Valve Positioner Market Opportunities, Business Forecast To 2028
The global valve positioners market size was valued at 1.90 billion in 2021 and is poised to grow at a CAGR of 5.4% during the forecast period 2023 to 2029. owing to digital innovation in valve positioner as well as growing demand in various industries. Smart valve positioners are easy to install, and their automatic configuration and calibration abilities reduce the setup time that’s why increasing popularity of smart valve positioners will also fuel the market growth during the forecast period. However, lack of standardized norms is expected to hinder the growth of this industry market.
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The global valve positioners market segmentation:
1) By Type: Electro-Pneumatic, Pneumatic, Digital.
2) Actuation: Single-Acting, Double Acting.
3) End User Industry: Oil & Gas, Energy & Power, Water & Wastewater, Metals & Mining, Chemicals, Food & Beverages, Pharmaceuticals and Others
Increasing Demand of Global Valve Positioner in Various Applications:
Valve positioner can be used in various application such as oil & gas, energy & power, water & wastewater, metals & mining, chemicals, food & beverages, pharmaceuticals and others. Development in oil & gas industries in across the world one of the key reason for growth of the valve positioner market during forecast period. Adoption of valve positioner by various industries for cutting the operational costs and improve efficiency of plant operation as well.
North America leads the Global Valve Positioner Market:
PBI’s global Valve Positioner market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, Asia Pacific has expected to dominate the revenue share owing to increasing the consumption of valve positioners in oil & gas, energy & power and water treatment industries in emerging economies. North America also has more revenue share after APAC due to presence of major industries where valve positioner are used for controlling the flow of any type of liquid. Key player of valve positioner is present in USA only such as Badger Meter, Emerson Electric Co., Flowserve Corporation and others.
Development of valve positioner products and strategic collaborations are the key strategies adopted by market players:
The global valve positioner market further reveals that the key player’s increasingly adopting strategies such as development of valve positioner products and strategic collaborations by the market players to enhance market revenue share and gaining significant geographic presence across the region. On May, 2016, Emerson has enhanced the software for its FIELDVUE DVC6200 series digital valve controllers, which are available for use by process industries with PLCs and PROFIBUS communications as the dominant protocol.
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Key player’s profiles in the report are ABB Ltd., Badger Meter Inc., Emerson Electric Co., Flowserve Corporation, General Electric Co., Rotork Plc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, Metso Corporation, Baker Hughes, and Azbil Corporation.
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