Global Marine Actuators and Valves Market (2019 to 2025) - Featuring MOOG, Honeywell International & Rotork Among Others

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Mar 13, 2020, 13:30 ET

DUBLIN, March 13, 2020 /PRNewswire/ -- The "Marine Actuators and Valves Market by Component, End User (OEM, Aftermarket), Mechanism (Pneumatic, Hydraulic, Electric, Mechanical, Hybrid), Application, Product (Actuators, Valves), Design Characteristics, Material, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The marine valves market is projected to grow from USD 1.5 billion in 2019 to USD 2.0 billion by 2025, at a CAGR of 5.0% from 2019 to 2025.

The marine actuators market is projected to grow from USD 1.7 billion in 2019 to USD 2.3 billion by 2025 at a CAGR of 4.6%. Commercial and naval ship operators are demanding greater levels of efficiency and reliability to enable a reduction in direct and unscheduled operating costs. Various marine valve manufacturers, such as Emerson (US) and Curtis-Wright (US), are designing and manufacturing next-generation rugged marine valves based on the hydraulic, electro-hydraulic, electric and pneumatic mechanism for marine applications.

The HAVC's systems application segment is estimated to grow at the highest CAGR during the forecast period due to the rising demand for full command and control systems.

Based on the application, the market is segmented into fuel and propulsion system, portable water system, ballast and bilge system, fire fighting system, heat, ventilation and air conditioning (HVAC) systems, refrigeration system, and others. The heat, ventilation, and air conditioning (HVAC) systems segment is estimated to grow at the highest CAGR during the forecast period due to the increasing shipbuilding activities in the commercial and defense sectors. Marine valves are the key components of these HVAC systems which are used for flow control functionalities in naval vessels.

The marine actuator product segment is expected to lead the marine actuators and valves market in 2019.

Based on the marine actuator type, the rotary actuator segment is estimated to account for the largest share of the marine actuators market in 2019. The rotary marine actuator types include quarter-turn and mulit-turn marine actuators. These marine actuators are used on different marine vessels such as containers, bulk carriers, container vessels, and naval vessels, among others. Increasing demand for the maintenance, repair, and upgrades will lead to an increased demand for marine actuators components in both commercial and defense platforms.

The aftermarket segment is expected to grow at the highest CAGR during the forecast period

Based on the end-user, the aftermarket segment is estimated to grow at the highest CAGR during the forecast period. These functions involve the integration of marine actuators and marine valves in existing ships during their maintenance, repair, and overhaul. The damaged components of ships, such as equipment or systems, include ballast and bilge systems, fuel and propulsion systems, and refrigeration systems, among others, are sent for MRO services, which also includes upgrading, maintenance, repairs, and refurbishments. Therefore, the timely inspection of marine actuators and marine valves is essential to ensure the effective functioning of ships to prevent the chances of engineering equipment getting damaged. This, in turn, is leading to an increased demand for replacement of marine actuators and marine valves.

The Asia Pacific is estimated to account for the majority of the global marine actuators and valves market share in 2019.

The Asia Pacific is expected to lead the global marine actuators and valves market in 2019. China, India, Japan, South Korea, Singapore, Australia, are considered for market analysis in the Asia Pacific region. Major shipbuilding companies headquartered in China and South Korea include China State Shipbuilding Corporation (CSSC), China Shipbuilding Industry Corporation (CSIC), Dalian Shipbuilding Industry Company (DSIC), Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, and Guangzhou Shipyard International. According to the World Shipbuilding Statistics, 2015, China accounted for 33% of all new commercial shipbuilding orders globally, thereby making it the largest market for marine actuators and marine valves.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Premium Insights
3.1 Attractive Opportunities in Marine Actuators and Valve Market
3.2 Marine Actuators and Valve Market, By Product
3.3 Marine Actuators Market, By Type
3.4 Marine Actuators and Valve Market, By Region

