Market for Control Valves using Electric Actuators to Double by 2017
As Austin, Texas-based company noted, developments in electric actuation have seen a dramatic increase in the customer base for these products. Rugged electric actuators with armored cables and water resistance capability have expanded the instances where it is feasible to use electric actuation to include increasingly hostile environments. The ability to now fail-open, fail close, or anywhere in between, has also expanded the market base to include a variety of fail-safe applications, which have further increased the ability of electric actuation to compete with air power in control valve markets.
IMS Research senior analyst and report author Rob Carter comments, “The increased ability to address hostile environment and fail safe applications has significantly increased the customer base for control valves using electric actuators. However, there still remain barriers that will prevent electric actuators from fully realizing this new potential. Firstly, the higher price tag and technical complexity of these components compared with more basic pneumatic alternatives. Secondly, most control valve suppliers manufacturer pneumatic actuators in-house, but have to source electric actuators from third parties, which can make it difficult to be price competitive and still maintain required profitability. Despite these barriers, electric actuators are expected to show strong growth in the control valve market over the next five years, especially in low speed applications. By 2017 electrically actuated valves are forecast to exceed 10 percent of the global market for process control valve assemblies.”