14-May-2019: The global industrial valves and actuators market
size is expected to reach USD 145.87 billion by 2025 at a 4.14% CAGR over the
forecast period, according to a study conducted by Grand View Research, Inc.
Growing demand in the industrial sector, technological advancements propelling
use of smart valves and actuators, and stringent government regulations have
bolstered market growth. Adoption of industrial valves and actuators has been
on a continuous rise owing to the benefits they offer in controlling temperature
and pressure throughout downstream, midstream, and upstream activities. Thus,
growing oil and gas exploration activities have triggered demand for industrial
valves and actuators.
Increasing global water stress,
coupled with industrial wastewater disposal in aquatic ecosystems, has led to
urgent need for water reclamation. In order to curb these rising issues, demand
for effective treatment equipment systems have increased, thereby opening up
immense opportunities in water and wastewater industries. Furthermore, 3D
printing, also known as additive manufacturing (AM), has the potential to
transform the production of industrial valves and actuators. A myriad of
conventional designs and products, including check valves, gate valves, and
servo valves, can now be developed using 3D printing technology. The technology
is helping valve manufacturers in changing the approach from “Just-in-time
(JIT) delivery” to “JIT manufacturing”.
Asia Pacific is expected to
dominate the market over the forecast period owing to rising subsea
explorations and increasing investments in industries such as chemical, water
and wastewater, and energy and power. Moreover, expanding production of oil
sands and shale gas in North America and growing exploration in regions such as
Africa and Asia have spurred market demand. Replacement of old and inefficient
valves with more efficient ones for gas transportation in midstream
infrastructure is also anticipated to boost demand over the forecast period.
In
depth research report on Industrial Valves and Actuators Market
Further
key findings from the study suggest:
· The
linear actuator segment is expected to dominate the industrial actuator market
by product owing to its preferred use for gate, globe, check, safety valves,
among others
· The
market for ball valves is expected to dominate the industrial valves product
segment owing to it wide demand across oil & gas, water & wastewater,
chemical, and energy & power industries
· Asia
Pacific is expected to be the largest and fastest-growing region over the
forecast period due to increasing demand from industries such as oil & gas,
water & wastewater, and energy & power in emerging economies like China
and India
· Prominent
industry participants include Emerson Electric Co., Flowserve Corporation, IMI
plc, Schlumberger Limited, and AVK Holding A/S.
Grand View Research has
segmented the global industrial valves and actuators market based on product
type, system, end use, and region:
Industrial
Valves and Actuators Product Outlook (Revenue, USD Million, 2015 - 2025)
· Industrial
Valves
· Gate
Valve
· Globe
Valve
· Ball
Valve
· Butterfly
Valve
· Safety
Valve
· Plug
Valve
· Others
(Diaphragm, Check)
· Industrial
Actuators
· Linear
Actuators
· Rotary
Actuators
Industrial
Valves and Actuators System Outlook (Revenue, USD Million, 2015 - 2025)
· Industrial
Actuators
· Mechanical
Actuators
· Electric
Actuators
· Pneumatic
Actuators
· Hydraulic
Actuators
Industrial
Valves and Actuators End-use Outlook (Revenue, USD Million, 2015 - 2025)
· Oil
& Gas
· Chemical
· Energy
& Power
· Water
& Wastewater
· Pulp
& Paper
· Food
& Beverage
· Others
(manufacturing, electronics, marine, and textiles)
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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