MRO Activities Drive Control Valve Market
15 October 2019
The ARC Advisory Group recently released new research on the control valve market. Their research revealed that the global market bounced back in 2018 after three years. A big uptick in deferred MRO (maintenance, repair and operations) activities accounted for much of this growth now that process manufacturers have pulled the trigger on several maintenance and upgrade projects that had been deferred.
“The hope is that control valve revenues for new construction project orders have yet to be recognized as we see supplier backlogs continue to grow,” said David Clayton, Research Director at ARC Advisory Group and key author of ARC’s Control Valve Global Market Research report.
Image credit: ARC Advisory Group