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Content
M.S. University Sri Anjanadri Educational and Charitable Trust 1 Year Executive MBA (Core Subjects) Assignments Business Environment (3 pages per question) 1. Explain the advantages of technology transfer. 2. What are the benefits of incentives? Functional Management (3 pages per question) 1. Explain the benefits of six sigma. 2. What is a material planning? Accounting for Managers (3 pages per question) 1. What are the advantages of double entry system? 2. What is dual-aspect concept? Research Methodology for Management Decisions (3 pages per question) 1. Explain and illustrate the procedure of selecting a random sample. 2. Distinguish between convenience and purposive sampling.
HRM Specialization HRM (3 pages per question) 1. Explain the various methods of fixing wages and salaries in an organization. 2. Distinguish between fatigue and boredom. Wages and Salary Administration (3 pages per question) 1. State and explain the rules regarding annual leave with wages. 2. State the meaning of the term ‘Worker’ as defined in the factories act of 1948. Labour Laws (3 pages per question) 1. Explain the reasons for enacting labour law. 2. Give any five reasons for offering labour welfare measures. Social Processes and behavioural Issues (3 pages per question) 1. Explain the principles of learning in detail. 2. Explain the term motivation.
General Management Specialization Strategic Management (3 pages per question) 1. Explain the features of strategic business units. 2. State the different kinds of change. Corporate Communication (3 pages per question) 1. Explain the uses of teleconferencing in business. 2. Describe the purpose of listening. International Business Environment (3 pages per question) 1. What is a joint-venture? State its advantages and disadvantages. 2. What are the major features of India’s EXIM Policy? Legal Aspects of Business (3 pages per question) 1. Explain the laws related to cyber crimes. 2. What do you mean by sole proprietorship? State its merits.
Finance Specialization Financial Management (3 pages per question) 1. “Finance is the function of many”-Elucidate. 2. Name any five factors affecting cost of capital. Management of Financial Services (3 pages per question) 1. Bring out the merits and limitations of computerization in India. 2. What are the main functions of commercial banks? Security Analysis and Portfolio Management (3 pages per question) 1. Explain Sharpe’s model on portfolio. 2. Explain Markowitz model on Portfolio. International Financial Management (3 pages per question) 1. Elaborate the exchange control measures followed in India. 2. Explain the features of option forwards.
Marketing Specialization Consumer Behaviour (3 pages per question) 1)Explain any five consumer rights. 2)Traditional marketing Vs customers focused marketing. Advertising and Sales Mgt (3 pages per question) 1)Discuss the importance of communication in promotion. 2)Explain the merits and limitations of electronic media. Product Mgt (3 pages per question) 1)Define Brand. 2)Explain in detail the product development process. International marketing (3 pages per question) 1)Explain how International Marketing Planned? 2)Economic environment Vs political environment in relation to marketing.
GUIDELINES FOR PROJECT WORK
It is a part of 1 Yr Ex MBA Programme. It consists of 200 marks. 150 marks will be for project work and 50 marks for Viva. The students are accepted to score minimum of 100 marks out of 200 marks. The project work should be prepared under the guidance of qualified guide and should be under the following guidelines.
Project Work should be related to a social science Topic may be related to a company or It may be free lance project It should have minimum of 80 pages and maximum of 110 pages. The project should be typed in New Times Roman Letters only 13 or 14 font size must be used. 1.5 lines spacing must be provided between the lines. Main heading must have 16 font size, all capital letters Paragraph heading must have 14 font size, all capital letters. The entire research work must be presented in 5 chapters. Chapter – I – Introduction (20-25 Pages) Chapter – II – Research Design (3-5 Pages) a) Introduction b) Statement of the Problem c) Scope of the study d) Objective of the study e) Methodology of Research f) Sources of data g) Operational Definition of the concept h) Tools for data collection i) Sampling Technique j) Review of the Literature k) Analysis and Interpretation l) Limitations of the study m) Chapter Schemes. Chapter – III – Profile of the Company/Profile of the Respondents (5-7 pages) Chapter – IV – Analysis and Interpretation of the data (It should be presented as per the objectives) (40 pages) Chapter – V – Summary of findings and Recommendations (5-7 pages) Annexure Questionnaire Period for completion of the project – 2 months – 30th April 2011 Students can choose any guide who possess minimum of M.Phil and PhD with 10 years of
teaching experience Guidance Fee of Rs. 1000-2500 should be paid by the students for seeking the guidance. The Project work must be strictly in accordance with the above guidelines. Every student must submit the synopsis within 15th March 2011 to this current address. [email protected] a) Research Topic b) Objectives of the study c) Reason for carrying out this research. Dr. B.G. Satyaprasad 98440 31460
Table of contents for these studies is shown in the following paragraphs.
