Press release
Valve Remote Control Systems Market Is Likely to Grow At 6.5% CAGR from 2019 to 2024 | | Top Leaders: Emerson, Honeywell, Scana, KSB, Wartsila, Danuni Marine, Nordic Group, Cyclotech, and Rotork
Market Research Future has conducted a detailed study on the global valve remote control system. The study reveals that by 2024, the market size is expected to be valued at USD 8.5 billion. The market is likely to grow at an approximate CAGR of 6.5% from 2019 to 2024. The surging demand for industrial valves from oil & gas sector is anticipated to propel the valve remote control system market over the assessment period.
Valve remote control systems are extensively applied in managing the valves in different applications in end-use verticals, such as oil & gas, piping, and marine. These are centralized systems that are incorporated to control the closing and opening of remotely mounted valve actuators. They consist of valves, control cabinet, power sources, actuators, control station, associated accessories, and distribution component.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/7926
The worldwide valve remote control system market is predicted to expand substantially over the review period, owing to the growing adoption of automation across the different verticals. The rapidly spurring manufacturing sector is also likely to drive the global valve remote control system market. Furthermore, the surge in oil production activities coupled with the increasing offshore energy and power activities across the world rises the demand for valve remote control systems.
Market Segmentation
The global valve remote control system market is segmented based on valve type, type, region, and application.
Based on type, the market is categorized into pneumatic, hydraulic, electro-hydraulic, and electric. The pneumatic segment is anticipated to represent the primary share over the forecast period as the valve remote control system plays a significant role in diverting the constricted air to pneumatic actuators, leading to surging demand for associated valve to close/ open system. Hydraulic is estimated to be the second largest segment in valve remote control system market owing to the growing application of pressure control valve in different verticals.
Based on application, the market is segmented into offshore, marine, and others. The offshore segment is projected to record the highest growth rate over the assessment period.
Regional Analysis
Geographically, North America market represented the largest share of the global valve remote control system demand in 2018. The market in North America is expected to be primarily driven by the development in oil production and increasing demand for remotely operated valves in economies such as Canada and US. The International Energy Agency (IEA) stated in their findings that the US is expected to observe a surged demand for oil between 2018 and 2023 owing to the increasing oil production.
The Ministry of Energy and Mineral Resources of the Republic of Indonesia revealed that the outlay in oil and gas production operations attained USD 120 billion in 2017, which has expanded the need for valve remote control systems in the economy. Furthermore, Europe is also a significant market for valve remote control systems in the oil & gas sector. For example, the Norwegian Petroleum Directorate announced that in July 2018, 20 new development projects have been sanctioned in North Sea basin. Operation on these sites are likely to begin by April 2020. This is anticipated to develop the demand for valve remote control systems in Norway.
It is likely that Middle East & Africa region would be experiencing the swiftest development over the review period. All the economies in the region are spurring their oil production capacity. Saudi Arabia, Oman, and The UAE are investing severely in their offshore projects. Nigeria, South Africa, and Algeria are also highlighting on oil production to meet the surging energy demand for oil and gas. This is anticipated to drive the growth of the global valve remote control system market.
Key Players
Global valve remote control systems market is dominated by key players such as Emerson (US), Honeywell (US), Scana (Norway), KSB (Germany), Wartsila (Finland), Danuni Marine (Denmark), Nordic Group (Singapore), Cyclotech (Singapore), and Rotork (UK).
Access Complete Valve Remote Control Systems Market Report at: https://www.marketresearchfuture.com/reports/valve-remote-control-system-market-7926
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Valve Remote Control Systems Market Is Likely to Grow At 6.5% CAGR from 2019 to 2024 | | Top Leaders: Emerson, Honeywell, Scana, KSB, Wartsila, Danuni Marine, Nordic Group, Cyclotech, and Rotork here
News-ID: 2096097 • Views: …
More Releases from Market Research Future
Humanoid Robots Market Size to Reach USD 13.8 Billion by 2032, Growing at 50.2% …
The global Humanoid Robots Market is projected to reach USD 13.8 Billion by 2032, growing at a robust CAGR of 50.2% during the forecast period from 2024 to 2032.
