The ‘Global Aerosol Market’ was valued $XX billion in 2020 and is expected to reach $XX billion at 2031, at the CAGR of XX% between 2021 and 2031.
The rapid growth of manufacturing and construction industry across the globe supported the growth of actuators and valve market. The combination of an actuator and a valve forms a mechanism which controls the flow of liquid or gas within a pipeline connected system. A valve and an actuator are operated either by air pressure or by electricity or by hydraulic fluid. When an actuator is fixed with a valve, to control the flow and direction of a fluid, the mechanism becomes more flexible to perform the function compare to manual effort.
The global actuator and valve market is predominantly getting driven by the factors such as rising demand for regulator valves across various industries such as chemicals, metal and minerals, oil & gas, and water & wastewater. Rise in population implies rise in fresh water requirement and improvement in sewage discharge system which is a key factor to gear the market. The developed and underdeveloped countries have started setting up an improved drinking water and drainage system which further supported the growth of the market during the forecast period (2021-2031). The trend of welcoming automation in different industries to minimize human capital requirement and bring more competencies in work, has created an opportunity for the global actuator and valve market during the forecast period. Oil refineries and oil field suppliers are expected to be the key buyers of the market as they need automatic opening and closing of valves during emergency shut down situations to stop the of the fluid and prevent wastage. Energy and power industry is also having a huge demand for actuators and valves to minimize the wastage.
The study provides a detailed view of the global actuator and valves market based on type, application and geography. Rising demand for regulator valves across various industries such as chemicals, metal and minerals, oil & gas, and water & wastewater are the key factors fueling the growth of the market. The objective to satisfy the end users of the actuator and valve industry and provide them latest models of actuators and valves are the key function of the global actuator and valves market. Increased profitability and improved customer experience and better expertise are the major opportunity for the growth of global actuator and valve market during the forecasted years 2021-2031.
Major types of actuator and valve market include actuator and valve. Actuator type is further segmented as electrical, mechanical, pneumatic and hydraulic. Whereas, the valve segment has been further sub segmented as quarter-turn valve, multi-turn valve and control valve. Based on application the market has been analyzed as agriculture, water and waste water, minerals and metals, energy and power, oil and gas and others. The global actuator and valve market has been segmented geographically which includes North America, Europe, Asia-Pacific, Middle-East and Africa and Latin America.
Asia-Pacific is expected to be the fastest growing market for actuators & valves due to a rise in production of oil and natural gas. Furthermore, North America has a huge potential for the manufacturers as they are spending massively on developing the infrastructure and compete with Asia-Pacific countries such as Malaysia, India and China.
Key players who operates in the global actuator and valve market include Emerson Electric Co., Honeywell International INC., Flowserve Corporation Business, Rotork, Pentair PLC, General Electric, Siemens AG, Schlumberger Limited, Watts Water Technologies and Neway Valves.
The global actuator and valve market has been segmented into:
Global Actuator and Valves Market, By Type
Global Actuator and Valves Market, By Application
Global Actuator and Valve Market: By Geography