The valve remote control systems market is likely to soar at 6.7 % CAGR between 2023 and 2033, says Future Market Insights (FMI). Sales are estimated to exceed US$ 7.9 billion in 2023 and a further US$ 15.1 billion by the end of 2033. The market for valve remote control systems reached US$ 7.4 billion in 2022.
The valve remote control systems industry is experiencing rapid growth, driven by a range of factors. One of the key drivers is the increasing demand for industrial automation across several sectors. With the increasing automation in industries, there is a growing need for safety and oversight, leading to an increase in demand for valve remote control systems.
Another important factor driving the growth of the valve remote control systems industry is the rising investments in the oil & gas and power sectors. As the energy demand continues to grow globally, these industries are investing heavily in infrastructure and equipment, including valve remote control systems.
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Technological advancements are also playing a key role in the growth of the valve remote control systems industry. With the development of advanced technology, such as wireless valve control systems and intelligent valve actuators, the efficiency and reliability of valve control systems have increased significantly, leading to a surge in demand for valve remote control systems.
The emergence of smart valve remote control systems has revolutionized the way industries manage their valve systems. These systems are capable of monitoring valve conditions and controlling them remotely, making it easy to maintain and repair valves without interrupting the industrial processes. As a result, the demand for smart valve remote control systems is on the rise.
Compliance with safety and environmental regulations has become a critical factor in the valve remote control systems market. Manufacturers are developing systems with enhanced safety features, such as fail-safe mechanisms, emergency shutdown capabilities, and remote monitoring for proactive maintenance and risk mitigation.
Valve remote control systems are being designed to optimize energy usage by implementing smart control algorithms, variable speed drives, and energy-efficient components. This trend aims to reduce energy consumption and operational costs.
Key Takeaways from the Thin Wafer Market Report:
- The market for valve remote control systems is forecast to expand at7% CAGR from 2023 to 2033.
- The United States market is expected to reach a total of US$ 2.6 billion by 2033.
- The United Kingdom is set to witness a sum of US$ 592 million by the end of 2033.
- In terms of type, pneumatic division is projected to soar at 4% CAGR during the projection period between 2023 and 2033.
- By application, off-shore segment dominates the valve remote control systems industry, and sales are projected to grow at 2% CAGR from 2023 to 2033.
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Who is Winning?
Key manufacturers often pursue global expansion to tap into new markets and increase their customer base. They establish subsidiaries, manufacturing facilities, or strategic partnerships in key regions to cater to local demand, comply with regulations, and reduce logistical challenges.
Key manufacturers prioritize quality assurance and compliance with international standards. They obtain relevant certifications to demonstrate product reliability, safety, and performance, which helps in building trust and attracting customers. They provide technical assistance, maintenance services, spare parts availability, and training programs. To ensure that their valve remote control systems continue to operate optimally throughout their lifecycle.
Recent developments:
- In December 2021, Kawasaki Heavy Industries, Ltd. revealed that the company has sold over 10 million PV Model pneumatic remote control valves (RCVs). Hydraulic RCVs were force-reducing valves that reduce secondary pressure dependent on lever angle and are used in excavators and mini excavators’ levers and travel pedals.
- In December 2019, Lockheed Martin and the United States Navy agreed to construct 4 multi-mission surface fighters for Saudi Arabia. The contract of US$ 1 billion calls for ships to be built at Fincantieri’s Marinette Marine shipyards in Wisconsin.
