Global Valves And Actuators Market Overview:
As per MRFR analysis, the Valves And Actuators Market Size was estimated at 77.95 (USD Billion) in 2022. The Valves And Actuators Market Industry is expected to grow from 81.65(USD Billion) in 2023 to 123.9 (USD Billion) by 2032. The Valves And Actuators Market CAGR (growth rate) is expected to be around 4.74% during the forecast period (2024 - 2032).
Key Valves And Actuators Market Trends Highlighted
The valves and actuators market is projected to grow significantly in the coming years, driven by rising demand from the oil and gas, power generation, and water treatment industries. Increasing automation and digitalization in these industries are also driving demand for valves and actuators. Key market drivers include the growing need for efficient fluid control, increasing investments in infrastructure, and the adoption of advanced technologies.
The market is also witnessing the emergence of smart valves and actuators that offer remote monitoring and control capabilities. Opportunities in the valves and actuators market lie in the development of new technologies, such as digital twins and artificial intelligence, for enhanced efficiency and reliability. Additionally, the growing focus on energy efficiency and environmental sustainability is creating opportunities for valves and actuators with improved performance and reduced emissions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Valves And Actuators Market Drivers
Increasing Demand for Automation in Industrial Processes
The growing adoption of automation in industrial processes is a significant driver of the Valves And Actuators Market Industry. As industries strive to enhance efficiency, reduce costs, and improve safety, they are increasingly investing in automated systems that incorporate valves and actuators. Valves control the flow of fluids and gases, while actuators provide the power to operate these valves.
The integration of valves and actuators into automated systems enables precise control and monitoring of fluid and gas flow, leading to improved process efficiency and reduced downtime. Furthermore, the advent of Industry 4.0 and the Industrial Internet of Things (IIoT) is furthering the demand for automated valves and actuators, as these technologies enable remote monitoring and control of valves and actuators, enhancing operational efficiency and reducing maintenance costs.
Rising Demand for Valves and Actuators in Water and Wastewater Treatment
The growing global population and increasing urbanization are placing a strain on water resources, leading to a rise in demand for efficient water and wastewater treatment solutions. Valves and actuators play a crucial role in these processes, as they control the flow and distribution of water and wastewater. The need for reliable and efficient valves and actuators is particularly high in water-scarce regions, where effective water management is essential.
Moreover, stringent government regulations regarding water quality and environmental protection are also driving the demand for advanced valves and actuators that can ensure compliance and prevent contamination. The Valves And Actuators Market Industry is expected to benefit from the growing investments in water and wastewater treatment infrastructure, particularly in developing countries.
Expansion of Oil and Gas Industry
The expansion of the global oil and gas industry is another key driver of the Valves And Actuators Market Industry. Valves and actuators are essential components in oil and gas exploration, production, and transportation. They control the flow of oil and gas, ensuring safe and efficient operations.
As the demand for energy continues to rise, oil and gas companies are investing in new exploration and production projects, leading to increased demand for valves and actuators. The growing focus on offshore oil and gas exploration, particularly in deep-water environments, is also creating opportunities for specialized valves and actuators that can withstand harsh conditions.
Valves And Actuators Market Segment Insights:
Valves And Actuators Market Type Insights
The Valves And Actuators Market is segmented into various types, including control valves, isolation valves, actuators, safety valves, and check valves. Each type has its unique characteristics and applications. Control valves regulate the flow of fluids in pipelines by adjusting the position of a valve seat. They are widely used in various industries, including oil and gas, chemical processing, and power generation. The global control valves market is expected to grow significantly in the coming years due to rising demand for automation and improved efficiency in industrial processes.
Isolation valves isolate sections of a pipeline or system for maintenance or repairs. They are available in various designs, such as gate valves, ball valves, and butterfly valves. The global isolation valves market is expected to grow steadily in the coming years, driven by increasing investment in infrastructure and construction projects. Actuators valves are devices that operate valves automatically. They can be powered by electricity, hydraulics, or pneumatics. The global actuators market is expected to grow rapidly in the coming years due to increasing demand for automation and remote operation of valves.
Safety valves protect systems from overpressure by releasing excess Pressure. They are essential for safety in various industries, including oil and gas, chemical processing, and power generation. The global safety valve market is expected to grow steadily in the coming years due to increasing demand for improved safety measures in industrial processes. Check valves allow fluid to flow in only one direction. They are used in various applications, including pumps, compressors, and pipelines. The global check valve market is expected to grow moderately in the coming years due to increasing demand for reliable and efficient flow control solutions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Valves And Actuators Market Material Insights
The Valves And Actuators Market is segmented based on material into metal, plastic, ceramic, and composite. Among these, the metal segment held the largest market share in 2023 and is projected to continue its dominance throughout the forecast period (2023-2032). The growth of this segment can be attributed to the high strength, durability, and corrosion resistance of metal valves and actuators. Metal valves and actuators are widely used in various industries, including oil and gas, power generation, and chemical processing. The plastic segment is expected to witness significant growth during the forecast period due to the increasing demand for lightweight and cost-effective valves and actuators.
