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Actuators And Valves market Growth and Trends
Actuators And Valves Market Expected to Reach $221.3 Billion by 2032 - Allied Market Research
Growth in the water and wastewater treatment industry and an increase in safety measurements in industries are the upcoming trends in the actuators and valves market.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, October 7, 2024 /EINPresswire / -- The actuators and valves market share is expected to witness considerable growth in coming years, owing to the growth in the water & wastewater industry. Additionally, the industry is anticipated to develop as a result of the increase in safety measurements in industries, technological advancements in processing methods, and changing environmental regulations. Allied Market Research, titled,“Actuators And Valves Market by Application and Type: Global Opportunity Analysis and Industry Forecast, 2023-2032," The actuators and valves market was valued at $104.2 billion in 2022, and is estimated to reach $221.3 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032.
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An actuator is a device that converts energy into motion. Actuators are used in a wide range of applications, including industrial automation, transportation, and aerospace. They can be powered by various forms of energy, such as electricity, hydraulic fluid, and pneumatic pressure. Common types of actuators include electric motors, pneumatic cylinders, and hydraulic cylinders. A valve is a mechanical device that regulates the flow of fluids, gases, or other materials. Valves are used in a wide variety of systems, including plumbing, HVAC systems, and industrial processes. They can be operated manually or automatically and can be designed to control the flow of fluids in one or multiple directions. Common types of valves include ball valves, gate valves, and globe valves.
The market for actuators and valves is likely to experience considerable growth throughout the forecast period due to the expansion of the water and wastewater treatment industry, the increase in workplace safety requirements, and the adoption of cutting-edge processing techniques. In addition, the market for actuators and valves is projected to gain significantly from the growing use of robotics in this sector during the forecast period. On the other hand, a lack of product differentiation will restrain the growth of the actuators and valves industry during the forecast period. Actuators and valves play a critical role in the oil and gas industry. They are used to control the flow of fluids, gases, and other materials in various stages of the oil and gas production process, including exploration, extraction, transportation, and refining.
Actuators used in the oil and gas industry include electric actuators, pneumatic actuators, and hydraulic actuators. Electric actuators are commonly used for on/off control valves, while pneumatic and hydraulic actuators are used for control valves that require more precise control.
Electric actuators are becoming more popular due to their increased reliability and energy efficiency. Valves used in the oil and gas industry include gate valves, globe valves, and ball valves. Gate valves are commonly used to control the flow of fluids in pipelines, while globe valves are used for more precise control. Ball valves are also commonly used in the oil and gas industry, they are durable and easy to maintain.
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Some specific valves used in the oil and gas industry include choke valves, which are used to control the flow of fluids in wellheads, and safety relief valves, which are used to protect equipment from overpressure. In addition, the oil and gas industry also requires actuators and valves that can withstand harsh environments, such as high pressure, extreme temperatures, and corrosive materials, so special materials and coatings are used.
Among applications, the oil and gas segment was the highest contributor to the market in 2022. Based on the type segment, the valves segment was the highest revenue contributor in 2021. Among actuators, the pneumatic actuators were the highest revenue contributor in 2022.
Among valves by material type, the steel segment was the highest revenue contributor in 2022. The surge in demand for actuators and valves in sectors such as oil and gas, paper and pulp, and others globally has led to the actuators and valves market growth . Region-wise, North America and Europe remain a significant participant in the actuators and valves market trends. In Asia-Pacific, especially China is looking forward to constructing manufacturing units for actuators and valves with the help of prime vendors available globally.
The key players profiled in the report include Crane Holdings, Co., Emerson Electric Co. (PENTAIR VALVES), Flowserve Corporation, General Electric Company, IMI plc, KITZ CORPORATION, METSO OYJ (NELES OYJ), PARKER-HANNIFIN CORPORATION, Rotork plc, and SLB. Top market players have adopted various strategies, such as product launch, product development, product expansion, business expansion innovation, and others to expand their foothold in the actuators and valves market analysis.
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KEY FINDINGS OF THE STUDY
- The actuators and valves market size is expected to grow significantly in the coming years, driven by growth in the water & wastewater industry and technological advancements in processing methods.
- Surge in demand for robotics can be considered as an important factor boosting the market.
- The market is highly competitive, with several major players competing for actuators and valves market share. The competition is expected to intensify in the coming years as new players enter the market. The Asia-Pacific region is expected to be a major market for the Actuators and Valves market. India, China, and Japan are the major economies that contribute to the Asia-Pacific market, owing to the increase in the 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.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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Allied Market Research
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