Valve Positioner Market

Market Overview

The global valve positioner market size was valued at USD 1.55 billion in 2022. It is estimated to reach USD 2.39 billion by 2031, growing at a CAGR of 4.93% during the forecast period (2023–2031). The market expansion is propelled by factors such as the flourishing urban population and increasing industries, particularly in developing economies. Moreover, there is an increased demand for these valve positioners from various process industries, which is further anticipated to boost global market growth.

Valve positioners are used in process control systems to regulate a valve's position precisely. Valves are frequently employed in many industrial applications to control the movement of fluids (such as liquids or gases) within pipelines. A valve positioner guarantees the accurate positioning of the valve to uphold the required flow rate, pressure, or other process parameters.

A valve positioner's primary role is to accept a signal from a controller, like a distributed control system or a programmable logic controller, and precisely regulate the position of the valve accordingly. This facilitates the attainment of meticulous command over the operation and guarantees that the valve reacts precisely to the control signal. Valve positioners come in several varieties, including pneumatic, electro-pneumatic, and digital positioners, each designed for specific uses and sectors. The selection of a valve positioner is contingent upon variables such as the valve type, process specifications, and the degree of automation in the industrial operation.

Market Dynamics

Market Drivers

Increasing Urbanization and Industrialization in Developing Economies

The swift process of urbanization and industrialization in developing economies like China, India, Brazil, and South Africa has resulted in a growing need for valve positioners across multiple industries, including oil and gas, water and wastewater, energy and power, metals and mining, chemicals, food and beverages, and pharmaceuticals.

Valve positioners are necessary in these industries to control the movement of fluids, gases, and steam to maintain safety, quality, and efficiency. The United Nations predicts that the worldwide urban population will rise from 4.2 billion in 2018 to 6.7 billion in 2050, with Asia and Africa accounting for 90% of this growth. The presence of significant opportunities in these regions suggests a substantial potential for growth in the valve positioners market.

Increasing Importance of Monitoring and Control in Process Industries 

The process sectors, including oil and gas, chemicals, power and energy, and water and wastewater, are encountering difficulties such as escalating energy expenses, strict environmental requirements, deteriorating infrastructure, and growing competitiveness. These difficulties necessitate the process industries to enhance the efficiency of their operations and minimize their operational expenses, energy usage, and emissions.

Valve positioners are crucial in attaining these goals as they ensure precise and dependable regulation of fluid, gas, and steam flow in the process industries. Valve positioners facilitate the supervision and regulation of many parameters, including pressure, temperature, level, and flow, thereby enhancing the output's quality and efficiency. Furthermore, valve positioners can contribute to reducing maintenance expenses and valve downtime by offering diagnostic and predictive functionalities. Such factors enhance the demand for valve positioners in these industries, boosting market growth.

Market Restraint

Lack of Proper Standardized Norms, Certifications, and Governing Policies 

Valve positioner manufacturers must comply with specific standards and requirements. Valve positioner manufacture is subject to varying certifications and policies across different areas. The certifications and policies fluctuate depending on the specific applications, sectors, and corresponding areas. The broad range of sectors, including oil and gas, food and drinks, pharmaceuticals, energy and electricity, water and wastewater, building and construction, chemicals, and paper and pulp, contributes to the diverse demand for valve positioners.

Such diversity is a limiting constraint since industry participants must modify their products to comply with regional regulations. Moreover, the absence of defined criteria and certification poses challenges when integrating valve positioners with field equipment like control valves. These factors restrict the market growth.

Market Opportunities

Advancements in Valve Positioner

In recent years, there has been a surge in the advancement of valve positioners by key players to enhance the efficiency of these positioners. For instance, in January 2021, PMV developed a user-friendly yet very sophisticated modular digital positioner. The PMV D30 digital positioner is a sophisticated engineering innovation that provides dependable and accurate valve control and is user-friendly to configure and calibrate. This is compatible with rotary and linear valves operated by double or single-action spring return actuators.

Similarly, in February 2017, Spirax Sarco, the dominant provider of equipment and services for controlling steam systems, declared the launch of the EP500. This first electro-pneumatic valve positioner is built with a focus on ergonomics. This positioner provides exceptional precision and unparalleled dependability while being effortless to install, calibrate, and operate. The EP500 features a cast aluminum shell specifically designed for outdoor installations. Such advancements are expected to create opportunities for market growth.

Regional Analysis

Based on region, the global valve positioner market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North America Dominates the Global Market

North America is the most significant global valve positioner market shareholder and is estimated to expand substantially during the forecast period. This is primarily because of the region's strong presence of established sectors such as oil and gas, chemicals, electricity and energy, and water and wastewater. Likewise, the valve positioners market in North America is now witnessing strong expansion due to advanced industrial infrastructure and the growing adoption of automation technologies. North American companies are progressively embracing valve positioners to enhance precision and efficiency in manufacturing operations. The National Association of Manufacturers' research reveals that the United States invested more than USD 243 billion in manufacturing technologies in 2022, demonstrating an unwavering dedication to technological progress. The significant investment demonstrates the region's preparedness to incorporate and assimilate cutting-edge solutions, such as valve positioners, into its industrial infrastructure.

