MARKET REPORT
competitive products must be analyzed . The market share at various EBI- TA levels needs to be assessed and the criteria of a 20 % market share should be consistently met as the minimum target . Finally , this opportunity can be viewed as part of several different aggregations . Transfer valves used for just hydrogen would be considered a narrow focus ; another would be an aggregate for all cryogenic valve opportunities . Additionally , the option to combine the market opportunity for complementary products has proven to work well for some manufacturers and suppliers .
Many of the facts and factors that apply to one product , also apply to others . This makes it highly desirable to supply complementary products in a niche . An example of a valve company which is pursuing hydrogen with complementary products is Parker Hannifin . Parker has made over 80 acquisitions in the last five years . Clarcor , Meggit , and Bestobell all expanded the complementary product range for hydrogen . This builds on Parker ’ s hydrogen fuel cell experience dating back 50 years . Acquisitions have been important in creating this complementary portfolio . In 2017 Parker Hannifin purchased Clarcor , a company that makes liquid and gas filters . This provided opportunities from small liquid filters for pump lubrication up through the fuel cell membranes . Complete piping systems are also supplied . Hydrogen generators utilize a proton exchange membrane , which eliminates the use of liquid electrolytes .
Conclusion
There are tremendous uncertainties relative to the timing of various niche markets as well as the technology to be employed . This makes it especially important to analyze each niche and continually refocus to maximize profits . The valve industry will find challenges in determining the market and creating adaptive products that achieve a significant market share , however , companies offering complementary products for hydrogen will have an advantage .
Finding a narrow focus on various valves for hydrogen transfer enables an accumulative market opportunity amongst many niches . Industry professionals will notice the attractiveness of hydrogen in the form of renewable energy , especially to reach net-zero emissions by 2050 . In the meantime , it is important to consider all factors that pertain to this change which will , in turn , be a critical component in producing and designing new components for this global push .
ABOUT THE AUTHOR
Bob McIlvaine founded the McIlvaine Company in 1974 and oversees the work of 30 analysts and researchers . He has a BA degree from Princeton University .
www . valve-world-americas . net • March 2023 | Valve World Americas 17