Market Size of Valves and Actuators Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Valves & Actuators Market Analysis
The valves and actuators market is expected to grow at a CAGR of 6.52% over the forecast period (2021 - 2026). Valves and actuators play a vital role in the increasingly complex industrial environments. Pipelines are necessary for every industry that deals with fluid, whether they are in crude oil or natural gas production. Nearly all industry verticals, like medicine, food processing, water treatment as well as in engines, machinery, and plant engineering, or the conveyance of gas, fluids, and free-flowing solids there is extensive usage of pipes and valves.
- The advancement in the technologies for automation is driving industry 4.0 across the industrial domains which are making rapid growth for the adoption of smart valves and actuators to get better control over the operation and safety.
- Additionally, the rising demand for water with an associated increase in population has increased the water consumption per capita over the years coupled with declining water supplies due to contamination and climate change.
- These factors have raised the desalination activities across the world. According to a study by E. Jones, currently there are 15,906 desalination plants worldwide and many projects are still under progress which is also significantly driving the demand for valves and actuators.
- Whereas, due to stagnant industrial growth in the developed countries, the demand has stalled for valves and actuators.
