Digital Valve Positioner Market Size, Share, Growth, and Industry Analysis, By Type (Single Acting Positioner, Double Acting Positioner and Others), By Application (Oil and Gas, Chemical, Pharmaceutical Manufacturing and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Digital Valve Positioner Market REPORT OVERVIEW

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The global digital valve positioner market size was USD 1436.26 million in 2021 and market is projected to touch USD 3541.77 million by 2032 at CAGR 8.55% during the forecast period.

A valve positioner is a device mounted on the actuator that exerts or reduces air pressure as necessary to make sure the valve achieves the correct position. When there is no positioner, the control signal goes directly to the actuator. When a positioner is installed, it intercepts this signal and then outputs a different signal to the actuator. Positioners allow tighter control over the process variable by increasing the speed and accuracy of the actuator response. Because a positioner’s job is to make sure the valve is in the right place, it also helps in overcoming factors that affect control valve performance, such as friction, as well as problems like non-linearity and deadband. Positioners can also amplify or reverse an input signal as needed.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Growth in the Market

The COVID-19 problem has had an impact on the global economy, causing a strict lockdown and a halt to day-to-day activities in every industry. With the limits imposed by the government, the panic scenario has had a negative influence on the industries. This has resulted in a market drop as well; there was a direct and indirect impact from numerous sectors producing Digital Valve Positioner. With the revival of the market following COVID-19, we are seeing a recovery of the market where the blanks are restructured with product innovation and investments into R&D activities to develop advanced technologies to meet advanced requirements, which will project a proposed increase in the digital valve positioner market share in the forecasted period.

LATEST TRENDS

"Integration of Industrial Internet of Things (IIoT) Technology reshaping the Market "

The increasing integration of Industrial Internet of Things (IIoT) technology is a primary driver reshaping the market. IIoT involves connecting industrial devices and systems to the internet, enabling them to collect and exchange data. In the context of valve positioners, the integration of IIoT technology allows for real-time monitoring and control of valve performance. he integration of Industrial Internet of Things (IIoT) technology into the market has significantly transformed industrial processes. By enabling real-time monitoring and control of valve performance, IIoT has ushered in an era of enhanced efficiency and predictive maintenance. Organizations can now continuously track valve conditions, predict potential issues, and optimize maintenance schedules, resulting in improved overall performance and reduced downtime. The wealth of data generated by IIoT-enabled valve positioners facilitates data-driven decision-making, allowing companies to optimize processes, reduce energy consumption, and make informed choices about their industrial operations. Additionally, the remote monitoring and control capabilities offered by IIoT technology enable centralized management and adjustments, particularly beneficial for industries with geographically dispersed operations. As a result, the integration of IIoT into digital valve positioners represents a pivotal trend that not only enhances operational efficiency but also shapes the future of industrial automation.

Digital Valve Positioner Market SEGMENTATION

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• By Type

Based on type market is classified as Single Acting Positioner, Double Acting Positioner and Others.

• By application

Based on application market is classified as Oil and Gas, Chemical, Pharmaceutical Manufacturing and Others.

DRIVING FACTOR

"Industry 4.0 Adoption to Fuel Market Growth"

A pivotal driving factor for the market is the widespread adoption of Industry 4.0 principles across various industries. Industry 4.0 represents the fourth industrial revolution, characterized by the integration of digital technologies, smart automation, and data exchange in manufacturing and industrial processes. As industries transition towards smart factories and connected systems, the demand for advanced and intelligent control components, such as digital valve positioners, has surged. These devices play a crucial role in optimizing processes, enhancing efficiency, and facilitating real-time data monitoring and control. The Industry 4.0 framework emphasizes the importance of interconnected devices and systems for improved decision-making, predictive maintenance, and overall operational excellence. Consequently, the increasing embrace of Industry 4.0 concepts by industries worldwide acts as a significant driving force propelling the digital valve positioner market growth.

"Increasing Focus on Process Automation to Propel the Market Growth "

The rising emphasis on process automation is a primary catalyst driving the market. Industries across sectors, such as manufacturing, oil and gas, and chemical processing, are increasingly adopting automation to enhance operational efficiency, reduce manual interventions, and ensure precision in their processes. Digital valve positioners play a pivotal role in this shift towards automation by providing precise control over the positioning of valves, thereby optimizing the overall functioning of industrial systems. The demand for streamlined and automated processes is prompting industries to invest in technologies that can enhance control, reduce errors, and improve the reliability of critical processes. The escalating emphasis on process automation is a pivotal driver propelling the market forward. As industries across sectors increasingly embrace automation to enhance operational efficiency, reduce manual interventions, and ensure precision in processes, the demand for digital valve positioners has surged. The integration of these devices into automated systems results in improved operational efficiency, reduced labor dependency, enhanced precision, and faster responses to changing conditions. This shift towards automation not only streamlines processes but also brings about cost savings through minimized errors, optimized resource utilization, and improved overall system efficiency. Consequently, the overarching effect is a transformative enhancement in industrial operations, positioning digital valve positioners as integral components in the era of advanced process automation.

RESTRAINNG FACTORS

"Initial High Implementation Costs to Impede Market"

A significant restraining factor in the digital valve positioner market is the initial high implementation costs associated with acquiring and integrating these advanced devices into existing industrial systems. The upfront expenses for purchasing and installing digital valve positioners, along with the necessary infrastructure for connectivity and control, can pose a considerable financial challenge for some industries. Especially for smaller enterprises or those with tight budgets, the cost barrier may hinder widespread adoption. Additionally, the need for skilled personnel for proper installation and maintenance further contributes to the overall implementation costs. This financial constraint may dissuade certain organizations from investing in digital valve positioners, impacting the pace and extent of market growth. The high initial implementation costs create a barrier to entry for some industries, slowing down the adoption of digital valve positioners. Smaller companies or those with limited budgets may be reluctant to make the upfront investment, resulting in delayed or limited integration of these advanced devices into their processes. This, in turn, affects the overall market growth potential, as a significant portion of the industrial landscape may be hesitant to transition to digital valve positioners. Overcoming this financial challenge through innovative pricing models, subsidies, or increased awareness of long-term cost benefits will be crucial in mitigating this restraining factor and fostering broader market acceptance.

Digital Valve Positioner Market REGIONAL INSIGHTS

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"North America Expected to Hold Major Share of Market owing to Increase Industrialization"

Based on region, the market is classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa, where North America is dominating the global market and is expected to dominate during the forecast owing to the high level of industrialization, a strong focus on technological innovation, and the presence of key industries such as oil and gas, chemicals, and manufacturing. The demand for advanced automation solutions in these industries has driven the adoption of digital valve positioners.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The digital valve positioner market is extremely competitive and consists of various global and regional players. Global market is majorly driven by the top manufacturers, which holds higher share of the market. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is an extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of market players Profiled

• Metso (Finland)
• General Electric (U.S.)
• Bürkert (Germany)
• GEMU (Germany)
• Chongqing Chuanyi Automatio (China)
• Yokogawa (Japan)
• Maxonic (U.S.)
• Azbil (Japan)
• Siemens (Germany)
• Flowserve (U.S.)
• ABB (Switzerland)
• Rotork (U.K.)
• Emerson (U.S.)
• SAMSON AG (Germany)
• Schneider Electric (France)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.