Analysis of the European Industrial Valves and Actuators Market, Forecast to 2024

Analysis of the European Industrial Valves and Actuators Market, Forecast to 2024

Automation and Initiatives Like Industrie 4.0 and IIoT are Expected to Drive the Market

RELEASE DATE
21-Jun-2019
REGION
Europe
Research Code: MDAA-01-00-00-00
SKU: IA01532-EU-MR_23295

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Description

In the last couple of decades, the valve manufacturing industry was focused on identifying low-cost manufacturing destinations as ‘Outsourcing’ had huge pricing benefits. Despite the pricing benefits, low quality and late delivery were serious concerns to the manufacturers and end users. Has the situation changed in recent years? Are valve manufacturers more focused on increasing their competency internally than earlier? Is the concept of ‘Insourcing’ or ‘Reshoring’ of valve manufacturing considered a solution to the issues faced by outsourcing of valve manufacturing?

Let us understand how the valve industry operates before analyzing the advantages and disadvantages of outsourcing of the valve manufacturing process. In low-cost countries, there are two types of companies: US/European companies having their operation in developing countries as well as local companies based only out of the low-cost countries. In the former, activities such as designing, research and development, and testing happen in US/Europe, whereas the labor-intensive production processes such as manufacturing of rough castings for valves and valve parts take place in the low-cost manufacturing regions. This enables the manufacturers to maintain the quality and also have the advantage of low pricing. These companies manufacture products (special or customized valves) or parts (flanges, fittings, etc.) which are large in size or critical in applications. The second set of manufacturers produce standard products (standard valves, flanges, and fittings) in larger volumes and export to developed countries such as the US and Europe through various market channels. Demands for the low-cost manufacturers are usually generated either by direct buyers (process equipment manufacturers and engineering services companies) or indirect buyers (agents and distributors).

Quality has been a serious concern for purchasers ever since the concept of outsourcing was introduced in valve manufacturing. Huge investments are made by valve manufacturers to improve the production and process. Along with investments, many standards are created and implemented to ensure quality and to increase repeatability of products manufactured in low-cost manufacturing countries. Specifications and guidelines are provided for vendor qualification, weld procedures, inspection and testing, and compliance certificates.

Valve manufacturers are still debating on quality concerns and pricing benefits of ‘Outsourcing’ of valve manufacturing. Valve experts and manufacturers consider automation to reduce the labor cost difference and increase the scale of operations. They are trying to analyze the cost of outsourcing and resourcing to understand the benefits of each process completely. Although the concept of outsourcing may not end, it may reduce as valve manufacturers are trying to understand the total cost of ownership of outsourcing and insourcing by considering all the cost and risk factors involved in the process. This definitely increases the investments in automation of their facilities or helps to identify alliances within their supply or customer base. Technology, skill, capacity, and time are factors required by valve manufacturers to increase their competency and to insource their manufacturing.

Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Key Questions this Study will Answer

Market Segmentation

Market Distribution Channels

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by End-user Industry

Revenue Forecast by End-user Industry

Revenue Forecast Discussion by End-user Industry

Industrial Valves Segment—Revenue Forecast

Industrial Valves Segment—Revenue Forecast Discussion

Industrial Valves Segment—Percent Revenue Forecast by Valve Type

Industrial Valves Segment—Revenue Forecast by Valve Type

Industrial Valves Segment—Revenue Forecast Discussion by Valve Type

Industrial Actuators Segment—Revenue Forecast

Industrial Actuators Segment—Revenue Forecast Discussion

Industrial Actuators Segment—Percent Revenue Forecast by Actuator Type

Industrial Actuators Segment—Revenue Forecast by Actuator Type

Industrial Actuators Segment—Revenue Forecast Discussion by Actuator Type

Ball Valve Sub-segment—Percent Revenue Forecast by End-User Industry

Ball Valve Sub-segment—Revenue Forecast by End-User Industry

Ball Valve Sub-segment—Revenue Forecast Discussion by End-User Industry

Butterfly Valve Sub-segment—Percent Revenue Forecast by End-user Industry

Butterfly Valve Sub-segment—Revenue Forecast by End-user Industry

Butterfly Valve Sub-segment— Revenue Forecast Discussion by End-user Industry

Gate, Globe, and Check Valves Sub-segment—Percent Revenue Forecast by End-user Industry

Gate, Globe, and Check Valves Sub-segment—Revenue Forecast by End-user Industry

Gate, Globe, and Check Valves Sub-segment—Revenue Forecast Discussion by End-user Industry

