Actuators and Valves Market Expected to Reach $221.3 Billion, Globally, by 2032 at 8.1% CAGR: Allied Market Research

The global actuators and valves market is driven by factors such as increase in safety measurements in industries, technological advancements in processing methods, and changing environmental regulations.

WILMINGTON, Del., Oct. 17, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Actuators and Valves Market by Application and Type (Actuators and Valves): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global actuators and valves industry generated $104.2 billion in 2022, and is anticipated to generate $221.3 billion by 2032, witnessing a CAGR of 8.1% from 2023 to 2032.

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• 167 - Tables
• 87 - Charts
• 359 - Pages

Prime determinants of growth

The global actuators and valves market is driven by factors such as growth in the water & wastewater industry, increase in safety measurements in industries, technological advancements in processing methods, and changing environmental regulations. However, lack of product differentiation is expected to hinder market growth. Conversely, surge in demand for robotics is projected to offer remunerative opportunities for the actuators & valves market.

Report Coverage and Details:

Opportunities

Restraints

The oil and gas segment to maintain its lead position during the forecast period

Based on application, the oil and gas segment hold the largest share in 2022 and is projected to maintain its lead position and is expected to portray the largest CAGR of 11.84% from 2023 to 2032. Demand for control valves in the oil & gas sector is much higher as it ensures the safety and performance of various systems used in this sector. Use of actuators & valves in distributed systems of plants and along pipelines offer lower operating cost and considerably low maintenance cost, which drives growth of the actuators & valves market for the sector.

The valves segment to maintain its lead position during the forecast period

Based on type, the valves segment holds the largest share in 2022, contributing to more than two-thirds of the global actuators and valves industry revenue, and is expected to maintain its leadership throughout the forecast period. Valves share around 15% of the total expenditure for resources and equipment in the refinery or chemical processing industry. Besides, use of a correct valve type increases life expectancy of a system, which reduces maintenance costs, lowers effect of cavitation, and increases overall system's efficiency. The actuators segment is projected to manifest the highest CAGR of 8.91% from 2023 to 2032. Actuators can convert energy into any kind of required motion; hence, they have a wide variety of applications such as movement of robot, ease of adjustment of a dental chair, bussing sound produced by phone while vibrating, and positioning solar panels. Subsequently, actuators are prominently used in industrial or manufacturing sector.

Asia-pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global actuators and valves market revenue and dominates the market and is projected to maintain its lead position and is expected to portray the largest CAGR of 8.81% from 2023 to 2032 owing to the increase in adoption of pipeline transportation and power projects. In this region, linear actuators are highly used in mobile as well as industrial applications, owing to their low cost. Moreover, industrial applications generate the highest revenue as there is a high demand for these applications in developing countries.

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Leading Market Players:

• Parker-Hannifin Corporation
• Flowserve Corporation
• General Electric Company
• Emerson Electric Co. (PENTAIR VALVES)
• KITZ CORPORATION
• SLB
• Metso Oyj (Neles Oyj)
• IMI plc
• Crane Holdings, Co.
• Rotork plc

The report provides a detailed analysis of these key players in the global actuators and valves market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the actuators and valves market segments, current trends, estimations, and dynamics of the actuators and valves industry analysis from 2022 to 2032 to identify the prevailing actuators and valves market opportunity.
• The actuators and valves 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 industry 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 actuators and valves market players.
• The report includes the analysis of the regional as well as global actuators and valves market trends, key players, market segments, application areas, and market growth strategies.

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