Price wars threaten growth in valves market

The market intelligence group noted the key vendors driving down product costs were Emerson Electric, Flowserve, Kitz and Tyco International.

The market is forecast to grow at a CAGR of 4.7 percent over the period 2011-2015

As well a focus on low-cost products, TechNavio claims the market has also been witnessing a steady transition from conventional valves to automatic valves.

Commenting on the report, an analyst from TechNavio’s Engineering team said: “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.”

It is 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.

According to TechNavio, 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.

The global industrial valve market is forecast to grow at a CAGR of 4.7 percent over the period 2011-2015.

Other vendors mentioned in the report were ITT, KSB AG, Sulzer, GE, Rotork, Cameron International, IMI and Crane Co.