Valve Remote Control System Market Research Report - Global Forecast till 2027

Valve Remote Control System Market Research Report: Information by Type (Hydraulic, Pneumatic, Electric and Electro-Hydraulic), by Valve Type (Ball, Globe, Butterfly, Gate, Diaphragm, Plug, Check and Safety), by Application (Marine, Offshore and others) and by Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South America - Forecast till 2027

ID: MRFR/E&P/6454-HCR | February 2021 | Region: Global | 111 pages

Valve Remote Control System Market Scenario


Valve remote control system market is expected to grow at USD 12.7 Billion 6.88 % CAGR during the forecast period.


The global valve remote control system market is projected to grow significantly during the forecast period, mainly due to the rising adoption of automation across the industries. The rapidly growing manufacturing industry is also expected to drive the global valve remote control system market. Moreover, the increasing seaborne trade activities to meet the growing demand of industrialization across the globe is expected to lead to the growth of the global valve remote control system market.


Additionally, the rise in oil production activities increases the demand for valve remote control systems. For instance, in October 2018, Rex International Holding Limited (Singapore) announced that it would start producing oil in the offshore fields of Block 50 located in the eastern coast of Oman by the second half of 2019. The growing offshore energy and power activities in the country are expected to drive the market during the forecast period.


The global valve remote control system market size is estimated to be valued at USD 8.5 billion by 2024, at a 6.5% CAGR from 2019 to 2024. The increasing need for industrial valves from oil & gas industry is expected to drive the valve remote control system market during the forecast period. According to the Interantional Energy Agency (IEA), the US is expecetd to witness an increased demand for oil between 2018 and 2023 due to the growing oil production.


According to the Ministry of Energy and Mineral Resources of the Republic of Indonesia, the investment in oil and gas production activities reached USD 120 billion in 2017, which has increased the demand for valve remote control systems in the country. Additionally, Europe is also a key market for valve remote control systems in the oil & gas industry. For instance, in July 2018, the Norwegian Petroleum Directorate announced that 20 new development projects have been approved in North Sea basin. Production on these sites are expected to start by April 2020. This is expected to create a demand for valve remote control systems in Norway.


The global valve remote control system market is expected to grow at ~6.50 % CAGR during the forecast period.


Key Players


The key players of global valve remote control system market are Honeywell (US), Emerson (US), Wartsila (Finland), KSB (Germany), Nordic Group (Singapore), Danuni Marine (Denmark), Rotork (UK), Cyclotech (Singapore), Scana (Norway).


Market Segmentation


 Valve Remote Control System Market_Image


The global valve remote control system market has been segmented based on type, valve type, application, and region. Based on type, the market is classified into hydraulic, pneumatic, electric, and electro-hydraulic. The pneumatic segment is expected to hold the largest share during the forecast period as the valve remote control system plays a key role in diverting compressed air to pneumatic actuators, resulting in driving the demand for connected valve to open/close system. Hydraulic segment is expected to be the second largest segment in valve remote control system market due to the increasing use of pressure control valve in various industries. The global valve remote control system market is further segmented based on application, including marine, offshore, and others. The offshore segment is estimated to register the highest growth rate during the forecast period.


Global Valve Remote Control System Market


The global valve remote control system market is expected to witness substantial growth during the forecast period owing to the growing offshore investments in the oil & gas industry. According to IEA, offshore oil production is estimated to reach 27.4 million barrels of oil equivalent per day (mboe) by 2040 from 26.4 million barrels of oil equivalent per day (mboe) in 2016.  This would increase the demand for valve remote control systems, globally. The Middle East & Africa is expected to be the fastest growing market for valve remote control systems due to the increased investments in grid expansion projects. The increase in the number of petrochemical plants could create growth opportunities for the global valve remote control system market.  


Valve remote control systems are widely used for managing the valves in various applications in end-use industries, such as marine, oil & gas, and piping. These systems are centralized systems that are used to control the opening and closing of remotely mounted valve actuators. They comprise control cabinet, valves, actuators, power sources, distribution module, control station, and related accessories.



Report Scope:
Report Attribute/Metric Details
  Market Size   2024: USD 12.7 billion
  CAGR   6.88% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Valve Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Honeywell (US), Emerson (US), Wartsila (Finland), KSB (Germany), Nordic Group (Singapore), Danuni Marine (Denmark), Rotork (UK), Cyclotech (Singapore), Scana (Norway)
  Key Market Opportunities   rising adoption of automation across the industries
  Key Market Drivers   Increasing need for industrial valves from oil & gas industry


Frequently Asked Questions (FAQ) :


2019 to 2024 is the growth period of the market.

USD 8.5 billion is the valuation of the market by 2024.

At 6.5% CAGR the market will grow.

The global valve remote control system market is to grow for the rising adoption of automation across the industries.

Rotork (UK), Emerson (US), Scana (Norway) Wartsila (Finland), Honeywell (USNordic Group (Singapore), Danuni Marine (Denmark), KSB (Germany), Cyclotech (Singapore) are the key players of the market.