Study Overview
Economic Uncertainty Continues to Dampen Valve Shipments This study is intended to serve as an effective planning guide for control valve, actuator, and positioner suppliers and new entrants to the business. Control valves regulate the rate of fluid flow as the position of the valve plug or disk is changed by an actuator. Control valves are used to maintain a process variable as close as possible to the desired set point. In 2009, the global economic downturn continued to depress control valve supplier revenues, pushing down sales by nearly 4 percent overall compared to 2008. Uncertainty about when the recovery will start and what shape it will take continued to haunt suppliers in 2009 as many suppliers� backlog orders diminished sharply during the course of the year as new orders remained sluggish. Suppliers focused on aftermarket services and the chemical industries suffered the worst in 2009, as the demand for aftermarket services and chemicals for the automotive industry fell precipitously on a global basis. Suppliers focused heavily on the upstream oil & gas industry fared the best during 2009 as longterm project activity continued. Despite ongoing activity in some emerging countries, new order activity remains sluggish overall, and will have to pick up significantly for a complete recovery to take place in the control valve market. Strategic Issues The global control valve market has fallen on hard times as the world continues to wait for a clear sign that the global economic recession has ended. Even the rapidly expanding developing nations are not immune to this phenomenon. Consequently, control valve suppliers find themselves competing fiercely over dwindling opportunities. Key supplier recommendations and strategies for success in the global control valve market are analyzed in this study and include: • Address changing workforce demographics
• •
Increase service capabilities Benchmark the value of digital postioners
Worldwide Study Table of Contents
Executive Summary • Scope
• •
Market Size and Forecast
Strategies & Recommendations for Success Scope Market Shares List of Figures • Market Shares of the Leading Suppliers
•
Market Shares by Region o North America o Europe, Middle East, Africa o Asia o Latin America Market Shares by Industry o Chemical o Electric Power o Oil & Gas o Refining Market Shares for Control Valve Actuators
•
• • •
Market Shares for Control Valve Positioners Market Forecast List of Figures • Total Shipments of Control Valves Shipments by Region o North America o Europe, Middle East, Africa o Asia o Latin America Shipments by Hardware, Software, & Services Shipments by Sales Channel Shipments by Industry
• • •
o o o o o o o o o o •
Cement & Glass Chemical Electric Power Food & Beverage Metals & Mining Oil & Gas Pharmaceutical & Biotech Pulp & Paper Refining Water & Waste
Shipments by Component o Valves o Actuators o Positioners o Accessories Average Selling Price by Component Shipments of Actuators by Type o Pneumatic o Electric o Other Average Selling Price of Actuators by Type Shipments of Positioners by Type o Pneumatic o Electropneumatic o Digital Average Selling Price of Positioners by Type Shipments of Positioners by Communication Protocol o HART o Fieldbuses o Other
• •
• •
• •
Supplier Profiles Profiles for the major suppliers servicing this market are included. Each profile reviews the company�s business, products, and services as it applies to this market segment. Profiles include ABB, AUMA, Control Components, Dresser, Emerson Process Management, Flowserve, General Electric, Hiter, Invensys, Kurimoto, Metso, Mokveld Valves, Nakakita Seisakusho, Nihon KOSO, Rotork Controls, SAMSON, Siemens, SPX Flow Control, Tyco Flow Control, Yamatake, Yokogawa Electric.
Regional Study Table of Contents
Regional Overview Scope Regional Market Shares of the Leading Suppliers Regional Market Forecast • By Industry
• •
By Country
By Product Type Note: All category sub-segmentations are the same as shown in Worldwide Market Forecast List of Figures for this study.
