PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258874
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258874
According to Stratistics MRC, the Global Valve Positioners Market is accounted for $1.8 billion in 2022 and is expected to reach $2.7 billion by 2028 growing at a CAGR of 7.6% during the forecast period. In order to move a valve actuator, valve positioners contrast a servo controller to the actuator's position. They work with both rotary and linear valves. When friction and large differential pressures are too much for the 0.2 to 1 bar pressure in the diaphragmatic chamber to handle, valve positioners are utilised.
Companies may already start utilising the Industrial Internet of Things thanks to recent advancements in data science, connectivity, and computing power. IIoT enables valve specialists to remotely check the condition of valves in a facility to ensure improved valve performance, reducing valve-related unscheduled downtimes. By monitoring valve parameters, sensor-equipped valve assemblies connected via IIoT may assist industry participants in lowering maintenance and shutdown costs, promoting the use of IIoT and valve positioners. Remote-control valve monitoring has proven beneficial for factories and industrial facilities, especially chemicals, pulp & paper, and water & sewage treatment plants. The locations of all the valves in a manufacturing may be tracked in real-time using a remote monitoring technology connected into a production facility. Hence, the market for valve positioners is improved by the introduction of digitalization.
Some clients, particularly small and medium-sized businesses (SMEs), may find the expensive cost of acquiring and implementing valve positioners to be a deterrent, which may restrict the product's uptake. Customers may find valve positioners to be less inexpensive due to high installation and maintenance costs, which might restrain market expansion. Customers may choose other, less costly choices, which might lower demand for valve positioners due to the high installation and maintenance costs. The use of valve positioners may be constrained by high installation and maintenance costs in some sectors, such as small and medium-sized businesses or locations with bad economic conditions. Consequently, a major obstacle to the adoption and expansion of the valve positioners market may be the high installation and maintenance costs. In order to solve this problem and lower the price of valve positioners for consumers, manufacturers are attempting to offer cheap alternatives.
The population growth and urbanisation are significantly expanding the industrial infrastructure. Some nations are responding swiftly and precisely to the growing issues in power, transportation, healthcare, and education. Also, by implementing the right technologies and controlling them, attempts are being made to react to natural catastrophes while boosting the inclusivity, resilience, or sustainability of communities.
Standardization may differ by geography, industry, and use. Different valves are used in a variety of sectors, including semiconductor, building & construction, oil & gas, energy & power, and oil & gas. These industries all have particular standard needs. Also, businesses are setting up production facilities all around the world to meet this issue, which calls for additional expenditures. Current valve regulations are flexible and take into account technology advancements, changing customer preferences, and good engineering practise.
The COVID-19 outbreak has severe supply-side negative repercussions on the oil and gas sector from the OPEC+ countries. The demand-side shock and the supply-side restrictions were unparalleled in this sector. In several businesses, this even created an existential risk. The decline in manufacturing across several industries also contributed to a decline in the demand for valve positioners. The pandemic so had a detrimental effect mostly on valve positioner business.
The pneumatic valve positioner segment is estimated to have a lucrative growth due to its anti-corrosion coating, pneumatic valve positioners work well in sectors including mining and minerals, chemicals, and oil and gas. The need for pneumatic valve-positioners is benefiting from the expansion of these sectors. This means that during the course of the projected period, the category will continue to have the largest market share for valve positioners. The contribution of each segment to the expansion of the valve positioner sales volume is accurately predicted in this analysis.
The pharmaceutical manufacturing segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rising R&D expenditures for the development of new drugs, the beginning of technologically advanced products, and the industry's strict adherence to quality standards. This sector requires specialised instrumentation for testing different process variables throughout all stages of the drug development lifecycle, such as formulation validation and process control at multiple scales. These variables are anticipated to boost market penetration in this industry in the near future, thereby boosting product demand internationally.
Asia Pacific is projected to hold the largest market share during the forecast period owing to fast industrialization and rising economies like China and India which have both been enjoying robust economic growth over the last few years. Moreover, supportive government programmes meant to encourage investments from abroad are also a factor in the region's rising demand. The growth of the energy industry, which comprises the oil and gas and power industries, would be caused by the rising demand for electricity. As a result, the need for valve automation products like digital positioners would increase in the area.
North America is projected to have the highest CAGR over the forecast period, owing to rising consumption for valve positioners from a variety of end-use sectors, including the oil and gas, chemical, among pharmaceutical industries, the region is anticipated to rise moderately over the projected period. Throughout the course of the projected period, it is also predicted that big corporations would increase their R&D spending. Due to its expanding population, the existence of numerous companies and significant organisations, and the country's quick technical improvements, the U.S. has a greater market for valve positioners in North America.
Some of the key players profiled in the Valve Positioners Market include: Emerson Electric Company, Cameron International Corporation, Apollo Valves, General Electric, SAMSON Controls, Baker Hughes, Yokogawa, Circor International, Siemens, ABB, Flowserve, Power-Genex, Schneider Electric SE and Rotork Plc.
In April 2022, Emerson Electric Co. released the TopWorxTM PD Series smart valve positioner, which will extend the TopWorx sensing and control products. The PD series of smart valve positioners provide complete control over the valve positioner and integrates communication with 4-20 mA loop signal.
In March 2022, Flowserve Corporation entered into an agreement with Gradiant (US), a global manufacturer and provider of cleantech water project for water treatment, to help address the most challenging problems in water and wastewater treatment.
In February 2021, Flowserve Corporation launched a low-cost Logix 3800e digital positioner. The positioner is designed to use with control valves and is available with multiple housing options used for a broad range of applications.
In October 2020, Baker Hughes Company launched next-generation SVI3 digital valve positioners designed to improve plant efficiency and process uptime with the introduction of online valve diagnostics.
In April 2020, Baker Hughes proudly announces the launch of the latest evolution in a long history of industry-leading digital valve positioners, the Masoneilan SVI3. Built upon a robust legacy platform, with billions of in-field installed operating hours, the SVI3 continues to leverage the excellence of a proven design in both reliability and performance that has made it the best in class.
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