Valves Report: Dashboard’s Response
The valve market is enormous – there are numerous types of valves for a multitude of purposes, from pressure control to tank protecting models and the demand for them is constant. In the latter half of March, TMR Research published a market report on control valves. It included a trend analysis, industry overview, growth predictions and future prospects about the industry and related areas. We, at Dashboard, found the analysis TMR Research conducted on key trends to have a particular relevance to our partners in the oil and gas industry.
The report identified that the major opportunity for progress in valves, is the oil and gas industry;it is growing year on year and requires a constantly increasing amount of supporting equipment, which includes valves. Valves are essential in oil and gas monitoring, as they facilitate the implementation of digital oil field technologies and allow for operations that are more accurate and easily controlled.
The most important valve applications are predicted to happen in crude oil and natural gas processes as well as natural gas liquids (NGLs) and third-party regulatory sites. Our view aligns with that of the TMR specialists but we would like to specifically emphasise the third-party sites, as they take responsibility for someone other than themselves. We believe they will be the driving force behind new valve technology and shape the direction that valve development will take.
We further believe the TMR Research market report is particularly relevant to companies within the oil and gas industry as it gives an indication of future trends and prepares them for what is to come. Valves themselves may not form a huge part of the overall equipment that the oil and gas industry needs but they are integral to its success. In this regard, the direction it adapts can show where the rest of the industry is headed. Therefore, reports such as this one are an important measure of the industry’s drift and movements.