Home / Press Release / Actuator And Valve Market to Grow at an Estimated CAGR of 6.5% During the Forecast Period 2022-2030

Actuator And Valve Market to Grow at an Estimated CAGR of 6.5% During the Forecast Period 2022-2030

The global actuators & valves market is anticipated to expand at a CAGR of 6.5% during the forecast period of 2022 and 2030. Actuators and valves are utilized in numerous industries to regulate and steer the flow of fluids during numerous procedures. A valve regulates or controls the flow of a fluid by opening, closing, or partially obstructing many tubes (gases, liquids, or slurries). An actuator is a component of a machine that adjusts or moves a valve. As actuators modify the position of the plug or disc of the valve, the valve regulates the flow rate of the fluid. Actuators and valves are utilized in a variety of industries, such as water and wastewater treatment, food and beverage, oil and gas, refining, paper and pulp, mining, chemical, healthcare, maritime, and energy. In addition, technologically advanced processing techniques are predicted to alter the market outlook for actuators and valves. In the near future, the market is predicted to witness a significant expansion due to the aforementioned aspects. Changes in environmental regulations and the number of new product introductions also contribute to the growth of the actuators & valves market. However, the lack of product differentiation impedes the market growth. Moreover, the increasing use of robotics presents substantial business opportunities.

The market for industrial actuators is segmented by the system into mechanical, electric, pneumatic, and hydraulic submarkets. The widespread usage of pneumatic actuators in the mining and extraction, energy and power, chemical, and oil and gas industries drive the pneumatic actuators market. Additionally, these are utilized in the food and beverage business. Due to the frequent usage of water and other conductive fluids on the production floor, numerous industries avoid adopting electric actuators.

Due to its extensive use in natural gas production, crude oil extraction, and refining, the oil and gas industry accounted for the greatest share of market sales in 2021. Moreover, roughly 10% of installed valves are replaced annually due to the increasing stringency of safety standards. The water and wastewater business includes application activities such as providing water for industrial purposes and treating industrial effluent. This is expected to propel market expansion over the forecast period.

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The segment of industrial valves is anticipated to be dominated by ball valves between 2022 and 2030. These are favored for steam and condensate applications and are consequently utilized extensively in the energy and power industry. Their limited maximum pressure rating and inability to operate in extremely high-pressure situations is the only aspect that limits their demand.

With a CAGR of 5.2% during the forecast period, linear actuators are projected to lead the market for industrial actuators. This is a result of the increased demand for combustion control, improved efficiency, and lower production costs. In addition to increased industrial automation in emerging nations, stringent environmental requirements are expected to increase demand for the same.

Asia-Pacific held the largest proportion of the industrial valves and actuators market in 2021. This is due to the fact that key emerging economies like China and India are spending heavily on valve production to fulfill the expanding demand in industries including water and wastewater, food and beverage, energy and power, and others. During the period of projection, the Middle East and Africa are expected to expand at the second-fastest rate, 4.5% per year. In North America, the United States dominated the market because of the variety of applications in industries such as chemicals, oil and gas, energy and power, water and wastewater, and food and beverage.

Due to a large number of small and medium-sized businesses, the market is highly fragmented. In such a price-sensitive industry, corporations have continually engaged in strategic activities such as mergers and acquisitions, joint ventures, product launches, and partnerships in order to maintain their market dominance. This is aimed to increase their global and regional presence and broaden their product offering to customers. Emerson Electric Co., Flowserve Corporation, IMI plc, Alfa Laval AB, AVK Holding A/S, Eaton, Honeywell International, Inc., Velan, Inc., and ValvitaliaSpA are notable companies in the industry. These competitors have made large investments in R&D to develop novel solutions and gain a competitive advantage.

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