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“The valve positioners market to exhibit significant growth from 2019 to 2024”
The valve positioners market is expected to grow from USD 1.7 billion in 2019 to USD 2.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The growth of the market is driven by factors such as the increasing significance of control and monitoring in process industries and rising demand for fuels, energy & power. However, the growing concerns over the lack of standardized norms and government policies.
“Rising demand for single-acting positioners is expected to encourage the growth of valve positioners market during the forecast period”
The single action of the control valve can be described as the action in which positioners deliver and exhaust air from single side of the single-acting actuator. Therefore this type of positioner has an overall simple working operation. This actuator uses spring force for on and off operation of the actuator. This type of positioners is reasonably economical in price hence has a higher demand.
“Water & wastewater industry to exhibit the highest growth in valve positioners market during the forecast period”
Energy is among the major contributors to operational costs incurred by water and wastewater entities. As a result, the reduction in energy costs leads to significant savings and improve operating efficiency. Although the implementation of an energy-efficiency program has a positive impact on cost savings, it creates environmental benefits by reducing the energy footprint to provide water and wastewater services. Hence efficient management of water can be achieved by using valve positioners in control valve assemblies.
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“APAC to be the largest contributing market for valve positioners during the forecast period”
APAC is the growing market for valve positioners in various industries, such as energy & power, oil & gas, and water & wastewater, due to its fastest-growing economies. The valve positioners market in India has been catalyzed by the rising demand for power across diverse end-user industries, such as oil & gas, energy & power, and petrochemicals. However, the overall demand of the region is increasing by the rising number of process industries in the region that mainly require efficient operations.
Break-up of profiles of primary participants for the report:
- By Company type: Tier 1: 45%, Tier 2: 35%, and Tier 3: 20%
- By Designation: C-level Executives: 40%, Directors: 45%, and Others 15%
- By Region: North America: 35%, Europe: 30%, APAC: 20%, and RoW: 15%
Key players offering valve positioners include Emerson Electric (US), Flowserve (US), Metso (Finland), Rotork (UK), Schneider (France), Siemens (Germany), ABB (Switzerland), Azbil (Japan), Baker Hughes (US), and SMC (Japan). These players operate globally and provide valve positioners and related accessories.
- The market study covers the valve positioners market across various segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as type, actuation, industry, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, and key market strategies.
Key benefits of buying the Report:
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall valve positioners market and the sub-segments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.