Market Insight-Global Valve Actuators Market Overview 2022
The Global Valve Actuators Market Size was estimated at USD 15870 million in 2021 and is projected to reach USD 21440 million by 2028, exhibiting a CAGR of 4.40% during the forecast period– Bossonresearch.com
A valve actuator is the mechanism for opening and closing a valve. Manually operated valves require someone in attendance to adjust them using a direct or geared mechanism attached to the valve stem. Power-operated actuators, using gas pressure, hydraulic pressure or electricity, allow a valve to be adjusted remotely, or allow rapid operation of large valves. Power-operated valve actuators may be the final elements of an automatic control loop which automatically regulates some flow, level or other process. Actuators may be only to open and close the valve, or may allow intermediate positioning; some valve actuators include switches or other ways to remotely indicate the position of the valve.
Used for the automation of industrial valves, actuators can be found in all kinds of process plants. They are used in waste water treatment plants, power plants, refineries, mining and nuclear processes, food factories, and pipelines. Valve actuators play a major part in automating process control. The valves to be automated vary both in design and dimension. The diameters of the valves range from one-tenth of an inch to several feet.
According to Bosson Research, the Global Valve Actuators Market Size was estimated at USD 15870 million in 2021 and is projected to reach USD 21440 million by 2028, exhibiting a CAGR of 4.40% during the forecast period. The global actuators & valves industry is expected to witness growth during the forecast period, owing to growing water and wastewater treatment industry. In addition, increase in safety measurements in industries also propels the market growth. Moreover, the use of technological advanced processing methods is estimated to revolutionize the actuators & valves market outlook. Hence, owing to the aforementioned factors, the market is expected to witness a steep growth in the near future. Changing environmental regulations and number of product launches also propel the actuators & valves market growth. However, lack of product differentiation hinder the market growth. Furthermore, increased adoption of robotics provides lucrative opportunities for the market.
Figure Global Valve Actuators Market Size
Source: Bossonresearch.com, 2022
Digitalization Trend Generates Demand for Valve Actuators
The global valve actuator market experienced a dip in 2020, as the pandemic reduced demand from many key vertical markets and caused project delays. The pandemic boosted investment in digital technologies for remote management and monitoring tools in both IT services and the industrial space. With the benefits of Industrial IoT becoming evident, suppliers are looking to integrate connected valves and field devices in their portfolios. The focus now is on instrument efficiency, accuracy, safety, and stability. ARC is also witnessing a shift from conventional mechanical and electro-mechanical actuators to more sophisticated electronic actuating solutions.
Automate More Valve Types
Valve installation, commissioning, and maintenance practices have changed dramatically, thanks to intelligent actuators, digital positioners, digital field networks, and predictive maintenance practices. While there is still room for improvement, these changes are helping to reduce costs and unplanned downtime for owner-operators that have successfully implemented these newer technologies and corresponding work processes. ARC feels the time is right for owner-operators to expand valve automation by automating more manually operated valves application. Automating valve actuation mechanisms can provide significant economic benefits, but success depends on a willingness to embrace new technologies and resilience toward changing flow control practices that have been in place for decades.
A key benefit is that a single supplier assumes responsibility to ensure these components are integrated safely and securely and supported by the appropriate services. This will become increasingly important in the future as manually operated isolation valves become more tightly integrated into plant control and safety systems.
Competitive Landscape
The market for valves and actuators is fragmented due to the presence of many players in the market. Also, these companies are extensively investing in offering a wide range of technolgies to the customers for application across the industries.
Key players in the Valve Actuators Market include:
Emerson
Rotork
Belimo
Siemens
AUMA
Honeywell
Johnson Controls
Schneider
SAMSON
Azbil Corporation
Danfoss
Neles
Neptronic
KMC Controls
Dwyer Instruments
Kinetrol
Maxonic Automation Control
Nippon Gear
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