This report was recently updated on November 17 2024 with the latest and most recent
market numbers
Global Valve Driver Market Size, Trends & Analysis – with Covid-19 Impact - Forecasts To 2026 By Function (Solenoid, Proportional), By Valve Type (Conventional Control Valves, Expansion Valves), By End-User (Commercial and Residential, Industrial, Motion Equipment, Others), By Region (North America, Europe, Asia Pacific, MEA, CSA); End User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Valve Driver Market: Insights
The global valve driver market is estimated to witness a significant CAGR during the forecast period (2020-2026). Valve drivers are used to control proportional hydraulic valves, and they are also suitable for many types of small logic applications. The rising focus on improving efficiency and power consumption and growing construction activities are some of the factors driving the market growth. Moreover, the growing development of digitization and automation in conventional plants are likely to propel the market growth. Furthermore, the growing demand for valve drivers in residential and commercial applications is expected to drive the market growth during the forecast period. However, the fluctuation in prices of raw materials and stringent rules and regulations are likely to hamper the market growth over the coming years.
Valve Driver Market Size: By Function
Based on function, the global valve driver market is segmented into solenoid, and proportional. The proportional valve driver segment is expected to grow at a high CAGR during the forecast period. The growing demand for valve driver across various end-use industries and technologically advanced features of valves are driving the market growth during the forecast period. Proportional valve is an essential component used to remove the effects of temperature and power supply fluctuations from the valve output.
Valve Driver Market Size: By Valve Type
Based on the valve type, the global valve driver market is segmented into conventional control valves, and expansion valves. The expansion valves segment is expected to grow at a high CAGR during the forecast period. The growing focus on saving energy and improving efficiency are the major factors driving the market growth. Expansion valves are used in different system solutions such as die casting and plastic industry. Moreover, the conventional control valves are expected to hold the largest market share during the forecast period. The increasing need for energy and power, and rising adoption of industrial automation are some of the major factors expected to propel the market growth over the coming years.
Valve Driver Market Size: By End-User
Based on the end-user, the global valve driver market is segmented into commercial & residential, industrial, and motion equipment, among others. The commercial and residential segment is expected to hold the largest market share during the forecast period due to the increased adoption of HVAC/R systems in the residential segment. Furthermore, the industrial segment is expected to grow at a high CAGR during the forecast period. The industrial segment is further segmented into oil & gas, pharmaceuticals, energy & power, metal & mining, water & wastewater, and food & beverages, among others. The oil & gas industry is expected to lead the market share due to a wide application in crude oil extraction, natural gas generation and refining process.
Valve Driver Market: By Region
Based on region, the global valve driver market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia-Pacific region is expected to grow at a high CAGR in terms of value during the forecast period due to rising government investments in valve technologies and increasing construction activities across the region Moreover, the growing demand for automated valve operations in various end-use industries are some of the factors propelling the market growth in the Asia-Pacific region. North American region is expected to hold the largest market share during the forecast period. The excessive demand for valve replacement from a wide number of active projects are some of the major factors expected to drive the market growth.
Valve Driver Market Share & Competitor Analysis
Some of the key players operating in the valve driver market include: Danfoss, Parker Hannifin, Emerson Electric Co., Eliwell Controls, Carel Industries, MKS Instruments, Hydraforce Inc., Hussmann Corporation, Sanhua, Fujikoki Corporation, Walvoil, Clippard Instrument Laboratory, Inc., Iq Valve Co., Irs Systems, PWM Controls Inc., Humphreykar Tech, Axiomatic Technologies Corporation, Lynch Fluid Controls, Imi Precision Engineering, Kahan Control, Skelly Pneumatics, Inc., Bucher Hydraulics, Inc., OEM Controls, Applied Processor And Measurement, Inc., and Enfield Technologies, LLC among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2020, Danfoss successfully acquired Eaton’s hydraulics business. The company is focusing on strengthening its core business segment.
In February 2019, MKS Instruments successfully acquired Electro Scientific Industries, Inc. to expand the product portfolio of key industrial end markets.
Check the Press Release on Global Valve Driver Market Report
Valve Driver Market: By Function
Valve Driver Market: By Valve Type
Valve Driver Market: By End-User
Valve Driver Market: By Region
The global Valve Driver Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Valve Driver Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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