LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global valve positioners market is expected to reach USD 2,279.7 million by 2021, growing at a CAGR of almost 4%.
This research report titled ‘Global Valve Positioners Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The valve positioners industry is expected to have a steady growth throughout the forecast period as the need for improving the efficiency of industrial facilities and manufacturing plants is high. These products help in increasing the operational efficiency of valves and actuators. Value positioners have found application mainly in industrial sectors such as oil and gas and water and wastewater management. EMEA and APAC are the major revenue generating regions due to the requirement of valve positioners in these sectors.
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Technavio’s industrial automation research analysts categorize the global valve positioners market into the following segments by end-user. They are:
- Oil and gas
- Water and wastewater management
- Power generation
- Mining and minerals
The top three end-user segments for the global valve positioners market are discussed below:
Oil and gas
The use of valve positioners is expected to increase during the forecast period in the oil and gas industry. The recent decline in crude oil prices and reduction in investments have affected the entire oil and gas industry. However, the demand from developing countries for oil and gas has led to investments in new projects and developments, which is expected to create the demand for valve positioners.
According to Bharath Kanniappan, a lead automation research analyst from Technavio, “Valves and valve positioners are majorly used in oil pipelines and in transportation to control the flow of fluids. These valve positioners help in increasing the operational efficiency of valves. Actuators and valve positioners have eliminated the need for an additional personal to operate valves manually.”
Water and wastewater management
Most of the developing countries around the world do not have an established water supply system. The people in these regions are still relying on groundwater. This is one of the main reasons for governments of developing countries to invest more in water and wastewater treatment plants.
“Countries like Singapore, India, and China will be the major revenue generating markets for valve positioners in the water and wastewater management industry due to the increasing demand for potable water in these regions,” says Bharath.
Many developed countries are planning to invest in energy projects to meet the increasing demand for energy. Investments in renewable energy projects like wind and solar power generation are on the rise. However, while considering the global power generation industry, the main source for power generation is from hydro and thermal source.
The use of valves, actuators, and valve positioners is expected to increase with the growing investments in power generation industries. It has become very important for power generation plants to improve their capacity and efficiency. The use of valves, actuators, and valve positioners improves the operational efficiency of power generation plants.
The top vendors highlighted by Technavio’s research analysts in this report are:
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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