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The industrial thermostatic control valves market size is forecast to increase by USD 275.3 million at a CAGR of 4.27% between 2023 and 2028. The market is experiencing significant growth due to the increasing automation in industrial facilities across various end-use sectors in the US. This trend is driven by the need for energy efficiency and Fluid Power Energy savings in industrial processes. Moreover, the emerging demand for smart industrial thermostatic control valves is gaining momentum, as these advanced valves offer improved accuracy, reliability, and ease of use. However, the market is also facing challenges such as fluctuating raw material prices, which can impact the sales of thermostatic control valves. Despite these challenges, the market is expected to continue its growth trajectory, driven by the increasing demand for temperature control solutions in various industries, including nuclear power plants and manufacturing sectors.
The market is experiencing significant growth in various industries, including nuclear power plants, fossil power, LNG, and the chemicals industry. This growth can be attributed to the increasing focus on energy security, investment activity, and automation in these sectors. Control valves play a crucial role in maintaining process variables such as flow rate, pressure, and temperature at set points. Inflation and operational efficiencies are key drivers for the adoption of advanced thermostatic control valves. These valves help minimize losses and prevent malfunctions, ensuring smooth work processes. Nuclear power plants and other energy-intensive industries rely on thermostatic control valves for maintaining optimal temperatures in their processes.
Furthermore, new technologies, such as leak detection and periodic overhaul systems, are increasingly being adopted to improve the performance and longevity of these valves. The complexity of work processes in the fluid power energy sector necessitates the use of advanced control valves. Metrex Valve and Dwyer Instruments are leading players in this market, offering high-quality, reliable solutions to meet the evolving needs of the industry. In conclusion, the market is poised for growth, driven by the energy sector's focus on automation, energy security, and efficiency. These valves play a critical role in maintaining process variables and preventing malfunctions, making them an essential investment for industries relying on fluid power energy.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The oil and gas industry segment is estimated to witness significant growth during the forecast period. The chemicals industry relies heavily on thermostatic control valves for various safety applications in media flow processes. These valves play a crucial role in process automation and connected networks, ensuring energy efficiency and optimal performance. In the oil and gas sector, thermostatic control valves are extensively used in systems related to sanitation, drilling, and production. However, the recent volatility in crude oil prices has significantly impacted the industry, leading to financial instability for many oil producers. Consequently, numerous oil and gas companies in North America have had to file for bankruptcy. Despite these challenges, the demand for thermostatic control valves remains strong due to their essential role in maintaining process efficiency and safety across diverse industries. Rotary valves, in particular, are gaining popularity due to their versatility and reliability in regulating media flow.
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The oil and gas industry segment was valued at USD 438.30 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The Asia Pacific (APAC) region is experiencing significant growth in the market due to the region's rapid industrialization and modernization. In the chemicals industry, these valves play a crucial role in ensuring safety applications and maintaining optimal media flow in process automation systems. With the increasing focus on connected networks and energy efficiency, industrial thermostatic control valves have become essential components for manufacturers seeking to enhance their operations without sacrificing product quality in the price-sensitive APAC market. Furthermore, the power industry in APAC is witnessing substantial investment as countries like Indonesia, India, and Vietnam undergo industrialization and urbanization. This modernization trend is driving the demand for advanced industrial thermostatic control valves to meet the heightened process requirements and achieve competitive advantages. Rotary valves, in particular, are gaining popularity due to their reliability and energy efficiency.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased automation in industrial facilities is the key driver of the market. In the manufacturing sector, particularly in Asia Pacific, there has been significant growth in recent years, attracting numerous foreign investors to establish production facilities. The integration of automation technology into manufacturing processes has become a prevailing trend to ensure optimal performance and efficiency. Many manufacturers are investing heavily in automation to gain a competitive edge.
Furthermore, a portion of their revenue is being allocated towards modernizing facilities, leading to faster and superior returns. Given the importance of industrial thermostatic control valves in process industries, their adoption is anticipated to rise due to the increasing investments in automation. Fluid power energy is a critical aspect of industrial processes, and the demand for efficient and precise control valves continues to escalate in various sectors such as nuclear power plants.
The emerging demand for smart industrial thermostatic control valves is the upcoming trend in the market. In the realm of Fluid Power Energy, the market is experiencing significant growth due to the integration of diagnostics and smart technology. These advancements offer numerous advantages, particularly in the use of smart valves.
Furthermore, these valves monitor crucial process variables, such as pressure, temperature, stem position, and flow rate, enabling real-time data transfer for diagnostics, control instructions, and documentation between the valve and control units. This not only simplifies repair and maintenance processes by reducing the need for manual documentation but also enhances overall system efficiency. Key players in this market are capitalizing on this trend, especially in industries like Nuclear power plants, where precise temperature control is essential.
The fluctuating raw material prices is a key challenge affecting the market growth. Industrial thermostatic control valves are essential components in various industries, particularly those dealing with Fluid Power Energy. These valves are manufactured using strong materials such as stainless steel, hardened steel, cast iron, brass, bronze, and aluminum. The selection of these materials is due to their high melting points and durability, making them suitable for diverse end-user applications in industries.
However, the international market's pricing instability for these raw materials poses a challenge for small and medium-sized manufacturers. Factors such as inflation, availability, and production costs significantly impact the pricing of these materials. Consequently, smaller companies may struggle to maintain their market shares against larger competitors, resulting in a shift in the market dynamics. These companies cater to various industries, including nuclear power plants, where precise temperature control is crucial. Automation is another sector that heavily relies on industrial control valves to optimize energy usage and improve efficiency.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMOT Controls Corp - The company offers Actuated 3-Way Rotary Control Valves, Thermostatic 3-Way Control Valves, and Thermostatic 2-Way Control Valves.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market, specifically focusing on thermostatic valves, plays a significant role in Fluid Power Energy systems across various industries. These valves are essential for process automation in sectors like the chemicals industry, nuclear power plants, and sanitation systems. Temperature control is a critical parameter in these applications, ensuring safety and operational efficiencies. Sales of control valves, including rotary valves, have been influenced by inflation and investment activity in energy transition initiatives, energy security, and decarbonization efforts. The market is driven by the need for automation and connected networks, enabling real-time monitoring and optimization of process variables such as flow rate, pressure, temperature, density, concentration, and liquid level.
Furthermore, modern technologies, such as media flow sensors and advanced automation systems, help minimize losses, malfunctions, and unnecessary costs. Periodic overhauls and leak detection are crucial for maintaining optimal performance and ensuring system safety. New technologies and innovative approaches to work processes continue to shape the control valves market, offering economic benefits and future success in industries undergoing digital transformation. Cross-industry initiatives and collaboration contribute to the development of advanced control valve solutions, enhancing energy security and improving overall system performance. The integration of these technologies in fossil power, LNG, and nuclear power plants will continue to drive market growth.
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Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.27% |
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Market growth 2024-2028 |
USD 275.3 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.02 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 45% |
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Key countries |
China, US, UK, France, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Albert Richter GmbH and Co. KG, AMOT Controls Corp., Armstrong International Inc., BOLA spol s.r.o., Cole Parmer, Danfoss AS, Dover Corp., Dwyer Instruments Inc., Fluid Power Energy, Fushiman Co. Ltd., Honeywell International Inc., Huegli Tech AG LTD., Metrex Valve Corp., Micromax Pty Ltd., Relevant Solutions LLC, Reliance Worldwide Corp. Ltd., ThermOmegaTech Inc., Thermoreg International Ltd., Watts Water Technologies Inc., and ZIMCO Instrumentation Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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