Allied Market Research published a report on Actuators and Valves Market by Application, Type: Global Opportunity Analysis and Industry Forecast, 2022-2031. The actuators and valves market was valued at $104.5 billion in 2021, and is estimated to reach $204.6 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.
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The actuators and valves market share is expected to witness considerable growth in coming years, owing to increase in investment by prime players of the market in actuators and valves. Furthermore, it is likely that the use of ball valves and butterfly valves has increased in recent years in a variety of applications and industries which will help propel the market positively during the forecast.
Additionally, it is projected that the market for actuators and valves would 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.
The actuators and valves Industry is likely to experience considerable growth over the course of the forecast period due to the expansion of the water and wastewater treatment industry, an increase in workplace safety requirements, and the adoption of cutting-edge processing techniques. Additionally, it is projected that the market for actuators and valves would gain significantly from the growing use of robotics in this sector during the forecast period.
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Competitive Analysis:
The company profile section of the actuators and valves market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global actuators and valves market include,
- Rotork plc
- SLB
- Crane Holdings, Co.
- Flowserve Corporation
- KITZ Corporation
- IMI plc
- Emerson Electric Co. (PENTAIR VALVES)
- General Electric Company
- Parker-Hannifin Corporation
- METSO OYJ (NELES OYJ)
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. 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.
Region-wise, North America and Europe remain a significant participant in the actuators and valves market. In Asia-Pacific, especially China is looking forward to construct manufacturing units for actuators and valves with the help of prime vendors available globally. For instance, in 2020, the Shantou wastewater treatment in Guangdong, southern China, installed over 700 CK modular actuators to treat sewage effectively.
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Key Findings of the Study
- The oil and gas segment was the highest revenue contributor to the actuators and valves market size.
- The valves segment was the highest revenue contributor to the market, with $63,389.6 million in 2021.
- The fitness centers and sports centers segments collectively accounted for around 82.45% market share in 2021.
- North America was the highest revenue contributor, for actuators and valves market share.
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