Global Valve Driver Market By Function (Solenoid, Proportional), By Valve Type (Conventional Control Valves, Expansion Valvess), By End-User (Commercial & Residential, Industrial, Motion Equipment), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

The purpose of valve drivers is to regulate proportional hydraulic valves. They can also be used in a variety of small logic applications. By supplying a controlled current across solenoid and bi-directional voice-coils, a proportional valve driver can eliminate the effects of temperature and power supply changes on valve performance. A drive signal is necessary to operate the proportioning solenoid valves used for pressure or flow control, is provided by the solenoid valve driver.

The growing necessity of monitoring and controlling in-process industries for greater efficiency, the growing demand for fuel and power consumption, as well as the building of new nuclear power plants, are some of the primary reasons fueling the global valve driver market forward.

Furthermore, this market is being supported by an increase in the demand for valve drivers in both commercial and residential applications, owing to their lower costs, reduced efficiency losses, as well as growing concerns about the increasing demand for energy efficiency.

Detailed Segmentation –

Based on Function:

• Solenoid
• Proportional

By Based on Valve Type:

• Conventional Control Valves
• Expansion Valvess

Based on End-User:

• Commercial & Residential
• Industrial
• Motion Equipment

Based on Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers:

End users, such as residential, commercial, industrial, as well as in motion equipment, require the use of energy-efficient systems for their processes as a result of new performance requirements enforced by respective governments and industry-related associations for energy saving, which in turn, increases the demand for valve drivers due to its energy-efficient nature. The energy and power vertical has faced various issues related to carbon emissions.

CO2 levels have an impact on air quality, and many experts believe they contribute to global warming. These concerns have prompted a transition away from coal and towards gas renewable energy sources, and now electricity.

End-user industries must implement new, better, and creative valve drivers as a result of the introduction of environmental, health, and safety requirements in the chemicals vertical related Volatile Organic Compounds (VOCs). These new laws encourage users to implement valve drivers in order to remain compliant with these new regulations.

Restraint:

The lack of standardization in equipment, and the protocols that are presently being utilized are major issues with many industrial devices and equipment. As a result, there are instances of a mismatch in several existing databases.

Valve driver makers must follow a number of rules and regulations to ensure authenticity, suitable standardization and certification are implemented, which is resulting in a hopscotch-esque integration with field devices.

The diverse application of valve drivers in industries such as commercial & residential sectors, oil & gas, food & beverage, pharmaceuticals, energy & power, water & wastewater treatment, construction, chemicals, and pulp & paper industries has created heterogeneity in demand. Because industry players must modify the same product based on regional policies, heterogeneity functions remain a stifling factor.

Opportunities:

Valve drivers are less expensive and reduce efficiency losses. They give a long-term solution to worries about rising energy efficiency demands, particularly in commercial and residential applications. Furthermore, it enables refrigeration systems to work more efficiently and precisely, which is a primary element boosting the demand for valve drivers.

Furthermore, in the current scenario, with a rise in the number of commercial and residential spaces, such as hotels, offices, airports, educational institutions, and hospitals, expansion valve driver sales are likely to surge at a rapid pace, as HVAC/R systems are increasingly used in the commercial sector, opening-up new avenues of revenue growth for valve driver manufacturers.

Trends:

Apartments, residences, offices, industrial facilities, and other structures fall under the residential and commercial categories. The market for valve drivers has grown due to the increased adoption of HVAC/R systems in the residential sector.

Manufacturers of HVAC/R systems are urged to build new versions of those systems in instances where the government has set new performance criteria to save energy as their emphasis is to make machinery or operations more efficient, which will, in turn, increase the demand for HVAC/R systems. As a result, the market for valve drivers is expected to continue to grow among the residential and commercial sectors respectively.

Competitive Landscape –

• Danfoss
• Parker Hannifin
• Emerson Electric Co.
• Eliwell Controls
• Carel Industries
• MKS Instruments
• Hydraforce Inc.
• Hussmann Corporation
• Sanhua
• Fujikoki Corporation

Recent Developments:

• In January 2020, Eaton’s hydraulics business was acquired by Danfoss. Eaton’s main business division would be strengthened as a result of this acquisition.
• In September 2019, Carel USA LLC, a subsidiary of Carel, acquired the entire stock of Enersol Inc., a long-standing Canadian distributor of Carel humidification products situated in Montreal, Quebec. This purchase is part of the company’s plan to extend its direct sales network in order to deepen relationships with its customers and to maintain its market leading position.
• In February 2019, Electro Scientific Industries Inc. was bought by MKS Instruments. The product portfolios of key industrial markets have expanded as a result of this acquisition.

For the Valve Driver Market research study, the following years have been considered to estimate the market size: