ARC Advisory Group’s new research on the severe service valves market shows that the stabilization of the supply chain combined with price increases, healthy MRO activity, and a return to growth of new construction projects all helped fuel global growth in the severe service valves market. Although MRO activity was healthy throughout the year, the ability to begin working off large backlogs of orders in the second half of the year helped kick global growth into overdrive.
"As the supply chain stabilized, severe service valve suppliers were able to begin working off the near record backlog many of them entered 2022 with. This allowed many suppliers to convert order shipments that had been previously delayed to recognized revenue. Price increases initiated throughout the year in response to growing inflation further boosted global growth. Much of the growth was realized in North America and the Middle East. Growth in Asia and Europe was hindered by currency exchange rate conversions which dampened the regional growth of these markets. These headwinds have continued into 2023 with many suppliers reporting double-digit growth," according to Vidya Prasad, Senior Analyst and key author of ARC's Severe Service Valves Market Research.
Severe Service Valves Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Improving Local Presence
- Industrial 5G
- Adoption of Industrial IoT
- Operations to Adjust with the Dynamics in the Oil & Gas Sector
- Digital Positioners
- Plant Safety and Reliability
- Safety Regulations
Leading Suppliers to the Severe Service Valves Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Baker Hughes, Circor International, Emerson Automation Solutions, Flowserve, IMI Critical Engineering.
About the Severe Service Valves Research
The Severe Service Valves research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. 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, five-year market forecasts, and five years of historical analysis. The report segmentation includes Overall Scope, World Region, Valves by Body Type, Sales Channel, Revenue Category, On-off valve by Application, Industry, Customer Type, Control Valves by Application, Control Type, Component.
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:
- MIRA Service: An annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MIRA unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs.
- Concise Market Analysis Report (PDF): This wide-screen presentation format provides executives, business unit managers, and other 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.
- Market Intelligence Workbook (Excel Power Pivot, sold with Market Analysis Report PDF): A standard Excel Workbook, including base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate data, making it easier to analyze the latest data for business intelligence and generate custom reports, including up to five years of historical analysis.
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