Global Industrial Valves And Actuators Market Overview
As per MRFR analysis, the Industrial Valves And Actuators Market Size was estimated at 191.81 (USD Billion) in 2022. The Industrial Valves And Actuators Market Industry is expected to grow from 200.63 (USD Billion) in 2023 to 300.6 (USD Billion) by 2032. The Industrial Valves And Actuators Market CAGR (growth rate) is expected to be around 4.6% during the forecast period (2024 - 2032).
Key Industrial Valves And Actuators Market Trends Highlighted
The Industrial Valves and Actuators industry is experiencing significant growth, primarily driven by the increasing demand for reliable flow control mechanisms in various end-use sectors. The growing emphasis on automation and efficiency across industries is augmenting adoption of valves and actuators to enhance performance and reduce operational costs. Furthermore, need for valve replacements and upgrades in aging infrastructure is also contributing to market expansion.
Opportunities exist in the development of energy-efficient, smart and corrosion-resistant valves and actuators. Technological advancements, such as integration of automation with sensors and adoption of IoT, are also creating new opportunities for enhanced control and monitoring. Additionally, the rise of renewable energy and need for flow control in demanding applications present further growth prospects.
Recent trends indicate a shift towards remote monitoring and predictive maintenance to optimize plant operations and reduce downtime. Digitalization is becoming prevalent, with manufacturers offering cloud-based platforms for real-time monitoring and data analytics. There is also a growing demand for customized valves and actuators tailored to specific application requirements, particularly in niche industries, such as chemical processing and power generation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Valves And Actuators Market Drivers
-
Increasing Demand for Automation in Industrial Processes
The growing adoption of automation in various industrial sectors, such as manufacturing, oil and gas, and power generation, is driving the demand for industrial valves and actuators. Automated systems require precise control over fluid flow and pressure, which can be achieved using valves and actuators. The integration of these components into automated systems enhances efficiency, reduces downtime, and improves safety. Additionally, the rising need for remote monitoring and control of industrial processes is further fueling the demand for smart valves and actuators, which can be connected to industrial networks and controlled remotely. The increasing adoption of automation technologies in industries worldwide is expected to continue to be a major growth driver for the Industrial Valves And Actuators Market Industry.
Growing Infrastructure Development and Urbanization
The rapid urbanization and infrastructure development taking place globally are creating significant demand for industrial valves and actuators. The expansion of cities and the construction of new industrial facilities, commercial buildings, and transportation networks require extensive use of valves and actuators for controlling the flow of fluids in various applications.
The increasing demand for water and wastewater treatment, as well as the need for efficient energy distribution, are also contributing to the growth of the Industrial Valves And Actuators Market Industry. The ongoing infrastructure development projects in emerging economies, particularly in Asia-Pacific and the Middle East, are expected to provide ample growth opportunities for the market.
Stringent Government Regulations on Safety and Environmental Protection
Governments worldwide are implementing stringent regulations to ensure safety and minimize environmental impact in various industries. These regulations mandate the use of reliable and high-quality valves and actuators to prevent accidents, leaks and emissions. The increasing focus on environmental protection and sustainability is also driving the demand for valves and actuators that meet specific environmental standards.
The growing adoption of renewable energy sources, such as solar and wind power, is further emphasizing the need for specialized valves and actuators that can handle the unique requirements of these applications. The regulatory landscape is expected to continue to shape the Industrial Valves And Actuators Market Industry, with manufacturers focusing on developing products that comply with the latest safety and environmental standards.
Industrial Valves And Actuators Market Segment Insights:
Industrial Valves And Actuators Market Type Insights
The Industrial Valves And Actuators Market segmentation by type is expected to reach USD 120.5 billion by 2024, growing at a CAGR of 4.2% during the forecast period. The growth of the market is attributed to the increasing demand for industrial valves and actuators from various end-use industries such as oil, gas, chemicals, power generation, and water treatment. Control valves are the most widely used type of valve in the industrial valves and actuators market. They are used to regulate the flow of fluids in a system. Check valves allow fluid to flow in only one direction. Gate valves are used to isolate a section of a pipeline.
Globe valves are used to regulate the flow of fluids in a system. Butterfly valves are used to isolate a section of a pipeline. Ball valves are used to isolate a section of a pipeline. Diaphragm valves are used to isolate a section of a pipeline. Pinch valves are used to isolate a section of a pipeline. The oil gas industry is the largest end-use industry for industrial valves and actuators. The demand for valves and actuators from the oil gas industry is expected to grow in the coming years due to the increasing exploration and production activities in the oil gas sector. The chemicals industry is another major end-use industry for industrial valves and actuators. The demand for valves and actuators from the chemicals industry is expected to grow in the coming years due to the increasing demand for chemicals from various end-use industries.
