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The industrial valves and actuators market size is forecast to increase by USD 18.67 billion at a CAGR of 4.85% between 2023 and 2028. The market is experiencing significant growth due to increasing investments in modernizing industrial facilities worldwide. This modernization trend is driving the demand for advanced valve technologies, such as DIN Valves, API Valves, and ISO Valves. Actuated Ball Valves, Actuated Gate Valves, Actuated Globe Valves, and Actuated Check Valves are gaining popularity due to their enhanced performance and reliability. The evolution of valve diagnostics is another key trend, enabling predictive maintenance and reducing downtime. Additionally, competitive pricing strategies from low-cost Asian manufacturers are making these advanced valves and actuators more accessible to a wider customer base. Overall, these factors are expected to fuel the growth of the market in the coming years.
The market encompasses a wide range of products, including ball valves, butterfly valves, gate valves, globe valves, check valves, plug valves, diaphragm valves, control valves, solenoid valves, and various types of actuators such as electric actuators, manual actuators, linear actuators, and rotary actuators. Quarter-turn valves and multi-turn valves are also part of this market, along with rising stem valves. The market caters to diverse industries, including oil and gas, power generation, water and wastewater treatment, and chemical processing. Valve types such as ball valves, butterfly valves, and plug valves are commonly used in the oil and gas industry, while gate valves and globe valves are widely adopted in the power generation sector.
Furthermore, smart valves, which incorporate advanced technologies like sensors and automation systems, are gaining popularity in various industries due to their ability to optimize performance and reduce maintenance costs. Additionally, the market offers a range of materials, including cast iron, brass, and plastic, to cater to specific application requirements. Cryogenic valves, designed for use in extremely low-temperature environments, are another niche segment of the market. Actuators, which convert energy into mechanical motion to operate valves, come in various types, including electric, pneumatic, and hydraulic. The market offers a diverse range of actuator types, including solenoid valves, linear actuators, and rotary actuators, to cater to different valve types and application requirements.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The industrial quarter-turn valves segment is estimated to witness significant growth during the forecast period. Quarter-turn valves, which include ball, butterfly, and plug valves, are widely utilized in various industries due to their simplicity of design, ease of operation, and affordability. Manually operated using a handle attached to the stem, these valves can be turned at right angles or 0 degrees to 90 degrees to regulate flow parameters. Quarter-turn valves offer several advantages, such as easy maintenance, compatibility with chemical and corrosive media, compact and lightweight design, low-pressure drop, and high-pressure recovery. However, they have some limitations, including difficulty in cleaning, limitations in throttling due to differential pressure buildup, and flow turbulence affecting unguided disc movement, which can lead to cavitation and choke formation at times. The growth of the quarter-turn valves market can be attributed to the increasing number of greenfield projects in the water and wastewater industry and the ongoing maintenance of installed valves in existing industries.
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The industrial quarter-turn valves segment was valued at USD 29.22 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The transportation and industrial sectors in Asia Pacific (APAC) have driven the demand for control valves, solenoid valves, and various types of actuators, including pneumatic, hydraulic, electric, and manual actuators, in the oil and gas industry. The region's significant investments in new onshore and offshore refining projects, particularly in China, are expected to be fueled by shallow-water gas exploration. Western Australia, accounting for 70% of Australia's and nearly 8% of the world's liquefied petroleum gas (LPG) exports, holds approximately 130 trillion cubic feet of gas resources and 1,700 million barrels of oil and natural liquids. These abundant reserves will continue to attract substantial investments in the region, leading to increased demand for industrial valves and actuators in the oil and gas sector.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing investments in modernizing industrial facilities is the key driver of the market. The market in the Asia Pacific region has experienced significant growth due to increasing foreign investments in manufacturing units. Countries such as Indonesia, South Korea, India, and China are undergoing substantial developments to strengthen their domestic manufacturing sectors. In response to this growth, modernization of plant facilities through automation has become a priority. The adoption of advanced equipment and control technologies streamlines processes, enhances efficiency, and reduces production time. Notable trends in automation are anticipated to shape the global industrial sector's competitive landscape.
