$2.2 Billion Worldwide Valve Controller Industry to 2025 - Featuring Emerson, Metso & Circor International Among Others
DUBLIN, June 11, 2020 /PRNewswire/ -- The "Valve Controller Market by Type (Traditional and Digital Valve Controller), Digital Valve Controller Communication Protocol, End-use Industry (Oil & Gas, Energy & Power, Water & Wastewater Treatment), and Geography - Global forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global valve controller market size is estimated at USD 1.8 billion in 2020 and is projected to reach USD 2.2 billion by 2025.
The valve controller market size 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 IoT & industry 4.0, the need for valve replacement, and the 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 the 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. The 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 supporting valves' inaccurate 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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Covid-19 & Oil Price Crisis Impact on Valve Controller Market: Realistic Scenario
3.2 Covid-19 & Oil Price Crisis Impact on Valve Controller Market: Optimistic Scenario
3.3 Covid-19 & Oil Price Crisis Impact on Valve Controller Market: Pessimistic Scenario
4 Premium Insights
4.1 Attractive Growth Opportunities in Valve Controller Market
4.2 Valve Controller Market, by Type
4.3 Digital Valve Controller Market, by Communication Protocol
4.4 Valve Controller Market in Apac, by Country and End-Use Industry, 2025
4.5 Valve Controller Market, by Country (2025)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Importance of Monitoring & Controlling in the Process Industries for Improved Efficiency
5.2.1.2 Increasing Demand for Fuel and Power
5.2.1.3 Growing Need for Connected Networks to Maintain and Monitor Various Equipment in Plants
5.2.1.4 Surging Focus on Establishing New Nuclear Power Plants and Upscaling of Existing Ones
5.2.2 Restraints
5.2.2.1 Lack of Standardized Norms and Governing Policies
5.2.3 Opportunities
5.2.3.1 Need for Valve Replacement and Adoption of Smart Valves
5.2.3.2 Introduction of IoT and Industry 4.0
5.2.4 Challenges
5.2.4.1 Rise in Collaboration Among Industry Players
5.3 Value Chain Analysis
5.4 Covid-19 Impact on Key End-Use Industries of Valve Controller
5.4.1 Covid-19 Impact on Oil & Gas Industry
5.4.2 Covid-19 Impact on Energy & Power Industry
5.4.3 Covid-19 Impact on Water & Wastewater Treatment Industry
6 Valve Controller Market, by Type
6.1 Introduction
6.2 Traditional Valve Controller
6.2.1 Traditional Valve Controllers Being Replaced by Digital Valve Controllers
6.3 Digital Valve Controller
6.3.1 Key Features of Digital Valve Controllers Make Them Suitable for Use Across Industries
7 Digital Valve Controller Market, by Communication Protocol
7.1 Introduction
7.2 Foundation Fieldbus
7.2.1 Foundation Fieldbus to Be the Fastest-Growing Segment
7.3 Highway Addressable Remote Transducer (Hart)
7.3.1 Widely Used Communication Protocol in Several Industries
7.4 Profibus (Process Field Bus)
7.4.1 Preferred in Process Automation Applications and for Decentralized Equipment
7.5 Others
7.5.1 Ethernet
7.5.2 Canopen
7.5.3 Modbus
7.5.4 Bluetooth
8 Valve Controller Market, by End-Use Industry
8.1 Introduction
8.2 Oil & Gas
8.2.1 Oil & Gas Industry to Witness a Major Setback in 2020 Due to Covid-19 Pandemic and Oil Price Crisis
8.3 Water & Wastewater Treatment
8.3.1 Rise in Demand for Cleaner Water and Modification in Older Water Infrastructure to Augment Demand for Valve Controllers
8.4 Energy & Power
8.4.1 Increasing Demand for Energy in Developing Countries to Boost the Market by 2025
8.5 Pharmaceutical & Healthcare
8.5.1 North America to Drive the Market in this Segment
8.6 Food & Beverage
8.6.1 Implementation of Valve Controllers Along With Control Valves Increase the Efficiency of Processes
8.7 Chemical
8.7.1 Valve Controllers Meet the Most Stringent Protection Requirements and Standards in this Industry
8.8 Building & Construction
8.8.1 Building & Construction Industry to Witness Significant Decline in 2020 Due to Covid-19 Impact on Smart Infrastructure Projects
8.9 Pulp & Paper
8.9.1 Valve Controllers Help in Predictive Maintenance of Equipment Used in Pulp & Paper Manufacturing
8.10 Metals & Mining
8.10.1 Growing Demand for Predictive Maintenance Encouraging the Use of Valve Controllers
8.11 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia-Pacific (Apac)
9.5 Rest of the World (Row)
10 Competitive Landscape
10.1 Competitive Strategies
10.2 Competitive Analysis
10.2.1 Ranking Analysis of Valve Controller Market, 2019
10.3 Competitive Scenario
10.3.1 Partnerships, Mergers, Acquisitions, and Agreements
10.3.2 Product Developments/Launches
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Dynamic Differentiators
10.4.3 Innovators
10.4.4 Emerging Companies
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Emerson
11.2.2 Metso
11.2.3 Circor International Inc.
11.2.4 ABB
11.2.5 Schneider Electric
11.2.6 Flowserve Corporation
11.2.7 Smc Corporation
11.2.8 Azbil
11.2.9 Baker Hughes
11.2.10 Rotork
11.2.11 Siemens
11.2.12 IMI
11.2.13 Cla-Val
11.2.14 Dymax Corporation
11.2.15 Tokyo Keiki
11.3 Right to Win
11.4 Other Important Players
11.4.1 Curtiss-Wright Corporation
11.4.2 Samson Controls
11.4.3 Vrg Controls
11.4.4 Power-Genex
11.4.5 Dwyer Instruments
11.4.6 Akron Brass Company
11.4.7 KSB
11.4.8 KZ Valve
11.4.9 Gefran S.P.A
11.4.10 Enovation Controls
11.4.11 Yeagle Technology Inc
11.4.12 PR Electronics 153
11.4.13 Val Controls A/S
11.4.14 Elkhart Brass Manufacturing Company, Inc.
11.4.15 Axiomatic Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/hd89dj
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article