“The valve controller market is projected to register a CAGR of 3.7% from 2020 to 2025.”
The valve controller market size is estimated at USD 1.8 billion in 2020 and is projected to reach USD 2.2 billion by 2025. It is expected to register a CAGR of 3.7% during the forecast period. The rising importance of monitoring and controlling in the process industries for improved efficiency, increasing demand for fuel and power, growing need for a connected network to maintain and monitor various equipment in plants, and surging focus on establishing new nuclear plants and upscaling of the existing ones are the key driving factors for the valve controller market. The introduction of IIoT & industry 4.0, the need for valve replacement, and adoption of smart valves to offer improved customer service are among the other factors fueling the valve controller market. However, a rise in collaboration among industry players can hamper the growth of the valve controller market.
“The digital valve controller market is projected to hold a larger share during the forecast period.”
Digital valve controllers are the most widely used valve controllers due to their several applications across all industry verticals. The feedback-based controlling of the valve operation helps in better performance of the complete valve assembly. Digital valve controllers are more accurate and reliable as compared to traditional valve controllers. For example, in China, at one of the world’s largest integrated chemical facilities, instrument engineers faced pipeline vibration that was destroying a steam service valve’s instrumentation. Since it was not feasible to change the process conditions or piping, the valve positioner had to be replaced about every three months. However, to solve this problem, a DVC6200f (offered by Emerson) was installed to take advantage of the unit’s resistance to high levels of vibration, as well as its FOUNDATION Fieldbus communications capability. The digital valve controller performed accurately and reliably, saving the facility USD 40,000 per year for replacement of instruments. Such applications are replacing the valve positioners or traditional valve controllers with digital valve controllers.
“The chemical end-use industry is expected to hold the largest share of the valve controller market from 2020 to 2025.”
Valves in the chemical industry are subject to handling media, such as abrasive silica, molten slurry, liquefied wax, high-velocity hard particles, corrosive attacks, and fugitive emissions. Efficient performance of valves in this industry not only ensures the process of integrity and staff safety, but also enhances the volume and rate at which the plant can produce products, thereby enhancing profitability. In the typical chemical and petrochemical plants, valves are used in diversified plant operations that include feed pumps, compressors, furnaces, reactors, exchangers, separators, letdown systems, fluid management systems, condensers, and steam lines for pressure flow control, abrasion, corrosion, scaling and erosion, emission, cleaning, pressure-assisted sealing, and others. Manufacturers operating in this industry, focus on enhancing the business processes by implementing valve controllers. In chemical plants, hazardous reactions may occur if chemicals come in contact with reactive materials. Therefore, control valves are used in plants to reduce emissions, increase plant safety, and protect the environment while valve controllers are used to support valves in accurate positioning and performance.
“APAC is projected to hold the largest share of the valve controller market.”
APAC is expected to hold the largest share of the valve controller market. Rapid population growth and urbanization in developing economies, such as China, Japan, and India, have led to the growth of energy & power, water & wastewater treatment, construction, chemical, pharmaceutical, and oil & gas industries in the region. This, in turn, increased the demand for control valve assemblies with valve controllers until 2019. However, COVID-19, a global health emergency and also an economic crisis, has hit the valve controller market in 2020 adversely. The valve controller market is expected to witness a significant decline as few of the major industries adopting valves and valve controllers are oil & gas, energy & power, and water & wastewater treatment. These industries are non-operational due to several government implications that include lockdown, foreign trade, and a halt on the supply of non-essential goods & services as precautionary measures for the safety of people. There is also a huge supply-demand gap due to the decline in global demand.
Breakdown of profiles of primary participants:
- By Company Type: Tier 1 = 56%, Tier 2 = 23%, and Tier 3 = 21%
- By Designation: C-level Executives = 75% and Directors = 25%
- By Region: North America = 40%, Europe = 23%, APAC = 26%, and RoW = 11%
Emerson (US), Metso (Finland), CIRCOR (US), ABB (Switzerland), Schneider Electric (France), Flowserve Corporation (US), SMC Corporation (Japan), Azbil (Japan), Baker Hughes (US), Rotork (UK), Siemens (Germany), IMI (UK), CLA-VAL (US), Dymax Corporation (US), Tokyo Keiki (Japan), Curtiss Wright Group (US), and Samson Controls (Germany) are few of the major players in the valve controller market.
Research Coverage:
This report segments the valve controller market based on type, DVC by communication protocol, and end-use industry. The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
- This report includes statistics pertaining to the valve controller market based on type, DVC by communication protocol, end-use industry, and region, along with their respective market sizes.
- Major drivers, restraints, opportunities, and challenges for the valve controller market have been provided in detail in this report.
- The report includes illustrative segmentation, analysis, and forecast for the valve controller market based on its segments and sub-segments.
