Albany, NY -- (SBWIRE) -- 05/19/2018 -- Serving a range of industrial applications, actuators and valves have emerged as the essential components that can control the flow of semi-solids, liquids and gasses for increasing the efficiency of industrial processes. Increasing penetration of industrial automation has further necessitated the use of actuators and valves. Petrochemicals, pharmaceuticals and automotive – among the world's highly profitable industrial verticals are showcasing a growing demand for actuators and valves.
Manufacturing sector is also witnessing a growing uptake for actuators and valves, and these components are being used to successfully automate and process and control the pipeline operations.
global actuators and valves market
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Transparency Market Research's latest forecast study on the global actuators and valves market projects that the demand for actuators and valves will witness steady traction in the years to come. According to the report, the global actuators and valves market will expand at an estimated 5.3% CAGR in terms of value during the forecast period, 2017-2026. The report further reveals that by the end of 2026, the global actuators and valves market will surpass a valuation of US$ 511 Bn.
High Demand for Pneumatic Actuators and Quarter Turn Valves
A product-based analysis of the global actuators and valves market has been developed in the report, findings from which forecast a soaring demand for quarter turn valves and pneumatic actuators. In the near future, hydraulic actuators are expected to lose traction over pneumatic actuators as the latter's efficiency in fluid power applications is recognized as a key advantage. In addition, the effective role of pneumatic actuators in sustaining overload pressure conditions will further propel their sales in the global actuators and valves market.
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Likewise, the competitive advantage of quarter turn valves in offering bi-directional operability is extending their application scope. The adoption of quarter turn valves is expected to gain traction in the years to come. The report estimates that by the end of 2026, over US$ 78 Bn worth of pneumatic actuators will be sold across the globe. By the end of the forecast period, the global sales of quarter turn valves is estimated to translated into US$ 85 Bn in terms of revenues.
Oil & Gas Applications of Actuators and Valves to Register Highest Revenues through 2026
The report has further estimated that in 2018 and beyond, the application of actuators and valves in oil & gas industry will account for highest share of global market value. By the end of 2026, more than US$ 100 Bn worth of actuators and valves are expected to be used in oil & gas applications worldwide. The report also observes the Asia-Pacific excluding Japan (APEJ) region as the most lucrative marketplace for adoption of actuators and valves.
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High presence of crude oil producers, with China dubbed as the region's largest oil producer, coupled with robust growth in automotive and pharmaceuticals industries, is expected to drive the growth of the APEJ actuators and valves market through 2026. By the end of the forecast period, the APEJ actuators and valves market is estimated to touch US$ 215 Bn valuation, reflecting the highest volume CAGR of 5.9% over the forecast period.
Key Manufacturers of Actuators and Valves
The report has profiled companies namely, Honeywell International Inc., AVK Holdings A/S., Flowserve Corporations, Schlumberger Limited, Emerson Electric Co., Tyco International Ltd., KITZ Corporation, Burkert Fluid Control Systems, Watts Water Technologies, Inc, and Rotork Plc. as the key players in the global actuators and valves market.