Manufacturers offering effective quality management and superior reliability set to gain a competitive advantage, finds Frost & Sullivan
Frost & Sullivan’s latest analysis, European Industrial Valves and Actuators Market, Forecast to 2024, reveals that the primary factors driving the $5.8 billion market towards $7.05 billion by 2024 include an increased focus on automation across industries to improve operational efficiencies and initiatives like Industry 4.0 and Industrial Internet of Things (IIoT). Manufacturers offering high reliability with effective quality management systems are best positioned to harness growth prospects.
“Initiatives such as Industry 4.0 and IIoT are expected to drive the growth of smart solutions among top participants in the European valves and actuators market,” said Vinitha Viswanathan, Senior Research Analyst, Industrials at Frost & Sullivan. “However, tier I and II participants are still sceptical about investing in smart technologies due to unskilled workforce and large initial investments.”
Frost & Sullivan’s latest report, Analysis of the European Industrial Valves and Actuators Market, Forecast to 2024, deep-dives into the factors and trends influencing growth in the industrial valves and actuators sector in Europe. Major market drivers and restraints, segment-wise revenue forecast, detailed market share and competition analysis, and growth prospects are all discussed.
For further information on this analysis, please click here