4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Rise in Seaborne Trade Leading to Growing Requirement for Fleet of Merchant Ships
4.2.1.2 Growth of Maritime Tourism Industry
4.2.1.3 Focus of Navies Worldwide to Procure Advanced Vessels
4.2.2 Restraints
4.2.2.1 Formulation and Implementation of Stringent Regulatory Norms That Must be Complied By Valve and Actuator Manufacturers
4.2.3 Opportunities
4.2.3.1 Technological Advances Would Lead to Increased Demand for Actuators for Several Applications in Marine Vessels
4.2.3.2 Introduction of Lightweight and Durable Valves
4.2.3.3 Growth in use of Inland Waterways
4.2.4 Challenges
4.2.4.1 Power Consumption, Noise, and Leakage Issues Associated With Actuators and Valves

5 Industry Trends
5.1 Introduction
5.2 Technology Trends
5.2.1 Adoption of Electric Actuators in Marine Vessels and Surface Ships
5.2.2 Development of Actuation Systems for Autonomous Underwater Vehicle (AUV)
5.2.3 Rising Usage of Explosion-Proof Actuators
5.2.4 USE of Advanced Materials
5.3 Marines Actuators and Valves Ecosystem
5.3.1 Prominent Players
5.3.1.1 OEM
5.3.1.2 Aftermarket
5.4 Design Landscape
5.4.1 Component Design
5.4.1.1 Weight
5.4.1.2 Strength
5.4.2 Marine Operations
5.4.2.1 Durability
5.4.2.2 Reparability
5.4.3 Manufacturing
5.4.3.1 Raw Material
5.4.3.2 Reproducibility
5.5 Innovation and Patent Registrations

6 Marine Actuators and Valves Market, By Product
6.1 Introduction
6.2 Marine Valves Market, By Type
6.2.1 Quarter-Turn Valves
6.2.1.1 Ball Valves
6.2.1.2 Butterfly Valves
6.2.1.3 Plug Valves
6.2.1.4 Others
6.2.2 Multi-Turn Valves
6.2.2.1 Globe Valves
6.2.2.2 Gate Valves
6.2.2.3 Diaphragm Valves
6.2.2.4 Others
6.3 Marine Actuator Market, By Type
6.3.1.1 Linear Actuators
6.3.1.1.1 Rod-Type Linear Actuators
6.3.1.1.2 Screw-Type Linear Actuators
6.3.1.1.3 Belt-Type Linear Actuators
6.3.1.2 Rotary Actuators
6.3.1.2.1 Quarter-Turn Actuators
6.3.1.2.2 Multi-Turn Actuators

7 Marine Actuators and Valves Market, By Mechanism
7.1 Introduction
7.1.1.1 Pneumatic
7.1.1.2 Hydraulic
7.1.1.3 Electric
7.1.1.4 Mechanical
7.1.1.5 Manual
7.1.1.6 Hybrid

8 Marine Actuators and Valves Market, By Component
8.1 Introduction
8.2 Marine Valves Market, By Component
8.2.1 Valve Body
8.2.2 Valve Bonnet
8.2.3 Valve Trim
8.3 Marine Actuators Market, By Component
8.3.1 Cylinders
8.3.2 Drives
8.3.3 Manifolds

9 Marine Actuators and Valves Market, By Design Characteristics
9.1 Introduction
9.2 Marine Valves Market, By Size
9.2.1 Up to 1
9.2.1.1 Up to 1 Control Valves are Increasingly Being Used in Commercial Vessels
9.2.2 >1 to 4
9.2.2.1 >1" to 4 Marine Valves are Most Commonly Used Valves in Marine Vessels
9.2.3 >4 to 6
9.2.3.1 >4"To6" Marine Valves are Used in Medium-Pressure Applications
9.2.4 >6 to 9
9.2.4.1 >6" to 9" Valves are Increasingly Being Used in Defense Vessels
9.2.5 >9 to 15
9.2.5.1 >9 to 15 Marine Valves are Widely Used in Oil Tankers
9.2.6 15 and Above
9.2.6.1 >15 Valves are Used in Aircraft Carriers
9.3 Marine Actuators Market, By Thrust
9.3.1 <_0 />9.3.2 10 Kn to 100 Kn
9.3.3 >100 Kn
9.4 Marine Actuator Market, By Torque
9.4.1 <_0 />9.4.2 10 Knm-100 Knm
9.4.3 >100 Knm

