Digital valve controller market is anticipated to grow at a CAGR of 3.2% during the forecast period. A digital valve controller is a microprocessor-based instrument that is compatible with a variety of communication protocols, including HART, FOUNDATION Fieldbus, and PROFIBUS. Digital valve controllers are primarily used in numerous processes to regulate flow, pressure, temperature, or other variables. The type of valve used depends on the size of the pipe, the overall pressure that the system operates, the flowing media, process conditions, and other factors. The market is driven by the emerging demand from end-user industries such as chemical, food & beverages, pulp & paper, oil & gas, shipbuilding, and others. Furthermore, the market growth is also expected to grow significantly owing to the increasing industrialization in emerging economies and high investment in the oil & gas industry. For instance, in January 2022, Indian Oil Corp. Ltd. (IOCL) announced plans to expand its city gas distribution (CGD) business, looking to invest $918.6 million. Similarly, in July 2021, ONGC invested $4 billion in FY22 to boost its oil & gas output.
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In addition to this, the massive power requirement owing to the rising population is estimated to boost the market growth during the forecast period. Apart from these, increased manufacturing activities and exploration in search of new reserves of oil and gas in various countries in the Asia-Pacific region such as China, India, and Thailand result in the massive utilization of digital control valves. However, the paucity of standardized norms and governing policies may hamper the market growth. Whereas, the need for the replacement or repair of old infrastructure is expected to create new growth opportunities for market growth.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Digital Valve Controller Market Report by Segment
- Global Digital Valve Controller Market by Type
o Electric
o Hydraulic
o Pneumatic
- Global Digital Valve Controller Market by Application
o Chemical Industry
o Food Industry
o Paper Industry
o Shipbuilding Industry
o Others
Global Digital Valve Controller Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital valve controller market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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