The demand for natural gas and crude oil is witnessing a constant growth across the globe. For instance, in 2018, the oil demand globally increased by 1.3%, attributed to robust growth of the oil industry in the US. As per the International Energy Agency forecasts, the oil demand in Q3 2019 rose by 1.1 million barrels (mb)/day, signifying more than double growth compared to the previous quarter. The US and China are the most significant countries witnessing a considerable growth. The robust increase in petrochemical demand in the US resulted in enhanced consumption. Surging industrial production along with high demand for trucking services is boosting the need for petrochemicals, thereby fueling the growth of the pinch valve market. Additionally, the growth in air traffic volumes worldwide, particularly in Asia’s developing economies, is another significant factor resulting in increased oil consumption. The Organization of the Petroleum Exporting Countries (OPEC) launched ‘The 2020 OPEC World Oil Outlook’ in October 2020. According to it, the COVID-19 pandemic has led to a downturn in oil demand; however, it is expected that the global energy demand would witness constant growth in the mid-term and long-term period, rising by a noteworthy 25% to 2045. The outlook further anticipates oil to be the largest contributor in the energy mix market, contributing 27% share in 2045. The demand for oil is projected to grow at ~47 mb/day during 2022–2025 in Organization for Economic Co-Operation and Development (OECD) countries. On the other hand, the demand in non-OECD countries is projected to increase by 22.5 mb/day during the forecast period to 2045. India is anticipated to be the dominant contributor, adding ~6.3 mb/day between 2019 and 2045.
AKO ARMATUREN & SEPARATIONSTECHNIK GMBH, CLA-VAL, EMERSON ELECTRIC CO, FLOWROX OY, RED VALVE COMPANY, INC. – PROMINENT MARKET PARTICIPANTS IN PINCH VALVE MARKET
Industry 4.0 based applications make it less challenging to coordinate operations across multiple industries than ever. The mounting implementation of Industry 4.0 has led to extensive electrification and digital overhaul across the various industry. The adoption of electric pinch valves across different sectors is increasing, owing to maintain the visibility of exporting the oil & gas, chemicals, and liquid food with improved operations, transparency, and productivity. Additionally, technologies such as automation, the Internet of Things (IoT), and robotics are also gaining more prominence. The end-user industries are robustly focusing as well as investing in the integration of electric pinch valves, which are operated along with the electric actuators. These electric valves comprise bi‐directional bubble tight, centerline closure that operates efficiently at the maximum work pressure. The electric pinch valve provides a cost-effective solution for controlling the flow of media via a system and offers efficient operation to the end-users due to its capability to deliver pressurized cleaning and the mobility of media passing through it. Several significant players globally are developing and launching advanced technological pinch valves that, too, with a unique design. Thus, permit the users to attain better operational efficiency and stimulates users to invest in electric pinch valves.
The oil & gas industry is proliferating in several developing countries, such as Brazil, China, and countries in the Middle East. The industry’s growth is likely to compel the upstream and downstream activities in the countries mentioned above. Innovation and advanced technologies have released unconventional drilling and completion operations to optimize oil & gas production and change economic power balance for the predictable future. The growing investment in the sector is likely to boost oil & gas activities in the near future. As per the Indian Brand Equity Foundation, the government of India is expected to invest US$ 2.86 billion in upstream oil & gas production to increase its natural gas production by 2022. Owing to favorable government support, governments across the world are taking up numerous oil & gas projects. For instance, in August 2020, despite the impact of the global pandemic, the Ministry of Petroleum and Natural Gas has resumed 8,363 oil & gas projects valued at US$ 79.56 trillion in India.
The key companies profiled in the Pinch Valve market include NXP Semiconductors AKO Armaturen & Separationstechnik GmbH, Cla-Val, Emerson Electric Co, Flowrox Oy, Red Valve Company, Inc, RF Valves, Inc, Schubert & Salzer Control Systems GmbH, WAMGROUP S.p.A., Onyx Valve Company, and Festo. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Most of the market initiatives were observed in Europe and North America region, which have a high potential of Pinch Valve manufacturer’s. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2020 | Emerson Electric co. invested US $ 100 million to open an innovation center and to expand manufacturing facility in Boulder, Colorado, US. | North America |
| 2020 | Festo entered into a new partnership with and MassRobotics to Create Innovations in Robotics and Automation. This partnership is established to further global market growth and the development of the next generation of robotics. | Europe |
| 2020 | Flowrox Oy opened a subsidiary in Lima, Peru. This expansion improves Flowrox’s capabilities to support customers in Peru. | Europe |