Driven by advancements in artificial intelligence, machine learning, and machine vision, humanoid robots-designed with human-like characteristics-are witnessing widespread adoption across healthcare, education, space exploration, and service industries. These robots are enhancing operational efficiency, performing complex tasks, and improving customer engagement across multiple…
Vertical Farming Market Expansion: USD 9.023 Billion in 2025 Growing to USD 58.8 …
The Vertical Farming Market was estimated at USD 7.48 Billion in 2024 and is projected to grow from USD 9.023 Billion in 2025 to USD 58.83 Billion by 2035, exhibiting a robust CAGR of 20.62% during the forecast period from 2025 to 2035.
Driven by increasing demand for sustainable agriculture, urbanization, and technological advancements in controlled-environment farming, vertical farming solutions are seeing widespread adoption across commercial, industrial, and urban agriculture sectors.
Key…
Robotics Market Trends and Forecast: USD 74,120.70 Million in 2024 Expected to H …
The Robotics Market was valued at USD 74,120.70 Million in 2024 and is projected to reach USD 476,019.67 Million by 2035, growing at a robust CAGR of 18.4% during the forecast period from 2024 to 2035.
Driven by advancements in medical robots, growing industrial robotics adoption, and the development of AI technologies, robotics solutions are witnessing widespread adoption across healthcare, manufacturing, logistics, and service sectors. Despite challenges like high initial costs…
SCADA Market Size to Reach USD 27,584.34 Million by 2035, Growing from USD 12,01 …
The global SCADA (Supervisory Control and Data Acquisition) market was valued at USD 12,010.23 million in 2024 and is projected to reach USD 27,584.34 million by 2035, growing at a CAGR of 7.85% during the forecast period from 2025 to 2035.
Driven by the rise of smart buildings, rapid urbanization in developing economies, and increased adoption of IoT and AI technologies in manufacturing, SCADA systems are witnessing extensive deployment across industrial,…
More Releases for Valve
Australian Pressure Safety Valve Market by Offering (Safety Valve and Safety Val …
The availability of abundant natural resources, such as petroleum and shale gas, in Australia is expected to provide profitable opportunities for the Australia pressure safety valve market. Moreover, the government‐™s initiative to encourage offshore exploration of minerals deposits could further boost the business opportunities for market players in Australia. The presence of a wide oil & gas distribution network continues to provide a steady stream of revenue to market players;…
Control Valve Market by Region - North America, Latin America, Europe, Japan, AP …
Increasing penetration of automation across several industrial verticals has fuelled the demand for components that regulate pressure, temperature and other elements effectively. Manufacturers are advancing their capabilities in developing control valves for the future industrial demands. New designs are being incorporated to increase the efficiency of control valves in enabling a direct control of the flow rate, and in processing the information on liquid level, temperature and pressure.
According to Fact.MR’s…
Australian Pressure Safety Valve Market by Offering (Safety Valve and Safety Val …
Australian pressure safety valve market size is expected to reach $65.38 million by 2025 from $52.12 million in 2017, growing at a CAGR of 2.88% during the forecast period (2018–2025). Pressure safety valves (pressure relief valves) are specially designed valves that regulate the surge in pressure within the pressure systems, which otherwise could hinder industrial processes. The valves have outlets that guide the additional flow of fluids or gases, which…
Control Valve Market Analysis Report by Region - North America, Latin America, E …
Fact.MRs’ latest forecast study assesses that the global control valve market will expand steadily during the forecast period, 2017-2026. Increasing industrialization and growing use of pneumatics in mechanical processes will drive the adoption of control valves to a considerable extent. The global control valve market will register expansion at a 5.4% CAGR in terms of volume over, the forecast period. By the end of 2026, control valves worth over US$ 15.5 Bn…
Bleed Valve Market 2017-Eaton, Weir Group, KSB, Mahle, Mogas, Alfa Laval, Nihon …
Apex Research, recently published a detailed market research study focused on the "Bleed Valve Market" across the global, regional and country level. The report provides 360° analysis of "Bleed Valve Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Bleed Valve industry, and estimates the future trend of Bleed Valve market…
Global Plug Valves Market: Yuandong Valve, Yuanda Valve, Weir, Walworth, Zhengqu …
Global Market Study Evaluate on Plug Valves Industry by Type, Manufacturers, Application, Type, and Regions, Forecast up to 2022
The scope of the global Plug Valves market report is:
This report offers a comprehensive evaluation of the Plug Valves market. It does so by in-depth qualitative insights, historical Plug Valves market data, and verifiable projections about global Plug Valves market size. The projections featured in the Plug Valves market report have been…
