The global industrial thermostatic control valves market to grow at a CAGR of 5.20% during the period 2017-2021.
The report, Global Industrial Thermostatic Control Valves Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is emerging demand for smart industrial thermostatic control valves. 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 broad spectrum, smart valves monitor a wide range of process variables, such as upstream and downstream pressure, temperature, stem position, and flow rate.
According to the report, one driver in market is growing electric power generation in APAC. 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 last few years. Industrial thermostatic valves, being widely used in power plants, are likely to see stupendous growth due to these fresh investments in China. The growing trend of the Chinese economy, especially in the manufacturing sector, has faced an intense challenge in terms of meeting the power demand, further increasing the probability of the expansion in the power infrastructure, in China. Similarly, in India, several projects are being undertaken to adopt renewable energy as the primary source.