The current year, 2010, looks to be even more grueling for control valve suppliers as they continue to face soft global demand, this time without the support of a healthy backlog. Despite the current pessimism, there remain a number of factors pointing towards long-term control valve growth according to a new ARC Advisory Group study.
“Manufacturers have recognized that automation is key to survival in the global economy and there are crucial factors that will continue to drive the use of automation, fueling control valve market growth.
These automation drivers include growing demands for energy savings, higher productivity, increased production accuracy, better product quality, greater manufacturing agility to satisfy changing market demands, additional condition monitoring, better process control, increased safety functionality, greater capability for collaborative processes, and additional assurance regarding regulatory compliances,” according to Senior Analyst David Clayton, the principal author of ARC’s “Control Valve Worldwide Market Outlook.”
Control valves are widely used in manufacturing applications to optimize production and lower cost in a wide range of industries, and are poised for moderate growth in the long term.