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After-sales Demand and Spike in the Number of Projects Propel the Middle East Industrial Valves and Actuators Market Finds Frost & Sullivan - New analysis from Frost & Sullivan, The Middle East Industrial Valves and Actuators Market, finds that the market earned revenues of over $1.2 billion in 2009 and estimates this to cross $2.0 billion by 2016
After-sales Demand and Spike in the Number of Projects Propel the Middle East Industrial Valves and Actuators Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2010/12/22 - New analysis from Frost & Sullivan, The Middle East Industrial Valves and Actuators Market, finds that the market earned revenues of over $1.2 billion in 2009 and estimates this to cross $2.0 billion by 2016.

   
 
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The proliferation of new projects and growing after-sales demand continue to spur the overall growth in the Middle East industrial valves and actuators market, even as changing geographic demand and new end user segments are poised to effect a paradigm change in the current market landscape. Future growth in this market will continue to depend largely on the oil and gas industry. However, other industrial sectors, such as power and water desalination, are expected to play a vital role in market development, as population in the Middle East grows and diversified industrialization is undertaken on a large scale.

The realization of the immense potential from hitherto languishing geographic segments such as Iraq presents immense opportunity for market growth in the future. These changes, along with changing commercial dynamics, could affect the competitive structure of the market, as companies from South Korea, India, and China increase their local presence.

New analysis from Frost & Sullivan (industrialautomation.frost.com), The Middle East Industrial Valves and Actuators Market, finds that the market earned revenues of over $1.2 billion in 2009 and estimates this to cross $2.0 billion by 2016.

If you are interested in more information on this study, please send an email to Tanu Chopra/ Nimisha Iyer, Corporate Communications, at tanu.chopra[.]frost.com / niyer[.]frost.com with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"Large scale infrastructure development and rapid industrialization provide immense opportunity within the non - oil and gas demand market," says Frost & Sullivan Research Analyst Harsha Eashwer S. "Numerous industrial city projects are currently under construction across various Middle East countries, as part of efforts to diversify the economy from oil and gas dependence, as well as to provide jobs to burgeoning populations."

Although the prospects for the market look upbeat, there are challenges that need to be addressed. One major constraint in this market is the consolidated customer base and the continuing efforts to reduce costs, which affect the companies' profit margins. This challenge can be attributed to the extremely price driven nature of the industrial valves and actuators market. Although this is a common feature across countries and end-user industries, the Middle East oil and gas industry specifically - given that the industry is largely consolidated among a few National Oil Companies (NOCs) - is able to exert a significant amount of pricing pressure.

Thus, the industry is able to demand highly competitive pricing, simultaneously requiring equipment suppliers to meet exacting quality standards. Many of the major international market participants that are able to meet these stringent quality requirements end up significantly reducing their margins while supplying to these customers. Increase in raw material and labor cost, among other rising costs, further affects profitability.

The recent economic downturn has intensified end users' sensitivity to cost, thereby facilitating an increase in the foothold of low-price valve participants from China, India, and other countries.

"Another major restraint in the near term is the prevailing tight-credit situation which is delaying various projects," says Eashwer. "However, this is not expected to be of major significance in the next 1-2 years. Major near to long-term issues, however, will arise from growing competition from low cost valve and actuator companies, the low impetus on oil exploration in Saudi Arabia due to the existing surplus, the moratorium on gas exploration in Qatar and the politico-economic instability in Iran and Iraq, among others will have a significant effect upon current market dynamics."

Observations also reveal that the locally addressable market accounted for a relatively smaller share of the total Middle East valve and actuator demand, as a majority of the new project orders are placed from international locations of the valve and actuator supplier. This trend is expected to change as the market grows, with end-users insisting on better regional presence and capabilities. Companies would also attempt to gain a competitive advantage by their local presence – as seen by the increase in local valve supplier representation over the past few years.

The Middle East Industrial Valves and Actuators Market is part of the Industrial Automation & Process Control Growth Partnership Service program, which also includes research in the following markets: The Middle East Desalination Pumps Market, Strategic Analysis of the Indian Pumps Market, The Indian Integral Horse Power Motors Market and Strategic Analysis of the Indian Manufacturing Execution Systems (MES) Market, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

The Middle East Industrial Valves and Actuators Market / P406

Contact:
Ravinder kaur, Corporate Communications – South Asia
P: +91 44 4204 4760 / F: +91 44 24314264 - E: ravinder.kaur[.]frost.com.

 
 
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After-sales Demand and Spike in the Number of Projects Propel the Middle East Industrial Valves and Actuators Market Finds Frost & Sullivan

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