; Global Actuator and Valves Market Size, Share, Trend, Forecast

Global Actuator and Valves Market

Global Actuator and Valves Market Size, Share, and Analysis, By Valve Type (Ball, Butterfly, and Globe), By Actuator Type (Hydraulics, Pneumatic, and Electric), By End-User (Oil & Gas, Power Generation, and Chemical), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

Published on: Jun-2024
Report Code: FG ES 02012
No. of Pages: 170-350
Report Format: PDF

Global Actuator and Valves Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 75.6 billion and is projected to reach USD 150.1 billion by the completion of 2034.

Product Overview

Actuators are devices that convert mechanical energy into motion to operate or move a machine or building. They are widely used to modify or regulate the motion of parts in several industrial, automotive, and aerospace environments. They can be classified as mechanical, hydraulic, pneumatic, or electric, depending on the specific requirements of the application. On the other hand, valves are mechanical tools that are used for regulating the movement of fluids, such as liquids, gases, or slurries, by either opening, closing, or partially obstructing the pathway. They are crucial in pipelines, plumbing systems, industrial processes, and machinery. Moreover, various kinds of valves, such as gate valves, ball valves, butterfly valves, and globe valves, are available to meet the requirements of diverse flow control. Hence, valves have a crucial function in controlling the flow of substances to maintain safety and efficiency across systems.

Market Highlights

Global Actuator and Valves Market is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2034

Global Actuators and Valves Market are projected to reach USD 150.1 billion over the forecast period, owing to swift industrialization and infrastructure development across the world. In addition, the increasing demand for automation and control systems across industries such as oil & gas, water & wastewater, power generation, and chemicals are major factors for the growing demand for actuators and valves. Moreover, guidelines related to safety and the environment are responsible for the high usage of advanced actuators and valve technologies. Furthermore, continuous progress in smart actuators and valve technology, along with sensors and digital control systems, are changing the dynamics of the market. Therefore, the global actuator and valves market is projected to rise shortly, due to a strong emphasis on improving operational efficiency and meeting regulatory standards.

Source: Fatpos Global

Global Actuator and Valves Market Segmentation

Ball Valve segment will lead the industry owing to its design and dependability

Global Actuator and Valves Market is divided by Valve Type into Ball, Butterfly, and Globe. The ball valves segment is expected to become the leading segment in the global actuator and valves industry due to their adaptable design, that allows for effective shut-off functions. In addition, ball valves provide superior dependability, with limited risk of leakage, and ensure efficient performance even in settings with high pressure and temperature levels. They are known for their ability to operate rapidly and reduce downtime during maintenance or emergencies. Moreover, their long lifespan and durable design increase their cost-effectiveness and solidify their position as the leading choice for fluid control needs. Therefore, these features elevate ball valves to the top of the global actuator and valve market.

Electric Actuator segment will dominate the market as it offers accuracy and control

Global Actuator and Valves Market is divided by Actuator Type into Hydraulics, Pneumatic, and Electric. The electric actuator segment in the global actuator and valves market is anticipated to dominate as electric actuators provide precision and control in comparison to hydraulics and pneumatics, thus making them perfect for tasks that need precise positioning and valve modulation. In addition, electric actuators are more eco-friendly as they eliminate the need for hydraulic fluid or compressed air, which reduces the possibility of leaks and pollution. Furthermore, the improvements in electric actuator technology, such as the incorporation of smart functions and digital control systems, have increased their attractiveness across diverse sectors. Therefore, electric actuators are the preferred option for numerous applications due to their performance and environmental benefits, which leads to their dominance in the global actuator and valves market.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Increasing Industrialization to Encourage Growth in the Global Actuator and Valves Market

Demand for valves and actuators is rising in various sectors like oil and gas, water and wastewater treatment, energy, and manufacturing as industrialization continues to expand. In addition, valves and actuators are important components in industrial processes, as they are crucial for controlling the flow of fluids and gases. Moreover, industries such as petrochemicals, pharmaceuticals, and food processing are also expanding, due to which the need for valves and actuators is increasing simultaneously. The infrastructure development initiatives in less developed nations further help in increasing the growth rate by demanding thorough fluid control systems in utilities and transportation. Thus, the industrialization trend, along with infrastructure advancements is responsible for boosting the need for valves and actuators during the forecasted period.

Developments in Automation Technologies Act as a Catalyst for Market Growth

Innovations in automation technologies have transformed industrial processes, which resulted in a notable shift towards advanced and automated systems. Valves and actuators are essential components in these systems as they allow for accurate management and adjustment of fluid and gas movement. The blending of intelligent technologies such as IoT and predictive maintenance further boosts the expansion of the market. Additionally, IIoT allows for instant monitoring and remote management of valve operations. Predictive maintenance algorithms help in detecting possible problems and reduce unexpected downtimes or maintenance. Therefore, as industries aim for high efficiency and sustainability, the use of automation technologies will drive the need for innovative valve and actuator solutions.

