The Global Marine Actuators and Valves Market was valued at US$ 3,380 Million in 2021 and is expected to surpass US$ 5,710 Million by 2030, registering a CAGR of 6.2% during the forecast period (2022-2030), according to the Global Marine Actuators and Valves Market”, By Type (Actuators and Valves) by Actuator (Pneumatic Actuators, Hydraulic Actuators, Manual Actuators, Electric Actuators, Mechanical Actuators and Hybrid Actuators), by Valves (Linear Motion Valves, Rotary Motion Valve, Specialty Valve and Self-Actuated Valve) by Vessel Type (Passenger Ships And Ferries, Dry Cargo Vessels, Tankers, Dry Bulk Carriers, Special Purpose Vessels, Service Vessels, Fishing Vessels, Off-Shore Vessels, Yachts and Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
Marine valves are mechanical component that is used to control, regulate, direct, and guide the flow of various types of liquids such as steam, gases, liquids, and any flowing agents such as grain and mill. Some of the commonly used valves are gate, globe, angle, butterfly, ball plug valves, etc. These valves are made from bronze, iron, steel, or PVC and have the capabilities to high-end pressure and temperature. Moreover, the actuator is attached to valves for monitoring of pressure and flows, where two values are required to match. There are different types of actuators including pneumatic, hydraulic, electrical, mechanical, hybrid, manual actuator, etc.
The global marine actuators and valves market is estimated to account for US$ 3,380 Mn in terms of value in 2021 and is expected to grow at a CAGR of 6.40% during the forecasted period 2022-30.
Key Developments
- On 6th June 2022, Emerson, a global technology and software company, introduced its new AVENTICSTM Series Servo Profile Advanced (SPRA) Electric Actuators, a line of accurate and highly repeatable rod-style cylinders that offer exceptional strength and perfection for applications that need the highest level of quality, as well as cost-effective roller screws and lead screw option for precision, speed, and heavy loads.
Global Marine Actuators And Valves Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has adversely affected the Global Marine Actuators and Valves Market. Marine Actuators and Valves are widely used for flow control and on/off operations in applications such as fuel and propulsion systems as they have the capability of starting and stopping mechanisms of marine transportation. Moreover, due to the pandemic, marine actuators & valve manufacturers were shut down, and also showed disruption in the supply chain of raw materials the production of actuators and valves was stopped, and manufacturers faced financial crises due to which many upcoming projects were postponed which directly impacted the sales of the marine actuators and valves. Hence, the global marine actuators and valvesmarket witnessed slow growth during the pandemic.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/marine-actuators-and-valves-market-3724
Browse 150 market data tables* and 90 figures* on “Global Marine Actuators and Valves Market- Global Forecast to 2030”
Key Trends and Analysis of the Global Marine Actuators and Valves Market:
- In the near future, the U.S. Navy is expected to launch its Fleet Modernization Program. Since the U.S. Navy is the largest naval force in the world, the demand for actuators and valves is expected to increase significantly during the forecast period. Moreover, the Canadian Government is focused on developing its own marine industry, which is expected to boost regional market growth.
- Stable economic growth and low-cost transportation have led to maritime trade in the U.K., Germany, and France. Currently, the government of Germany is focused on the transportation of goods via seagoing vessels, in order to boost Germany's marine actuator and valve market. Moreover, increasing the procurement of auxiliary tankers and patrol boats for France Navy is expected to boost the growth of regional market growth in the near future. The government of Italy is focused on the renewal of the Italian Naval Fleet, which is expected to boost the demand for actuators and valves during the forecast period.
- Major players operating in the global marine actuators and valves market are AVK Holding A/S, KITZ Corporation, Watts Water Technologies, Inc., Bürkert Fluid Control Systems, Tyco International Ltd., Emerson Electric Co, Schlumberger Limited, Shearwater GeoServices Holding AS, Flowserve Corporation, Rotork Plc, and Honeywell International Inc.
