The global actuators and valves market was valued at $104.5 billion in 2021, and is projected to reach $204.6 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031. Actuators & valves are used to control and direct the flow of fluids through pipelines used in wastewater treatment plants, power plants, refineries, mining & nuclear processes, and food factories.
They are one of the most essential mechanisms in manufacturing and processing industries, which not only control the flow but also the rate, volume, pressure, or the direction of fluids. In addition, they play a major role in applications such as oil & gas, paper & pulp, energy & power, automotive, chemical, iron & steel, and construction.
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Fast growing manufacturing and processing industry sector, safety assurance, and less requirement of manual handling have further supported the growth of global valves & actuators market.
These are highly effective and safe as compared to other controlling techniques due to their compact size and ability to regulate fluids without continuous human observation. However, high maintenance cost and laborious installation in certain conditions are expected to limit the market growth. Technological advancements in the actuators & valves technology and decline in prices are anticipated to provide potential growth opportunities for the market.
Segment Overview
The global actuators & valves market is segmented on the basis of type, application, and geography.
Actuators And Valves Market Report Highlights
Aspects |
Details |
|---|---|
Market Size By 2031 |
USD 204.6 billion |
Growth Rate |
CAGR of 7.1% |
Forecast period |
2021 - 2031 |
Report Pages |
507 |
By Application |
|
By Type |
|
By actuator type, electric actuators dominate the overall market due to high-precision control positioning. Moreover, by valves type, quarter-turn valves contribute maximum share in revenue generation. Among various applications, oil & gas segment dominated the global market due to need of remotely or automatically opening or closing of valves for emergency shutdown of oil & gas flow, protecting equipment, and personnel from over-pressurization.
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Top Impacting Factors
Growth in water and wastewater treatment industry
Water is undeniably critical for human health and the economic strength of countries through agriculture and industry. Water consumption and pollution have increased owing to rise in population, environmental deprivation, and economic development. The water and wastewater treatment industry primarily water treatment, effluent treatment plant (ETP), sewage treatment plant (STP), and water recycling. In addition, companies implement zero liquid discharge (ZLD) system-an advanced technology to refine and recycle the wastewater produced. Valves & actuators are widely used in these industries to control and guide the flow of water.
Lack of product differentiation
The basic design and structure of various valves & actuators have not been changed in the past few years. In addition, there are several players in the market, which provide same products as that of established products at low prices, forcing established players to differentiate their product offerings from those manufactured by local players. Therefore, lack of product differentiation limits the growth of the market.
Asia-Pacific is Expected to be the Most Lucrative Market
Asia-Pacific actuators & valves market is expected to grow at the fastest CAGR owing to rise in exploration and production of oil & gas. Large-scale adoption of the actuators & valves in the latest range of applications such as water & wastewater treatment and food & beverages has fueled the market growth. Furthermore, the presence of various key companies has catalyzed the growth of the market.
Competitive Landscape
The report provides a comprehensive analysis of major market players and the prominent strategies adopted by them. The key players include Honeywell International Inc, Emerson Electric Co., Flowserve Corporation, Pentair Plc., General Electric, Rotork, Siemens AG, Christian Bürkert GmbH & Co. KG, Schlumberger Limited, and Watts Water Technologies, Inc.
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Top Winning Strategies
Actuators & valves market is largely driven by product launch and acquisition. For instance, Honeywell International Inc. announced a new range of 2-way and 3-way ball valves suitable for a wide range of heating, ventilating, and air conditioning applications. The Honeywell range of ball valves & actuators is designed to maximize the key features required to give specifiers, installers, and users the most cost-effective solution. Moreover, expansion and agreement are other wining strategies adopted by key players.
Key Benefits:
The study provides an in-depth analysis of the global valves & actuators market to elucidate the prominent investment pockets in the market.
Current trends and future estimations are outlined to determine the overall market scenario.
The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
Geographically, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Analysis of value chain is conducted to better understand the role of intermediaries.
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