PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311108
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311108
Global Industrial Valves and Actuators Market is valued approximately at USD 123.63 billion in 2022 and is anticipated to grow with a growth rate of more than 4.14% over the forecast period 2023-2030. Industrial valves and actuators are devices that control the flow of fluids in industrial applications. Valves are used to open, close, or partially obstruct the flow of fluids, while actuators are used to move the valves. There are many different types of industrial valves and actuators, each designed for a specific application. The surging demand from various end-use industries, growing focus on safety and reliability, stringent government regulations, coupled with high demand from various industrial applications are the key factors that are impelling the market growth across the globe.
Additionally, the growing trend of industrial automation is acting as a catalyzing factor for market growth during the estimated period. Automation and process control systems are becoming increasingly prevalent in industrial processes to enhance productivity, efficiency, and safety. Valves and actuators play a crucial role in automating and controlling various industrial operations, leading to increased demand. According to Statista, in 2020, the industrial automation market accounted for USD 175 billion, which is anticipated to reach USD 265 billion by the year 2025. Thus, these aforementioned factors are propelling the growth of the Industrial Valves and Actuators Market at a considerable rate. Moreover, the surge adoption of novel technologies, as well as increasing focus on developing valves and actuators for harsh environments present various lucrative opportunities over the forecast years. However, the fluctuating raw material prices and environmental concerns are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Industrial Valves and Actuators Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing focus on safety and reliability, rising technological advancements, and growing applications in range of industries. Whereas, Asia Pacific is the fastest growing region over the forecast years. The growing industrialization, increasing industrial automation in emerging economies, as well as stringent government regulations are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable