As an Ohio based American manufacturer of Industrial Valves and Dampers, we are excited and look forward to the advancement in the industry. This is an exciting trend!
Developing regions such as LATAM, Middle East, Africa, and APAC boost the growth of industrial valves globally due to increased investment in infrastructure such as power plants, water supply lines, and sewage water treatment facilities. The utilization of smart valves is increasingly being adopted in North America and Europe because of their ability to control fugitive emissions which are required for compliance with environmental regulations.
Key Findings:
- The material is the major cost driver of the valves, and it accounts for approximately 50–53 percent of the total cost.
- Emerging markets have high potential to grow due to huge investments in infrastructure, power, etc.
- The obstacles faced by new entrants in the industrial valves market will be huge investments, technical expertise, product offerings, distribution network, and gaining buyer confidence.
- Labor is the second-biggest contributor to the total price, and the labor costs will deteriorate as companies are moving to the emerging countries for manufacturing.
- Implementing standardization of valves in the industry results in cost savings of approximately 15–20 percent until 2025.
- Valves are purchased from ad-hoc suppliers for applications where the need of the valve is low. This offers a huge cost advantage with a moderate-quality parameter.
For more information be sure to check out the article on Beroe Inc website here!
