Control Valve Shipments Continue Enjoying Strong Growth
This study is intended to serve as an effective planning guide for control valve, actuator, and positioner suppliers and new entrants to the business. Control valves regulate the rate of fluid flow as the position of the valve plug or disk is changed by an actuator. Control valves are used to maintain a process variable as close as possible to the desired set point.
Control valve shipments enjoyed another year of strong growth during 2012. Revenues and profits of the leading suppliers flourished, although at rates lower than that seen in 2011 following the market’s rebound from the effects of the global recession. Factors contributing to this growth include the constant pressure to improve performance in the process industries, investments in emerging economies for new projects, and modernization projects in developed regions designed to improve safety, reliability, sustainability, and process optimization. Ongoing oil & gas investments in developing regions, strong investments in shale gas and tar sands projects in North America, and a strong effort to increase downstream refining capabilities in the Middle East and China are some of the key highlights for the control valve market during 2012.
There are good opportunities for control valve suppliers who are well-prepared for global economic growth. However, the market dynamics for these suppliers will remain very competitive. The challenge for control valve suppliers is how to differentiate themselves and continue to offer increasing value propositions to end users and OEMs. The strategies highlighted in ARC Advisory Group’s Control Valve Global Market Research report should be considered to enable suppliers to remain competitive and position themselves for continued success, and moderate the effects of the ongoing global economic uncertainty.