The global valve positioner market size will grow by USD 473.39 million during 2019-2023. This market report provides a detailed analysis of the market by end-users (oil and gas, water and wastewater management, power generation, chemicals, mining and minerals, and other end-users), product (pneumatic valve positioners, electro-pneumatic valve positioners, and other valve positioners), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many valve positioner manufacturers, including ABB Ltd., Badger Meter Inc., Emerson Electric Co., Flowserve Corp., General Electric Co., ITT Inc., Rotork Plc, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.
Key Insights on Valve Positioners Market - Global Forecast 2019-2023
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Industry Overview
Factors such as the depletion of fossil fuel resources and the growing demand for power have led many countries across the world to adopt renewable sources of energy such as solar, hydraulic, and wind. The increasing adoption of these renewable sources for energy production is creating a strong demand for various equipment, including control valves. Valve positioners and actuators are used in solar power plants to regulate the flow of superheated steam. In wind turbines, especially in offshore windmills, power plant operators are increasingly adopting reliable and durable control valves to withstand high variations in wind pressure, temperature, and corrosion. This ensures the optimal function of equipment with reduced maintenance checks. Advances in power generation technologies and the availability of favorable regulatory norms by governments are increasing the adoption of renewable power generation across the world. With the increasing number of power plants, the need for valve positioners will further increase in the coming years.
Key valve positioner market trends such as the increasing popularity of smart valve positioners will also fuel the market growth during the forecast period. Smart valve positioners are easy to install, and their automatic configuration and calibration abilities reduce the setup time. They are equipped with valve diagnostic functions that help in understanding the condition of valves and positioners. Smart valve positioners collect data about the functioning of valves, which can be later used to develop analytical models to enhance the operational efficiency of manufacturing plants. They can also be customized and configured according to end-user requirements. Because of these benefits, smart valve positioners are increasingly being adopted by end-users. As a result of these factors, the valve positioner market will register a CAGR of more than 4% during 2019-2023.
Top Companies in Valve Positioners Market
The global market is fragmented. To help clients improve their market positions, this valve positioner market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This valve positioner market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading valve positioner manufacturers, including:
- ABB Ltd.
- Badger Meter Inc.
- Emerson Electric Co.
- Flowserve Corp.
- General Electric Co.
- ITT Inc.
- Rotork Plc
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corp.
Market Segmentation
Valve Positioners Market by Product
- Pneumatic valve positioners
- Electro-pneumatic valve positioners
- Other valve positioners
The pneumatic valve positioner market segment held the largest market share in 2018. Pneumatic valve positioners have an anti-corrosion coating, which makes them best suited in industries such as oil and gas, chemicals, and mining and minerals. The growth of these industries is positively influencing the demand for pneumatic valve-positioners. As a result, the segment will account for the highest valve positioner market share over the forecast period as well. This report provides an accurate prediction of the contribution of all the segments to the growth of the valve positioner market size.
Valve Positioners Market by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the valve positioner market throughout the forecast period. in order to increase investments in the oil and gas industry, the Chinese government is removing the need to form a joint venture to set up production facilities in the country. China has also announced its plans to fund the generation of 450 MW of solar power in Bangladesh. Many such developments are driving valve positioner market growth in APAC.
Major Highlights of the Valve Positioners Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the valve positioner market size during the next five years
- Precise estimation of the global valve positioner market size and its contribution to the parent market
- Accurate valve positioner market forecast on upcoming trends and changes in consumer behavior
- The growth of the valve positioners industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of valve positioner manufacturers
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