Despite the Current Slowdown, Many Factors Point toward Long-Term Control Valve Growth
by Susan Perkins on 8/26/2010 11:09 AM Category: Sensors & Field Devices The year 2009 was a difficult one due to the global economic downturn for many control valve suppliers, with some of the key global suppliers suffering double-digit percentage revenue declines. Other suppliers’ shipments, however,
were buoyed by the strong backlog they had at the beginning of the year. Overall, shipments for control valves were down nearly 4 percent from 2008. The current year, 2010, looks to be even more grueling for control valve suppliers as they continue to face soft global demand, this time without the support of a healthy backlog. Despite the current pessimism, there remain a number of factors pointing towards long-term control valve growth according to a new ARC Advisory Group study.
Control valves are widely used in manufacturing applications to optimize production and lower cost in a wide range of industries, and are poised for moderate growth in the long term. “Manufacturers have recognized that automation is key to survival in the global economy and there are crucial factors that will continue to drive the use of automation, fueling control valve market growth. These automation drivers include growing demands for energy savings, higher productivity, increased production accuracy, better product quality, greater manufacturing agility to satisfy changing market demands, additional condition monitoring, better process control, increased safety functionality, greater capability for collaborative processes, and additional assurance regarding regulatory compliances,” according to Senior Analyst David Clayton, the principal author of ARC’s “Control Valve Worldwide Market Outlook”.
Long Term Supply and Demand Issue for Oil Is Critical The price, availability, and demand for oil remain key factors in the overall health of the global control valve market. While ARC has seen a temporary reduction in demand for oil, the long-term trend is clearly one of increasing demand amid shorter supply. In ARC's opinion, this will result in increased oil prices in the long term, increased investment in heavy oil production (such as oil sands), and increased investment in upstream oil & gas development and production in deep-sea fields.
Demand for Additional Electric Power Generation in Emerging Countries Is Also Key Capital spending for power generation has grown substantially in developing countries in recent years, especially in China, with high growth in India expected in the near future. The rapid expansion of the Chinese economy, especially in manufacturing, is in some cases limited by the availability of power, so pressure to develop more generation capacity is intense. This problem is magnified in India, where unreliable power infrastructure often affects manufacturing and has caused many companies to build their own power generation facilities, creating substantial demand from both public and private sources. Similar, but less intense, pressures are being felt in other emerging economies.
Developing Economies Remain the Engine for Growth Developing economies, such as China, India, and Brazil also feel the effects of the global economic crisis, shedding many growth points compared to the extremely high growth levels experienced through 2008. The developing economies, however, remain the primary growth engine for the global control valve marketplace. Emerging economies, such as those in the BRIC (Brazil, Russia, India, and China) countries, and the Middle East will continue to prop up the global control valve market with increasing consumer demand from the growing global middle class, a healthy lending environment for capital investments that project solid returns, and the need for producing and saving energy to cope with rapidly rising energy demands and costs across the globe.
For more information on this study, please visit our Market Research section.
Control Valve Worldwide Market to Exceed $4.5 Billion by 2010
-- Business & Technology News, 4 October 2006
Driven by strong project activity, the worldwide control valve market experienced double-digit growth in 2005. The worldwide market for control valves is expected to grow at a compounded annual growth rate (CAGR) exceeding 5.5 percent over the next five years. The market was roughly $3.5 billion in 2005 and is forecasted to exceed $4.5 billion in 2010, according to a new ARC Advisory Group study. The global control valve market is in the midst of a phase of unprecedented growth due to booming Greenfield plants in developing countries and exploding investment in oil & gas exploration and production. �Consequently, nearly all control valve suppliers are experiencing double-digit growth, while pressured to meet demand. This expansion phase will not last forever, so control valve suppliers would do well to prepare themselves now for the inevitable market downturn,� according to Senior Analyst David Clayton, the principal author of ARC�s �Control Valve Worldwide Outlook�. As demand for control valves has skyrocketed after years of decline, many control valve suppliers are struggling to meet the demand. The leading obstacle to meeting demand in the control valve market is limited manufacturing capacity in the foundry industry. Foundries are a necessity in the manufacture of control valves because they are used to forge steel into finished valve bodies. China and India�s dynamic and expanding economies are the main driving factors behind growth occurring in control valve, actuator, and positioner investments worldwide. China�s production is skyrocketing, reflecting its strong economic growth and signaling its emerging status as a major global manufacturing force. China, the fastest growing economy in the world, is expanding its industrial infrastructure at breakneck speed to meet growing demand from increasing consumption. Large chemical & petrochemical plants, grass-root oil & gas refineries, and new power plants are fueling much of the market growth in China.
