense challenge in terms of meeting the power demand, further increasing the probability of the expansion in the power infrastructure, in China. Similarly, in India, several projects are being undertaken to adopt renewable energy as the primary source.
Further, the report states that one challenges in market is fluctuating raw material price. Industrial thermostatic control valves are composed of materials that possess the capability to meet demanding environmental requirements. Typically, raw materials that are used to manufacture industrial valves include stainless steel, hardened steel, cast iron, brass, bronze, and aluminum. These materials because of their high melting point and ruggedness are ideally suitable for multiple end-user applications. However, the cost of these raw materials is highly fluctuating in the international market. As discussed earlier, most of these fluctuations happen due to variations in the global economy and business conditions, such as inflation, availability, and production. Thus, small manufacturers find themselves incapable of coping up with such instability in raw material pricing and hence lose out on their market share to bigger vendors.
AMOT, Danfoss, Fluid Power Energy, Fushiman, Metrex Valve, Dwyer Instruments, Huegli Tech, MVA, Watson McDaniel, Armstrong, and Honeywell.
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