DUBLIN, April 10, 2013 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/9x8s9m/global_industrial) has announced the addition of the "Global Industrial Valve Market 2011-2015" report to their offering.
(Logo: http://photos.prnewswire.com/prnh/20130307/600769 )
TechNavio's analysts forecast the Global Industrial Valve market to grow at a CAGR of 4.7 percent over the period 2011-2015. One of the key factors contributing to this market growth is the need for effective emission control. The Global Industrial Valve market has also been witnessing a steady transition from conventional valves to automatic valves. However, the increase in price wars among vendors could pose a challenge to the growth of this market.
Key vendors dominating this market space include Emerson Electric Co., Flowserve Corp., Kitz Corp. and Tyco International Ltd.
Other vendors mentioned in the report are ITT Corp., KSB AG, Sulzer Ltd., GE Co., Rotork plc, Cameron International Corp., IMI plc. and Crane Co.
Commenting on the report, an analyst from TechNavio's Engineering team said: "The Global Industrial Valve market is witnessing a steady transition from the usage of conventional valve types to automatic valves. It is expected that the demand for automatic valves will outperform the demand for the conventional valves especially due to the increasing need from Process industries. There will be increased demand for automatic valves from Process industries owing to improvements in operational efficiencies in the industrial production process. It is also estimated that there will be increased demand for the separately sold automatic actuators in developing countries as opposed to the automatic controls and regulators with preinstalled actuators. This is mainly due to the lower cost of the separately sold automatic actuators. However, with vendors focusing on low-cost products, this transition is expected to gain momentum slowly during the forecast period."
According to the report, the Global Process industry is growing at a rapid rate, which in turn is creating more opportunities for the Global Industrial Valve market. Thus the demand for industrial valves increases along with the growth of the Process industries. Furthermore, the increasing demand for industrial valves from the Municipal sector for water and wastewater management also enhances the growth of the market. Many municipalities are investing heavily in water and wastewater projects, thus increasing the demand for industrial valves.
For more information visit http://www.researchandmarkets.com/research/9x8s9m/global_industrial
SOURCE Research and Markets