Valve Actuators Market Size, Share, Growth and Industry Analysis by Type (Manual, Pneumatic, Hydraulic, Electric, and Spring), By Application (Constructions, Oil & Gas Industry, Energy Power, Chemical, and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Valve Actuators Market Report Overview

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The valve actuators market size is anticipated to be worth USD 16.530 billion in 2022 the market is projected to touch USD 23.249 billion by 2030 with a growing CAGR rate of 4.3 % during the forecast period.

Valve actuator is a type of mechanical device that operates a valve on a power source. The power sources could be pneumatic which is compressed air. It could be electric, or even flow of oil which is hydraulic. There are primarily four different types of actuators. They are pneumatic actuators, hydraulic actuators, electro-hydraulic actuators, and electric actuators. These devices function to convert a control signal into mechanical motion.

High usage of valve actuators in different medical devices is increasing the demand for this equipment. The number of people getting admitted to hospitals post pandemic has increased considerably.  This is identified as the latest trend in the market.

Valve actuators have a lot of applications in commercial sectors. They are also increasingly being used in processing plants. All of these factors are considered as the factors driving the valve actuators market share.

 The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 Impact: Decline in Agriculture Market Decreased Market Share

The pandemic of COVID-19 created a lot of disruptions in all the markets. Valve actuators market also faced a similar problem due to the decline in the demand for the product. Valve actuators are used in many industries like agriculture, healthcare, automotive, aerospace, defense, and food beverages market.

During the pandemic there was downfall of all of these industries due to factors like lockdowns, social distancing norms, and unavailability of raw materials. This indirectly affected the market.

LATEST TRENDS

"Increasing Use of Valve Actuators in Healthcare to Increase Market Growth"

Valve actuators are considered to be highly useful in different segments as mentioned above. It is also used in the healthcare industries. Healthcare sector is manufacturing and designing innovative machines that require actuators. Actuators are used in wheelchairs, dental chairs, treatment chairs, beds, and, lifts for patients.

Recently the healthcare facilities are expanding due to the prevalence of many diseases after the pandemic. Voice coil actuators are used in ventilators to support patients who cannot breathe on their own. The growing use of actuators in the healthcare industry is amplifying the valve actuators market growth.

Valve Actuators Market Segmentation

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• By Type:

The market can be divided into the following segments depending on their respective types:

Manual, pneumatic,   hydraulic, electric, and, spring. The manual segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Constructions, oil & gas industry, energy power, chemical, and, others. The construction segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Rising Commercial Applications of Valve Actuators to Amplify Market Growth"

Valve actuators have high demand in commercial application and this can act as a factor driving the market growth. Along with being used in the healthcare industry it is also used in many high-income industries like aerospace, marine, construction, and oil and gas.

Apart from such industries it is also used in material handling markets, window automation, robotics, solar panels, and agricultural machineries. They are also used in vehicles. Linear actuators are used in automobiles as they are very helpful in moving the load back and forth. These actuators are very reliable, secure, and also provide the required mobility. All of these are the important advantages of using valve actuators.

"High Usage of these Equipments in Process Plants to Impede Market Growth"

These equipments are used in automating industrial valves. Apart from this they are found in a lot of process plants. Valve actuators are used in power plants, refineries, food factories, pipeline, waste water treatment plants, and mining and nuclear processors. The vast application of valve actuators has improved the market performance.

These actuators are not very heavy, they are accompanied with an inherent failure mode action mechanism, can adapt themselves to varying conditions, and require low-pressure supply.

RESTRAINING FACTOR

"Leakage Issues in Certain Types of Valve Actuators to Bring Down Market Share"

One of the biggest disadvantages of using valve actuators is the leakage that can happen in pneumatic and hydraulic actuators. This can be considered as a factor restraining the market growth. Pneumatic actuators work on the basis of transformation of energy that is generated from compressed air into mechanical movement. Sometimes there are chances of leakage from such kind of actuators.

Another difficulty of using valve actuators is that they require a lot of maintenance. High cost is involved in this process. Negligence of such devices can cause unnecessary noises. Hydraulic actuators have the risk of catching fire. The maintenance issue coupled with leakage problems can hamper the valve actuators market share.

Valve Actuators Market Regional Insights

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"Asia Pacific to Dominate Market Share "

Asia Pacific is predicted to dominate the market share in upcoming years due to several reasons. Countries like China, and Japan are rapidly upgrading their capabilities in areas such as healthcare, aerospace and majorly defense. Defense sector is growing rapidly in most of the countries.

Valve actuators are used in the making of many defense weapons. Also, many newly introduced machineries and devices require the installation of actuators. Japan is a growing power in the field of robotics. All of these industries require valve actuators are this demand has led to the valve actuators market development in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Emerson Electric (U.S.)
• Rotork (U.K.)
• Weir (U.K.)
• FMC (U.S.)
• Pentair (U.S.)
• Cowan (U.S.)
• Parker (U.S.)
• ATI (U.S.)
• REXA (U.S.)
• Aberdeen Dynamics (U.S.)
• Paladon Systems (U.K.)
• Helac   Corporation (U.S.)
• BETTIS (U.S.)
• Centork (Spain)
• DANTORQUE (Germany)
• Honeywell (U.S.)
• Apollo  Valves (India)
• Rotork (U.K.)
• Johnson Controls (Ireland)
• Asahi (Japan)
• Schneider (France)
• Danfoss (Denamrk)
• Samson (South Korea)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. On reading the report the user will be able to understand and interpret all the aspects of the market.