Overview and Scope
A valve positioner is a device that connects to the valve stem and communicates with the process controller and actuator to determine the exact position of the valve. The process controller sends a signal to the positioner, which then sends a signal to the actuator to move the valve.
Sizing and Forecast
The valve positioner market size has grown strongly in recent years. It will grow from $1.82 billion in 2023 to $1.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrialization and manufacturing growth, integration with control system, growing demand in established markets, improving manufacturing and industrial practices..
The valve positioner market size is expected to see strong growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of control valve performance enhancement, industry-specific applications, shift towards predictive maintenance, expansion in emerging markets, focus on energy efficiency.. Major trends in the forecast period include industrial automation and digitalization, emphasis on operational efficiency, demand for process optimization, stringent safety and environmental regulations, integration with iiot and smart systems..
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Segmentation & Regional Insights
The valve positioner market covered in this report is segmented –
1) By Type: Pneumatic Valve Positioner, Electro-Pneumatic Valve Positioner, Digital Valve Positioner
2) By Actuation: Single Acting, Double Acting
3) By Industry: Oil And Gas, Water And Wastewater treatment, Energy And Power, Chemical, Pharmaceutical, Food And Beverages, Other Industries
Asia-Pacific was the largest region in the valve positioner market in 2023. Asia-Pacific is expected to be the fastest-growing region in the valve positioner market during the forecast period. The regions covered in the valve positioner market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing number of industries is expected to boost the growth of the valve positioner market going forward. The industries are growing mainly due to economic growth, immigration, government support, and others. A valve positioner is a device that connects to the valve stem and communicates with the process controller and actuator to determine the exact position of the valve. In various industries, valve positioners are used to control valves where precise and quick control without mistake or hysteresis are required. For instance, in December 2022, according to the report published by the United Nation Industrial Development Organization, a specialized agency of the United Nations that assists countries in economic and industrial development, in the third quarter of 2022, the worldwide manufacturing production stabilized at a reasonable 3.6% year-over-year growth rate following a lower 3.0% increase in the previous quarter. The industrial economy expanded from 2.5% year-over-year growth in the second quarter of 2022 to 3.6% growth in the third. In the third quarter of 2022, other industrializing economies outperformed the group of industrial economies, increasing output by 4.9% year over year. Therefore, the growing number of industries is driving the growth of the valve positioner market.
Key Industry Players
Major companies operating in the valve positioner market are developing innovative products such as smart valve positioners to meet larger customer bases, more sales, and increase revenue. A smart valve positioner is an advanced device used in process control systems to precisely control the position of a valve based on signals received from the process controller. For instance, in April 2022, Emerson Electric Co., a US-based manufacturing company, launched the TopWorxTM PD Series Smart Valve Positioner. The PD Series represents an expansion of Emerson’s existing range of TopWorx sensing and control products, delivering enhanced intelligence, reliability, and versatility to valve control applications. Distinguishing itself within the TopWorx portfolio, the PD Series offers comprehensive control over valve position by seamlessly integrating communication capabilities through a 4-20 mA loop signal and HART protocols. This intelligent communication not only provides customers with 100% control over valve positioning but also facilitates the extraction of valuable feedback. This enables monitoring for trends, offering predictive maintenance insights that help prevent potentially costly downtime, making the PD Series a standout valve positioner in terms of enhanced control and preventative maintenance features.
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