positioners and smart actuators in the world automation control valve market will be the fastest growing part of the entire control valve market. The world automation control valve market was US$10 billion in 2002 and reached US$23 billion in 2008. At present, all valve manufacturers are working on valve electronic control technology and information technology software. Modern industry is marked by the production of automated control valves. From the perspective of the development history and progress of automation systems, changes in technical tools play an extremely important role. Various advanced control methods continue to appear, but the basic control laws have not changed, while the improvement of technical tools is changing with each passing day. The development and use of smart meters has created a brighter future for industrial automation. A typical automatic control system has three main links: detection, control, and execution. In recent years, detection instruments and control instruments have been affected by digital technology and microprocessor technology, and the changes that have taken place are obvious to all, and the actuator part, especially the control valve as the main product, has also made considerable progress. Due to the appearance of the 'Smart' valve, the performance of the valve has been improved. At present, all valve manufacturers are working on valve electronic control technology and information technology software. Power stations are the second largest market for valves, especially gas turbines. Combined-cycle gas turbines require more valves than single-cycle gas turbines, and the number of valves for gas-fired units is four times that of combined gas turbines. China and the United States are large countries of gas turbines, and therefore the largest users of power plant valves. The replacement and update of valves is also a big market. The United States accounts for one-third of the world's gas turbine capacity and is the largest market for valve updates. The market share of valves has recently changed due to the merger of Invensys FlowControl by FlowServe. Tyco still occupies the first place with 6%; FlowServe rose to the second place with 4%; Emerson occupies the third place with 3%. Sales of industrial valves and actuators in Europe were 3.53 billion U.S. dollars in 2002 and reached 4.1 billion U.S. dollars in 2008. The comprehensive annual growth rate is 2.2%. Technological innovations that have made valves and actuators have better performance, stable oil prices, and expanded use of natural gas have increased investment in oil and gas, and promoted the rise of the valve actuator market. In addition, spare parts are also a big market. The recognition of smart valves and fieldbus technology by the market also contributes to market growth. Smart valves will be more widely used in the future. The growth rate of actuators is faster than that of valves. Among them, 1/4-turn actuators will have a larger market than multi-turn actuators because of their wide use and simple structure. Recently, ARC Consulting Group conducted a survey on the market of actuators and valve positioners, and believes that smart valve positioners and smart actuators will be the fastest growing part of the entire control valve market, with an annual growth rate estimated to exceed 50%. Sales increased from US$20.2 million in 1997 to US$158 million in 2002.
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