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Comprehensive Insights in the Marine Actuators and Valves Market Research Report - Current and Future Industry Scenarios || Honeywell International Inc., Rotork plc , Emerson Electric Co.
Marine Actuators And Valves Market
The Business Research Company's Marine Actuators And Valves Global Market Report 2023 identifies the increased global seaborne trade is expected to propel the growth of the marine actuators and valves market going forward. Seaborne trade refers to transporting goods by sea between different countries or regions and measures the dispatched goods and loaded goods. Marine actuators and valves play a crucial role in ships' safe and efficient operation by regulating the pressure flow of fluids in different kinds of systems on ships and converting energy into control motion to stop or hold any object on the ship. For instance, in October 2022, according to United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based trade and development organization, the global seaborne trade increased by 3.2% in 2021, with shipments reaching a value of 11.0 billion tons, respectively.
The global marine actuators and valves market size is expected to grow from $3.26 billion in 2022 to $3.48 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global marine actuators and valves market size is expected to reach $4.33 billion in 2027 at a CAGR of 5.6%.
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Major competitors in the marine actuators and valves market are Honeywell International Inc., Rotork plc , Emerson Electric Co., Curtiss-Wright Corporation , Flowserve Corporation, KITZ Corporation, Watts Water Technologies Inc., Bürkert Fluid Control Systems, Schlumberger Limited.
A key trend in the marine actuators and valves market includes emerging technologies. Companies operating in the marine actuators and valves market are adopting new technologies to sustain their position in the market. For instance, in June 2022, W&O Supply, a US-based maritime fittings provider, launched the digital marine valve management service that is integrated with radio frequency identification technology (RFID).
Read More On The Global Marine Actuators And Valves Market Report Here: https://www.thebusinessresearchcompany.com/report/marine-actuators-and-valves-global-market-report
The marine actuators and valves market is segmented -
1) By Product: Valves, Actuators
2) By Material: Stainless Steel, Aluminum, Alloy-Based, Other Materials
3) By Mechanism: Pneumatic, Hydraulic, Electric, Hybrid, Mechanical, Manual
4) By Application: Defense, Commercial
5) By End User: Original Equipment Manufacturer (OEM), Aftermarket
6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the marine actuators and valves market.
The Business Research Company's "Global Marine Actuators And Valves Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Marine Actuators And Valves Market Include:
1. Executive Summary
2. Marine Actuators And Valves Market Characteristic
3. Marine Actuators And Valves Market Trends And Strategies
4. Marine Actuators And Valves Market - Macro Economic Scenario
5. Marine Actuators And Valves Market Size And Growth
……………
27. Marine Actuators And Valves Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Marine Actuators And Valves Market
29. Marine Actuators And Valves Market Future Outlook And Potential Analysis
30. Appendix
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