Control Valves

The Control Valves market research study delivers current market analysis plus a five-year market and technology forecast.  The study is available in multiple editions including worldwide, all regions, and most major countries.

COVID Accelerates Adoption of Control Valve Remote Monitoring Services

According to ARC's new control valve market research, the pandemic has heightened the awareness of the need for, and willingness to invest in, Industrial Internet of Things (IIoT) solutions that allow workers to perform their jobs and collaborate remotely. Although many manufacturing companies were already looking into adopting Industrial IoT solutions, the COVID-19 pandemic pushed many companies who remained “on the fence” to begin actively implementing these solutions. Manufacturers are coming to the realization that secure data storage platforms that enable remote connectivity and enterprise-wide data access are becoming fundamental to optimizing manufacturing operations. As more manufacturing companies invest in these new data storage platforms and connected valves, many of them are also taking a closer look at control valve remote monitoring services offered by many of the major international control valve suppliers.

Control Valve Strategic Issues

In addition to providing a five-year market forecast, the Control Valve market research provides detailed quantitative current market data and addresses key strategic issues as follows.

Use Ethernet Connectivity for Greater Process Insight

Ethernet connection is generating a lot of interest in both the user and supplier communities. Ethernet offers many benefits—lower total cost of ownership (TCO), improved adaptability, better security, widespread availability, and market familiarity. It offers improved connectivity and functionality, allowing for easier access to measurement information.

In recent years, networking technology has also overcome many of its disadvantages that hindered adoption in the industrial world. Using fiber-optic cables, Ethernet can be deployed for longer distances. Ethernet switches for hazardous areas are available and users also have the option of Power over Ethernet (PoE), so there is no need to run additional lines for power supply. In the process world, Ethernet can now connect a wide range of field instruments to a central control system.

Focus on Asset and Energy Management

Plant asset management (PAM) has become an important tool in helping users assess the health of their production assets and processes, and it is instrumental in developing effective predictive maintenance programs and achieving operational excellence. End users have begun to better realize this and are taking measures to keep physical assets in good working condition to avoid business interruption and improve profitability as well as plant safety. Growth and spending for PAM systems will continue to rise as users seek to determine equipment condition as a means of increasing asset utilization. A key enabler of PAM is intelligent control valves with diagnostic capabilities. Although many intelligent control valves have been installed in plants around the world, they are often underutilized. End users should provide training, education, and support programs to plant staff to realize the benefits that smart control valves offer. End users should work with suppliers to get clear demonstrations of how embedded device diagnostics can help them assess not only the condition of the valve but also the condition of the process.

Leverage Smart Sensors

Smart sensors, as an enabler for Industrial IoT, will play an increasingly important role in process automation in the future. ARC recommends users work closely with suppliers and other stakeholders to better understand how to measure ROI and share best practices for intelligent device management. Users should always seek opportunities to leverage industry standards such as ISA 108 (intelligent device management) to improve their own plants’ operational performance and help promote the application of smart field systems and intelligent device management in their respective industries.

Use Industrial IoT to Address Skills Gap

End user organizations continue to face a shortfall of qualified personnel, as fewer new workforce entries perceive process automation, process engineering, chemical engineering, or similar technical fields as attractive career paths. Furthermore, it can take up to two years to train a new hire effectively in the field of automation, and once trained, it may be difficult to retain that individual. This “brain drain” is a major challenge for end user organizations, and advanced technology and automation—such as, Industrial IoT can play a key role in filling this skills gap.