McIlvaine Company has boosted its forecast for
growth in the industrial valve industry over the next five
years, citing higher anticipated revenues from the sales
of smart valves, the market research company said
The current forecast is for 5 percent growth, but McIlvaine
said it is revising this figure to 5.5% CAGR for the
McIlvaine noted that the valve forecasts are defined to match
the individual valve supplier revenues, so they include smart
valve technology where it is sold by the
valve supplier but not by an independent automation
The biggest growth will occur in Asia, including the Middle
East and two BRIC countries (China and India), as the oil and gas
sector is leading the way toward smart valves.
For sub-sea oil and gas, the use of intelligent control systems
for valve trees is becoming a defining factor of intelligent
well development, the research company said.
All electric subsea production control systems are replacing
industry standard electro-hydraulic control systems, with the
aim of making them more reliable, more responsive and more cost
The oil and gas industry is moving toward valve technology with embedded processor
and networking capability to work alongside sophisticated
monitoring technology coordinated through a
central control station.
The goal has been to link control valves to an extended data network,
coordinating control valve operation with the increasingly
detailed data available on flow rates and operating
Connecting valves to a network allows distributed control,
which can enable operators to reconfigure piping and networking
systems so that a field can continue producing even if there is
a blockage in, or damage to, the pipeline network.
Another goal is to develop valves that consume less power to
create systems that can be deployed in applications where
conventional valves cannot be used due to the lack of
One manufacturer leading the way in smart valve development
is Emerson Process Management, according to McIlvaine
officials. The company's range of high-performance Fisher
digital valves enabled the implementation of
customized valve designs to cope with the pressure, flow
capacity and temperature demands of the world's first
twin-mega-train LNG plant.
Meanwhile, the Yokogawa Exaquantum/SSP provides continuously
updated subsea valve information from FMC Technologies SSH
(subsea historian). This timely information enables users to
take appropriate action if problems are detected, avoiding lost
For more information on the report, visit McIlvaine's website.