VALVES AND ACTUATORS TO SURGE ON OIL & GAS APPLICATIONS

The oil and gas industry is the largest revenue for the industrial valves and actuators market .

"Currently, major oil exploration activity is taking place in Africa, South America, the Middle East, and Russia," Frost & Sullivan Industrial Automation and Process Control Research Associate Niranjan Paul said in a prepared statement. "These area will  be the focal point of industrial valve and actuator manufacturers and provide sustainable developing opportunities."

 "In the oil and gas industry, regulations aims at reduce air pollution by targeting a reduction of smog forming volatile organic compounds (VOC) emissions," Paul said. "The design of process equipmen t such as valves and actuators will be useful in achieving lowered plant emissions."

Even as major industrial valves and actuators manufacturers look to find growth opportunities, their profit margins are being squeezed by high price sensitivity across end-user industries. As a result, companies are being forced to use aggressive pricing strategies.

 "The market is likely to go through  increased requirement for custom solutions that suit special end-user industry applications,"Paul said. "Market participants need to meet much needs and also find other key customer requirements such as high-quality after-sales service and shorter delivery time."