Plug Valve Sub-segment—Percent Revenue Forecast by End-user Industry

Plug Valve Sub-segment—Revenue Forecast by End-user Industry

Plug Valve Sub-segment—Revenue Forecast Discussion by End-user Industry

Control Valve Sub-segment—Percent Revenue Forecast by End-user Industry

Control Valve Sub-segment—Revenue Forecast by End-user Industry

Control Valve Sub-segment—Revenue Forecast Discussion by End-user Industry

Speciality Valve Sub-segment—Percent Revenue Forecast by End-user Industry

Speciality Valve Sub-segment—Revenue Forecast by End-user Industry

Speciality Valve Sub-segment—Revenue Forecast Discussion by End-user Industry

Hydraulic Actuators Sub-segment—Percent Revenue Forecast by End-user Industry

Hydraulic Actuators Sub-segment—Revenue Forecast by End-user Industry

Hydraulic Actuators Sub-segment—Revenue Forecast Discussion by End-user Industry

Pneumatic Actuators Sub-segment—Percent Revenue Forecast by End-user Industry

Pneumatic Actuators Sub-segment—Revenue Forecast by End-user Industry

Pneumatic Actuators Sub-segment—Revenue Forecast Discussion by End-user Industry

Electric Actuators Sub-segment—Percent Revenue Forecast by End-user Industry

Electric Actuators Sub-segment—Revenue Forecast by End-user Industry

Electric Actuators Sub-segment—Revenue Forecast Discussion by End-user Industry

Market Share

Market Share Analysis

Competitive Environment

Competitive Factors and Assessment

Growth Opportunity 1—Energy Efficiency

Growth Opportunity 2—Industrial Internet of Things

Strategic Imperatives for Success and Growth

Impact of Mega Trends on the European Industrial Valves and Actuators Market

Impact of Mega Trends on the European Industrial Valves and Actuators Market (continued)

Impact of Mega Trends on the European Industrial Valves and Actuators Market (continued)

Impact of Mega Trends on the European Industrial Valves and Actuators Market (continued)

Mega Trend Impact on the European Industrial Valves and Actuators Market

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Partial List of Companies

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
In the last couple of decades, the valve manufacturing industry was focused on identifying low-cost manufacturing destinations as ‘Outsourcing’ had huge pricing benefits. Despite the pricing benefits, low quality and late delivery were serious concerns to the manufacturers and end users. Has the situation changed in recent years? Are valve manufacturers more focused on increasing their competency internally than earlier? Is the concept of ‘Insourcing’ or ‘Reshoring’ of valve manufacturing considered a solution to the issues faced by outsourcing of valve manufacturing? Let us understand how the valve industry operates before analyzing the advantages and disadvantages of outsourcing of the valve manufacturing process. In low-cost countries, there are two types of companies: US/European companies having their operation in developing countries as well as local companies based only out of the low-cost countries. In the former, activities such as designing, research and development, and testing happen in US/Europe, whereas the labor-intensive production processes such as manufacturing of rough castings for valves and valve parts take place in the low-cost manufacturing regions. This enables the manufacturers to maintain the quality and also have the advantage of low pricing. These companies manufacture products (special or customized valves) or parts (flanges, fittings, etc.) which are large in size or critical in applications. The second set of manufacturers produce standard products (standard valves, flanges, and fittings) in larger volumes and export to developed countries such as the US and Europe through various market channels. Demands for the low-cost manufacturers are usually generated either by direct buyers (process equipment manufacturers and engineering services companies) or indirect buyers (agents and distributors). Quality has been a serious concern for purchasers ever since the concept of outsourcing was introduced in valve manufacturing. Huge investments are made by valve manufacturers to improve the production and process. Along with investments, many standards are created and implemented to ensure quality and to increase repeatability of products manufactured in low-cost manufacturing countries. Specifications and guidelines are provided for vendor qualification, weld procedures, inspection and testing, and compliance certificates. Valve manufacturers are still debating on quality concerns and pricing benefits of ‘Outsourcing’ of valve manufacturing. Valve experts and manufacturers consider automation to reduce the labor cost difference and increase the scale of operations. They are trying to analyze the cost of outsourcing and resourcing to understand the benefits of each process completely. Although the concept of outsourcing may not end, it may reduce as valve manufacturers are trying to understand the total cost of ownership of outsourcing and insourcing by considering all the cost and risk factors involved in the process. This definitely increases the investments in automation of their facilities or helps to identify alliances within their supply or customer base. Technology, skill, capacity, and time are factors required by valve manufacturers to increase their competency and to insource their manufacturing.
More Information
No Index No
Podcast No
Author Vinitha Viswanathan
Industries Industrial Automation
WIP Number MDAA-01-00-00-00
Is Prebook No
GPS Codes 9593,9420