Valve remote control system market is expected to grow at USD 12.7 Billion 6.88 % CAGR during the forecast period.
Valve remote control system market is designed to manage the movement of the valves through a centralized system. The valve remote control system offers various advantages including efficient operations of industrial systems and reduction of maintenance and labor costs. The rising automation in industrial processes is expected to boost the demand for this system as it helps in predictive maintenance, especially in manufacturing industries.
Based on application, the global market is segmented as marine, offshore, and others. The offshore segment is estimated to dominate the market during the forecast period due to the high demand for industrial valves in oil and gas production. Based on type, the global market is segmented into hydraulic, pneumatic, electric, and electro-hydraulic.
The global valve remote control system market is expected to grow at 6.50% CAGR during the forecast period.
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- Emerson (US)
- Honeywell (US)
- Wartsila (Finland)
- Danuni Marine (Denmark)
- KSB (Germany)
- Nordic Group (Singapore)
- Rotork (UK)
- Cyclotech (Singapore)
- Scana (Norway).
Region-wise, in 2018, North America held the largest market share of the global Valve Remote Control System Market Size. It is estimated that Middle East & Africa region would be the fastest growing market during the forecast period. Almost all the countries in the region are increasing their oil production capacity. The UAE, Saudi Arabia, and Oman are investing heavily in their offshore projects. Algeria, Nigeria, and South Africa are also emphasizing on oil production to meet the increasing energy demand for oil and gas. This is expected to drive the growth of the global valve remote control system market. The valve remote control system market in North America is expected to be primarily driven by the growth in oil production and rising need for remotely operated valves in countries such as US and Canada. The demand from the onshore and offshore fields in the Gulf of Mexico is also expected to positively impact the valve remote control system market during the forecast period.
GLOBAL VALVE REMOTE CONTROL SYSTEM MARKET 2019–2024
Scope of the Report
This report provides an in-depth analysis of the global valve remote control system market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, the Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global valve remote control system market by its connectivity, type, valve type, application, and region.
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- By Type
- By Valve Type
- By Application
- By Regions
- North America
- Middle East & Africa
- South Americ
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