Plastic valves and actuators are often used in applications where corrosion resistance and low weight are critical, such as in the food and beverage industry. The ceramic segment is also expected to grow at a steady pace during the forecast period due to the increasing demand for valves and actuators that can withstand high temperatures and harsh chemicals. Ceramic valves and actuators are often used in applications such as semiconductor manufacturing and chemical processing. The composite segment is expected to witness moderate growth during the forecast period. Composite valves and actuators are made from a combination of materials, such as metal and plastic, which offer a unique combination of properties, such as high strength, lightweight, and corrosion resistance.
Valves And Actuators Market Industry/End-user Insights
The Oil Gas industry is expected to account for a significant share of the Valves And Actuators Market revenue in 2023, owing to the rising demand for valves and actuators in oil and gas exploration and production activities. The Water Wastewater industry is also projected to witness steady growth, driven by increasing investments in water infrastructure projects and growing concerns about water scarcity. The Power Generation industry is anticipated to contribute a substantial share to the market, with the rising demand for valves and actuators in power plants to control and regulate fluid flow.
The Chemical Processing industry is expected to experience moderate growth, as valves and actuators are essential components in various chemical processing operations. The Mining industry is projected to have a modest share of the market, with the demand for valves and actuators in mining applications such as slurry handling and mineral processing.
Valves And Actuators Market Pressure Rating Insights
The Pressure Rating segment plays a pivotal role in the Valves And Actuators Market, with distinct segments catering to varying pressure requirements across industries. The low Pressure (0-100 psi) segment held a significant market share in 2023, driven by its wide application in residential and commercial buildings, water distribution systems, and HVAC systems.
The Medium Pressure (100-1,000 psi) segment is projected to witness substantial growth over the forecast period due to increasing demand from oil and gas, chemical processing, and power generation industries.High Pressure (1,000 psi and above) segment is anticipated to gain traction in specialized applications such as aerospace, defense, and high-pressure hydraulic systems.
Valves And Actuators Market Actuation Type Insights
The Actuation Type segment of the Valves And Actuators Market is classified into Manual, Pneumatic, Hydraulic, Electric, and Solenoid. Among these, the Pneumatic segment held the largest market share in 2023, accounting for over 35% of the Valves And Actuators Market revenue. The growth of this segment can be attributed to the increasing demand for pneumatic actuators in various end-use industries such as oil and gas, power generation, and manufacturing.
The Electric segment is expected to witness the highest growth rate during the forecast period, owing to the rising adoption of electric actuators in industrial automation and process control applications. The Valves And Actuators Market data indicates that the Electric segment is projected to reach a market valuation of around 25 billion USD by 2027. The Hydraulic segment is another significant segment in the Valves And Actuators Market, with a market size of approximately 15 billion USD in 2023. The Manual and Solenoid segments account for the remaining share of the Valves And Actuators Market.
Valves And Actuators Market Regional Insights
The Valves And Actuators Market is segmented into North America, Europe, APAC, South America, and MEA. Regionally, North America is expected to hold the largest market share in the Valves And Actuators Market owing to the increasing demand for valves and actuators in various industries such as oil and gas, power generation, and water treatment. Europe is expected to be the second-largest market for valves and actuators due to the presence of a large number of manufacturing industries in the region.
The APAC region is expected to be the fastest-growing market for valves and actuators due to the increasing industrialization and infrastructure development in the region. South America and MEA are expected to be smaller markets for valves and actuators due to the lower levels of industrialization in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Valves And Actuators Market Key Players And Competitive Insights:
Major players in the Valves And Actuators Market industry are focusing on expanding their global presence through strategic acquisitions and partnerships. Leading Valves And Actuators Market players are investing heavily in research and development to introduce innovative products and solutions that meet the evolving needs of customers. The Valves And Actuators Market is characterized by intense competition, with numerous global and regional players vying for market share. Key players in the market include Emerson, Flowserve, Honeywell, IMI, and Schlumberger. These companies offer a wide range of valves and actuators, catering to diverse industries such as oil and gas, power generation, and water treatment.
The Valves And Actuators Market Competitive Landscape is expected to remain highly competitive in the coming years, driven by factors such as technological advancements, increasing demand from emerging economies, and the need for efficient and reliable fluid control systems. Emerson is a global technology and engineering company that provides innovative solutions for a wide range of industries, including the Valves And Actuators Market. The company offers a comprehensive portfolio of valves, actuators, and related products designed to meet the specific requirements of various applications. Emerson's focus on innovation and customer satisfaction has enabled it to establish a strong position in the market.
