PUBLISHER: Allied Market Research | PRODUCT CODE: 1266326
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266326
The global actuators and valves market was valued at $104,519.8 million in 2021, and is projected to reach $204,634.64 million by 2031, registering a CAGR of 7.13% from 2022 to 2031.
An actuator is a device that converts energy into mechanical movement in order to control a valve or other mechanical device. A valve is a mechanical device that controls the flow of fluid or gas through a pipe or duct. Actuators and valves are often used together in industrial and mechanical systems to control the flow of fluids or gases and regulate pressure. Valves can be operated manually, by turning a handle or knob, or they can be controlled automatically by actuators. Some valves can also be controlled remotely by a control system.
The market for actuators and valves is expected to experience considerable growth over the course of the forecast period as a result of the development of the water and wastewater treatment industry, tightening workplace safety requirements, and the adoption of cutting-edge processing methods. 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, throughout the projected period, a lack of product differentiation will restrain the growth of the actuators and valves market.
The actuators and valves market is segmented on the basis of application, type and region. On the basis of application, the market is divided into oil and gas, paper and pulp, mining, water and wastewater, food and beverages, energy and power, automotive, Chemicals and CPI, pharma and life sciences, healthcare, and microelectronics and semiconductors. Based on type, the market is segregated into actuators, and valves. Based on Actuators, it is further bifurcated by actuator types and it includes electrical actuators, mechanical actuators, hydraulic actuators, and pneumatic actuators. Based on Valves the market is further bifurcated in to by valves material and it includes cast iron, alloys, plastic and steel.
Region-wise, the Actuators and Valves Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe and North America remain significant participants in the actuators and valves market).
The key players that operate in the market include: Crane Holdings, Co., Emerson Electric Co. (PENTAIR VALVES), Flowserve Corporation, General Electric Company, IMI plc, KITZ CORPORATION, METSO OYJ (NELES OYJ), PARKER-HANNIFIN CORPORATION, Rotork plc, and SLB.