Industrial Valve Actuators Market Plying for Significant Growth During 2018 - 2028

In the 1920s, pneumatic actuators were utilized for valve control across various end-use industries. However, development of advanced process plants along with high pressure requirements and new innovations, such as gas-over-oil actuators, were developed.

A valve needs a means by which it can be operated (e.g. actuated or cycled). Various options are available to achieve this, which includes gears, levers, actuators and hand wheels. Valve actuators serve various functions across end-use industries, including process control, safety, automatic switching, etc.

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Though the demand for energy is expected to stay high in the long term, the demand will be quite unstable in the short term. The oil and gas industry is facing various challenges in the overall value chain, i.e. from production to logistics and distribution. In the recent past, there has been a significant drop in oil barrel prices, manufacturers in the industry need optimization and improvement of processes to increase efficiency while adhering to the strict safety standards attached to the danger of the products handled. Small and smart technological improvements and working methods will lead to good results.

Significant Investments in the Oil & Gas Projects, Assisting the Demand for Valve Actuators

Growing investments across the value chain of the oil & gas industry is one of the prominent factors likely to support the demand for valve actuators over the near future. For instance, in March 2017, Exxon Mobil Corporation announced that it will invest around US$ 20.0 Bn through 2022 to expand its oil refining plants on the U.S. Gulf Coast.

Moreover, rising production and exploration of new oil & gas fields and augmented investments in refineries and pipelines in the Middle East & Africa and Asia Pacific and Americas region is anticipated to contribute significantly towards the growth of global industrial valve actuators market.

Advancements in the Operations and Solutions

Emergence of technological advancements have enabled the development of industrial valve actuators with remote control features. There has been continuous rise in the adoption of industrial valve actuators across various industries owing to the developments in communication systems, IIoT and sensors. Within an oil & gas industry, valve actuators with remote controlling operations are mostly utilized for deep-well and subsea applications. Further, cost of ownership in end-use industries can be reduced with the help of actuators that are available with in-built sensors.

Global Industrial Valve Actuators Market: Segmentation

The global Industrial Valve Actuators market can be segmented on the basis of product type and end-use industry.

On the basis of product type, the global industrial valve actuators market can be segmented as follows:

Electric Actuators
Pneumatic Actuators
Mechanical Actuators
Hydraulic Actuators
On the basis of end-use industry, the global industrial valve actuators market can be segmented as follows:

Water and Wastewater
Oil and Gas
Power Generation
Food & Beverages
Chemical
Marine
Others
Key Developments

In March 2018, IMI Precision Engineering announced that the company will showcase their latest range of IMI Norgen electric actuators
In June 2015, Rotork launched the 3rd generation IQT intelligent part-turn electric valve actuators
In May 2015, Rotork launched a new range of compact hydraulic and pneumatic valve actuators, primarily designed to perform in constrained space applications
Global Industrial Valve Actuators Market: Regional outlook

The global Industrial Valve Actuators market is segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. Middle East and Africa dominates the market and is expected to follow the same trend in near future owing to surging demand from end-use industries, such as oil and gas. MEA, followed by China, is anticipated to grow at a significant rate in the market in near future. North America and Europe together are expected to account for a small share in the market over the next decade. Japan in the global industrial valve market is anticipated to grow at a comparatively slow rate.

industrial valve actuators market
Global Industrial Valve Actuators Market: Key Players

Some of the key players identified across the value chain of the global Industrial Valve Actuators market include General Electric, Schlumberger Limited, Emerson Electric Co., Assured Automation, Honeywell International Inc., Rotork, Flowserve Corporation, Johnson Controls International plc, Schneider Electric, The Danfoss Group, Curtiss-Wright and others.

The global industrial valve actuators market is found to be one of the most fragmented markets as a large number of global as well as regional players are involved in the manufacturing of actuators.

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Opportunities for Market Participants

Production of shale gas in the United States will continue to expand in near future, which, in turn, will lead to increased demand for industrial valve actuators. The aforementioned reasons are anticipated to provide growth opportunities for the manufacturers in near future.

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This release was published on openPR.