10 Marine Actuators and Valves Market, By Application
10.1 Introduction
10.2 Ballast and Bilge System
10.3 Fuel and Propulsion System
10.4 Liquid Cargo System
10.5 Refrigeration Systems
10.6 Heat, Ventilation, and Air-Conditioning (Hvac) System
10.7 Fire Fighting System
10.8 Portable Water System
10.9 Others

11 Marine Actuators and Valves Market, By Platform
11.1 Introduction
11.2 Commercial
11.2.1 Passenger Vessels
11.2.1.1 Yachts
11.2.1.2 Ferries
11.2.1.3 Cruises
11.2.2 Cargo Vessels
11.2.2.1 Container Vessels
11.2.2.2 Bulk Carriers
11.2.2.3 Tankers
11.2.2.4 General Cargo Ships
11.2.3 Others
11.2.3.1 Fishing Vessels
11.2.3.2 Dredgers
11.2.3.3 Tugs and Pushing Boats
11.2.3.4 Research Vessels
11.2.3.5 Motorboats
11.2.4 Defense
11.2.4.1 Destroyers
11.2.4.2 Frigates
11.2.4.3 Corvettes
11.2.4.4 Submarines
11.2.4.5 Offshore Support Vessels
11.2.4.6 Aircraft Carriers
11.2.4.7 Amphibious Ships
11.2.4.8 Others

12 Marine Actuators and Valves Market, By Material
12.1 Introduction
12.2 Aluminum
12.2.1 Aluminum Actuators and Valves are Increasingly Being Used in Commercial Ships
12.3 Stainless Steel
12.3.1 Stainless Steel Valves and Actuators are in Demand for use in Recreational Boats
12.4 Alloy Based
12.4.1 Brass and Bronze Material-Based Valves and Actuators Find Applications in Commercial Ships
12.5 Others

13 Marine Actuators and Valves Market, By End User
13.1 Introduction
13.2 Original Equipment Manufacturer (OEM)
13.2.1 Increased Manufacturing of Commercial Ships Installed With Advanced Technology-Based Components Boost Growth of OEM Segment
13.3 Aftermarket
13.3.1 Growing Emphasis on Replacement of Aging Systems and Components for Improved Operational Efficiency Drive Market for Aftermarket Segment

14 Regional Analysis
14.1 Introduction
14.2 North America
14.2.1.1 US
14.2.1.1.1 Upcoming US Naval Fleet Modernization Program Leading to Increased Demand for Marine Actuators and Valves in Country
14.2.1.2 Canada
14.2.1.2.1 Canada Government's Strategic Decision to Develop Its Own Indigenous Marine Industry Fuels Growth of Marine Actuator and Valve Market in This Country
14.3 Europe
14.4 Asia Pacific
14.5 Middle East
14.6 Rest of the World (RoW)

15 Competitive Landscape
15.1 Introduction
15.2 Competitive Leadership Mapping
15.2.1 Visionary Leaders
15.2.2 Innovators
15.2.3 Dynamic Differentiators
15.2.4 Emerging Companies
15.3 Major Players in Marine Actuators and Valve Market
15.4 Competitive Scenario
15.4.1 Product Developments and Expansions
15.4.2 Contracts
15.4.3 Partnerhips, Joint Ventures, and Collaborations
15.4.4 Acquisitions

16 Company Profiles
16.1 MOOG
16.2 Honeywell International Inc.
16.3 Rotork
16.4 Emerson
16.5 Curtiss-Wright Corporation
16.6 Other Major Players
16.7 Brkert Fluid Control Systems
16.8 Flowserve Corporation
16.9 IMI PLC.
16.10 Schlumberger
16.11 KITZ Corporation
16.12 Diakont
16.13 Ultra Motion
16.14 AVK Group
16.15 Hunt Valve
16.16 Woodward
16.17 AUMA Riester GmbH & Co. Kg
16.18 Rockwell Automation
16.19 Wrtsil Corporation
16.20 Samson Group
16.21 Atlas Marine Valves
16.22 Other Major Players
16.22.1 Johnson Valves
16.22.2 Meson Group
16.22.3 Hawa Valves

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