Furthermore, manufacturers are dedicating a substantial portion of their annual budgets towards modernization technologies, which promise faster and superior returns in the future. Ball Valves, Butterfly Valves, Gate Valves, Globe Valves, Check Valves, and Plug Valves, among others, play a crucial role in industrial processes, ensuring smooth flow and pressure control. Diaphragm Valves are also gaining popularity due to their versatility and reliability. The market is poised for steady growth, driven by the manufacturing sector's modernization efforts in the Asia Pacific region.
The evolution of valve diagnostics is the upcoming trend in the market. Industrial valves, including Ball Valves, Butterfly Valves, Gate Valves, Globe Valves, Check Valves, Plug Valves, and Diaphragm Valves, play a crucial role in modern industrial automation. These control valves significantly influence the operational efficiency, profitability, and safety of manufacturing facilities.
Furthermore, valve diagnostics have emerged as a vital tool for monitoring valve performance and providing actionable insights to maintenance teams and process control personnel. Real-time tracking and monitoring of industrial valves have become possible through microprocessor-based valve positioning systems and integration with supervisory systems. This advanced technology enables accurate diagnosis of valve issues, identifies planned maintenance requirements, and improves overall process output with minimal operational delays.
The competitive pricing strategy of low-cost Asian manufacturers is a key challenge affecting the market growth. The market encompasses various types of valves, including Ball Valves, Butterfly Valves, Gate Valves, Globe Valves, Check Valves, Plug Valves, and Diaphragm Valves. In Asian countries, the manufacturing sector has witnessed substantial investments due to the availability of affordable land, labor, and raw materials.
Furthermore, end-users in the region are seeking cost-effective machinery and solutions, leading valves and actuator Original Equipment Manufacturers (OEMs) to form partnerships with subcomponent suppliers. Historically, low-cost imports from Asian manufacturers, particularly China, have penetrated the American and European markets. The abundance of resources and labor in Asia enables these companies to produce valves and actuators at lower prices compared to their counterparts in developed regions.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB - The company offers industrial-valves and actuators such as Actuators for Selector and 10A breakers as its key offerings.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of products, including ball valves, butterfly valves, gate valves, globe valves, check valves, plug valves, diaphragm valves, control valves, solenoid valves, pneumatic actuators, hydraulic actuators, electric actuators, manual actuators, quarter-turn valves, multi-turn valves, rising stem valves, linear actuators, rotary actuators, smart valves, cryogenic valves, high pressure valves, low pressure valves, cast iron valves, brass valves, plastic valves, metal seated valves, and soft seated valves. These valves are available in various specifications such as ANSI, DIN, API, ISO, and others. Actuators used in the market include pneumatic, hydraulic, electric, and manual types. Actuated valves include actuated ball valves, actuated gate valves, actuated globe valves, and actuated check valves.
Furthermore, valve positioners, valve controllers, valve accessories, valve retrofitting, valve repair services, valve testing services, valve inspection services, valve certifications, and valve standards and regulations are essential services and offerings in the market. Industrial valves and actuators are integral components in various industries, including oil and gas, power generation, water and wastewater treatment, and chemical processing. The market is driven by factors such as increasing industrialization, growing demand for automation, and stringent regulations for safety and environmental concerns. The market is expected to grow steadily due to these factors and the continuous need for efficient and reliable valve and actuator solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
194 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.85% |
Market growth 2024-2028 |
USD 18.67 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.54 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
China, US, UK, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., ACTUATECH Spa, AUMA Riester GmbH and Co. KG, Automation Technology Inc., AVK Holding AS, BOMAFA Armaturen GmbH, Danfoss AS, EBRO ARMATUREN Gebr. Broer GmbH, Emerson Electric Co., Flowserve Corp., General Electric Co., Georg Fischer Ltd., Honeywell International Inc., MRC Global Inc., Rotork Plc, SAMSON AG, Schlumberger Ltd., The Weir Group Plc, Velan Inc., and WAMGROUP Spa |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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