No Slowdown in Sight for Control Valve Market
-- Top News, 14 July 2008 The worldwide control valve market enjoyed yet another year of historic double-digit growth between 2006 and 2007, and strong revenue growth is expected to continue at a CAGR of 6% over the next five years. The market reached US$4.8 billion in 2007 and is forecasted to exceed $6.4 billion in 2012, according to a new ARC Advisory Group study. Does 2007 represent the peak year for growth in the market? It was too early to tell halfway through the year, but indications show that growth could once again approach historic levels in 2008, with many of the leading control valve suppliers experiencing strong backlog with no slowdown in sight. �Control valve suppliers continued to post strong revenue growth in the first quarter of 2008. Though the North American and European markets have slowed somewhat, suppliers are relatively immune, thanks to increased demand in developing markets, such as China, India, and the Middle East, which provided strong project activity, particularly in the oil & gas sector,� according to Senior Analyst David Clayton. Hydrocarbon driver Suppliers reported big project wins in the oil & gas, refining, and petrochemical industries in the first quarter of 2008. Though the North American and European markets have slowed somewhat, suppliers are relatively immune, thanks to increased demand in developing markets, such as China, India, and the Middle East. Worldwide growth of energy production continued unabated through 2007. Global oil & gas companies continue to reap unprecedented windfall profits thanks to historically high oil prices, even as exploration costs increase and international politics play a greater role. The value of oil has also caused oil & gas companies to work to improve their monitoring processes to prevent product loss and optimize production, which will require increased adoption of intelligent field devices, including control valves. Technology advances Remaining competitive in developed markets requires a different set of product investments. Many of the �Brownfield� projects in the developed regions are now implementing FDT-based PAM solutions to provide access to data embedded in a diverse set of smart field devices and other production equipment from multiple vendors running on various
communication protocols throughout the company. To take advantage of this opportunity, control valve suppliers have been active in developing device type managers (DTMs) that enable their digital positioners to work with FDT-based PAM solutions. Many control valve suppliers are also designing their digital positioners to support EDDL for HART, Foundation Fieldbus, and Profibus as well. Another important product investment control valve suppliers are considering is the development of WirelessHART products, now that the HART Version 7 specification with WirelessHART has been approved. WirelessHART entails much more than simply adding a radio to HART field devices. The development of WirelessHART positioners enhances the functionality of HART devices, and preserves the viability of HART valve positioners indefinitely. ARC estimates only 10-15% of the nearly 25 million installed HART devices are connected to PAM systems. WirelessHART may be the enabler needed to connect these installed devices to PAM systems. Taking full advantage of the robust project activity in developing markets requires significant product investment as well. Many control valve suppliers have been forced to expand their control valve line sizes and high pressure class ratings to compete in these markets. Many of the new projects in the Middle East require extremely large valves capable of withstanding extreme temperatures while providing tight shutoff capabilities. High pressure applications in deep offshore oil wells, that often exceed 30,000 feet, require high thrusts/torque capabilities from control valves as well. Challenges remain While the extremely robust growth occurring in developing markets provides control valve suppliers a tremendous opportunity to grow their business, establishing a global supply and logistics system and designing new products for the changing needs of the global control valve market, are key challenges control valve suppliers must overcome, says ARC. The ability to guarantee delivery times is more difficult now than ever before as demand for control valves continues to increase from developing markets around the globe, and many control valve suppliers face manufacturing constraints. To ensure strong global delivery and service capabilities, control valve suppliers are finding it necessary to invest heavily in manufacturing and project engineering capabilities throughout the globe, with a particular focus in developing markets. On the supply-side of the equation, long-term agreements with foundries in North America, Europe, and Asia remain critical to protect needed capacity and lead times. Those suppliers who did not establish long-term agreements with foundries during the lean years were not prepared for the strong surge in demand and are finding it difficult to secure the valve castings necessary to meet demand
HRM Specialization HRM (3 pages per question) 1. Explain the various methods of fixing wages and salaries in an organization. 2. Distinguish between fatigue and boredom. Wages and Salary Administration (3 pages per question) 1. State and explain the rules regarding annual leave with wages. 2. State the meaning of the term ‘Worker’ as defined in the factories act of 1948. Labour Laws (3 pages per question) 1. Explain the reasons for enacting labour law. 2. Give any five reasons for offering labour welfare measures. Social Processes and behavioural Issues (3 pages per question) 1. Explain the principles of learning in detail. 2. Explain the term motivation.
