NEW
YORK, June 10, 2024 /PRNewswire/ -- The global
industrial valves and actuators market size is estimated to grow by
USD 18.67 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of 4.85% during the forecast
period. Increasing investments in modernizing industrial
facilities is driving market growth, with a trend
towards evolution of valve diagnostics.
However, competitive pricing strategy of low-cost asian
manufacturers poses a challenge. Key market players include
ABB Ltd., ACTUATECH Spa, AUMA Riester GmbH and Co. KG, Automation
Technology Inc., AVK Holding AS, BOMAFA Armaturen GmbH, Danfoss AS,
EBRO ARMATUREN Gebr. Broer GmbH, Emerson Electric Co., Flowserve
Corp., General Electric Co., Georg Fischer Ltd., Honeywell
International Inc., MRC Global Inc., Rotork Plc, SAMSON AG, Schlumberger Ltd., The Weir Group
Plc, Velan Inc., and WAMGROUP Spa.
Get a detailed analysis on regions, market
segments, customer landscape, and companies - View the
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Industrial
quarter-turn valves, Multi-turn valves, Industrial control valves,
and Industrial actuators), End-user (Chemical and petroleum
industry, Water and wastewater industry, Power industry, Mining and
minerals industry, and Others), and Geography (APAC, Europe, North
America, Middle East and Africa, and South America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
ABB Ltd., ACTUATECH
Spa, AUMA Riester GmbH and Co. KG, Automation Technology Inc., AVK
Holding AS, BOMAFA Armaturen GmbH, Danfoss AS, EBRO ARMATUREN Gebr.
Broer GmbH, Emerson Electric Co., Flowserve Corp., General Electric
Co., Georg Fischer Ltd., Honeywell International Inc., MRC Global
Inc., Rotork Plc, SAMSON AG, Schlumberger Ltd., The Weir Group Plc,
Velan Inc., and WAMGROUP Spa
|
Key Market Trends Fueling Growth
The global industrial valves and actuators market is
experiencing significant growth due to the increasing importance of
control valves in modern automation. Valve diagnostics, facilitated
by microprocessor-based systems and information integration, enable
real-time monitoring and online data gathering. This leads to
improved process output, enhanced process integrity, and proactive
problem solving.
Continuous and offline diagnostic information provide valuable
insights into valve performance and failure detection, while online
data gathering allows real-time analysis and action. These factors
collectively contribute to the market's expansion.
The Industrial Valves and Actuators market is experiencing
significant growth, with a focus on innovation and technology.
Valves, such as ball, gate, check, and regulation valves, are
essential components in various industries. Actuators, including
pneumatic, electric, and hydraulic, are used to automate valve
operation. The trend towards sustainability and energy efficiency
is driving the demand for smart valves and actuators.
Additionally, the need for increased process control and safety
is leading to the adoption of advanced technologies like IoT and AI
in valve and actuator systems. The market for cryogenic, diaphragm,
and ANSI valves is also growing, as is the demand for cast iron and
plastic valves. The future of the market lies in the development of
cost-effective, reliable, and high-performance valves and
actuators.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The Asian industrial valves and actuators market is thriving
due to affordable labor, land, and raw materials. End-users seek
cost-effective solutions, leading OEMs to collaborate with
subcomponent suppliers. Low-cost Asian manufacturers have dominated
the market with their pricing, challenging established Western
vendors.
- To remain competitive, global vendors must consider mergers and
acquisitions for horizontal integration and market expansion. These
factors may hinder the growth of the global industrial valves and
actuators market.
- The Industrial Valves and Actuators market faces several
challenges. Valves are essential for controlling the flow of gases
and liquids in various industries. Actuators, on the other hand,
are used to automate the opening and closing of valves. Cryogenic,
diaphragm, ball, and plug valves are commonly used in this
sector.
- Actuators include pneumatic, electric, hydraulic, and electric
actuators. The challenge lies in ensuring the compatibility of
valves and actuators under extreme temperatures and pressures.
Checking for leakages and maintaining the required precision are
other significant challenges. Additionally, the need for energy
efficiency and cost-effectiveness adds to the complexity of the
market. The market requires continuous innovation to meet these
challenges.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
- Product
- 1.1 Industrial quarter-turn valves
- 1.2 Multi-turn valves
- 1.3 Industrial control valves
- 1.4 Industrial actuators
- End-user
- 2.1 Chemical and petroleum industry
- 2.2 Water and wastewater industry
- 2.3 Power industry
- 2.4 Mining and minerals industry
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Industrial quarter-turn valves- The
industrial valves and actuators market encompasses quarter-turn
valves, including ball, butterfly, and plug valves. These valves
are widely used due to their ease of maintenance, compatibility
with chemical media, compact design, and low-pressure drop. Ball
valves, made of steel or nickel-plated bodies, are popular in oil
and gas industries for their durability and linear flow
direction.
Butterfly valves, lightweight and with a gearbox, offer
high-pressure recovery and are expected to increase in demand for
pipeline transportation in the oil and gas sector. Plug valves,
smaller and with minimal resistance to fluid flow, are suitable for
quick and frequent control applications across various industries.
The growth of the market is driven by infrastructure construction,
brownfield expansions, and pipeline transportation projects.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Industrial Valves and Actuators market encompasses a wide
range of products, including Ball Valves, Butterfly Valves, Gate
Valves, Globe Valves, Check Valves, Plug Valves, Diaphragm Valves,
Control Valves, Solenoid Valves, Electric Actuators, Manual
Actuators, Quarter-turn Valves, Multi-turn Valves, Rising Stem
Valves, Linear Actuators, Rotary Actuators, Smart Valves, Cryogenic
Valves, Cast Iron Valves, Brass Valves, and Plastic Valves.
These components play a crucial role in various industrial
processes by regulating, controlling, and directing the flow of
fluids and gases. Applications span across power generation, oil
and gas, water and wastewater treatment, and chemical processing
industries. Market growth is driven by factors such as increasing
industrialization, infrastructure development, and stringent
regulations for safety and efficiency.
Market Research Overview
The Industrial Valves and Actuators market encompasses the
production, distribution, and installation of valves and actuators
used in various industries. Valves are essential components in
process control systems, enabling the regulation of fluid flow,
pressure levels, and temperature. Actuators, on the other hand,
convert energy into mechanical motion, allowing valves to open,
close, or modulate flow.
These products find extensive applications in sectors like oil
and gas, power, water and wastewater, and chemicals. The market's
growth is driven by factors such as increasing industrialization,
infrastructure development, and the need for process automation.
Additionally, advancements in technology lead to the production of
more efficient, reliable, and cost-effective valves and
actuators.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Industrial Quarter-turn Valves
- Multi-turn Valves
- Industrial Control Valves
- Industrial Actuators
- End-user
-
- Chemical And Petroleum Industry
- Water And Wastewater Industry
- Power Industry
- Mining And Minerals Industry
- Others
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio