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The global valve controller market size was valued at USD 1.92 billion in 2022 and is expected to register a revenue of 3.7% during the forecast period.
NEW YORK CITY, New York, USA, May 25, 2023. /EINPresswire.com/ — The global valve regulator market is valued at USD 1.92 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.7. % during the forecast period. The growth of the market is mainly due to several factors.
One of the major factors contributing to market revenue growth is the growing need for interconnected networks to monitor and control various factory equipment. Valve controllers play a crucial role in regulating the flow, temperature, pressure and level of fluids in various industrial environments. With increasing requirements for efficient monitoring and maintenance of plant equipment, the demand for valve controllers is expected to increase.
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Another driving factor is the growing adoption of smart valves and the need for valve replacement. Smart valves offer automatic opening and closing of fluids, eliminating the need for manual operation. They are also relatively easy to install, saving users time and effort. These advantages make smart valves very attractive in manufacturing, oil and gas, and residential applications.
Valve regulators are used to regulate the flow of water in the residential sector, which contributes to the growth of market revenue. By using check valves, users can significantly reduce water waste. These valves can save up to 85% of water used, addressing the growing demand for water while minimizing resource waste. Their implementation can help businesses meet environmental requirements, improve resource efficiency and reduce process variability.
Furthermore, flow control valves offer the advantage of unrestricted fluid flow. Their design prevents fluid flow from being obstructed by particles, sediment, dust and other contaminants. This feature ensures smooth operation and promotes market growth.
Market dynamics.
Driver: Increasing need for monitoring and control in process industries to increase efficiency
Process industries, which include industries such as pharmaceuticals, chemicals, water and wastewater treatment, and food and beverage manufacturing, involve complex procedures that are interrelated and interdependent. Effective coordination and timely execution of these activities are critical to the overall efficiency of the industry. To achieve this, consistent monitoring and control of operations is essential to minimize downtime, breakdowns and maximize profitability. Control valve assemblies that control and regulate the flow, temperature, and pressure of liquids or gases are increasingly used in these industries. Valve automation systems, including valve controllers, play a vital role in the accurate and rapid operation of these control valves. Valve controllers adjust the position of the control valve based on input and feedback signals, increasing their operational efficiency. Additionally, digital valve controllers support remote process monitoring, which further boosts the demand for valve controllers and contributes to market revenue growth.
Temperance. lack of regulatory laws and standards
Manufacturers of valve regulators must meet specific standards and regulations that vary between locations and industries. The wide range of applications for valve regulators, including pharmaceuticals, chemicals, water and wastewater treatment, and food and beverage, results in a diversity of demand due to specific industry requirements and regulations. This diversity creates challenges for market participants as they must adapt their products to regional regulations. therefore, it becomes difficult for manufacturers to achieve cost-effective manufacturing and installation of valve controllers. To solve this problem, companies may need to establish production sites around the world, which requires significant investment. These factors can limit the demand for valve regulators and restrain the market revenue growth.
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Competitive landscape.
The global valve regulator market has a consolidated competitive landscape with several key players operating at both the global and regional levels. These players are actively involved in product development and strategic alliances to expand their product portfolio and strengthen their position in the global market. Key players in the market include ABB Ltd., Akron Brass Company, Axiomatic Technologies Corporation, Azbil Corporation, Baker Hughes Company, Circor International Inc., Cla-Val, Curtiss-Wright Corporation , Dwyer Instruments LTD and Dymax.
These market players have implemented various initiatives to drive revenue growth such as;
On February 14, 2022, Circor International, Inc. introduced the CIR 3100 control valve, a valve body designed for a wide range of general, critical and heavy-duty applications. The valve is used in oil and gas, power generation, process industries, marine and renewable energy industries. The Circor CR 3100 control valve offers customization options with a variety of internal options and standard components and accessories, resulting in reduced inventory and maintenance costs.
These initiatives by market players contribute to the overall growth and competitiveness of the valve controllers market.
Sections included in the report:
Valve Controller Market report provides comprehensive coverage of market dynamics, trends, and growth prospects from 2019 to 2032. The market has been segmented by type, communication protocol, end use, and region.
In terms of market size, the valve controller market is valued at USD 1.92 billion in 2022 and is expected to grow at a CAGR of 3.7% during the forecast period. The market is projected to reach USD 2.75 billion in revenue by 2032.
Segmentation based on type includes traditional and digital valve controllers. Traditional valve controllers are widely used in various industries, while digital valve controllers offer advanced features and capabilities for improved control and monitoring.
On the basis of communication protocol, the market is segmented into Foundation Fieldbus, Highway Addressable Remote Transducer (HART) and ProfiBus. These communication protocols allow seamless integration and communication between valve controllers and other systems in various industrial settings.
The end-use sector covers a wide range of industries, including oil and gas, power and energy, water and wastewater treatment, pharmaceuticals and healthcare, food and beverage, chemical, building and construction, pulp and paper, metals and mining, and more. (corporation and education). Each industry has unique requirements for valve regulators, and their use varies based on specific applications and operational needs.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions show significant growth opportunities due to increasing industrialization, infrastructural development and technological advancements in various sectors.
It provides valuable insights into the market’s historical data, current trends, and future growth prospects. It includes revenue forecasts, company rankings, competitive landscape analysis, and factors influencing market growth. This comprehensive analysis helps businesses, industry professionals and investors make informed decisions on market entry, expansion and investment strategies.
Overall, the Valve Controller Market report offers detailed insight into market dynamics, segment analysis, and regional outlook, enabling stakeholders to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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