The Asia-Pacific region is the largest market for industrial valves and actuators. The growth of the market in the Asia-Pacific region is attributed to the increasing demand for industrial valves and actuators from various end-use industries in the region. The North American region is the second-largest market for industrial valves and actuators. The growth of the market in the North American region is attributed to the increasing demand for industrial valves and actuators from various end-use industries in the region. The European region is the third-largest market for industrial valves and actuators. The growth of the market in the European region is attributed to the increasing demand for industrial valves and actuators from various end-use industries in the region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Valves And Actuators Market End-Use Industry Insights
The Industrial Valves And Actuators Market is segmented into various end-use industries, including oil and gas, power generation, water and wastewater treatment, chemical processing, mining, pharmaceuticals, and food and beverage. Among these, the oil and gas industry holds a significant share of the market due to the extensive use of valves and actuators in exploration, production, transportation, and refining processes. The power generation industry is also a major consumer, driven by the need for reliable and efficient flow control in power plants. Furthermore, the water and wastewater treatment industry is witnessing steady growth as governments and industries invest in infrastructure to ensure clean and safe water.
The chemical processing industry also presents a significant opportunity for valve and actuator manufacturers, with demand for specialized valves that can withstand harsh chemicals and extreme conditions. Other end-use industries, such as mining, pharmaceuticals, and food and beverage, also contribute to the overall Industrial Valves And Actuators Market revenue, albeit to a lesser extent.
Industrial Valves And Actuators Market Actuator Type Insights
The Actuator Type segment in the Industrial Valves And Actuators Market holds significant importance, with diverse offerings catering to specific industry demands. Pneumatic Actuators, Electric Actuators, Hydraulic Actuators, and Manual Actuators are the key types within this segment. Among these, Pneumatic Actuators dominate the market, accounting for a substantial share due to their cost-effectiveness, simplicity, and reliability in various applications. Electric Actuators are gaining traction, particularly in automated processes and industries seeking precision control.
Hydraulic Actuators offer high force and torque capabilities, making them suitable for heavy-duty applications. Manual Actuators, while accounting for a smaller share, are used in low-power and emergencies. The Industrial Valves And Actuators Market segmentation provides granular market data, enabling stakeholders to target specific segments and tailor their strategies accordingly.
Industrial Valves And Actuators Market Material Insights
The Material segment of the Industrial Valves And Actuators Market is anticipated to witness significant growth over the forecast period. In 2023, the Metal sub-segment held the largest market share, accounting for around 60% of the overall revenue. The widespread adoption of metal valves in various industries, such as oil gas, chemical processing, and power generation, is attributed to their durability, strength, and ability to withstand high temperatures and pressures. Plastic valves are projected to exhibit a promising growth rate during the forecast period due to their lightweight, corrosion resistance, and cost-effectiveness.
The increasing demand for plastic valves in water treatment and distribution systems, as well as the food and beverage industry, is expected to drive the growth of this sub-segment. Ceramic valves are anticipated to gain traction in specialized applications, such as high-temperature environments and corrosive media, owing to their excellent chemical resistance and wear resistance. Composite valves, which combine the properties of different materials, are expected to find niche applications in industries demanding both strength and lightweight construction.
Industrial Valves And Actuators Market Regional Insights
The Industrial Valves And Actuators Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest share of the market in 2023, with a market size of 200.63 billion USD. The growth of the market in North America is attributed to the increasing demand for industrial valves and actuators from various end-use industries, such as oil and gas, power generation, and chemicals. Europe is the second-largest market for industrial valves and actuators, with a market size of 100.3 billion USD in 2023.
The region is expected to grow at a CAGR of 4.2% from 2023 to 2032. The increasing demand for industrial valves and actuators from the automotive, food and beverage, and pharmaceutical industries drives the growth of the market in Europe. APAC is the fastest-growing market for industrial valves and actuators, with a market size of 60.2 billion USD in 2023. The region is expected to grow at a CAGR of 5.1% from 2023 to 2032. The growth of the market in APAC is attributed to the increasing demand for industrial valves and actuators from the construction, infrastructure, and power generation industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Valves And Actuators Market Key Players And Competitive Insights:
Major players in the industrial valve and actuator market industry are constantly striving to gain a competitive edge. Leading Industrial Valves And Actuators Market players are focusing on developing innovative products and solutions to meet the evolving needs of customers. The Industrial Valves And Actuators Market development is driven by factors such as increasing demand for automation in various industries, rising investments in infrastructure projects, and growing awareness about safety and efficiency. The Industrial Valves And Actuators Market Competitive Landscape is characterized by the presence of both global and regional players.
Emerson Electric Co. is a leading player in the Industrial Valves And Actuators Market. The company offers a wide range of industrial valves, actuators, and other related products. Emerson is known for its strong product portfolio, global presence, and commitment to innovation. The company has a strong focus on providing customized solutions to meet the specific needs of customers. Emerson is actively involved in research and development to develop new and innovative products. The company has a strong distribution network and sales force, which enables it to reach a wide customer base.
