The latest findings by Frost & Sullivan, the international marketing consulting company, reveal that the European industrial valves and actuators industry is in a stable position, pointing to consistent levels of optimism as the global economy comes back to life. A stronger performance across crucial application sectors and more innovative technological inroads into valve automation make key players in the mature industrial valves and actuators market confident about future growth prospects. With revenues valued at USD 3.53 billion in 2001, Frost & Sullivan projects sales in the European industrial valves and actuators market to reach USD 4.10 billion in 2008, representing a compound annual growth rate (CAGR) of 2.2%.
The advent of smart valves, coupled with widening acceptance and growing uptake of sophisticated fieldbus networks, will stimulate growth in the industry. As more end-users in the industrial sector adopt sophisticated automation systems, intelligent valves should become an integral part of all improved valve systems. The trend towards online systems and remote manufacturing will heighten the popularity of smart valves, energising sales in the process.
The overall market should be stimulated by the increasing dynamism of the quarter-turn and actuator product segments. Benefiting from the strength of this design’s simplicity, ease-of-use and compatibility with a wider range of chemicals than multi-turn valves, the quarter-turn segment is expected to display steady growth in coming years.
Followed by the multi-turn valves sector, control and self-acting valves – comprising control valves, check valves and relief valves – claim the top spot in Frost & Sullivan’s product market ranking, accounting for 39.5 per cent of revenues in 2001. This product group is expected to show increasing growth over the forecast period, fuelled by the distinct move towards factory automation.
Meanwhile, the actuators segment is expected to experience the highest growth in the total industrial valves and actuators market. Strong demand for automated products and the rising uptake of premium-priced electric actuators is anticipated to stimulate revenue growth over the next few years.
