SAN FRANCISCO, April 16, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
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.
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.
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)
Others (Diaphragm, Check)
Industrial Valves and Actuators System Outlook (Revenue, USD Million, 2015 - 2025)
Industrial Valves and Actuators End-use Outlook (Revenue, USD Million, 2015 - 2025
Oil & Gas
Energy & Power
Water & Wastewater
Pulp & Paper
Food & Beverage
Others (manufacturing, electronics, marine, and textiles)
Industrial Valves and Actuators Regional Outlook (Revenue, USD Million, 2015 - 2025)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.