Valve Controller Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
Valves are commonly used in a wide range of applications that are a part of processes such as wastewater treatment, chemical treatment, water cooling, feed water, and turbine control processes. Industry 4.0 is a trend that has intensified the importance of automation and efficient monitoring of processes, and this is triggering the use of valve controllers in nearly all the areas where valves are used.
The valve controller market is expected to witness healthy growth mainly due to its vast application range and high demand in various end-use industries such as chemical, oil & gas, food & beverage, water & wastewater treatment, and pharmaceutical. Manufacturers today, are investing heavily in technology to deliver state-of-the-art control mechanisms in valve controllers in order to cater to the end users’ demand for technologically advanced products.
Heightened Importance of Smart Process Control will Spur Sales
Most industries today are witnessing a complex network of interdependent and interlinked processes followed throughout the production cycles. Most of these applications involve the use of valves to carry out those processes, which must be monitored and synchronized with the utmost efficiency. Thereby, valve controllers are becoming an integral part of the processes that ensure high efficiency and accuracy.
Furthermore, most industrial areas are moving towards the adoption of process automation mechanisms, and this is triggering the demand for smart valve controllers that are integrated with high-tech features. Manufacturers in the valve controller market are introducing smart process control mechanisms that can measure and monitor various parameters such as temperature, fluid flow, and pressure through valve controllers. This trend is expected to grow enormously in the coming years, triggering the growth of the valve controller market.
Manufacturing Challenges Triggered by the Absence of Standards and Quality Norms
The valve controller market is a space with unorganized structure of governmental policies and regulations for quality and standards. Manufacturers need to keep abreast of different laws and norms in different geographical areas to cater to those particular market needs. This does not only diversify the end-user demand in terms of the features of valve controllers in different markets, but it also adds to their cost of manufacturing.
Diversity in regional policies about quality standards also enforces manufacturers to amend some product specifications, and this may also hinder players from achieving low installation costs. Due to the absence of clear, omnipresent regulations and standards, manufacturers are forced to invest more heavily in additional resources in order to set up manufacturing capabilities around the world for ensuring better compliance to regional norms.
Digital Valve Controllers High in Demand; Open New Opportunities for Innovation
With the rising trend of Industry 4.0, a mounting number of industries undergoing digital transformation and the demand for technologically advanced and high performance process components has spiralled dramatically. This is one of the leading factors that are contributing to the transition from conventional, analogue valve controllers to their digital, high-tech counterparts in most application areas.
Apart from being high-tech and next-generation in their features, digital valve controllers also bring to the table some unique advantages such as high reliability, accuracy, efficiency, and convenience over traditional valve controllers. Manufacturers are introducing smart valve controllers that can be connected to various other monitoring devices and makes the integration simpler while synchronizing all processes more efficiently.
APAC Proves Lucrative; Manufacturers Target Fast-growing End-use Industries
Asia Pacific is home to a wide range of industries including chemical, oil & gas, power & energy, water & wastewater treatment, and food & beverage. Presence of a huge number of manufacturers and suppliers in the area makes it an attractive market for valve controllers, and this is attributed for its positive growth prospects in the global markets. Growing pace of industrial operations in the Asia Pacific region is one of the prominent factors that contribute to the positive growth of the valve controller market in the region.
Also, the presence of some of the leading chemical manufacturing factories in countries like China makes it a lucrative region for players in the global valve controller market. Leading manufacturers and global leaders are expected to devise special strategies in the APAC valve controller market to target fast-growing end-use industries in the region and capture a significant market share in this region.
Emerging Players Consolidate a Large Share in the Valve Controller Market
Key players in the global valve controller market include ABB, Emerson, SMC Corporation, CIRCOR, Schneider Electric, Siemens, IMI, Flowserve Corporation, Dymax Corporation, Metso, Tokyo Keiki, Baker Hughes, Rotork, Curtiss Wright Group, Azbil, CLA-VAL, and Samson Controls. The market is highly fragmented as the number of regional, small- and medium-scale manufacturers is significantly large in this space.
Global manufacturers are also investing in their local production capabilities to offer valve controllers with tailor-made features that can meet the needs of local end-use industries. Companies are also focusing on undertaking strategies to acquire small players to expand their local and global presence while diversifying their product portfolio in the valve controller market.
Based on type, the valve controller market can be segmented as:
Based on communication protocol, the valve controller market can be segmented as:
Based on end-use industries, the valve controller market can be segmented as:
What was the market size in 2020?
The global market for valve controllers reached a valuation of around US$ 2 billion in 2020. Our analysts opine that the market will witness healthy growth at a CAGR of 3.5% during 2020 to 2030 with growing importance of controlling and monitoring with improved efficiency in various process industries.
Among many other factors, introduction to process automation with the rising trend of Industry 4.0 has triggered the demand for smart valves in most industrial areas, ultimately boosting the adoption of high-performance and advanced valve controllers.
In the next decade, the valve controller market is expected to surpass the valuation of US$ 2.5 billion.
Growth of energy and power industries along with rapidly increasing construction activities in developing countries is expected to create highly lucrative opportunities for players in the Asia Pacific market for valve controllers in the coming years.
According to our analysis, the oil & gas and chemical industries will account for a significantly large share in the adoption of the valve controllers. Also, their applications in the water & wastewater industry will also create new opportunities for players in the coming years.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report