PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182893
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182893
The Valve Positioner Market size was valued at USD 1,909.6 Million in 2021, expanding at a CAGR of 6.3% from 2022 to 2028.
Valve positioners are devices that aid in the placement of a valve by increasing or reducing the air load pressure on the actuator. A typical valve positioner is capable of sensing the precise position of the valve and communicating it to the actuator to move the valve.
The demand for valve positioners has increased as a result of the rising demand for oil and gas. The demand for wastewater treatment has also increased due to increased urbanization and industrialization, which has further increased the market for valve positioners. The need for digital valve positioners has also increased as smart solutions are increasingly being implemented in various plant processes. The need for valve positioners will increase in the years ahead due to an increase in the number of power plants around the world.
The global market for valve positioners is expected to grow as a result of the increased demand for smart valve positioners. Strong investments in the energy and power sectors may be one of the factors supporting the growth of the global market for valve positioners. The expansion of the global market for valve positions is driven by an increasing number of enterprises in developing nations. The intense rivalry between local producers and the lack of standards and rules and governing laws would are the two main factors limiting the growth of this industry.
The Global Valve Positioner Market is segmented based on Type, Actuation, End User, and Region.
Based on type, the market is bifurcated into Digital, Pneumatic, Electro-Pneumatic, and Others. The digital segment is expected to dominate the market over the forecast period. The expansion of smart solutions in plant operations is credited with the emergence of digital positioners. Digital valve positioners convert electrical signals to pressure signals and are powered by microprocessors. These positioners have a microprocessor-based internal logic. They strengthen diagnostic abilities because they employ a microcontroller to position the actuator and track data.
Based on end users, the market is segmented into Oil and Gas, Energy and Power, Water and Wastewater, Metals and Mining, Chemicals, Food and Beverages, Pharmaceuticals, Pulp and Paper, and Others. The oil and gas segment is expected to hold the largest market share over the forecast period. Oil and gas companies are constantly looking for new ways to reduce operating costs and boost overall plant efficiency while simultaneously meeting the world's growing demand for energy. This is a result of rising worldwide oil demand and consumption. As a result, the oil and gas industry benefits from the installation of valve positioners in control valve assemblies.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and The Middle East and Africa. The increased oil and gas exploration in the region has led to North America having the greatest market share for valve positioners. All of the major corporations, including BP, Shell, Exxon Mobil, Chevron, and Total, conduct exploration, and production activities in North America. The use of digital valve positioners in oil and gas pipelines to measure and regulate pressure. Additionally, predictive maintenance is carried out using the data generated by the digital valve positioners. The region's output is rising as a result of the rising global demand for oil and gas. Additionally, the region's market for valve positioners will grow during the forecast period as new locations are explored for exploration.
In November 2021, KDFP, an online configurator for quarter-turn actuators, was released by Festo. Engineers use the configurator to choose the actuator's size and order it fast, easily, and reliably. In addition to a pilot valve and mounting adapters or reducing sleeves for attachment on the valve body, KDFP actuator options also include a positioner, position indication, position feedback, and position feedback.
The scope of this report covers the market by its major segments, which include as follows: