Valve Controller Market : Which end use segment of the valve controller market is growing at the highest rate
According to the new research report on the " Valve Controller Market by Type (Traditional and Digital Valve Controller), Digital Valve Controller Communication Protocol, End-use Industry (Oil & Gas, Energy & Power, Water & Wastewater Treatment), and Geography - Global forecast to 2025", The valve controller market size is estimated at USD 1.8 billion in 2020 and is projected to reach USD 2.2 billion by 2025. It is expected to register a CAGR of 3.7% during the forecast period. The rising importance of monitoring and controlling in the process industries for improved efficiency, increasing demand for fuel and power, growing need for a connected network to maintain and monitor various equipment in plants, and surging focus on establishing new nuclear plants and upscaling of the existing ones are the key driving factors for the valve controller market. The introduction of IIoT & industry 4.0 and the need for valve replacement and adoption of smart valves to offer improved customer service are among the other factors fueling the valve controller market.
Browse 78 market data Tables and 50 Figures spread through 163 Pages and in-depth TOC on "Valve Controller Market by Type (Traditional and Digital Valve Controller), Digital Valve Controller Communication Protocol, End-use Industry (Oil & Gas, Energy & Power, Water & Wastewater Treatment), and Geography - Global forecast to 2025"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256969578
The digital valve controller market is projected to grow at a higher CAGR during the forecast period.
Digital valve controllers are the most widely used valve controllers due to their several applications across all industry verticals. The feedback-based controlling of the valve operation helps in better performance of the complete valve assembly. Digital valve controllers are more accurate and reliable as compared to traditional valve controllers. They are available with various communication protocols, such as FOUNDATION Fieldbus, PROFIBUS, HART, and CANopen. The use of communication protocols depends on the end-use applications and the facility they are being used at.
The HART communication protocol is projected to hold the largest share of the digital valve controller market during the forecast period.
Among all the communication protocols, HART is expected to account for the largest share of the digital valve controller market during the forecast period. HART is one of the most widely used communication protocols due to its several benefits. It supports all major field devices, works in existing 4-20mA loop, co-exists with digital communication on existing 2-wire loops, provides important information for installation and maintenance, such as tag identification, measurement values, range and range data, product information and diagnostics, and can save cable using a multidrop.
The valve controller market in North America projected to register the highest CAGR during the forecast period.
The valve controller market in North America is projected to grow register the highest CAGR during the forecast period. North America is a key market for valve controllers as the region is home to a few of the largest market players, such as Emerson, Flowserve Corporation, and SAMSON Controls. The increasing R&D activities in the region, pertaining to the use of valve controllers in automation and the rising demand for safety applications are among the crucial factors driving the market in North America. R&D at industry levels is broadening the application areas of valves and valves controllers in different industries, such as energy & power and chemical, in the US. Control valve assemblies integrated with valve controllers are used in the oil & gas, energy & power, and water & wastewater treatment industries to control media flow through a system, as well as to start, stop, or throttle the flow and ensure safe and efficient process automation.
Emerson (US), Metso (Finland), CIRCOR (US), ABB (Switzerland), Schneider Electric (France), Flowserve Corporation (US), SMC Corporation (Japan), Azbil (Japan), Baker Hughes (US), Rotork (UK), Siemens (Germany), IMI (UK), CLA-VAL (US), Dymax Corporation (US), Tokyo Keiki (Japan), Curtiss Wright Group (US), and Samson Controls (Germany) are few of the major players in the valve controller market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments: