CHICAGO, Nov. 16, 2022 /PRNewswire/ -- Valve positioner market is projected to grow from USD 1.8 billion in 2022 to USD 2.4 billion in 2027; it is expected to grow at a CAGR of 5.6% from 2022 to 2027according to a new report by MarketsandMarkets. The growth of the market attributed to the increasing importance of monitoring and control in process industries for efficient output and rising demand for fuel and power driving the valve positioner market.
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178 - Tables
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Digital Valve Positioner to grow at the highest CAGR between 2022 and 2027.
The digital valve positioner provides better reliability, performance and stability under low or small frequency changes. The digital valve positioner is designed to use with control valves and is available with multiple housing options used for a broad range of applications in various industries such as oil & gas, energy & power, water & wastewater treatment, among others. Furthermore, it offers online valve and positioner diagnostics for improving plant operations and flexibility for easy integration. The digital valve positioner is expected to grow at the highest CAGR during the forecast period.
Single-acting positioner is expected to register larger market share of the valve positioner market throughout the forecast period.
Valve positioners and actuators are the two most important components of a control valve body. The actuator is mainly responsible for the opening and closing mechanism of the valve. However, a valve positioner majorly helps in adjusting the position of an actuator as per the input signals for its action. Single acting positioner use spring force for the on-off operation of the actuator that supply air pressure to open the valve and a mechanical spring to close the valve. The single-acting positioner is used with both linear as well as rotary actuators.
Oil & gas industry to offer lucrative opportunities for valve positioner market.
In the oil & Gas industry safety and reliability play an essential role in the oil & gas industry. The industry faces a complex set of challenges, such as extreme operating conditions, financial constraints, profitability concerns, safety, and environmental protection. In the oil & gas processing industry, there are three major process operations-upstream, midstream, and downstream, and valve positioners have applications in all these three operations. Therefore, valve positioner offers advantages in those systems where fluctuations can impact productivity or quality. The advantages of valve positioners are they improves accuracy in the lower part of the valve stroke, where errors are more common. Similarly, the valve positioner offers fast control, consistency in varying pressures, and minimal impacts of friction which cause dead band and hysteresis.
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Asia Pacific to lead valve positioner market in 2027.
The market growth in Asia Pacific is attributed to an increasing number of process industries that require excellent control over and monitoring of processes and growing demand for energy and fuel. Rapid population growth and urbanization in developing economies such as China, Japan, and India have led to the growth of energy & power, water & wastewater treatment, chemical, pharmaceutical, and oil & gas industries. This, in turn, has increased the demand for industrial valves and their accessories, including valve positioners.
The report profiles key players in the valve positioner market with their respective market ranking analyses. Prominent players profiled in this report are Emerson Electric Co. (US), ABB (Switzerland), Flowserve Corporation (US), Siemens AG (Germany), Schneider Electric (France), SMC (Japan), Azbil Corporation (Japan), Baker Hughes Company (US), Rotork plc (UK), Valmet (Finland). Samson AG (Germany), VRG Controls (US), Festo Inc. (Germany), Badger Meter, Inc. (US), ControlAir (US), Crane Co. (US), Christian Burkert GmbH & Co. KG (Germany), GEMU Group (Germany), Dwyer Instruments LTD (US), Valve Related Controls, Inc (US), Power-Genex Ltd. (South Korea), Val Controls (Denmark), Bray International (US), Nihon KOSO Co., Ltd. (Japan), Spirax-Sarco Limited (UK).
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