Global Valve Remote Control System Industry Analysis, Outlook and Forecast 2020-2023
Valve remote control system is designed to manage the movement of the valves through a centralized system. The valve remote control system offers various advantages including efficient operations of industrial systems and reduction of maintenance and labor costs. The rising automation in industrial processes is expected to boost the demand for this system as it helps in predictive maintenance, especially in manufacturing industries. Based on application, the global market is segmented as marine, offshore, and others. The offshore segment is estimated to dominate the market during the forecast period due to the high demand for industrial valves in oil and gas production. Based on type, the global market is segmented into hydraulic, pneumatic, electric, and electro-hydraulic. The global valve remote control system market is expected to grow at 6.50% CAGR during the forecast period. Key Players The key players of the global valve remote control system market are Emerson (US), Honeywel