Right now valves can be said to have attained its maturity and but more changes are expected in the years to come as the world grapple with more develop https://www.kp-lok.com mental issues. One thing that gives the valve industry the edge and opportunity in the emerging world market is the strategic position of valve industry in global economic development.
6 events that will shape the future of the valve industry
For the nearest future, the following events will continue to influence the development of the valve industry as valve roles will bring it answering the world’s need for clean water, power, energy and food:
- The world economy will continue to demand more resources. As things become more pressing, we expect continued expansion in the oil & gas, mining and power, water resources and a boost in the service sector including water resources. There will be an increase in migration, and the global supply chain will increase.
- More automation. Many industries depend on automation to meet up with an increase in service delivery and demand for products and services. Automation needs more robots, industrial machines, and more self-service public utility services. In effect demands for pumps and hydraulic systems will increase. More kilometers of the pipeline will need automated monitoring system.
- Product evolution. There is a need for more product improvement in the years to come as competition is expected to rise. New plants with higher production capacity and product quality will need more pressure and temperature to keep going. The solid mineral mining and more oil exploration will need specialized instrument valves to serve the production sectors.
- Increased investment in energy sector. Oil and gas are expected to boost its production leading to demand more pumps, pipelines, and need for SC and USC team powers for power. Projections for the future of oil and gas investment is expected to increase in the years to come. Increase in investment in this sector will affect the valve industry positively.
- Codes and standard. More product delivery, quality valves, and service efficiency will see more codes and standard for valves. The regulatory bodies and industry association and stakeholders will become active in setting the standard because valves will now play life critical roles in major sectors of our society to demand more attention for safety purposes.
- Greater focus on sustainability. The world will become more alert to the services of valves and its pivotal roles in many industries. Such attention drive will elicit more interest from people as more people will be more enlightened about the services and role of the valve industry in their everyday lives. Also, clients to valves industries will demand more responsibility from valve manufacturers because of demand on their respective businesses which the valve industry will be responsible to provide. Hygiene in food industry, zero leakage in LNG pipeline management and tighter valves for leak proof water supply.