Valve Actuator Market is expected to reach US$ 23.52 billion by 2031

PRESS RELEASE BY The Insight Partners 15 May 2024

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According to our latest study on “Valve Actuator Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by End-User, Product Type, and Geography,” the market was valued at US$ 15.78 billion in 2023 and is expected to reach US$ 23.52 billion by 2031; it is estimated to record a CAGR of 5.0% from 2023 to 2031.

The report includes growth prospects in light of current valve actuator market trends and driving factors influencing market development. North America dominates the global market with the largest share. APAC is expected to record the highest CAGR during the forecast period. The rise in the use of smart actuators and governments’ focus on boosting the adoption of electric vehicles are expected to benefit the valve actuator market growth in the regions mentioned above.

Valve Actuator Market – by Region, 2023 and 2031

Valve Actuator Market – by Region, 2023 and 2031

Valve Actuator Market Report (2021-2031) | The Insight Partners

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Valve Actuator Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By End-user (Mining, LNG, Chemical, Oil and Gas, Water and Wastewater, Others), Product Type (Electrical, Manual, Hydraulic, Pneumatic), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, South & Central America)

Source: The Insight Partners Analysis

Precision control of the product flow through system valves is essential in the oil, gas, and petrochemical industries, and valve actuators modulate that flow. Under the most extreme circumstances—such as extreme highs and lows, drought or heavy precipitation, isolated locations in deserts or the Arctic, and the corrosive effects of chemicals, high humidity, or salinity for prolonged periods—these vital pieces of equipment must function dependably and safely. Explosion protection is necessary in potentially explosive environments, and fireproof operation is essential in some applications. Thus, the need for valve actuators to perform the core function of opening and closing valves in the growing oil & gas industry fosters the valve actuator market growth.

Many market players providing solutions for renewable energy will cater to the needs of the growing renewable energy sector in the coming years. For example, companies such as Valmet and Mecvel Srl provide a range of actuators that can benefit the renewable energy sector. MecVel's actuators may be used in the hydroelectric field to automate the opening/closing of bulkheads for water flow regulation. Also, Valmet's Neles double-acting and spring return quarter-turn actuators are designed for use in modulating control and on-off service. These actuators offer an extremely long cycle life. They are well-suited for almost any type of rotary valve. Thus, government spending on renewable energy fuels the Valve Actuator Market growth.  

Based on geography, the valve actuator market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market in North America is segmented into the US, Canada, and Mexico. The US accounted for the largest valve actuator market share in 2023. The US has the presence of renowned players such as Emerson Electric Co., Flowserve Corporation, and Crane Company that provide actuators. Players across the country focus on the development of new valve actuators. In February 2024, Emerson Electric Co. launched the Fisher Easy-Drive 200R electric actuator for use on Fisher butterfly and ball valves. When paired with these valves, the launched valve actuator performs accurately and reliably under extreme conditions in many heavy industries, particularly oil and gas installations in cold, remote locations. Thus, the presence of renowned market players and new product launches propel the growth of the US Valve Actuator Market.

Valve Actuator Market Report Segmentation and Scope:

The valve actuator market analysis has been carried out by considering the following segments: end-user, application, product type, and geography. Based on end-user, the market is divided into mining, LNG, chemical, oil & gas, water and wastewater, and others. The water and wastewater segment held a significant Valve Actuator Market share in 2023. Due to mandates such as the Safe Drinking Water Act (SDWA), there has been a rise in the focus on potable water treatment operations. Valve actuators execute the instructions of electronic control systems with the essential precision to control the fluid flow of water, chemicals, and sewage. With the growth in world population and more wastewater released into the ecosystem, there is a rise in the number of new wastewater plants around the world, which is fostering the demand for valve actuators.

Emerson Electric Co, Schlumberger NV, Alfa Laval AB, Flowserve Corp, Crane Company, Rotork Plc, Valmet Oyj, KITZ Corp, IMI Plc, and Tolomatic, Inc. are among the prominent players profiled in the Valve Actuator Market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem.

Valve Actuator Market Recent Developments: 

The valve actuator market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. Companies operating in the market highly adopt inorganic and organic strategies such as mergers and acquisitions. As per the company press releases, below are a few recent key developments:

  • In 2023, over 100 multi-turn and part-turn intelligent electric actuators from Rotork were installed at a new petrochemical site in Daesan, South Korea. The IQ actuators provide flow control at the plant, which produces ethylene, polyethylene, and propylene. The actuators have been installed in the cracking units in the plant to control the flow of the oil, which is the feedstock at the heart of the production process. They operate ball, gate, globe, and butterfly valves.
  • In 2021, Siemens AG announced its latest range of actuators for valves, which provide low-noise operation for automation use. The SSA range of actuators by Siemens was designed for small valve systems (such as central heating controls and water flow). The actuators include IP54 protection for more flexible installation. The actuators have an integrated LED display for status indication and utilize feedback signals to the controlling device to create a closed-loop design.

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