2014-02-18 03:01:01 - Global Electrically Actuated Control Valve Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Electrically Actuated Control Valve market is to grow at a CAGR of 13.35 percent over the period 2012-2016. One of the key factors contributing to this market growth is the renovation of existing industrial plants. The market has also been witnessing an increased outsourcing of manufacturing activities to the APAC region. However, the need for high initial investment could pose a challenge to the growth of this market.
Since the global economic downturn, there has been a steady increase in the economies of Asian countries such as China developing countries such as India and China. This is mainly because of the availability of low cost labor and skilled workforce in these countries. In addition, this move helps companies
to increase their market presence in new geographies. Thus, the increasing outsourcing of manufacturing activities leads to an increase in investment from both domestic and international vendors. This in turn drives the demand in the Global Electrically Actuated Control Valve market.
This has paved the way for the emergence of cost-driven manufacturing companies across the countries in APAC region. Several organizations across various process industries from the Europe region and the Americas are increasingly outsourcing their manufacturing activities to APAC region. This thereby is expected to drive the demand for electrically actuated control valves from this region.
The Global Electrically Actuated Control Valve market is witnessing many growth drivers such as the renovation of existing industrial plants. In developed countries organizations across process industries are steadily replacing their legacy equipment with technologically advanced equipment to improve their organizational productivity.
The need for high initial investment is the main factor negatively affecting the growth of the Global Electrically Actuated Control Valve market. Currently, the prices of these control valves are increasing significantly as a result of the rising prices of raw materials.
The key vendors dominating this market space include Emerson Electric Co., Flowserve Corp., and MIL Controls Ltd. The other vendors mentioned in this report are Ross Valve Manufacturing Co., Rotork plc, Suzhou Delan Energy Science & Technology Co. Ltd., and Vahanvati Engineering.
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