Industrial Valves And Actuators Market Size & Share, By End-use (Oil & Gas, Chemical, Energy & Power, Pulp & Paper), Product, System, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Industrial Valves And Actuators Market surpassed USD 146.09 Billion in 2023 and is poised to exceed USD 221.97 Billion by end of the year 2032, witnessing more than 5.5% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 146.09 Billion
• CAGR (2024-2032): 5.5%
• Forecast Year Value (2032): USD 221.97 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Increasing industrial automation across various sectors is expected to drive the demand for industrial valves and actuators.

The expanding energy sector, particularly in emerging economies, is likely to fuel the growth of the industrial valves and actuators market.

Rapid urbanization and infrastructural development projects worldwide are creating a strong demand for industrial valves and actuators.

Report Scope

Report Coverage	Details
Segments Covered	Product, System, End-Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	ABB, ALFA LAVAL, AVK Holding A/S, Avada , Curtiss-Wright, Delta Pacific Valve Mfg. Co., Eaton, Emerson Electric Co., Festo, Flowserve, Goodwin PLC, GWC Italia S.p.A., Honeywell International, IMI, Moog, PARKER HANNIFIN CORP, PETROLVALVES S.P.A, Rotork, SLB, SMC, Valvitalia SpA, Velan, Watts

Industry Restraints:

High initial investment and maintenance costs associated with industrial valves and actuators are expected to hinder market growth.

Stringent government regulations regarding environmental protection and safety standards may pose a challenge to the industrial valves and actuators market.

Regional Forecast:

North America:

The industrial valves and actuators market in North America is expected to witness steady growth due to increasing demand from various industries such as oil and gas, water and wastewater, and chemicals. The United States is the largest market in the region, followed by Canada. The presence of major players and the adoption of advanced technologies are driving the market growth in North America.

Asia Pacific:

Asia Pacific is anticipated to be the fastest-growing region in the industrial valves and actuators market. China, Japan, and South Korea are the key countries contributing to the market growth in the region. The rapid industrialization, infrastructural development, and increasing investments in the oil and gas sector are fueling the demand for industrial valves and actuators in Asia Pacific.

Europe:

Europe is a mature market for industrial valves and actuators, with the United Kingdom, Germany, and France being the major contributors. The presence of stringent regulations regarding emissions and the focus on energy efficiency are driving the adoption of advanced valves and actuators in the region. The demand for industrial valves and actuators is also increasing in the water and wastewater treatment sector in Europe.

Segmentation Analysis:

In terms of segmentation, the global industrial valves and actuators market is analyzed on the basis of Product, System, End-Use

Industrial Valves And Actuators Market

Oil & Gas:

The oil & gas industry is a major end-use segment for industrial valves and actuators, driving the demand for various types of valves such as gate valves, ball valves, and butterfly valves. The high pressure and temperature conditions in oil & gas operations require reliable and durable valves and actuators to ensure smooth functioning and safety. The increasing investments in oil & gas exploration and production activities are expected to drive the growth of the industrial valves and actuators market in this segment.

Chemical:

The chemical industry is another significant end-use segment for industrial valves and actuators, with a wide range of applications such as chemical processing, petrochemicals, and specialty chemicals. The stringent regulations and safety requirements in the chemical industry necessitate the use of high-quality valves and actuators to control the flow of various chemicals and maintain process efficiency. The growing demand for specialty chemicals and customized solutions is expected to boost the demand for industrial valves and actuators in this segment.

Energy & Power:

The energy & power sector is a key end-use segment for industrial valves and actuators, with applications in power plants, renewable energy installations, and utility infrastructure. The increasing focus on energy efficiency and the shift towards cleaner and sustainable energy sources are driving the demand for advanced valves and actuators with enhanced performance and efficiency. The integration of smart technologies and automation solutions is expected to drive the growth of the industrial valves and actuators market in the energy & power segment.

Pulp & Paper:

The pulp & paper industry is a significant end-use segment for industrial valves and actuators, with applications in paper mills, pulp processing, and waste management. The harsh operating conditions in pulp & paper operations require robust valves and actuators to handle abrasive materials and corrosive chemicals. The adoption of advanced automation technologies and digitization initiatives is expected to drive the demand for industrial valves and actuators in the pulp & paper segment, improving process efficiency and productivity.

Competitive Landscape:

The competitive landscape in the Industrial Valves And Actuators Market is characterized by intense competition among key players striving to expand their market presence. These companies are constantly engaged in product innovations, strategic partnerships, mergers and acquisitions to gain a competitive edge.

Top Market Players:

1. Emerson Electric Co.

2. Flowserve Corporation

3. Cameron International Corporation

4. IMI Plc

5. KITZ Corporation

6. Rotork PLC

7. Crane Co.

8. AVK Holding A/S

9. Spirax-Sarco Engineering

10. The Weir Group PLC