MARKET SNAPSHOT
The market size and cost of valves and actuators is projected to grow from about US$115 million in 2022 to about US$250 million in 2035. According to our valve actuator market analysis, the valve actuator market is growing at a CAGR of around 8% over the period 2023-2035.
Market overview
Devices that adjust the pressure, flow, and direction of fluids and gases by opening and closing passages are called valves. Actuators, on the other hand, convert energy into mechanical motion and use it to operate valves and other components. Actuators can be pneumatic, hydraulic, or electric and are used to control the opening and closing of valves accurately and efficiently. According to our research, wide range of applications in seawater desalination is the factor driving the growth of the valve actuator market. Seawater desalination is the purification of seawater or the decomposition of water into usable freshwater. Seawater desalination is currently a widely adopted water purification method in coastal areas where natural freshwater sources are scarce, and is also required by large-scale industries such as pharmaceuticals, semiconductors, and food and beverages. The current seawater desalination situation shows a positive trend, with the market size reaching about $25 billion, and the average annual growth rate for the remaining 10 years is expected to be about 9%. Valves and actuators play a key role in each stage of seawater desalination, regulating seawater intake to the plant and controlling the flow of water through pretreatment, reverse osmosis and posttreatment stages. .
Major Trends in the Valve Actuator Market
In March 2022, Flowserve entered into a non-exclusive agreement with Gradient. Work together on water and wastewater treatment issues. Gradiant develops and provides advanced water and wastewater treatment facilities around the world. Focused primarily on the fast-growing Asia Pacific region and the Americas, it targets customers with mission-critical needs in cleantech water and sustainable operations.
In December 2022, Parker Hannifin launched the next generation of precompensated load sensing valves under the VA Series brand. The VA series is a directional control valve designed to meet future demands in a variety of challenging mobile machinery industries such as forestry, construction, mining and material handling.
Valve Actuator Market Growth Factors
Great utility in the automation industry – Valves and actuators play an integral role in regulating the flow of gases and fluids in several industrial processes. In air conditioning systems, valves and actuators are essential for temperature and humidity control. The global industrial automation market is currently worth approximately $180 billion, with an estimated CAGR of 11%. Valves and actuators are very useful components in various industries such as oil, gas, chemical and power generation, thus driving the market demand growth during the forecast period. In addition, rising demand in the medical sector is also a factor driving the growth of the valve actuator market. The medical industry designs and builds innovative machines that require actuators. Used in medical equipment such as wheelchairs, patient lifts, treatment chairs, dental chairs, medical beds, CT, MRI, PT scan equipment.
The growth of the global medical actuator sector is mainly due to factors such as expanding medical facilities and increasing geriatric population. The number of hospitals is increasing in various countries such as the United States, India and China. In recent years, cancer has become one of the deadliest diseases in the world. In 2020, breast cancer (2.26 million) and lung cancer (2.21 million) will account for the most new cancer cases. Also, in early 2020, the novel coronavirus disease (COVID-19) broke out, causing a massive influx of patients into hospitals around the world. These factors have a positive impact on actuator trends as they are widely used in the medical field for a variety of applications. In addition, technological advances in wireless valves and actuators, as well as expanding applications in the chemical industry, are expected to contribute to the growth of the valve and actuator market.
The full research report is available here: https://www.sdki.jp/reports/valves-and-actuators-market/109665
Competitive landscape
Major players and manufacturers in the valve actuator market are Schlumberger Limited., Rotork, Flowserve Corporation, PARKER HANNIFIN CORP, Delta Pacific Supplies lnc, PetrolValves, Watts Water Technologies, GWC Italia SPA, Eaton, Bürkert, Pentair plc, SMC Corporation, Festo Corporation, Moog Inc., Siemens, Baker Hughes, Honeywell International Inc., Emersion Electric Co., Camtech Manufacturing FZCO, Valvitalia SPA, ABB, Goodwin PLC, ALFA LAVAL, Velan Inc. It includes detailed competitive analysis, company profiles, recent developments, and key market strategies for these key players in the global market.
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