The Digital Valve Key Components Emerging Market Analysis report delivers current market analysis plus a five year market and technology forecast.
Burgeoning Need for Proactive Asset Management Boosts Demand for Digital Valve Components
Digitalization in valve operations reveals new opportunities for users/operators to minimize downtime and enhance productivity. As a result, there is a growing need for smart valve components among end users to monitor valve operation and manage valve assets. Digital valve controllers and intelligent electric actuators by valve automation suppliers are the two go-to technologies in the market, enabling condition monitoring and predictive maintenance of both isolation and control valves. Other smart devices enabling digitization of pressure relief valve and steam trap operations include wireless non-intrusive acoustic transmitters, lift/position monitors, and differential pressure flow transmitters.
Digital Valve Key Components Strategic Issues
In addition to providing a five-year market forecast, the Digital Valve Key Components market research report provides detailed quantitative current market data and addresses key strategic issues as follows.
Choose a Digital Solution Provider Over Mere Product Suppliers
The automated valves space is currently witnessing an evolution, with several key market participants transforming their business, from mere equipment manufacturers and suppliers to complete solution providers. Cloud platforms and analytics engines are being employed for data management, processing, and predictive maintenance. End users should seek out such solution providers than just hardware suppliers that are willing to invest sufficient time and resources for process evaluation, product customization, digitalization service, and support to enable the successful deployment of the technology and long-term technology partnerships for optimizing overall plant efficiency and emissions.
Evaluate Wireless Technologies
ARC sees increased interest among process industry end users in applying wireless sensing technology in their installations. The availability of industry-standard protocols (WirelessHART and ISA100) provides a huge catalyst, but some end users still take a "wait and see" approach in hopes that the wireless field communications standards will converge. ARC believes this is most unlikely.
End users need to prepare for wireless adoption as the technology continues to penetrate process automation architectures. While the business case is often relatively straightforward, implementation can be challenging, particularly for sites where the appropriate infrastructure is not in place. Suppliers need to recognize this hurdle and arm themselves with implementation guidelines and best practices to help smooth adoption and lower implementation costs.
Evaluate Supplier Remote Service Offerings
End users should consider partnering with field device suppliers offering remote monitoring, operations, and/or analysis. As locations become ever more remote and operations more extensive, it becomes very expensive and often hazardous to transport temporary support personnel to these sites. Instead, owner-operators should consider establishing practices for remote operations monitoring and management. An increasing number of valve actuators and digital positioner suppliers are developing valve maintenance services that leverage valve expertise to fill existing gaps for customers and create new revenue streams for themselves.
By increasing the frequency of valve health analysis testing, valve suppliers can predict impending valve health deterioration, so remediation can be scheduled and performed well before an operator alarm is triggered. This can help end users struggling with alarm overload by reducing the number of alarms triggered. It can also prioritize the corrective actions for maintenance to keep the plant operational. These services also help end users prioritize which valves need maintenance and which do not.
Formats and Editions Available
The Digital Valve Key Components Emerging Market Analysis study may be purchased as a concise, executive-level PDF File. Studies and formats available are listed below:
|MIRA Workbook||PDF File|
|Worldwide (includes regional data)||No||Yes|
Worldwide Market Research Areas
- Market Trends
- Strategies for Buyers
- Strategies for Product Suppliers
- Growth Contributors
- Growth Inhibitors
- Market Share Analysis
- Market Shares of the Leading Suppliers
- Market Shares by Component
- Intelligent Actuators
- Smart Positioners
Emerging Market Size and Forecast
- Total Shipments of Digital Valve Key Components
- Shipments by Region
- North America
- Europe, Middle East, Africa
- Latin America
- Shipments by Component
- Intelligent Actuators
- Smart Positioners
- Other Smart Devices
- Shipments by Industry
- Electric Power Generation
- Oil & Gas
- Pulp & Paper
- Water & Wastewater
- Other Industries
The research identifies all relevant suppliers serving this market.
For More Information
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