The company's commitment to sustainability is also reflected in its products and solutions, which are designed to minimize environmental impact and maximize energy efficiency. Flowserve is a leading provider of fluid motion and control products and services for the global infrastructure market. The company's extensive product line includes valves, actuators, pumps, seals, and automation solutions. Flowserve has a strong presence in the oil and gas, power generation, and chemical processing industries. The company's focus on providing reliable and efficient solutions has earned it a reputation for excellence in the Valves And Actuators Market. Flowserve's commitment to innovation and customer service has also contributed to its success in the market.
Key Companies in the Valves And Actuators Market Include:
- Spirax Sarco Engineering plc
- KSB
- Parker Hannifin Corporation
- Emerson
- Schlumberger
- Pentair
- Rockwell Automation
- Schneider Electric
- IMI plc
- Crane Co.
- Danfoss
- Honeywell International Inc
- General Electricc
- Flowserve Corporation
Valves And Actuators Market Industry Developments
The global valves and actuators market is projected to reach USD 123.9 billion by 2032, exhibiting a CAGR of 4.74% during the forecast period (2024-2032). Increasing demand for automation in various industries, such as oil and gas, power generation, and water treatment, is a key factor driving market growth. Additionally, rising investments in infrastructure development and urbanization in emerging economies are expected to boost demand for valves and actuators.
Recent developments in the market include the adoption of digital technologies, such as the Industrial Internet of Things (IIoT), which enables remote monitoring and control of valves and actuators, enhancing efficiency and reducing maintenance costs. Furthermore, advancements in materials and manufacturing techniques are leading to the development of more durable and reliable valves and actuators, catering to the demanding requirements of various industries.
Valves And Actuators Market Segmentation Insights
-
Valves And Actuators Market Type Outlook
- Control Valves
- Isolation Valves
- Actuators
- Safety Valves
- Check Valves
-
Valves And Actuators Market Material Outlook
- Metal (Steel, Stainless Steel)
- Plastic (PVC, CPVC)
- Ceramic
- Composite
-
Valves And Actuators Market Industry/End-user Outlook
- Oil Gas
- Water Wastewater
- Power Generation
- Chemical Processing
- Mining
-
Valves And Actuators Market Pressure Rating Outlook
- Low Pressure (0-100 psi)
- Medium Pressure (100-1,000 psi)
- High Pressure (1,000 psi and above)
-
Valves And Actuators Market Actuation Type Outlook
- Manual
- Pneumatic
- Hydraulic
- Electric
- Solenoid
- Valves And Actuators Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
77.95(USD Billion) |
| Market Size 2023 |
81.65(USD Billion) |
| Market Size 2032 |
123.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.74% (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 |
Spirax Sarco Engineering plc, KSB, Parker Hannifin Corporation, Emerson, Schlumberger, Pentair, Rockwell Automation, Schneider Electric, IMI plc, Crane Co., Danfoss, Honeywell International Inc, General Electricc, Flowserve Corporation |
| Segments Covered |
Type, Material, Industry/End-user, Pressure Rating, Actuation Type, Regional |
| Key Market Opportunities |
Rising demand in oil and gas industry Growing industrial automation Infrastructure development in emerging economies Increasing need for water and wastewater management Advancements in materials and technologies |
| Key Market Dynamics |
1 Rising demand for automated systems2 Technological advancements in valve designs3 increasing focus on energy efficiency4 stringent regulations on emissions and safety5 growth of industrial automation |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
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Frequently Asked Questions (FAQ) :
The Global Valves And Actuators Market is expected to reach a valuation of 81.65 billion USD in 2023.
The Global Valves And Actuators Market is expected to grow at a CAGR of 4.74% from 2024 to 2032.
The Asia-Pacific region is expected to hold the largest market share in the Global Valves And Actuators Market in 2023.
The oil and gas segment is expected to account for the largest share of the Global Valves And Actuators Market in 2023.
Some of the key competitors in the Global Valves And Actuators Market include Emerson, Flowserve, and Schlumberger.
The key growth drivers of the Global Valves And Actuators Market include rising demand from the oil and gas industry, increasing infrastructure development, and growing awareness of the need for efficient valve systems.
The key challenges faced by the Global Valves And Actuators Market include intense competition, fluctuating raw material prices, and stringent government regulations.
The key trends in the Global Valves And Actuators Market include increasing adoption of digital technologies, rising demand for automated valve systems, and growing focus on sustainability.
The key opportunities in the Global Valves And Actuators Market include expanding applications in emerging industries, growing demand for customized valve solutions, and increasing investment in research and development.
The key threats to the Global Valves And Actuators Market include economic downturns, technological disruptions, and geopolitical uncertainties.
