Growth in the directional control vales market is directly proportional to the ever-increasing demand from end-use industries, which are driving the market substantially.
The global market for directional control valves is highly fragmented due to the existence of well-established national and international players. Robust competitive environment in directional control valves market is expected to get bigger with the rise in brand-new technology, product extensions and amalgamations. The global directional control valves market is anticipated to grow at a significant rate in the coming years. Awareness for pure water coupled with rising demand for hi-tech purification technologies has urged the rise in hydraulic systems. Developed economies, in order to fulfil the pure water consumption demand, are leveraging high investments for pure water production. Besides, key market restraining factors such as the BRIC nations not having proper supply facilities has resulted in impurities polluting the water during transportation. Also, government regulations on industrial wastewater disposal in Asia Pacific region has led to the pollution of natural water reservoirs.
Global market for directional control valves market can be segmented by position, by operating type, by application and by region. On the basis of valve type, the global directional control valves market is segmented by 2-way valve, 3-way valve and proportional valve. On the basis of operating type, the global directional control valves market is segmented by manual, mechanical, pneumatic, hydraulic and others. On the basis of application, the global directional control valves market is segmented by pulp & paper, plastics, die casting & foundry, machine tooling, marine/offshore, wood processing and others.
The market for directional control valves is segmented into regions, such as North America, Europe, East Asia, South Asia, Latin America and the Middle East and Africa (MEA). Asia Pacific, which includes East Asia and South Asia, was the highest revenue-contributing region in the global directional control valves market in 2018 and will continue to lead the market in the next five years. North America was the second-biggest market, followed by Europe. The demand for directional control valves in Asia Pacific is further projected to witness the highest growth in the coming years owing to an expanding middle-class population and increased urbanization. The North American market for directional control valves is likely to grow at a significant rate due to an increase in the demand for oil and gas, electricity and chemicals. The market will experience increased demand for potable water in emerging economies, such as India, Indonesia and China, which will require the setting up of several wastewater treatment plants.
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Prominent players in the global directional control valve market are HAWE Hydraulik SE, Eaton, Bosch Rexroth, Daikin Industries Ltd., Kawasaki Heavy Industries, Ltd., Parker Hannifin Corp., ENERPAC, Curtiss-Wright, Emerson Electric, Sun Hydraulics LLC, Pedro Roquet, S.A., Versa Products Company Inc. and Bermad Water Technologies, among other players. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the directional control valve market globally.
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The global market for directional control valve is fragmented in nature owing to the presence of large number of players in the market. The global directional control valve market has lucrative opportunities for new entrants, which will cater to competitiveness in the product offerings and also lead to the reduction in prices of the products.
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