In this interview, The Managing Editor of The Energy Republic, NDUBUISI MICHEAL OBINEME, talks to Luca Pandolfi, Project Manager at IVS – Industrial Valve Summit, about the role of the summit in the oil and gas sector with emphasis on the ongoing preparations for the 5th edition of IVS Summit taking place in May 2024 in Italy, including the benefits and opportunities that abound in attending the event. Excerpts:
TER: Over the years, Industrial Valve Summit (IVS) has established itself as the leading international event for valve technologies in oil and gas sector, showcasing the latest innovations to address the challenges facing the sector. How has IVS Summit progressed over the years?
Pandolfi: The story of IVS – Industrial Valve Summit began in 2015 when Confindustria Bergamo and Promoberg launched the first edition of the event, which has always been held at the Bergamo Trade Fair in Italy.
In addition to highlighting a jewel of Made in Italy, the event was created to bring together skills, resources, and know-how with a global outlook, promoting the excellence of international production and the renowned local industry.
In 2015, the Summit recorded an influx of 3500 visitors, which rose to 8000 in the second edition.
The year 2017 marked the start of a growth path that is still in progress, demonstrating that the sector has perceived the IVS formula as a winner right from the start.
The third edition attracted more than 250 exhibitors and 10,800 visitors to Bergamo and, despite the restrictions on international travel and the delicate global scenarios that were topical in 2022, the fourth edition of IVS attracted a record 12,000 visitors from more than 60 countries, as well as almost 300 exhibiting companies.
TER: How are preparations going for the 2024 edition of the Industrial Valve Summit?
Pandolfi: Engines are already warming up ahead of the fair. We have recently opened the registration for the 5th edition of the event, scheduled to take place at the Bergamo Exhibition Centre on 15th and 16th May 2024.
The centrality of the Summit for the sector is testified by the interest of international companies and exhibitors, expressed through several registrations that are expected to grow.
At the same time, in collaboration with VALVEcampus, our scientific partner, we have unveiled the IVS 2024 conference calendar.
A total of 46 round tables, workshops, case studies, and laboratories, constitute a space where change can be interpreted and the latest innovations can be explored, identifying, and examining the challenges of the industry.
TER: What are the IVS 2024 conference and exhibition features?
Pandolfi: During the IVS 2024, we are enriching the offer with side events and moments of interaction. We are creating a true ‘valve week’, going well beyond the two-day exhibition.
The event will start on the morning of 14th May with the opening of the Summit and, in the afternoon, with the early opening of the pavilions for exhibitors and foreign delegations.
The event will get into full swing on 15th and 16th May and, following the two-day exhibition, there will be a further opportunity for foreign delegations attending the fair to meet the players in the extended oil and gas supply chain on Friday 17th May.
Furthermore, we will be organizing a gala dinner in an unprecedented location on the days of IVS 2024.
TER: As Project manager of Industrial Valve Summit, are there plans to include a country showcase platform in the panel sessions as part of the conference programme?
Pandolfi: The Summit will provide an extensive discussion forum where the context of the main markets for industrial valves and flow control solutions will be explored.
During the opening ceremony for the conference, we will present a report from the IVS-Prometeia Observatory “The Oil & Gas Valve Industry 2024”, which will provide valuable insights into the industry on a global level.
Moreover, ITA – Italian Trade Agency will be presenting a series of market studies, analyzing the state of specific markets and expanding the strategic information offering for the entire supply chain.
TER: Generally, the global valve market size is projected to witness remarkable growth from 2023 to 2033. Based on our findings, the market is anticipated to attain a valuation of US$1,066.0 million by 2033. The market is expected to thrive at a CAGR of 5.9% from 2023 to 2033. What insights and key topics will be discussed during the conference in exploring the growth opportunities in the global valve market?
Pandolfi: This topic plays a central role in the IVS scientific calendar. In this context, I would like to mention the report “Market Trends: challenges and opportunities for the companies of the Valve Supply Chain” developed by Roland Berger, which will be discussed by RB partner Leonardo Bonetti.
The study aims to delve into the focal aspects related to the development of the sector and represents the evolution of the Report ‘Perspectives and strategic options for the operators of the Oil & Gas industrial valve sector’, presented at the fifth edition of the IVS Valve Industry Think Tank.
The research revealed that in traditional energy sectors, the valve industry enjoys very positive medium-term prospects and high demand.
Between 2023-2024, investments in new plants are expected to grow by an average of 16%, surpassing 2022 market growth ($183 billion per year versus $158 billion), which is also the year the global market stabilized after the recovery from the pandemic starting from 2021.
Again, I would like to mention the IVS-Prometeia Observatory and, also, the contributions of IVS Academy Content.
TER: What is your perspective about the growth opportunities in the global valve market?
Pandolfi: The valve sector is probing more and more markets which, in turn, opens up further opportunities for expansion. The Roland Berger Report presented at the IVS Valve Industry Think Tank focused on the growth of opportunities in the areas of renewable energy sources.
The development of hydrogen and Carbon Capture Utilisation and Storage is already a reality, and a further change of pace is expected from 2030 onwards.
Excellent prospects are also evident in the large-scale distribution of water resources, such as dams and aqueducts, and in nuclear power, which presents solid demand in both the short and long term, although it remains a complex sector requiring a very high level of specialization.
TER: How would you evaluate the opportunities at the Industrial Valve Summit in terms of building industry collaboration between European companies and other companies in Africa, the Middle East, Asia, and the Americas?
Pandolfi: IVS has taken on a central role within the sector, generating growing interest from specialist operators, because the fair aims to bring together visions and partnerships between EPCs, end users, technology manufacturers, and others.
The extended supply chain has identified the event as something more than just an exhibition.
For this reason, IVS will showcase the current realities from different continents and markets.
The presence of numerous delegations of non-European professionals and decision-makers, as well as the great participation of operators from all over the world, is a good basis for creating and consolidating strategic ties.
TER: Which specific panel sessions and side events will provide more insights on technological solutions in the global valve market?
Pandolfi: Innovation and research developments in the industry are central elements of the panel discussions that will take place during the Summit days. Practically all the eight-panel sessions into which the scientific programme is structured aims to explore this aspects directly related to the technological field.
In particular, the focus of the experts will be on hot topics such as additive manufacturing; digital technologies applied to valves, actuation, and control; sealing and fugitive emissions; valve design and materials for severe services; and AI applied to mechanical design, procurement, and manufacturing.
But also, energy transition, carbon capture utilization and storage; standardization and standards development; and supply chain management. These are complemented by round tables discussing
hydrogen, analyzing market trends, the Corporate Sustainability Reporting Directive (CSRD), greenhouse gas management, and other topics.
TER: What benefits will participants get from this year’s IVS Summit?
Pandolfi: In addition to being a key event in business development, IVS is an international meeting place to read and interpret change, identifying and analyzing the challenges of the entire supply chain.
Industrial Valve Summit offers extensive networking and meeting opportunities with the major players in the global supply chain. This is also an opportunity to delve into the latest innovations and applications and examine market developments and socio-economic macro-trends. The entire conference programme is completely free of charge and features high-profile experts.
Besides the days at the fair, IVS offers a vast calendar of side events and is an ideal channel to discover the beauty of the landscape, art, architecture, and food and wine of a generous territory, ready to welcome thousands of foreign operators.