General Management Specialization Strategic Management (3 pages per question) 1. Explain the features of strategic business units. 2. State the different kinds of change. Corporate Communication (3 pages per question) 1. Explain the uses of teleconferencing in business. 2. Describe the purpose of listening. International Business Environment (3 pages per question) 1. What is a joint-venture? State its advantages and disadvantages. 2. What are the major features of India’s EXIM Policy? Legal Aspects of Business (3 pages per question) 1. Explain the laws related to cyber crimes. 2. What do you mean by sole proprietorship? State its merits.
Finance Specialization Financial Management (3 pages per question) 1. “Finance is the function of many”-Elucidate. 2. Name any five factors affecting cost of capital. Management of Financial Services (3 pages per question) 1. Bring out the merits and limitations of computerization in India. 2. What are the main functions of commercial banks? Security Analysis and Portfolio Management (3 pages per question) 1. Explain Sharpe’s model on portfolio. 2. Explain Markowitz model on Portfolio. International Financial Management (3 pages per question) 1. Elaborate the exchange control measures followed in India. 2. Explain the features of option forwards.
Marketing Specialization Consumer Behaviour (3 pages per question) 1)Explain any five consumer rights. 2)Traditional marketing Vs customers focused marketing. Advertising and Sales Mgt (3 pages per question) 1)Discuss the importance of communication in promotion. 2)Explain the merits and limitations of electronic media. Product Mgt (3 pages per question) 1)Define Brand. 2)Explain in detail the product development process. International marketing (3 pages per question) 1)Explain how International Marketing Planned? 2)Economic environment Vs political environment in relation to marketing.
GUIDELINES FOR PROJECT WORK
It is a part of 1 Yr Ex MBA Programme. It consists of 200 marks. 150 marks will be for project work and 50 marks for Viva. The students are accepted to score minimum of 100 marks out of 200 marks. The project work should be prepared under the guidance of qualified guide and should be under the following guidelines.
Project Work should be related to a social science Topic may be related to a company or It may be free lance project It should have minimum of 80 pages and maximum of 110 pages. The project should be typed in New Times Roman Letters only 13 or 14 font size must be used. 1.5 lines spacing must be provided between the lines. Main heading must have 16 font size, all capital letters Paragraph heading must have 14 font size, all capital letters. The entire research work must be presented in 5 chapters. Chapter – I – Introduction (20-25 Pages) Chapter – II – Research Design (3-5 Pages) a) Introduction b) Statement of the Problem c) Scope of the study d) Objective of the study e) Methodology of Research f) Sources of data g) Operational Definition of the concept h) Tools for data collection i) Sampling Technique j) Review of the Literature k) Analysis and Interpretation l) Limitations of the study m) Chapter Schemes. Chapter – III – Profile of the Company/Profile of the Respondents (5-7 pages) Chapter – IV – Analysis and Interpretation of the data (It should be presented as per the objectives) (40 pages) Chapter – V – Summary of findings and Recommendations (5-7 pages) Annexure Questionnaire Period for completion of the project – 2 months – 30th April 2011 Students can choose any guide who possess minimum of M.Phil and PhD with 10 years of
teaching experience Guidance Fee of Rs. 1000-2500 should be paid by the students for seeking the guidance. The Project work must be strictly in accordance with the above guidelines. Every student must submit the synopsis within 15th March 2011 to this current address. [email protected] a) Research Topic b) Objectives of the study c) Reason for carrying out this research. Dr. B.G. Satyaprasad 98440 31460
Table of contents for these studies is shown in the following paragraphs.
