The control valves, actuators, and positioners (CVAP) market in Asia is largely driven by the developing economies such as China and India, according to research by the ARC Advisory Group.
These countries are expected to drive the majority of Asia’s growth in control valve shipments. Huge investments are being made in process industries in China and India, creating a lot of opportunities for control valve suppliers. The need to replace its aging fleet of nuclear power plants is driving control valve investments in Russia; while the demand for a more stable power infrastructure in India is driving its need for more control valves.
Economic instability and exchange rate fluctuations caused some uncertainty in 2011, but the market for CVAP in Asia is still growing. Further, developing economies are complying with environmental concerns, such as adhering to global standards and regulations, improving energy management, streamlining production, and reducing costs. This helps Asian countries to compete in the global marketplace.
According to ARC Advisory Group’s research report done by Ritika Agrawal, Analyst, India; G. Ganapathiraman, Country Manager, India; David Clayton, Senior Analyst, Boston, the total control valves, actuators, and positioners market in Asia will exceed $2,600 million in 2016. ARC’s latest study, “Control Valves for Asia Market Research Study”, provides an in-depth analysis of the CVAP business in Asia. In addition to market analysis and forecasts, the study also covers the current market nuances, strategic issues, and the future outlook. The report also highlights the factors that contribute and inhibit growth of the control valves market in Asia.
Expanding Economy Drives the Market for Control Valves
According to G. Ganapathiraman, Country Manager, ARC Advisory Group, India, “Asia is driven by the industrial expansion in developing economies, and this boosts the demand for control valves.” He continues, “Process industries, such as chemical, oil and gas, power, refining, and others, which extensively use control valves, are expanding in Asia and this provides the impetus for the growth of control valves market in the region.” Asia is an important market for control valve suppliers seeking sustainable long-term growth oriented markets.
Asia Remains the Destination for Global Control Valves Suppliers
The region not only acts as a good demand-centric market, but also as an excellent manufacturing base that can serve the control valves market globally. While the market offers opportunities, the suppliers’ strategies ultimately contribute to success in the marketplace. Suppliers should understand the market nuances, identify emerging opportunities aligning with the overall corporate objectives, and develop their growth strategies.
For more information on this study, please visit ARC’s Market Research section.