MEETING
THE INDUSTRY The countdown to IVS – Industrial Valve Summit 2024 has started VALVEcampus, the association that gathers Italian industrial valve manufacturers. The event analysed corporate innovation and sustainability issues, delving into the strategic perspectives of the energy sector, which is currently experiencing a phase of transformation. During the conference, the results of the Market Perspectives report on the Oil & Gas Industrial Valve Industry, carried out by Roland Berger, were presented. The report showed that in the Oil&Gas sector, the industrial valve industry enjoys a very positive outlook in the short to medium term, supported by solid demand. New projects that further extend the geographical reach of local companies, starting in the Americas, then in the Middle East and Asia,
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will lead the development. In the two-year period 2023-2024, VS – Industrial Valve Summit, the most important
investment in new plants is expected to grow by an average of
international event dedicated to reference technologies and
16% over 2022 (USD 183 billion per year versus USD 158 billion),
flow control solutions, is only a few months away. The fifth
the year in which the global situation stabilised after the rebound
edition of the event, organised by Confindustria Bergamo and
in 2021 from the great contraction recorded in 2020. Despite the
Promoberg, will take place at the Bergamo Exhibition Centre, in
positive projections, investments in 2023 will stay below those of
Italy, on May 15th and 16th, 2024.
the pre-pandemic period (in 2019, USD 200 billion).
In view of 2024, the organisers are enriching the offer of events
As for alternative energy sectors, growth in hydrogen and CCUS
and opportunities for networking by creating a true valve
(carbon capture use and storage) is largely expected after 2030,
week, continuing along the event’s growth path. Starting on
with the largest share of investments in the Americas, Europe,
14 May with the opening ceremony, followed by the opening
and Asia. Demand in nuclear power is also solid, both in the
of the pavilions reserved to exhibitors, IVS will offer a valuable
short and long term.
opportunity for the players in the supply chain to meet and
In the long term, Oil & Gas is expected to experience an
discuss. The event will get into full swing on 15th and 16th May
increasing overcapacity of components compared to the market
with the halls opening the doors to the international public. In
demand. The price pressure is also expected to increase at the
2022, the Summit welcomed 12,000 visitors (+12% compared
same time. The growth sectors (in particular, those related to
to 2019) representing over 60 countries, marking a record
renewables) will only partly compensate for the contraction of
number of visitors, in addition to 300 exhibiting companies (+17%
the more traditional segments. For companies in the sector, it
compared to 2019) representing 12 countries.
will be essential to introduce a series of strategies focusing on
At the same time, the extensive calendar of conferences,
three pillars: more specialisation, product, and market; more
round tables, workshops, and laboratories of the IVS scientific
added value, moving from the production of components alone
programme will continue, proving to be a space where change
to entire solutions and systems; and more presence worldwide
can be interpreted and the latest technological innovations can
with offices and labs (local content). Objectives to be achieved
be explored, identifying and analysing the new challenges. And
through company size growth and aggregation, opening the
after the two-day exhibition, there will be a further opportunity for
market to new segments, products and services. A recipe that
foreign delegations attending the fair to meet the players in the
would enable European operators to withstand the growing
extended Oil & Gas supply chain on Friday 17 May.
pressure of global and, especially, Asian players.
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Recently, important players in the industrial valve supply chain featured “IVS Valve Industry Think Tank”, the event promoted by IVS - Industrial Valve Summit in cooperation with
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CORROSION PROTECTION | JANUARY 2024
https://industrialvalvesummit.com