PUBLISHER: 360iResearch | PRODUCT CODE: 1471162
PUBLISHER: 360iResearch | PRODUCT CODE: 1471162
[190 Pages Report] The Marine Actuators & Valves Market size was estimated at USD 3.11 billion in 2023 and expected to reach USD 3.28 billion in 2024, at a CAGR 6.01% to reach USD 4.68 billion by 2030.
The marine actuators and valves market encompasses a wide range of mechanical devices and components used primarily for controlling, regulating, and directing the flow of fluids in maritime industries. These essential components are designed to operate under harsh environmental conditions, such as saltwater corrosion, high pressure, and extreme temperatures that are encountered in marine applications. The increased use of marine passenger vessels in the travel & tourism sector is boosting the market demand for marine actuators and valves. The increased utilization of marine freight transportation for industrial and consumer goods also boosted the market growth. Additionally, the rising military & defense expenditures and investments worldwide have enhanced the utilization of marine vessels, increasing the adoption of marine actuators and valves. However, the high cost of raw materials & production issues may limit the utilization of marine actuators & valves. Moreover, operational constraints and faulty actuators & valves are also significant challenges in the market. Furthermore, technological advancements & increasing utilization of electric marine actuators are expected to create lucrative opportunities for market growth in upcoming years.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 3.11 billion |
Estimated Year [2024] | USD 3.28 billion |
Forecast Year [2030] | USD 4.68 billion |
CAGR (%) | 6.01% |
Product: Major Types of Products
Marine actuators are used to open and close valves for automation or automatic control purposes in maritime applications to enhance operational efficiency and save costs with minimal maintenance. The marine valves are primarily used for pressure control, managing flow direction and flow rate of the liquid in the ship pipeline, and are available in various materials to withstand tough operating conditions and corrosive marine environments.
Mechanism: Significance of marine actuators and valves based on ship mechanisms
Pneumatic actuators and valves utilize compressed air to generate motion or control the flow of fluids due to their exceptional responsiveness, precise control, and inherent safety features, as they do not produce sparks or heat. Hydraulic actuators and valves use pressurized liquid (typically oil) to power motion or manipulate fluid flow, providing significant advantages while occupying minimal space. Electric actuators and valves operate by converting electrical energy into mechanical movement or controlling fluid passage via electromechanical means. The hybrid systems offer enhanced efficiency, precision, and adaptability while minimizing the drawbacks associated with individual actuation methods. Mechanical actuators and valves rely on mechanical components like gears, levers, or springs for motion generation or control of fluid flow. Manual valve systems necessitate human intervention for operation, serving as cost-effective solutions for less complex applications where automation is feasible.
Application: Diverse Scope of Applications
Actuators and valves are essential components in marine vessels' fuel and propulsion systems as they regulate fuel flow to engines, control exhaust emissions, and manage auxiliary functions such as lubrication and cooling. In ballast & bilge systems and water systems on ships, actuators and valves contribute significantly to maintaining vessel stability by regulating water flow in ballast tanks or pumping out excess water from compartments. Actuators and valves are integral in handling liquid cargo onboard tankers or for the efficient operation of loading/unloading pumps depending on accurate valve sequencing controlled by actuators without contamination risks or product loss occurrences.
Ship Type: Varying Scope Based on Ship Types
Commercial ships utilize marine actuators and valves to regulate the fluid transportation in cargo & passenger ships. The defense refueling ships also necessitate marine actuators and valves to control the flow of fuels and other liquids in marine vessels.
Regional Insights
The Americas has a highly developed infrastructure due to the presence of significant manufacturers of marine actuators and valves. The United States has a robust shipbuilding industry and strong naval presence worldwide, surging the demand for marine actuators and valves. In the EMEA region, the implementation of stringent regulations governing emissions from ships has further accelerated the need for advanced marine actuators and valves that meet environmental standards. The Middle East region has evolved as a global hub for oil & gas production further necessitates technologically advanced products that maximize operational efficiency while adhering to strict safety requirements. In the APAC region, global players are expanding their presence in the APAC region by collaborating with the regional manufacturers. China, Japan, and India have emerged as key markets for marine actuators and valves due to their expanding shipbuilding industries and increasing maritime trade.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Marine Actuators & Valves Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Marine Actuators & Valves Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Marine Actuators & Valves Market, highlighting leading vendors and their innovative profiles. These include AUMA Riester GmbH & Co. KG, AVK Group A/S, BloomFoss, Bray International, Burkert GmbH & Co. KG, Curtiss-Wright Corporation, Diakont, Dynamic Corporation Limited, Emerson Electric Co., Flotech, Hawa Valves & Tubes Pvt. Ltd., Heinzmann GmbH & Co. KG, Honeywell International Inc., IMI PLC, KITZ Corporation, LINAK A/S, Masterpiece Flow Controls, Moog Inc., Novel Valves India Pvt. Ltd., Progressive Automations Inc., Regal Rexnord Corporation, Rockwell Automation, Inc., Rotork PLC, Schlumberger Limited, Shenzhen MORC Controls Ltd, Tianjin Tanghaidongyang Valve Co., Ltd., Trident Actuator, Ultra Motion LLC, Watts Water Technologies, Inc., and YIH SEAN Enterprise Co., Ltd..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Marine Actuators & Valves Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Marine Actuators & Valves Market?
3. What are the technology trends and regulatory frameworks in the Marine Actuators & Valves Market?
4. What is the market share of the leading vendors in the Marine Actuators & Valves Market?
5. Which modes and strategic moves are suitable for entering the Marine Actuators & Valves Market?