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.
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The world is facing an economic crisis caused by the COVID-19 pandemic outbreak. The pandemic has affected the oil & gas industry negatively, with oil prices slashing like never before. The major producers of oil are running out of storage space for extracted oil, and the demand is on a declining trend. This has resulted in a huge gap between supply and demand. Oil & gas is one of the key industries of valves and valve controllers. Water & wastewater treatment and energy & power are also among the key end-use industries of valve controllers. These industries are also witnessing a setback in demand due to the pandemic situation globally. There is a restriction on foreign trades due to the lockdown of international borders, non-operational distribution channels, and various government laws to take precautionary measures for public health and safety. However, it is expected that there will be an increasing focus on hygiene and sanitation due to the rise in people’s concern for a better and safer lifestyle. An increase in demand from the energy & power sector is also likely to drive the valve controller market for water & wastewater treatment and energy & power segments gradually from 2021 to 2025.
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 valve controller market in North America is projected to register the highest CAGR during the forecast period. North America is a key market for valve controller as the region is home to a few of the leading 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 valve controllers in different industries. However, right from the start of 2020, the entire world has been strongly hit by the COVID-19 pandemic, a health crisis, as well as an economic crisis. The US is among the most affected countries in the world. The COVID-19 pandemic has plummeted the oil demand drastically. This drop in demand has affected the valve controller market drastically in 2020.
The global Electronic Expansion Valve Controller Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the electronic expansion valve controller market include Emerson, CAREL, Sanhua, Kahan Controls, EVCO SpA, Seungil Electronics, Shanghai Goldair Electric System Co. Ltd, MST Corporation, Danfoss.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Electronic Expansion Valve Controller Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/electronic-expansion-valve-controller-market/download-sampleMarket DynamicsElectronic expansion valves have been increasing in popularity, and the technology has evolved to cope with the increasingly sophisticated demands of industries.
Electronic expansion valves are an evolution of the thermal expansion valve.
These valves are mostly found on large systems and systems with a high need for precise regulation.
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.
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.
The feedback-based controlling of the valve operation helps in better performance of the complete valve assembly.
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 increasing R 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.
