New ARC Advisory Group research on the global market for industrial on-off valve, actuators, and switchboxes reveals that, with the COVID-19 pandemic causing most global economies to fall into recession, we’re seeing a steep decline in valves and actuators revenues across most major world regions. ARC expects a gradual market recovery in 2021 with a return to stable growth rates unlikely before 2022 or 2023. On the positive side, COVID-19-related social distancing mandates are also prompting users to automate more on-off valves to minimize the need for human intervention in plants. Users are also evaluating implementing newer digital techniques to be able to control and monitor critical valve assets remotely. Future market performance will depend on how quickly capital investment, government spending, and consumer spending return to more normal rates.
“On-off valves and actuators growth depends heavily on demand from the process industries, which in turn depend heavily on consumer demand. The COVID-19 pandemic has significantly reduced demand for many products, especially fuels for transportation and power. Depressed commodity prices (especially for crude oil and refined products) inhibit further investment in these areas until the normalization of market demand to pre-COVID-19 stage,” according to Sandeep Mukunda, Senior Research Analyst at ARC Advisory Group and key author of ARC’s On-off Valves, Actuators, and Switchboxes Global Market Research report.
About the On-off Valve, Actuators, and Switchboxes Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the on-off valve, actuators, and switchboxes market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by actuator type, industry, customer type, revenue category, sales channel, and world region.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) – This personalized spreadsheet includes up to two years of historical data in addition to the current base year market data and five-year market forecast. The workbook enables licensed users to freely manipulate the latest data to make it easier to analyze for business intelligence and generate custom reports.
- Concise Presentation Market Analysis Report (PDF) – This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
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