Demand for Industrial Valves and Actuators and Impact of COVID-19……..


The global industrial valves and actuators market size is expected to reach USD 145.87 billion by 2025 at a 4.14% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. Growing demand in the industrial sector, technological advancements propelling use of smart valves and actuators, and stringent government regulations have bolstered market growth. Adoption of industrial valves and actuators has been on a continuous rise owing to the benefits they offer in controlling temperature and pressure throughout downstream, midstream, and upstream activities. Thus, growing oil and gas exploration activities have triggered demand for industrial valves and actuators.
The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.
Increasing global water stress, coupled with industrial wastewater disposal in aquatic ecosystems, has led to urgent need for water reclamation. In order to curb these rising issues, demand for effective treatment equipment systems have increased, thereby opening up immense opportunities in water and wastewater industries. Furthermore, 3D printing, also known as additive manufacturing (AM), has the potential to transform the production of industrial valves and actuators. A myriad of conventional designs and products, including check valves, gate valves, and servo valves, can now be developed using 3D printing technology. The technology is helping valve manufacturers in changing the approach from “Just-in-time (JIT) delivery” to “JIT manufacturing”.
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Asia Pacific is expected to dominate the market over the forecast period owing to rising subsea explorations and increasing investments in industries such as chemical, water and wastewater, and energy and power. Moreover, expanding production of oil sands and shale gas in North America and growing exploration in regions such as Africa and Asia have spurred market demand. Replacement of old and inefficient valves with more efficient ones for gas transportation in midstream infrastructure is also anticipated to boost demand over the forecast period.
Further key findings from the study suggest:
·         The linear actuator segment is expected to dominate the industrial actuator market by product owing to its preferred use for gate, globe, check, safety valves, among others
·         The market for ball valves is expected to dominate the industrial valves product segment owing to it wide demand across oil & gas, water & wastewater, chemical, and energy & power industries
·         Asia Pacific is expected to be the largest and fastest-growing region over the forecast period due to increasing demand from industries such as oil & gas, water & wastewater, and energy & power in emerging economies like China and India
·         Prominent industry participants include Emerson Electric Co., Flowserve Corporation, IMI plc, Schlumberger Limited, and AVK Holding A/S.
The global industrial valves and actuators market size was valued at USD 105.11 billion in 2017. It is expected to expand at a CAGR of 4.14% over the forecast period. Spiraling demand from industrial sectors such as oil and gas, water and wastewater treatment, and energy and power industry is anticipated to stoke the growth of the market. Additionally, technological advancements are encouraging the use of smart valves and actuators, which in turn is working in favor of the market.
Increasing oil and gas exploration activities are projected to open ample growth opportunities for the market. Industrial valves and actuators can be used in offshore activities as well as onshore activities, where adoption has been growing owing to their capability to withstand high-pressure conditions and adverse corrosive conditions in refineries and production platforms. Adoption of industrial valves and actuators is rising continuously owing to benefits they offer in controlling the temperature and pressure throughout downstream, midstream, and upstream activities.
Rapid urbanization and industrialization have triggered the demand for energy. As a result, several countries have initiated oil and gas exploration activities. Large oil exploration companies and oil and gas exporting countries, such as Russia, Canada, Saudi Arabia, U.K., and Netherlands, are tapping into opportunity to increase their revenues and expand their market shares.
Industrial valves and actuators are used to direct and control the flow of fluids through pipelines in power plants, refineries, and water and wastewater treatment plants, among others. The market is expected to grow in line with rising demand from various end-use industries, such as oil and gas, water and wastewater treatment, and energy and power.
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https://www.grandviewresearch.com/press-release/global-industrial-valves-actuators-market
Grand View Research has segmented the global industrial valves and actuators market based on product type, system, end use, and region:
Industrial Valves and Actuators Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Industrial Valves
o    Gate Valve
o    Globe Valve
o    Ball Valve
o    Butterfly Valve
o    Safety Valve
o    Plug Valve
o    Others (Diaphragm, Check)
·         Industrial Actuators
o    Linear Actuators
o    Rotary Actuators
Industrial Valves and Actuators System Outlook (Revenue, USD Million, 2015 - 2025)
·         Industrial Actuators
o    Mechanical Actuators
o    Electric Actuators
o    Pneumatic Actuators
o    Hydraulic Actuators
Industrial Valves and Actuators End-use Outlook (Revenue, USD Million, 2015 - 2025)
·         Oil & Gas
·         Chemical
·         Energy & Power
·         Water & Wastewater
·         Pulp & Paper
·         Food & Beverage
·         Others (manufacturing, electronics, marine, and textiles)

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.






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