The marine valves and actuators market is anticipated to reach a valuation of US$ 5.8 Bn by 2032 from US$ 3.7 Bn in 2022, rising at a CAGR of 4.5% during the forecast period.
Rapid globalization, rising demand for marine valves and actuators in the marine sector, and a significant increase in foreign trade have all aided the global expansion of the marine valves and actuators market share.
Furthermore, due to increased global trade, the sales of marine valves and actuators are increasing. As a result, the demand for marine valves and actuators is also growing rapidly.
The demand for marine valves and actuators is anticipated to grow as the marine sector is increasingly using advanced valves and actuators due to recent technological advancements, creating a great market opportunity.
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Key Takeaways
- By type, the valves segment is projected to dominate the marine valves and actuators market with a CAGR of 5.2% through 2032.
- On the basis of vessel type, the passenger ships and ferries segment is anticipated to lead the marine valves and actuators market with a CAGR of 5.0% through 2032.
- During the forecast period, Asia Pacific is predicted to lead the global market for marine valves and actuators.
- The Asia Pacific (APAC) region has experienced tremendous economic growth as well as the expansion of the shipbuilding industries in recent years, resulting in increased maritime traffic. The development in seaborne trade has resulted in a surge in demand for ships that convey produced items to various parts of the world.
- As a result, the growing sales of marine valves and actuatorsin the Asia Pacific region has been aided by an increase in the number of ships. Due to the obvious ongoing territorial battles in the region, the marine valves and actuators in the military sector, particularly the navy, is expected to grow.
- China and India are projected to be the most profitable marine valves and actuators market during the forecast period.
Competitive Landscape
Emerson Electric Co, Flowserve Corporation, Honeywell International Inc., KITZ Corporation, and Rotork Plc are the key players in the marine valves and actuators market.
To further increase their presence in the marine valves and actuators market, these companies have used a variety of growth methods including acquisitions, expansions, new product releases, and partnerships and collaborations.
Major Key Players
- AVK Holdings A/S
- Bürkert Fluid Control Systems
- Emerson Electric Co
- Flowserve Corporation
- Honeywell International Inc.
- KITZ Corporation
- Rotork Plc
- Schlumberger Limited
- Tyco International Ltd.
- Watts Water Technologies, Inc.
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Recent Developments
Schlumberger Limited, a U.S.-based provider of international oilfield services, was acquired by Shearwater GeoServices Holding AS in August 2018.
Emerson Electric Co paid US$ 3.15 billion for Pentair plc’s Valves and Control unit in April 2017.
Honeywell announced two technology-oriented acquisitions in 2018, totaling more than USD 500 million, with Transnorm (Germany) and Ortloff Engineers, Ltd. (US). Transnorm was purchased in order to improve warehouse automation platforms and get a foothold in the European industry.
Questionnaire answered in the Marine valves and actuators Market report include:
- How the market for Marine valves and actuators has grown?
- What is the present and future outlook of the global Marine valves and actuators on the basis of region?
- What are the challenges and opportunities for the Marine valves and actuators?
- Why the consumption of Marine valves and actuators highest in region?
- In which year segment is expected to overtake segment?
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Key Segments
- By Technology Type :
- Actuators
- Pneumatic Actuators
- Hydraulic Actuators
- Manual Actuators
- Electric Actuators
- Mechanical Actuators
- Hybrid Actuators
- Valves
- Linear Motion Valves
- Globe Valve
- Gate Valve
- Diaphragm Valve
- Pinch Valve
- Rotary Motion Valves
- Ball Valve
- Butterfly Valve
- Eccentric Plug Valve
- Specialty Valve
- Self-actuated Valve
- By Vessel Type
- Passenger Ships & Vessels
- Dry Cargo Vessels
- Tankers
- Dry Bulk Carriers
- Special Purpose Vessels
- Service Vessels
- Fishing Vessels
- Off-Shore Vessels
- Yachts
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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