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Strategic Analysis of the European Control Valves Market
Frost & Sullivan, June 2011, Pages: 69
This Frost & Sullivan research service titled Strategic Analysis of the European Control Valves Market offers a comprehensive analysis of key market drivers and restraints. It analyses the trends in the European control valves market across major end-user industries such as food and beverage, power generation, chemical and petrochemical, pharmaceutical, oil and gas, pulp and paper, water and effluent treatment and general manufacturing industries, such as mining, marine, steel, glass and textile industries, among others. The research determines the current trends in the control valves market in Germany, France, Italy, the United Kingdom, Benelux, Iberia, Scandinavia, rest of western Europe and the central and eastern Europe and describes the challenges for manufacturers during the forecast period. In this research, Frost & Sullivan's expert analysts thoroughly examine the following product segments: rotating shaft and sliding stem-type control valves.
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Market Overview
Need for Maintenance Costs to Boost Sales of New Control Valves
Steady growth in the European control valves market was derailed by the global economic recession, resulting in a significant decline in sales in 2009. Fears of a double-dip recession caused sales to slump in 2010 as well. Promisingly, however, projects that had been put on hold during the recession are back on track. These, together with newly initiated projects, are expected to drive growth. The market has experienced a sluggish recovery in 2011, powered by demand from the food and beverage and power generation sectors. An increased focus on reducing maintenance costs and tighter pro-environment regulations are the two factors poised to boost market prospects.
“There is heightened emphasis on incorporating a diagnostic tool within the control valve, which would eliminate the need for periodic services as well as downtime due to maintenance problems,” explains the analyst of this research. “This would also result in a revamping of the basic design of control valves, leading to a significant increase in sales.” Regulations regarding environmental pollution are poised to become tougher in the coming years. This will impact the design of control valves and boost the sales of valves that promote environmentally sustainable practices across various end user industries.
Broader Product Portfolios and Geographic Expansion will Support Competitive Success
Investments in the food and beverage as well as the power generation industries are set to fuel the uptake of control valves. At the same time, Central and Eastern Europe are anticipated to emerge as the primary geographical markets. “Manufacturers should develop broad product portfolios that would satisfy the requirements of these end user and geographical segments,” advises the analyst. “This strategy would enable them to broaden their market reach as well as increase their penetration of these emerging geographic markets.”
A key challenge for European market participants has been pricing due to intensifying competition from low-cost alternatives from Asia. This situation has been aggravated by budgetary limitations that have affected R&D initiatives. “To assert their competitive dominance, European control valve manufacturers have to focus on developing innovative, high-quality yet cost-effective designs that meet end-user requirements,” advises the analyst. “Value-added services that would generate valuable income and enable companies to differentiate themselves from the competition would also be critical to long-term success.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following product segments in this research:
Sliding stem control valves
Rotating shaft control valves
By End user:
Food and beverage
Power generation
Chemical and petrochemical
Pharmaceutical
Oil and gas
Pulp and paper
Water and effluent treatment
General manufacturing (mining, marine, steel, glass and textile)
The key objective of this research service is to provide an analysis of the key trends in the European control valves market for the period 2007 to 2017. This research service provides comprehensive forecasts for the total European control valves market with an analysis of the end-user segments like chemical and petrochemical, oil and gas, power generation, food and beverage, water and effluent treatment, pulp and paper, pharmaceutical and the general industrial manufacturing across the EU 27 countries. The product segmentation is based on rotating shaft and sliding stem which are a part of the scope.
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