European Industrial Valves and Actuators Market Analysis & Forecasts 2019-2024: Automation and Initiatives Like Industrie 4.0 and IIoT are Expected to Drive the Market
Friday, September 13, 2019
DUBLIN, Sept. 13, 2019 /PRNewswire/ -- The "Analysis of the European Industrial Valves and Actuators Market, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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In the last couple of decades, the valve manufacturing industry was focused on identifying low-cost manufacturing destinations as Outsourcing' had huge pricing benefits. Despite the pricing benefits, low quality and late delivery were serious concerns to the manufacturers and end users. Has the situation changed in recent years? Are valve manufacturers more focused on increasing their competency internally than earlier? Is the concept of Insourcing' or Reshoring' of valve manufacturing considered a solution to the issues faced by the outsourcing of valve manufacturing?
Let us understand how the valve industry operates before analyzing the advantages and disadvantages of outsourcing of the valve manufacturing process. In low-cost countries, there are two types of companies: US/European companies having their operation in developing countries as well as local companies based only out of the low-cost countries. In the former, activities such as designing, research and development, and testing happen in US/Europe, whereas the labour-intensive production processes such as manufacturing of rough castings for valves and valve parts take place in the low-cost manufacturing regions. This enables the manufacturers to maintain the quality and also have the advantage of low pricing. These companies manufacture products (special or customized valves) or parts (flanges, fittings, etc.) which are large in size or critical in applications. The second set of manufacturers produce standard products (standard valves, flanges, and fittings) in larger volumes and export to developed countries such as the US and Europe through various market channels. Demands for low-cost manufacturers are usually generated either by direct buyers (process equipment manufacturers and engineering services companies) or indirect buyers (agents and distributors).
Quality has been a serious concern for purchasers ever since the concept of outsourcing was introduced in valve manufacturing. Huge investments are made by valve manufacturers to improve the production and process. Along with investments, many standards are created and implemented to ensure quality and to increase the repeatability of products manufactured in low-cost manufacturing countries. Specifications and guidelines are provided for vendor qualification, weld procedures, inspection and testing, and compliance certificates.
Valve manufacturers are still debating on quality concerns and pricing benefits of Outsourcing' of valve manufacturing. Valve experts and manufacturers consider automation to reduce the labour cost difference and increase the scale of operations. They are trying to analyze the cost of outsourcing and resourcing to understand the benefits of each process completely. Although the concept of outsourcing may not end, it may reduce as valve manufacturers are trying to understand the total cost of ownership of outsourcing and insourcing by considering all the cost and risk factors involved in the process. This definitely increases the investments in automation of their facilities or helps to identify alliances within their supply or customer base. Technology, skill, capacity, and time are factors required by valve manufacturers to increase their competency and to insource their manufacturing.
Key Topics Covered:
1. Executive Summary
-- Key Findings
-- Market Engineering Measurements
-- CEO's Perspective
2. Market Overview
-- Market Definitions
-- Key Questions this Study will Answer
-- Market Segmentation
-- Market Distribution Channels
3. Drivers and Restraints - Total Industrial Valves and Actuators Market
-- Market Drivers
-- Drivers Explained
-- Market Restraints
-- Restraints Explained
4. Forecasts and Trends - Total Industrial Valves and Actuators Market
-- Market Engineering Measurements
-- Forecast Assumptions
-- Revenue Forecast
-- Revenue Forecast Discussion
-- Percent Revenue Forecast by End-user Industry
-- Revenue Forecast by End-user Industry
-- Revenue Forecast Discussion by End-user Industry
-- Industrial Valves Segment - Revenue Forecast
-- Industrial Valves Segment - Revenue Forecast Discussion
-- Industrial Valves Segment - Percent Revenue Forecast by Valve Type
-- Industrial Valves Segment - Revenue Forecast by Valve Type
-- Industrial Valves Segment - Revenue Forecast Discussion by Valve Type
-- Industrial Actuators Segment - Revenue Forecast
-- Industrial Actuators Segment - Revenue Forecast Discussion
-- Industrial Actuators Segment - Percent Revenue Forecast by Actuator Type
-- Industrial Actuators Segment - Revenue Forecast by Actuator Type
-- Industrial Actuators Segment - Revenue Forecast Discussion by Actuator
Type
-- Ball Valve Sub-segment - Percent Revenue Forecast by End-User Industry
-- Ball Valve Sub-segment - Revenue Forecast by End-User Industry
-- Ball Valve Sub-segment - Revenue Forecast Discussion by End-User
Industry
-- Butterfly Valve Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Butterfly Valve Sub-segment - Revenue Forecast by End-user Industry
-- Butterfly Valve Sub-segment - Revenue Forecast Discussion by End-user
Industry
-- Gate, Globe, and Check Valves Sub-segment - Percent Revenue Forecast by
End-user Industry
-- Gate, Globe, and Check Valves Sub-segment - Revenue Forecast by End-user
Industry
-- Gate, Globe, and Check Valves Sub-segment - Revenue Forecast Discussion
by End-user Industry
-- Plug Valve Sub-segment - Percent Revenue Forecast by End-user Industry
-- Plug Valve Sub-segment - Revenue Forecast by End-user Industry
-- Plug Valve Sub-segment - Revenue Forecast Discussion by End-user
Industry
-- Control Valve Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Control Valve Sub-segment - Revenue Forecast by End-user Industry
-- Control Valve Sub-segment - Revenue Forecast Discussion by End-user
Industry
-- Speciality Valve Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Speciality Valve Sub-segment - Revenue Forecast by End-user Industry
-- Speciality Valve Sub-segment - Revenue Forecast Discussion by End-user
Industry
-- Hydraulic Actuators Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Hydraulic Actuators Sub-segment - Revenue Forecast by End-user Industry
-- Hydraulic Actuators Sub-segment - Revenue Forecast Discussion by
End-user Industry
-- Pneumatic Actuators Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Pneumatic Actuators Sub-segment - Revenue Forecast by End-user Industry
-- Pneumatic Actuators Sub-segment - Revenue Forecast Discussion by
End-user Industry
-- Electric Actuators Sub-segment - Percent Revenue Forecast by End-user
Industry
-- Electric Actuators Sub-segment - Revenue Forecast by End-user Industry
-- Electric Actuators Sub-segment - Revenue Forecast Discussion by End-user
Industry
5. Market Share and Competitive Analysis - Total Industrial Valves and Actuators Market
-- Market Share
-- Market Share Analysis
-- Competitive Environment
-- Competitive Factors and Assessment
6. Growth Opportunities and Companies to Action
-- Growth Opportunity 1 - Energy Efficiency
-- Growth Opportunity 2 - Industrial Internet of Things
-- Strategic Imperatives for Success and Growth
7. Mega Trends and Industry Convergence Implications
-- Impact of Mega Trends on the European Industrial Valves and Actuators
Market
8. The Last Word
For more information about this report visit https://www.researchandmarkets.com/r/vyf12g
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