DUBLIN--(BUSINESS WIRE)--The "Valve Positioners Market by Type (Electro-Pneumatic, Pneumatic, Digital), Actuation (Single-Acting, Double-Acting), Industry (Oil & Gas, Power, Water & Wastewater, Chemicals, Food & Beverages), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Valve Positioners Market is Expected to Grow from USD 1.7 Billion in 2019 to USD 2.2 Billion by 2024, at a CAGR of 5.3%
The growth of the market is driven by factors such as the increasing significance of control and monitoring in process industries and rising demand for fuels, energy & power. However, the growing concerns over the lack of standardized norms and government policies.
Rising demand for single-acting positioners is expected to encourage the growth of valve positioners market during the forecast period
The single action of the control valve can be described as the action in which positioners deliver and exhaust air from a single side of the single-acting actuator. Therefore this type of positioner has an overall simple working operation. This actuator uses spring force for on and off operation of the actuator. This type of positioners is reasonably economical in price hence has a higher demand.
Water & wastewater industry to exhibit the highest growth in valve positioners market during the forecast period
Energy is among the major contributors to operational costs incurred by water and wastewater entities. As a result, the reduction in energy costs leads to significant savings and improve operating efficiency. Although the implementation of an energy-efficiency program has a positive impact on cost savings, it creates environmental benefits by reducing the energy footprint to provide water and wastewater services. Hence efficient management of water can be achieved by using valve positioners in control valve assemblies.
APAC to be the largest contributing market for valve positioners during the forecast period
APAC is the growing market for valve positioners in various industries, such as energy & power, oil & gas, and water & wastewater, due to its fastest-growing economies. The valve positioners market in India has been catalyzed by the rising demand for power across diverse end-user industries, such as oil & gas, energy & power, and petrochemicals. However, the overall demand of the region is increasing by the rising number of process industries in the region that mainly require efficient operations.
- Increasing Importance of Monitoring and Control in Process Industries for Efficient Output
- Rising Demand for Fuel and Power
- Lack of Standardized Norms and Governing Policies
- Deployment of Iiot and Rising Awareness Regarding Digitalization
- Positioner Overshoot Hinders the Operation of Control Valves
- Keeping Pace With Advancements in IoT and Digitalization
- Baker Hughes
- Bray International
- Circor International
- Dwyer Instruments
- Emerson Electric
- Gemu Group
- Nihon Koso
- Samson Controls
- Schneider Electric
- Spirax Sarco
- Val Controls
- Valve Related Controls
- VRG Controls
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