Industrial Valves and Actuators Market size is set to grow by USD 18.67 billion from 2024-2028, Increasing investments in modernizing industrial facilities to boost the market growth, Technavio

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.

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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. 

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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.

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Segment Overview 

1. Product 
• 1.1 Industrial quarter-turn valves
• 1.2 Multi-turn valves
• 1.3 Industrial control valves
• 1.4 Industrial actuators
2. 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
3. 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.

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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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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