Moreover, the market's prominence is enhanced by the participation of major industry leaders in North America, including Emerson Electric Co. and Honeywell International Inc. In addition, the region exhibits a notable prevalence of smart valve positioners and cutting-edge technologies, including IIoT, AI, and machine learning, within the process sectors. For instance, in 2020, Emerson, a prominent valve positioner maker, introduced the Fisher V280 full-bore trunnion-mounted ball control valve. This valve is specifically designed for use in North America for heavy oil and natural gas applications. Thus, all these factors are driving the regional market growth.

In Europe, the valve positioners market is flourishing due to the region's dedication to rigorous industrial safety requirements and environmental legislation. European companies are increasingly adopting valve positioners, especially in nations such as Germany and the United Kingdom, to assure adherence to rules and improve operational efficiency. The German manufacturing sector, renowned for its meticulous craftsmanship, plays a pivotal role in driving the expansion of the regional industry. Furthermore, Europe's focus on sustainable development is promoting the implementation of energy-efficient technology, such as valve positioners. For instance, the Energy Efficiency Directive of the European Union establishes lofty goals for enhancing energy efficiency in many sectors, creating a conducive atmosphere for the incorporation of advanced control systems. The enforcement of these directives stimulates industries to allocate resources towards pioneering solutions, thereby amplifying the need for valve positioners.

The Asia-Pacific region is expected to witness the highest CAGR in the forecast period. This is primarily attributed to the rapid urbanization and industrialization in emerging nations like China, India, Japan, and South Korea. These factors have resulted in a surge in demand for valve positioners across various regional industries. The region has a substantial population and an increasing demand for energy and water. Consequently, valve positioners are necessary to manage these resources efficiently and minimize waste. For instance, in 2020, ABB, a prominent supplier of valve positioners, obtained a contract to deliver 800xA distributed control systems and field devices, such as valve positioners, for a newly constructed wastewater treatment facility in Prayagraj, India. This plant will process 42 million liters of sewage daily and cater to a population of 5 million individuals.

Moreover, China's extensive manufacturing industry plays a crucial role by substantially contributing to the regional market's growth. The China Robot Industry Alliance reported that in 2022, more than 250,000 industrial robots were implemented in the country, indicating the extensive integration of automation technology. Such factors expedite the market growth in this region.

Segmental Analysis

The global valve positioner market is bifurcated into type, actuation, and industry.

Based on type, the global valve positioner market is bifurcated into pneumatic valve positioner, electro-pneumatic valve positioner, and digital valve positioner. 

The digital valve positioner segment dominates the global market. In recent years, there has been a rise in the adoption of smart or digital valve positioners, surpassing the usage of pneumatic and electro-pneumatic valve positioners. The digital valve positioner offers a smart, adaptable, and dependable solution for controlling valves. The digital valve positioner can regulate the valve's position and carry out multiple tasks, including data collection, automatic performance alerts, and assistance in diagnostics and maintenance.

Additionally, the digital valve positioner facilitates the incorporation of valve positioners into the Industrial Internet of Things (IIoT), big data analytics, artificial intelligence (AI), and machine learning. This integration can improve the plant's operational efficiency, productivity, and profitability. Moreover, the key players are launching new products in this segment, driving market growth. For instance, in November 2022, Spirax Sarco, a steam system engineering and management leader, broadened its offerings to encompass the cutting-edge SP7 and SP8 Smart Positioners.

Based on actuation, the global valve positioner market is divided into single-acting and double-acting. 

The single-acting valve positioner segment is the highest contributor to the market. Single-acting actuators transform energy, usually hydraulic or pneumatic pressure, into mechanical movement. These actuators function unidirectionally, delivering force and motion exclusively in one direction. Pneumatic actuators are commonly used in conjunction with single-acting positioners. Pneumatic actuators utilize air pressure to displace the valve precisely to a predetermined location. The positioner receives an input signal, typically in the form of a pneumatic or electrical signal, representing the desired position of the valve. Due to its cost-effectiveness, streamlined design, and easy installation, the single-acting valve positioner segment is expected to dominate the market over the projection period.

Based on industry, the global valve positioner market is bifurcated into energy and power, chemical, oil and gas, pharmaceutical, metal and mining, food and beverage, water and wastewater treatment, paper and pulp, and others. 

The oil and gas segment is the largest contributor to the market. Valve positioners are of utmost importance in the oil and gas industry since they guarantee control valves' effective and accurate functioning. The oil and gas sector segment is expected to have the biggest market share during the projected period, primarily due to the significant demand for valve positioners in various applications, including upstream, midstream, and downstream.

In numerous oil and gas applications, valves are commonly situated in distant or hazardous locations. Valve positioners facilitate remote operation by enabling the transmission of control signals across extensive distances. This is especially crucial when the human manipulation of valves is not feasible or poses a safety risk.

Recent Developments

• March 2023- Valworx officially introduced its latest collection of flange valves, which are designed to have low emissions and provide fire safety. Valworx stainless steel flange valves are certified for use in pipelines, and they also meet standards for low fugitive emissions and fire-safe design. Valworx offers stainless steel flange valves that can be operated in electric explosion-proof (On-Off/ Positioner), electric (On-Off/ Positioner), pneumatic, or manual modes.
• September 2023- Samson Controls Pvt. Ltd., a German firm, marked the commencement of construction for their new facility with a significant ceremony at their Ranjangaon plant premises. The company is a prominent maker of various valves, intelligent positioners, and smart valves and systems powered by artificial intelligence.