Valve Remote Control System Market Revenue to Exceed $8.0 Billion by 2023 | Emerson, Ro... - 0 views
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Almira Coyne on 27 Aug 20The valve remote control system market is expected to grow from an estimated USD 6.4 billion in 2018 to USD 8.0 billion by 2023, at a CAGR of 4.73%. An increased need for industrial valves from oil & gas production is likely to drive the valve remote control system market. Browse 63 market data Tables and 26 Figures spread through 113 Pages and in-depth TOC on "Valve Remote Control System Market" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132530162 On the basis of type, the pneumatic segment is expected to hold the largest share of the market. The pneumatic segment is projected to grow at the highest CAGR during the forecast period. The pneumatic segment is primarily driven by cranes and hoists, palletizers and de-palletizers, conveyors, automated storage, and retrieval systems. The valve remote control system plays a vital role to divert compressed air to individual pneumatic actuators, and thus drive the connected valve to open/close in the system. Increase in demand for valves & actuators for the oil & gas production is likely to boost the Middle East & Africa pneumatic valve remote control system market due to the largest petroleum reserves holding countries in the region.