Study Overview
Economic Uncertainty Continues to Dampen Valve Shipments This study is intended to serve as an effective planning guide for control valve, actuator, and positioner suppliers and new entrants to the business. Control valves regulate the rate of fluid flow as the position of the valve plug or disk is changed by an actuator. Control valves are used to maintain a process variable as close as possible to the desired set point. In 2009, the global economic downturn continued to depress control valve supplier revenues, pushing down sales by nearly 4 percent overall compared to 2008. Uncertainty about when the recovery will start and what shape it will take continued to haunt suppliers in 2009 as many suppliers� backlog orders diminished sharply during the course of the year as new orders remained sluggish. Suppliers focused on aftermarket services and the chemical industries suffered the worst in 2009, as the demand for aftermarket services and chemicals for the automotive industry fell precipitously on a global basis. Suppliers focused heavily on the upstream oil & gas industry fared the best during 2009 as longterm project activity continued. Despite ongoing activity in some emerging countries, new order activity remains sluggish overall, and will have to pick up significantly for a complete recovery to take place in the control valve market. Strategic Issues The global control valve market has fallen on hard times as the world continues to wait for a clear sign that the global economic recession has ended. Even the rapidly expanding developing nations are not immune to this phenomenon. Consequently, control valve suppliers find themselves competing fiercely over dwindling opportunities. Key supplier recommendations and strategies for success in the global control valve market are analyzed in this study and include: • Address changing workforce demographics
• •
Increase service capabilities Benchmark the value of digital postioners
Worldwide Study Table of Contents
Executive Summary • Scope
• •
Market Size and Forecast
Strategies & Recommendations for Success Scope Market Shares List of Figures • Market Shares of the Leading Suppliers
•
Market Shares by Region o North America o Europe, Middle East, Africa o Asia o Latin America Market Shares by Industry o Chemical o Electric Power o Oil & Gas o Refining Market Shares for Control Valve Actuators
•
• • •
Market Shares for Control Valve Positioners Market Forecast List of Figures • Total Shipments of Control Valves Shipments by Region o North America o Europe, Middle East, Africa o Asia o Latin America Shipments by Hardware, Software, & Services Shipments by Sales Channel Shipments by Industry
• • •
o o o o o o o o o o •
Cement & Glass Chemical Electric Power Food & Beverage Metals & Mining Oil & Gas Pharmaceutical & Biotech Pulp & Paper Refining Water & Waste
Shipments by Component o Valves o Actuators o Positioners o Accessories Average Selling Price by Component Shipments of Actuators by Type o Pneumatic o Electric o Other Average Selling Price of Actuators by Type Shipments of Positioners by Type o Pneumatic o Electropneumatic o Digital Average Selling Price of Positioners by Type Shipments of Positioners by Communication Protocol o HART o Fieldbuses o Other
• •
• •
• •
Supplier Profiles Profiles for the major suppliers servicing this market are included. Each profile reviews the company�s business, products, and services as it applies to this market segment. Profiles include ABB, AUMA, Control Components, Dresser, Emerson Process Management, Flowserve, General Electric, Hiter, Invensys, Kurimoto, Metso, Mokveld Valves, Nakakita Seisakusho, Nihon KOSO, Rotork Controls, SAMSON, Siemens, SPX Flow Control, Tyco Flow Control, Yamatake, Yokogawa Electric.
Regional Study Table of Contents
Regional Overview Scope Regional Market Shares of the Leading Suppliers Regional Market Forecast • By Industry
• •
By Country
By Product Type Note: All category sub-segmentations are the same as shown in Worldwide Market Forecast List of Figures for this study.
