The global actuators and valves market stood at US$74.37 bn in 2015 and is expected to reach US$124.30 bn by 2024, expanding at a CAGR of 6.0% therein.
Albany, NY -- (SBWIRE) -- 01/15/2018 -- The growth in urbanization is creating a significant demand for public and private sector infrastructure development such as power stations, water supply, electricity grids, and water treatment plants, which is driving the global actuators and valves market. With the rising need for customized, non-standard products across multiple industries, valve manufacturers are anticipated to save both development time and fabrication costs by leveraging simulation software.
In terms of type, valves leads the actuators and valves market with the segment holding close to 75% of the market in 2016. On the other hand, the segment of actuators is expected to display the leading CAGR of 5.89% between 2016 and 2024. Based on end-use industry, in 2016, water and wastewater treatment led the overall market.
In terms of geography, Asia Pacific held close to 40% of the market in 2016, followed by North America. Expanding at a CAGR of 6.9% for the forecast period between 2016 and 2024, Asia Pacific is expected to emerge as one of the most attractive regional markets by 2024.
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Global Actuators and Valves Market: Synopsis
The global actuators and valves market is prognosticated to attract growth on the back of the need to treat wastewater. Actuators and valves help in controlling the flow of wastewater during its treatment. The dirt and humidity of wastewater could have a heavy impact on the functioning of actuators and valves, which calls for a regular replacement of the equipment. In the construction industry, butterfly valves could find important applications for heating, ventilation, and cooling (HVAC) and temperature control.
The report foresees the global actuators and valves market to be appropriately segregated as per industry and type. By type, there are separate segments listed under both actuators and valves.
The authors of the report have included an in-depth analysis of the global actuators and valves market coupled with a focus on its competitive matrix. Each region of the market has been carefully studied to unveil hidden opportunities and growth prospects likely to show face in the coming years.
Global Actuators and Valves Market: Trends and Prospects
The world actuators and valves market is foreseen to attain strength to capture major growth prospects due to the rise of urbanization producing a telling demand for infrastructure development in private and public sectors. As part of the infrastructure development, there could be an increase in the number of water treatment plants, electricity grids, water supply, and power stations. One of the leading factors of growth in the market could be aggressive urbanization in developing regions resulting into an expansion of urban areas in emerging countries. Furthermore, the implementation of simulation software is predicted to swell the demand for actuators and valves.
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With the deployment of simulation software, valve manufacturers are projected to save much on fabrication expenses and development time. This could be on account of the mounting demand for non-standard, customized products across a range of industries. The water and wastewater treatment market for actuators and valves is foretold to welcome a staggering revenue growth in the coming years as it holds on to a massive share. This growth in the market could be attributed to the continuous rise in worldwide population and rapid urbanization.
Global Actuators and Valves Market: Geographical Evaluation
In 2015, Asia Pacific (APAC) grabbed a colossal share in the international actuators and valves market. The region could continue to take on a major market share in the next few years after its growth being spurred by the global rise of the water and wastewater treatment industry. APAC is forecast to take advantage of the advancement of cutting-edge technology in the region due to the rise of the nuclear sector in China. The APAC market could gain momentum from the setup of large petrochemical and power units bringing about a significant transformation in the Indian economy.
North America could also achieve a high demand for actuators and valves owing to the quick growth of the oil and gas industry in Canada and the U.S. This could expand the growth of the developed region as it gains impetus from the development of chemicals, power generation, and other numerous energy-dependent industries.
The report also offers a study on other important regions of the international actuators and valves market, viz. South America, the Middle East and Africa (MEA), and Europe.
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Global Actuators and Valves Market: Key Players
Some of the vital companies worth studying their business strategies and growth path in the worldwide actuators and valves market are Burkert Fluid Control Systems, KITZ Corporation, Tyco International Ltd., Emerson Electric Co., and Honeywell International Inc.
Global Actuators and Valves Market: By Type
Linear Motion Valves
Rotary Motion Valves
Eccentric Plug Valves
Global Actuators and Valves Market: By Industry
Water and Waste Water Treatment
Food and Beverage
Oil and Gas
Paper and Pulp
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Global Actuators and Valves Market: By Geography
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Rest of MEA
Rest of South America