Honeywell International Inc. is another major player in the Industrial Valves And Actuators Market. The company offers a broad range of valves, actuators, and controls for various industries. Honeywell is known for its strong brand recognition, global presence, and extensive product portfolio. The company has a strong focus on providing solutions that enhance safety and efficiency. Honeywell is actively involved in research and development to develop new and innovative products. The company has a strong distribution network and sales force, which enables it to reach a wide customer base.
Key Companies in the Industrial Valves And Actuators Market Include:
- Emerson Electric Company
- Watts Water Technologies, Inc.
- Tyco Flow Control
- Pentair plc
- Velan, Inc.
- Georg Fischer AG
- Kitz Corporation
- Cameron International Corporation
- Kobelco EcoSolutions Co., Ltd.
- Schlumberger Limited
- Crane Co.
- Parker Hannifin Corporation
- Nortek, Inc.
- Flowserve Corporation
Industrial Valves And Actuators Market Industry Developments
The Industrial Valves And Actuators Market is projected to reach USD 300.6 billion by 2032, exhibiting a CAGR of 4.6% during the forecast period (2024-2032). The increasing demand for automation in various industries, such as oil and gas, power generation, and water treatment, is driving the market growth. Additionally, the growing adoption of smart valves and actuators, coupled with the rising need for efficient and reliable flow control solutions, is further propelling market expansion.
Key industry participants are focusing on product innovation and strategic collaborations to cater to the evolving demands of end-use industries. Recent developments include the launch of advanced valve technologies with improved performance and durability, as well as partnerships between valve manufacturers and automation solution providers to offer integrated flow control systems.
Industrial Valves And Actuators Market Segmentation Insights
-
Industrial Valves And Actuators Market Type Outlook
- Control Valves
- Check Valves
- Gate Valves
- Globe Valves
- Butterfly Valves
- Ball Valves
- Diaphragm Valves
- Pinch Valves
-
Industrial Valves And Actuators Market End-Use Industry Outlook
- Oil and Gas
- Power Generation
- Water and Wastewater Treatment
- Chemical Processing
- Mining
- Pharmaceuticals
- Food and Beverage
-
Industrial Valves And Actuators Market Actuator Type Outlook
- Pneumatic Actuators
- Electric Actuators
- Hydraulic Actuators
- Manual Actuators
-
Industrial Valves And Actuators Market Material Outlook
- Metal
- Plastic
- Ceramic
- Composite
-
Industrial Valves And Actuators Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia Pacific
-
Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
191.81(USD Billion) |
| Market Size 2023 |
200.63(USD Billion) |
| Market Size 2032 |
300.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.6% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Emerson Electric Company, Watts Water Technologies, Inc., Tyco Flow Control, Pentair plc, Velan, Inc., Georg Fischer AG, Kitz Corporation, Cameron International Corporation, Kobelco EcoSolutions Co., Ltd., Schlumberger Limited, Crane Co., Parker Hannifin Corporation, Nortek, Inc., Flowserve Corporation |
| Segments Covered |
Type, End-Use Industry, Actuator Type, Material, Regional |
| Key Market Opportunities |
Rising demand in oil and gas industry Growing infrastructure development Increasing use in power generation Technological advancements Expansion of chemical processing |
| Key Market Dynamics |
Increasing demand from energy, oil and gas, and chemical industries Growing adoption of automated systems and smart valves Stringent regulations and emission control standards Technological advancements and product innovation Expanding geographical presence |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Industrial Valves And Actuators Market is expected to reach a value of USD 300.6 billion by 2032, growing at a CAGR of 4.6% from 2024 to 2032.
The Asia-Pacific region is expected to hold the largest share of the Industrial Valves And Actuators Market, accounting for over 40% of the global market.
The oil and gas industry is expected to be the largest application segment, accounting for over 30% of the Industrial Valves And Actuators Market.
Some of the key competitors in the Industrial Valves And Actuators Market include Emerson Electric Co., Flowserve Corporation, and Schlumberger Limited.
The increasing demand for automation in industrial processes, the growing adoption of digital technologies, and the rising need for energy efficiency are some of the key trends driving the growth of the Industrial Valves And Actuators Market.
The high cost of raw materials, the fluctuating prices of oil and gas, and the intense competition from low-cost manufacturers are some of the challenges faced by the Industrial Valves And Actuators Market.
The growing demand for smart and connected devices, the increasing adoption of Industry 4.0 technologies, and the expanding application of industrial valves and actuators in emerging industries are some of the opportunities for growth in the Industrial Valves And Actuators Market.
The Industrial Valves And Actuators Market is expected to grow at a CAGR of 4.6% from 2024 to 2032.
The increasing demand for automation in industrial processes, the growing adoption of digital technologies, and the rising need for energy efficiency are some of the key factors driving the growth of the Industrial Valves And Actuators Market.
The high cost of raw materials, the fluctuating prices of oil and gas, and the intense competition from low-cost manufacturers are some of the key challenges faced by the Industrial Valves And Actuators Market.