Despite the Current Slowdown, Many Factors Point toward Long-Term Control Valve Growth
by Susan Perkins on 8/26/2010 11:09 AM Category: Sensors & Field Devices The year 2009 was a difficult one due to the global economic downturn for many control valve suppliers, with some of the key global suppliers suffering double-digit percentage revenue declines. Other suppliers’ shipments, however,
were buoyed by the strong backlog they had at the beginning of the year. Overall, shipments for control valves were down nearly 4 percent from 2008. The current year, 2010, looks to be even more grueling for control valve suppliers as they continue to face soft global demand, this time without the support of a healthy backlog. Despite the current pessimism, there remain a number of factors pointing towards long-term control valve growth according to a new ARC Advisory Group study.
Control valves are widely used in manufacturing applications to optimize production and lower cost in a wide range of industries, and are poised for moderate growth in the long term. “Manufacturers have recognized that automation is key to survival in the global economy and there are crucial factors that will continue to drive the use of automation, fueling control valve market growth. These automation drivers include growing demands for energy savings, higher productivity, increased production accuracy, better product quality, greater manufacturing agility to satisfy changing market demands, additional condition monitoring, better process control, increased safety functionality, greater capability for collaborative processes, and additional assurance regarding regulatory compliances,” according to Senior Analyst David Clayton, the principal author of ARC’s “Control Valve Worldwide Market Outlook”.
Long Term Supply and Demand Issue for Oil Is Critical The price, availability, and demand for oil remain key factors in the overall health of the global control valve market. While ARC has seen a temporary reduction in demand for oil, the long-term trend is clearly one of increasing demand amid shorter supply. In ARC's opinion, this will result in increased oil prices in the long term, increased investment in heavy oil production (such as oil sands), and increased investment in upstream oil & gas development and production in deep-sea fields.
Demand for Additional Electric Power Generation in Emerging Countries Is Also Key Capital spending for power generation has grown substantially in developing countries in recent years, especially in China, with high growth in India expected in the near future. The rapid expansion of the Chinese economy, especially in manufacturing, is in some cases limited by the availability of power, so pressure to develop more generation capacity is intense. This problem is magnified in India, where unreliable power infrastructure often affects manufacturing and has caused many companies to build their own power generation facilities, creating substantial demand from both public and private sources. Similar, but less intense, pressures are being felt in other emerging economies.
Developing Economies Remain the Engine for Growth Developing economies, such as China, India, and Brazil also feel the effects of the global economic crisis, shedding many growth points compared to the extremely high growth levels experienced through 2008. The developing economies, however, remain the primary growth engine for the global control valve marketplace. Emerging economies, such as those in the BRIC (Brazil, Russia, India, and China) countries, and the Middle East will continue to prop up the global control valve market with increasing consumer demand from the growing global middle class, a healthy lending environment for capital investments that project solid returns, and the need for producing and saving energy to cope with rapidly rising energy demands and costs across the globe.
For more information on this study, please visit our Market Research section.
Control Valve Worldwide Market to Exceed $4.5 Billion by 2010
-- Business & Technology News, 4 October 2006
Driven by strong project activity, the worldwide control valve market experienced double-digit growth in 2005. The worldwide market for control valves is expected to grow at a compounded annual growth rate (CAGR) exceeding 5.5 percent over the next five years. The market was roughly $3.5 billion in 2005 and is forecasted to exceed $4.5 billion in 2010, according to a new ARC Advisory Group study. The global control valve market is in the midst of a phase of unprecedented growth due to booming Greenfield plants in developing countries and exploding investment in oil & gas exploration and production. �Consequently, nearly all control valve suppliers are experiencing double-digit growth, while pressured to meet demand. This expansion phase will not last forever, so control valve suppliers would do well to prepare themselves now for the inevitable market downturn,� according to Senior Analyst David Clayton, the principal author of ARC�s �Control Valve Worldwide Outlook�. As demand for control valves has skyrocketed after years of decline, many control valve suppliers are struggling to meet the demand. The leading obstacle to meeting demand in the control valve market is limited manufacturing capacity in the foundry industry. Foundries are a necessity in the manufacture of control valves because they are used to forge steel into finished valve bodies. China and India�s dynamic and expanding economies are the main driving factors behind growth occurring in control valve, actuator, and positioner investments worldwide. China�s production is skyrocketing, reflecting its strong economic growth and signaling its emerging status as a major global manufacturing force. China, the fastest growing economy in the world, is expanding its industrial infrastructure at breakneck speed to meet growing demand from increasing consumption. Large chemical & petrochemical plants, grass-root oil & gas refineries, and new power plants are fueling much of the market growth in China.
