Emerging regions boost industrial valves & actuators market

Particularly in emerging markets such as Africa and Latin America, the uptake of valves and actuators will be increased by oil exploration activities, investments in new refineries and the modernisation of existing facilities. The offshore oil and gas industry in Latin America is particularly expected to fuel the valves and actuators market. End-user preference for greater process automation is also expected to boost growth opportunities for North American and European control valve manufacturers.

Despite demand, valve and actuator manufacturers are forecast to lose potential revenues as a result of the political situation in countries such as Iran, Sudan and Syria. The global financial downturn has also had an impact, compelling end users to defer projects and maintain existing equipment rather than purchase new valves and actuators.

Aggressive pricing strategies in the Asia-Pacific region will also reduce the sale of new valves, suggesting that vendors should enhance their aftermarket capability to sustain profits and meet wide-ranging consumer requirements.

Niranjan Paul, Research Analyst, Industrial Automation and Process Control, Frost & Sullivan, commented: “The water and wastewater industry will offer significant growth potential for valve and actuator manufacturers in Asia-Pacific, Africa and Latin America. Due to the burgeoning population and rapid urbanisation in these regions, water scarcity and the need to provide purified and portable water for human consumption have led to the setting up of desalination plants, boosting the use of valves and actuators. Valve and actuator manufacturers need to invest in R&D to deliver a comprehensive solution complete with wireless monitoring and advanced valve-condition monitoring capabilities. With subsea exploration in Europe and Latin America projected to rise, widening product portfolios to include double-expanding gate valves will help vendors appeal to a larger consumer base in this high-potential market.”