Northbrook, IL 60062 -- (SBWIRE) -- 11/28/2022 -- The valve positioner market is projected to grow from USD 1.8 billion in 2022 to USD 2.4 billion in 2027 at a CAGR of 5.6% from 2022 to 2027. Increasing adaption of valve positioners in oil & gas, water & wastewater treatment, energy & power, food & beverage, etc, to reduce their operating costs and enhance the overall efficiency of their plants is driving the market growth.
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Artificial intelligence (AI) is one of the most emerging technologies providing various benefits to end users. The world is adopting machine learning (ML) technology, which is becoming a fundamental part of various fields for solving multiple problem statements and making better decisions and predictions. Predictive analytics is an area of focus for the valves industry to reduce downtime, predict process failures due to valve malfunctioning, avoid breakdown of processes, and take preventive measures for enhancing plant efficiency. AI is used to create a generative design-based software that can help design multi-objective optimized valves. The software uses AI to instantly generate a valve design for a desired flow performance requirement. Such features would enable the manufacturers to design and provide products according to the requirements of customers within a stipulated time.
The digital valve positioner is expected to grow at the highest CAGR between 2022 to 2027. A digital valve positioner uses microprocessors to convert electric signals to pressure signals. These microprocessors are used to position the actuator and keep records and help in online valve diagnostics, which improve plant efficiency and process uptime. These positioners have excellent diagnostic and predictive maintenance capabilities; thereby, they are also known as smart valve positioners. ABB (Switzerland), Flowserve Corporation (US), Schneider Electric (France), SMC (Japan), Azbil Corporation (Japan), Baker Hughes Company (US), and Rotork plc (UK) are some of the companies that offer digital or smart valve positioners to the process industry such as oil & gas, food & beverage, chemical, energy & power, water & wastewater treatment, etc.
The market for single-acting valve positioners is expected to grow at the highest CAGR between 2022 and 2027. The market growth for single-acting positioners can be attributed to its simplified working mechanism and higher installation, especially in linear valves. The single-acting positioner is used with diaphragm-actuated, sliding-stem control valve assemblies. These valve positioners act when they receive an input signal from the control device and then supply pressure to the control valve actuators to provide an accurate stem position. ABB (Switzerland), Rotork plc (UK), Azbil Corporation (Japan), Valmet (Finland), GEMU Group (Germany) are some of the other companies offering single-acting positioners.
The focus of industry players are now shifting to offering improved customer services. Therefore, to build a strong relationship with its client, manufacturers are focusing on meeting the 'client's requirements and identifying & addressing their issues rather than suggesting they buy new valves positioner. Gradually, the valve positioner market is becoming more competitive; therefore, valve positioner providers give more importance to providing services, such as valve maintenance, installation, repair, and customer services, which enables them to achieve a competitive edge. For instance, 'Emerson's technical support services include manufacturing tailor-made components and adding them to the service-level agreements to improve responsiveness and productivity, along with providing system reports and diagnostics. Providing proactive support to match the customers' needs allows them to eliminate disruptive activities and downtime costs.