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Valve Positioner Market Rising Trends, Key Leading Players, Trends Analysis, Industry Share And Forecast To 2033
Valve Positioner Market
According to The Business Research Company's, The valve positioner market size has grown strongly in recent years. It will grow from $1.82 billion in 2023 to $1.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrialization and manufacturing growth, integration with control system, growing demand in established markets, improving manufacturing and industrial practices..
The valve positioner market size is expected to see strong growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of control valve performance enhancement, industry-specific applications, shift towards predictive maintenance, expansion in emerging markets, focus on energy efficiency.. Major trends in the forecast period include industrial automation and digitalization, emphasis on operational efficiency, demand for process optimization, stringent safety and environmental regulations, integration with iiot and smart systems..
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Market Drivers and Trends:
The growing number of industries is expected to boost the growth of the valve positioner market going forward. The industries are growing mainly due to economic growth, immigration, government support, and others. A valve positioner is a device that connects to the valve stem and communicates with the process controller and actuator to determine the exact position of the valve. In various industries, valve positioners are used to control valves where precise and quick control without mistake or hysteresis are required. For instance, in December 2022, according to the report published by the United Nation Industrial Development Organization, a specialized agency of the United Nations that assists countries in economic and industrial development, in the third quarter of 2022, the worldwide manufacturing production stabilized at a reasonable 3.6% year-over-year growth rate following a lower 3.0% increase in the previous quarter. The industrial economy expanded from 2.5% year-over-year growth in the second quarter of 2022 to 3.6% growth in the third. In the third quarter of 2022, other industrializing economies outperformed the group of industrial economies, increasing output by 4.9% year over year. Therefore, the growing number of industries is driving the growth of the valve positioner market.
Major companies operating in the valve positioner market are developing innovative products such as intelligent valve positioners to meet larger customer bases, more sales, and increase revenue. An intelligent valve positioner is an advanced device used in process control systems to precisely control the position of a valve based on signals received from the process controller. For instance, in January 2021, Powerflow, a China-based provider of fluid control products, launched IP6000 series intelligent positioner. Its functionality involves regulating the air intake and exhaust of pneumatic actuators, steering the valve position toward the predetermined set point through the calculation of data derived from both the 4-20mA DC signal and feedback position. These products adhere to the unwavering quality standards synonymous with POWERFLOW positioner products. Additionally, they come with a robust after-sales policy, offering a 24-month warranty and addressing quality issues within the initial 12 months by providing a reimbursement of 2,000 yuan per unit.
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Major Key Players of the Market:
Asea Brown Boveri Ltd.; Emerson Electric Co.; Flowserve Corporation; Siemens AG; Schneider Electric SE; Baker Hughes Company; Sintered MetalCorporation; Azbil Corporation; Metso Outotec Corporation; Rotork plc; Badger Meter Inc.; General Electric Company; Valmet Corporation; Samson AG; VRG Controls Inc.; Festo Corporation; ControlAir LLC; Crane Co.; Bray International Inc.; Yokogawa Electric Corporation; Christian Bürkert GmbH & Co. KG; CIRCOR International Inc.; ControlAir Crane Co.; Dwyer Instruments Inc.; GEMÜ Gebr. Müller Apparatebau GmbH & Co. KG; Valve Related Controls Inc.; Nihon KOSO Co. Ltd.; Spirax-Sarco Limited; Honeywell International Inc.; Rotex Automation Limited; A-T Controls Inc.; Bürkert Fluid Control Systems; Danfoss A/S; Parker Hannifin Corporation; Pentair plc
Valve Positioner Market 2024 Key Insights:
• The valve positioner market will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Surge In Industries Boosts Growth In The Valve Positioner Market
• Introduce Intelligent Valve Positioners For Enhanced Process Control
• Asia-Pacific was the largest region in the valve positioner market in 2023
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