Surge in demand for Actuators and Valves, industrial automation, water treatment and healthcare sector drives the growth of the global actuators and valves market
PORTLAND, Ore., Feb. 28, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Actuators and Valves Market By Application (Oil and Gas, Paper and Pulp, Mining, Water and Wastewater, Food and Beverages, Energy and Power, Automotive, Chemicals and CPI, Pharma and Life Sciences, Healthcare, and Microelectronics and Semiconductors), and Type (Actuators [Electrical Actuators, Mechanical Actuators, Hydraulic Actuators, and Pneumatic Actuators], and Valves [Cast Iron, Alloys, Plastic and Steel]), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031", according to the report, the global actuators and valves industry generated $104.52 billion in 2021, and is projected to reach $204.63 billion by 2031, registering a CAGR of 7.13% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities
Surge in demand for Actuators and Valves, for growth in water and wastewater treatment industry, increase in safety measurements in industries and technologically advanced processing methods drives the growth of the global Actuators and Valves market. On the other hand, lack of product differentiation impede the growth to some extent. However, increase in adoption of robotics in actuators and valves market is expected to create lucrative opportunities in the industry.
Report Coverage and Details:
Report Coverage | Details |
Forecast Period | 2022-2031 |
Base Year | 2021 |
Market Size in 2021 | $104.52 billion |
Market Size in 2031 | $204.63 billion |
CAGR | 7.13 % |
No. of Pages in Report | 507 |
Segments Covered | Application, Type, and Region |
Drivers | Growth in water and wastewater treatment industry |
Increase in safety measurements in industries and technologically advanced processing methods | |
Opportunities | Increase in adoption of robotics in the market |
Restraints | Lack of product differentiation |
COVID-19 Scenario:
- The outbreak of COVID-19 has moderately impacted the growth of the actuators and valves solution in 2020, owing to a significant impact on prime players operating in the supply chain.
- The demand for actuators and valves may be influenced by a number of factors, including the demand for products and industries in which they are used, the growth of automation and IoT, the use of renewable energy sources, population growth and urbanization.
The oil and gas segment dominated the market
By application, the oil and gas segment held the major share in 2021, for actuators and valves market revenue. The same segment would also showcase the fastest CAGR of 10.82% during the forecast period. In the oil and gas industry, actuators and valves are used in a variety of applications such as wellhead control, pipeline control, and refining processes thus driving the segment growth.
The valves segment to maintain its dominance during the forecast period
By type, the valves segment contributed to the highest share in 2021, for actuators and valves market revenue. The same segment would also showcase the fastest CAGR of 6.58% throughout the forecast period. This is attributed to the fact that valves for actuators and valves offer several benefits in industrial applications, which contribute to their widespread use in various industries.
North America garnered the major share in 2021
By region, North America garnered the highest share in 2021, for actuators and valves market revenue in 2021, and is projected to retain its dominance by 2031. The same region would also portray the fastest CAGR of 7.99% during the forecast period. This is mainly attributed to extensive adoption of innovative processing technologies, growth in industries, and heavy infrastructural projects in this region.
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Leading Market Players:
- Crane Holdings, Co.
- Emerson Electric Co. (PENTAIR VALVES)
- Flowserve Corporation
- General Electric Company
- IMI plc
- KITZ CORPORATION
- METSO OYJ (NELES OYJ)
- PARKER-HANNIFIN CORPORATION
- Rotork plc
- SLB
The report analyzes these key players in the global actuators and valves market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the actuators and valves market analysis from 2021 to 2031 to identify the prevailing actuators and valves market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the actuators and valves market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global actuators and valves market share, key players, market segments, application areas, and market growth strategies.
Actuators and Valves Market Key Segments:
By Application:
- Oil and Gas
- Paper and Pulp
- Mining
- Water and Wastewater
- Food and Beverages
- Energy and Power
- Automotive
- Chemicals and CPI
- Pharma and Life Sciences
- Healthcare
- Microelectronics and Semiconductors
By Type:
- Actuators
- Actuators Type
- Electrical Actuators
- Mechanical Actuators
- Hydraulic Actuators
- Pneumatic Actuators
- Valves
- Material
- Cast Iron
- Alloys
- Plastic
- Steel
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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