Industrial Valves And Actuators Industry
The global industrial valves and actuators market size is expected to reach USD 207.45 billion by 2030, registering a CAGR of 5.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing demand in the industrial sector, technological advancements propelling the use of smart valves and actuators, and stringent government regulations have bolstered market growth. The adoption of industrial valves and actuators has been on a continuous rise owing to the benefits they offer in controlling temperature and pressure throughout downstream, midstream, and upstream activities. Thus, growing oil and gas exploration activities have triggered the demand for industrial valves and actuators.
Increasing global water stress, coupled with industrial wastewater disposal in aquatic ecosystems, has led to an urgent need for water reclamation. In order to curb these rising issues, demand for effective treatment equipment systems has increased, thereby opening up immense opportunities in water and wastewater industries. Furthermore, 3D printing, also known as additive manufacturing (AM), has the potential to transform the production of industrial valves and actuators. A myriad of conventional designs and products, including check valves, gate valves, and servo valves, can now be developed using 3D printing technology. The technology is helping valve manufacturers in changing the approach from “Just-in-time (JIT) delivery” to “JIT manufacturing”.
Asia Pacific is expected to dominate the market over the forecast period owing to rising subsea explorations and increasing investments in industries such as chemical, water and wastewater, and energy and power. Moreover, expanding the production of oil sands and shale gas in North America and growing exploration in regions such as Africa and Asia have spurred market demand. Replacement of old and inefficient valves with more efficient ones for gas transportation in midstream infrastructure is also anticipated to boost demand over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Industrial Valves And Actuators market
Industrial Valves And Actuators Market Segments Highlights:
- The linear segment accounted for the highest revenue share of 52.2% in 2022 and is estimated to register the fastest CAGR of 4.9% over the forecast period. It is owing to the rising need for combustion control, increased efficiency, and reduced production costs.
- The ball valves segment had the highest revenue share of 21.3% in 2022. These are generally preferred for steam and condensate applications and hence, find extensive use across the energy and power sector.
- Asia Pacific dominated the market and accounted for the highest revenue share of 39.2% in 2022 and is expected to witness a significant CAGR of 6.0% over the forecast period due to increasing demand from industries such as oil & gas, water & wastewater, and energy & power in emerging economies like China and India
Industrial Valves And Actuators Market Report Segmentation
Grand View Research has segmented the global industrial valves and actuators market on the basis of on product, system, end-use, and region:
Industrial Valves And Actuators Product Outlook (Revenue, USD Million, 2017 - 2030)
- Industrial Valves
- Gate Valve
- Globe Valve
- Ball Valve
- Butterfly Valve
- Safety Valve
- Plug Valve
- Others (Diaphragm, Check)
- Industrial Actuators
- Linear Actuator
- Rotary Actuator
Industrial Valves And Actuators System Outlook (Revenue, USD Million, 2017 - 2030)
- Industrial Actuators
- Mechanical Actuator
- Electric Actuator
- Pneumatic Actuator
- Hydraulic Actuator
Industrial Valves And Actuators End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Oil & Gas
- Chemical
- Energy & Power
- Water & Wastewater
- Pulp & Paper
- Food & Beverage
- Others (Manufacturing, Electronics, Marine, And Textiles)
Industrial Valves And Actuators Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- UAE
Key Industrial Valves And Actuators Company Insights
- ABB
- ALFA LAVAL
- AVK Holding A/S
- Avada
- Curtiss-Wright Corporation
- Delta Pacific Valve Mfg. Co.
- Eaton
- Emerson Electric Co.
- Festo Inc.
- Flowserve Corporation
- Goodwin PLC
- GWC Italia S.p.A.
- Honeywell International Inc.
- IMI
- Moog Inc.
- PARKER HANNIFIN CORP
- PETROLVALVES S.P.A
- Rotork
- SLB
- SMC Corporation
- Valvitalia SpA
- Velan Inc.
- Watts
Order a free sample PDF of the Industrial Valves And Actuators Market Intelligence Study, published by Grand View Research.
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