No Slowdown in Sight for Control Valve Market
-- Top News, 14 July 2008 The worldwide control valve market enjoyed yet another year of historic double-digit growth between 2006 and 2007, and strong revenue growth is expected to continue at a CAGR of 6% over the next five years. The market reached US$4.8 billion in 2007 and is forecasted to exceed $6.4 billion in 2012, according to a new ARC Advisory Group study. Does 2007 represent the peak year for growth in the market? It was too early to tell halfway through the year, but indications show that growth could once again approach historic levels in 2008, with many of the leading control valve suppliers experiencing strong backlog with no slowdown in sight. �Control valve suppliers continued to post strong revenue growth in the first quarter of 2008. Though the North American and European markets have slowed somewhat, suppliers are relatively immune, thanks to increased demand in developing markets, such as China, India, and the Middle East, which provided strong project activity, particularly in the oil & gas sector,� according to Senior Analyst David Clayton. Hydrocarbon driver Suppliers reported big project wins in the oil & gas, refining, and petrochemical industries in the first quarter of 2008. Though the North American and European markets have slowed somewhat, suppliers are relatively immune, thanks to increased demand in developing markets, such as China, India, and the Middle East. Worldwide growth of energy production continued unabated through 2007. Global oil & gas companies continue to reap unprecedented windfall profits thanks to historically high oil prices, even as exploration costs increase and international politics play a greater role. The value of oil has also caused oil & gas companies to work to improve their monitoring processes to prevent product loss and optimize production, which will require increased adoption of intelligent field devices, including control valves. Technology advances Remaining competitive in developed markets requires a different set of product investments. Many of the �Brownfield� projects in the developed regions are now implementing FDT-based PAM solutions to provide access to data embedded in a diverse set of smart field devices and other production equipment from multiple vendors running on various
communication protocols throughout the company. To take advantage of this opportunity, control valve suppliers have been active in developing device type managers (DTMs) that enable their digital positioners to work with FDT-based PAM solutions. Many control valve suppliers are also designing their digital positioners to support EDDL for HART, Foundation Fieldbus, and Profibus as well. Another important product investment control valve suppliers are considering is the development of WirelessHART products, now that the HART Version 7 specification with WirelessHART has been approved. WirelessHART entails much more than simply adding a radio to HART field devices. The development of WirelessHART positioners enhances the functionality of HART devices, and preserves the viability of HART valve positioners indefinitely. ARC estimates only 10-15% of the nearly 25 million installed HART devices are connected to PAM systems. WirelessHART may be the enabler needed to connect these installed devices to PAM systems. Taking full advantage of the robust project activity in developing markets requires significant product investment as well. Many control valve suppliers have been forced to expand their control valve line sizes and high pressure class ratings to compete in these markets. Many of the new projects in the Middle East require extremely large valves capable of withstanding extreme temperatures while providing tight shutoff capabilities. High pressure applications in deep offshore oil wells, that often exceed 30,000 feet, require high thrusts/torque capabilities from control valves as well. Challenges remain While the extremely robust growth occurring in developing markets provides control valve suppliers a tremendous opportunity to grow their business, establishing a global supply and logistics system and designing new products for the changing needs of the global control valve market, are key challenges control valve suppliers must overcome, says ARC. The ability to guarantee delivery times is more difficult now than ever before as demand for control valves continues to increase from developing markets around the globe, and many control valve suppliers face manufacturing constraints. To ensure strong global delivery and service capabilities, control valve suppliers are finding it necessary to invest heavily in manufacturing and project engineering capabilities throughout the globe, with a particular focus in developing markets. On the supply-side of the equation, long-term agreements with foundries in North America, Europe, and Asia remain critical to protect needed capacity and lead times. Those suppliers who did not establish long-term agreements with foundries during the lean years were not prepared for the strong surge in demand and are finding it difficult to secure the valve castings necessary to meet demand
