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The industrial thermostatic control valves market size is forecast to increase by USD 272.86 million at a CAGR of 4.38% between 2022 and 2027. The growth of the market depends on several factors such as increased automation in industrial facilities, growing power generation activities in APAC and the increasing number of favourable government regulations. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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This report extensively covers market segmentation by end-user (oil and gas industry, water and wastewater treatment industry, power industry, and others), type (pneumatic thermostatic control and electric thermostatic control ) , and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth by the oil and gas industry segment will be significant during the forecast period. A large number are employed in oil and gas plants to accommodate complex operations, such as draw works, drilling, service rigs, mooring, and mud pumps for oil explorations.
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The oil and gas industry segment was valued at USD 428.03 million in 2017. Several European and American governments have started imposing regulations on the oil and gas industry to safeguard the interests of both the environment and human life. The European Union has formulated strict guidelines ensuring that these industries incorporate operational safety and reduction in emissions. Leakage and spilling of harmful and toxic substances are being curbed to prevent detrimental effects on human life and the environment. These norms and directives are driving the demand during the forecast period.
Based on type, the market has been segmented into pneumatic and electric thermostatic control . The pneumatic thermostatic control segment will account for the largest share of this segment.? The market can be divided into distinct segments based on the type of valve used, with pneumatic control valves forming one such segment. These are widely employed in a variety of industries to regulate and control temperature effectively. The leading manufacturers in the market provide a comprehensive selection, which are equipped with a range of sophisticated features, including self-adjustment, high precision, and remote control capabilities, to meet the unique needs of various end-user industries and applications. These factors will exert a positive impact on the growth of the global market during the forecast period.
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The power generation plants are substantially growing in APAC due to aggressive government investment and rising urbanization. China has been witnessing huge investments in renewable energy for the last few years. Industrial thermostatic, being widely used in power plants, are likely to see stupendous growth due to these fresh investments in China. The nationalized grid restructuring program in Japan is expected to attract investments in transmission and distribution during the forecast period. Indonesia, the Philippines, and Malaysia are the other lucrative markets for transmission and distribution equipment manufacturers.Consequently, the market for will be driven by the growth of the power industry through the increased deployment of smart grid technology in the region, propelling the growth of the market in focus during the forecast period.
Diagnostics and smart technology are the two emerging concepts that can significantly contribute to the growth of the industrial thermostatic market. The requirement for smart valves is abundant due to large sets of benefits. In a broad spectrum, smart valves monitor a wide range of process variables, such as upstream and downstream pressure, temperature, stem position, and flow rate. They also facilitate the real-time transfer of information, such as diagnostics, control instructions, and documentation between the valve and control units. Repair and maintenance become easier due to the remote transfer of data through the valve.
Furthermore, because sensors are directly employed on the valves, process systems with smart valves are less prone to leaking than the normal valves that contain separate valves and sensors. While controlling emissions has become a concern in recent times, these advanced valves are likely to see growth of the market in focus during the forecast period.
The decline in global crude oil prices since 2020 has severely affected the market, primarily in the oil and gas industry. The US has witnessed overproduction of shale gas and crude oil to a record high, while the Middle East has not reduced its oil and gas output because of the fear of losing market share. This has created a demand-supply mismatch in oil and gas, resulting in a continuous decline in oil and gas prices. The oil and gas industry, which accounts for a major share of the global market, has taken a hit in recent years, resulting in the slowdown of new business contracts for market companies.
Moreover, the majority of the revenue when global oil and gas prices are low will result from thermostatic control valve retrofitting activities in the oil and gas industry. These mentioned factors will hamper the growth of the market in focus during the forecast period.
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APAC is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is moving toward becoming a market that promises high potential growth due to the rapid industrial development across countries like China, India, South Korea, Indonesia, and Taiwan. Automation requirements are the key factor for high levels of adoption of in this region. In addition, the modernization of plant facilities in APAC has become a new metric to achieve competitive advantages over rivals in many industries.
Moreover, as manufacturers are entering the price-sensitive APAC market, they need to focus on heightening the processes without compromising the quality of the product. APAC is enduringly seeing rising investment in the power industry, as developing countries in APAC, such as Indonesia, India, and Vietnam, among others, are witnessing rapid industrialization and urbanization. In addition, the population in this region is increasing at a greater rate when compared with the developed countries. Such factors are expected to drive market growth in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMOT Controls Corp - The company offers Actuated 3-Way Rotary Control Valves, Thermostatic 3-Way Control Valves, and Thermostatic 2-Way Control Valves.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Albert Richter GmbH and Co. KG, AMOT Controls Corp., Armstrong International Inc., BOLA spol s.r.o., Cole Parmer, Danfoss AS, Dover Corp., Dwyer Instruments Inc., Fluid Power Energy, Fushiman Co. Ltd., Honeywell International Inc., Huegli Tech AG LTD., Metrex Valve Corp., Micromax Pty Ltd., Relevant Solutions LLC, Reliance Worldwide Corp. Ltd., ThermOmegaTech Inc., Thermoreg International Ltd., Watts Water Technologies Inc., and ZIMCO Instrumentation Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market report delves into industrial processes and automation, analyzing key segments and restraints. It focuses on regulating fluids and gases through valve bodies and actuators, emphasizing raw materials, charges, and pipes. Various valve types cater to end-use industries like chemicals, energy, food and beverage, and pharmaceuticals. Key players such as Emerson Electric Co and Schneider Electric SE drive innovation in June 2022, introducing products like TC500A-N Connected Thermostat for enhanced BMS integration. The report employs SWOT and Ace Matrix analyses to assess service features, scalability, and growth roadmaps. With insights into industry giants like IMI plc and Siemens AG, it offers a comprehensive view of the thermal thermostat market, highlighting advancements and challenges in industrial automation and fluid control.
The market encompasses a diverse range of sectors, including the electric power industry and pharmaceuticals (drugs industry), where precise control over physical parameters such as temperature, pressure, and flow is crucial for operational efficiency and product quality. Process flows within these industries necessitate sophisticated control systems, with controllers playing a pivotal role in regulating various parameters. Within the realm of control systems, a multitude of valve types are employed, each serving specific purposes. Linear valves, such as gate valves and diaphragm valves, offer precise control over flow rates, while rotary valves like ball valves and butterfly valves excel in regulating flow in pipelines.
In industrial environments, the demand for precise control extends to temperature, pressure, and flow. This demand has led to the development of specialized valves tailored for these applications, including flow control valves, pressure control valves, and temperature control valves. These valves, equipped with actuators, allow for automated adjustments to maintain desired process conditions.
Industrial Thermostatic Control Valves Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.38% |
Market growth 2023-2027 |
USD 272.86 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.92 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albert Richter GmbH and Co. KG, AMOT Controls Corp., Armstrong International Inc., BOLA spol s.r.o., Cole Parmer, Danfoss AS, Dover Corp., Dwyer Instruments Inc., Fluid Power Energy, Fushiman Co. Ltd., Honeywell International Inc., Huegli Tech AG LTD., Metrex Valve Corp., Micromax Pty Ltd., Relevant Solutions LLC, Reliance Worldwide Corp. Ltd., ThermOmegaTech Inc., Thermoreg International Ltd., Watts Water Technologies Inc., and ZIMCO Instrumentation Inc. |
Market dynamics |
Parent market analysis,Market Forecasting ,Market growth and trends , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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