For serving a wide range of applications across multiples industries, actuators and valves have evolved as an essential turnkey component of industrial automation. Chemical, petrochemical, biotech, pharmaceutical, and several other industrial verticals exhibit high utility of actuators and valves. Specific process control requirements have prompted manufacturers of actuators and valves in designing their offerings across a variety of sizes, dimensions and functions. Companies such as Honeywell International Inc., Flowserve Corporations, AVK Holdings A/S., Emerson Electric Co., Schlumberger Limited, KITZ Corporation, Tyco International Ltd., Burkert Fluid Control Systems, Rotork Plc., and Watts Water Technologies, Inc. are observed as the key manufacturers of actuators and valves in the world. In few years down the line, several manufacturers of actuators and valves are expected to increase the integration of advanced sensors and smart valve & actuation technologies in their products.
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Transparency Market Research’s latest forecast study has profiled these companies as key stakeholders in the global actuators and valves market. The study has assessed that these companies will instrument the production of actuators and valves across the globe. Key findings from the report estimate that the global actuators and valves market will expand at a 5.3% CAGR during the period, 2017-2026. The report further projects that by the end of 2026, more than US$ 511 Bn worth of actuators and valves will be sold worldwide.
Demand for Quarter Turn Valves and Pneumatic Actuators to Remain High through 2026
Efficiency of pneumatic actuators in fluid power applications will continue to drive their demand in the global actuators and valves market. Industrial verticals such as chemicals, wastewater treatment, and water supply are high adopters of pneumatic actuators. Key advantage of pneumatic actuators in sustaining overload pressure conditions continues to propel their adoption over other types of actuators. The report has estimated that in 2017, more than US$ 53 Bn worth of pneumatic actuators were sold in the global actuators and valves market. The study also observes quarter turn valves as a top-selling product in the global actuators and valves market. Over the forecast period, quarter turn valves are poised to register highest value CAGR of 6.9%. The bi-directional operability of quarter turn valves is its key advantage in closing or opening flow paths, and has driven its adoption across multiple industries.
Oil & Gas Applications to Register Highest Revenue Growth during 2017-2026
Through 2026, actuators and valves will be predominantly used in oil & gas industries. Refineries, oil field suppliers, downstream pipelines and several other components of the oil & gas industry are observed suitable for application of actuators and valves. By the end of the forecast period, over US$ 100 Bn worth of actuators and valves will be sold in oil & gas applications across the globe. The report further reveals that water and wastewater applications of actuators and valves will exhibit fastest revenue growth, reflecting a value CAGR of 6.8% over the forecast period.
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The report has also revealed that the Asia-Pacific excluding Japan (APEJ) region will represent the largest market for actuators and valves through 2026. High presence of crude oil producers in Indonesia, Malaysia, India and Thailand has created a strong base for utility for actuators and valves. China, the largest oil producer in the APEJ region, has also witnessed a high presence of actuators and valves manufacturers in the recent past. Robust growth in the automotive industry in the APEJ region is also expected to fuel the sales of actuators and valves. The report estimates that by the end of 2026, the APEJ actuators and valves market will touch a US$ 215 Bn valuation.