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Market Drivers & Risk

The world today is being shaped by a number of long-term global trends. These trends are driving heightened demand for increasingly sophisticated engineering solutions which deliver cleaner energy, greater fuel efficiency and more effective resource utilisation. This on-going demand for innovative products and engineering expertise plays to our core strengths and is creating increased growth opportunities across the Group.

Market drivers

Climate change

Climate change is driving demand for better environmental control and improved energy efficiency.
The concerns around excessive carbon dioxide levels are driving demand for cost effective ways to increase fuel economy and cut CO2 emissions. Nowhere is this more evident than in the Commercial Vehicle sector, where our Precision Engineering division is developing technology which enables heat to be taken from the vehicle exhaust and recycled into energy to power the vehicle. This innovative waste heat recovery process helps reduce engine emissions and improves fuel efficiency.

Resource scarcity

Resource scarcity is driving demand for better environmental control and improved energy efficiency.
Resource scarcity is underpinning a rapid growth in a number of new sources of energy including liquefied natural gas (‘LNG’). However, the capital costs associated with building and running an LNG plant are extensive and increasing. The energy industry has responded by developing floating LNG platforms, a modular approach which substantially cuts capital costs and lowers the break-even point for investment. These floating LNG platforms require lighter weight components which still meet every technical requirement and performance criteria. Using its engineering expertise and proprietary technologies, our Critical Engineering division has designed and manufactured new control valves of the optimum size and weight for incorporation in floating LNG platforms. The division won the contract to supply all critical application valve packages for Prelude, the first floating LNG facility in the world.

Urbanisation

Urbanisation is driving demand for energy efficiency.
As the number of people living in cities continues to increase and the size of the world’s cities grow, energy efficiency within buildings, which consume around 40% of the world’s energy, is critical. In response to the requirement for greater energy efficiency and lower energy costs, our Hydronic Engineering division works with building designers to create optimal indoor heating and cooling systems incorporating our sophisticated valve products. IMI TA has delivered an energy efficient and sustainable heating, ventilation and air conditioning (HVAC) solution to the Spine Tower in Turkey – the second tallest building in Istanbul. Not only does the solution ensure all users can work and reside in a comfortable and well managed environment, but it also significantly reduces annual energy consumption by up to 30%.

Ageing population

An ageing population is driving demand for better management of resources.
An ageing population is putting increasing demands on global health care provision. This demand is leading to substantial increases in health care costs which is driving an increasing trend towards out-of-hospital treatment and a greater focus by healthcare providers on prevention rather than cure. As a result, our Precision Engineering division is seeing an increasing demand for miniature, lower power and yet more robust valves, such as Chipsol, for point-of-care devices such as portable ventilators. The compact 8mm footprint, Chipsol, was developed for critical fluid applications where space and power are at a premium.