Restraints

High Initial Investment and Maintenance Costs in the Global Actuator and Valves Market Will Impact the Growth

Although valves and actuators provide many benefits they require an enormous amount of money and continuous maintenance expenses. In big industrial settings, installing these components may need a significant amount of money, which covers the cost of the valves and actuators, along with infrastructure costs. The upkeep and repair of the equipment throughout its lifespan may contribute to the high operational expenses. The complexity of certain valve and actuator systems might require specific expertise for upkeep, which ultimately raises expenses. These significant costs can prevent smaller businesses or regions with limited funds from integrating advanced valve and actuator technologies. Thus, even though there is a high market demand, the significant costs present a barrier that may restrict the acceptance and expansion of the global valve and actuator market.

Recent Developments

  • In response to the growing demand for chemical and corrosion resistance in piping systems, KITZ Corporation introduced PFA-Lined Weir Type Diaphragm Valves in July 2023.
  • A significant upgrade took place at a Hong Kong wastewater pumping plant in March 2023. Rotork replaced outdated manual valves with their intelligent Rotork IQ electronic actuators, enhancing efficiency and control.
  • December 2022 saw Parker Hannifin launch the VA Series, their next-generation pre-compensated load-sensing valves. Designed for challenging mobile machinery applications like forestry, construction, and material handling, these valves aim to address future industry needs.
  • Crane India, a subsidiary of Crane Holdings, Co., inaugurated a new engineered check valve factory in Satara, Maharashtra, in September 2022. This 110,000-square-foot facility features automated welding and in-house machining capabilities, allowing it to manufacture a complete range of Noz-Chek and Duo-Chek valves in sizes up to 84 inches.

Global Actuator and Valves Market

Key Players:

  • Emerson
  • Flowserve Corporation
  • Schlumberger Limited
  • Crane Co.
  • Neles
  • KITZ Corporation
  • IMI PLC
  • KSB SE & Co. KGaA
  • Honeywell International Inc.
  • AVK Holdings A/S
  • Tyco International Ltd.
  • Burkert Fluid Control Systems
  • Watts Water Technologies
  • Rotork plc
  • Parker Hannifin Corporation
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Global Actuator and Valves Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. A combination of factors has put the Asia Pacific region at the forefront of the valve and actuator market. The region is seeing a rise in sectors such as construction, energy, and production, as a result of urban development and economic expansion. In addition, specialized valve and actuator technologies are experiencing high demand due to government investments in infrastructure and renewable energy projects.

On the other hand, the infrastructure in North America is becoming increasingly strong, which results in a shift towards maintenance and repair instead of building new facilities. Furthermore, the cost-effectiveness of Asian manufacturers, along with this factor, makes Asia Pacific the top player in the valve and actuator market.

Source: Fatpos Global

Impact of COVID-19 on the Global Actuator and Valves Market

Global valve and actuator market experienced a temporary interruption due to the COVID-19 pandemic, thus affecting supply and demand. At first, lockdowns and travel restrictions impeded production and caused shortages and delays. In addition, the pandemic led to delays in projects and cancellations across various sectors such as construction and manufacturing, which resulted in low demand for valves and actuators.

However, the effect was diverse between different industries. For instance, there was an increase in the need for valves that are used in important operations in the healthcare and pharmaceutical sectors. Therefore, there was a period of instability in the market, but with the continuation of infrastructure projects, the valve and actuator market started to show signs of improvement.

Global Actuator and Valves Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Actuator and Valves Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2034

Base Year

2023

Forecast Period

2024-2034

Historical Period

2019-2022

Growth Rate

CAGR of 6.4% from 2024-2034

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Valve Type

  • Ball
  • Butterfly
  • Globe

By Actuator Type

  • Hydraulics
  • Pneumatic
  • Electric

By End-User

  • Oil & Gas
  • Power Generation
  • Chemical

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ):

Global Actuator and Valves Market size was valued at USD 75.6 billion in 2023 and is projected to reach the value of USD 150.1 billion in 2034, exhibiting a CAGR of 6.4% during the forecast period.

The Global Actuator and Valves Market deals with devices that control the flow of liquids, gases, and semi-solids in various industries. Actuators convert energy (electrical, pneumatic, hydraulic) into motion to open, close, or adjust valves.

The Ball Valve segment and Electric Actuator segment accounted for the largest Global Actuator and Valves Market share.

Key players in the Global Actuator and Valves Market include Emerson, Flowserve Corporation, Schlumberger Limited, Crane Co., Neles, KITZ Corporation, IMI PLC, KSB SE & Co. KGaA, Honeywell International Inc., AVK Holdings A/S, Tyco International Ltd., Burkert Fluid Control Systems, Watts Water Technologies, Rotork plc, and Parker Hannifin Corporation, and Other Prominent Players.

Increasing industrialization and the developments in automation technologies are the factors driving the global actuator and valves market.

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