What Does the Historical and Current Marine Actuators And Valves Market Size Trend Indicate?
The marine actuators and valves market has seen considerable growth due to a variety of factors.
•The size of the marine actuators and valves market has consistently seen growth in the past few years. This market is anticipated to expand from a value of $3.65 billion in 2024 to $3.83 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%.
Factors such as upgrades to the existing fleet, an increase in shipbuilding, concentration on fuel efficiency, growth of the cruise industry, global trade expansion, and escalating investments in naval forces have contributed to the growth during the historic period.
How Will the Marine Actuators And Valves Market Size Evolve over the Forecast Period?
The marine actuators and valves market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the marine actuators and valves market is projected to experience robust growth. Its size is estimated to expand to "$4.68 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%.
The expected growth during the forecast period is due to the increased attention to environmental compliance, expansion of offshore wind energy, autonomous ships' evolution, maritime systems' cybersecurity focus, and uptake of additive manufacturing. During the forecast period, major market trends to look out for are automation and intelligent technologies, fuel efficiency and emissions reduction, LNG-powered vessels, digital twins and simulation technologies, innovative materials and corrosion resistance.
Which Factors Are Boosting Growth In The Marine Actuators And Valves Market?
The rise in global seaborne trade is anticipated to fuel the expansion of the marine actuators and valves market. The movement of goods by sea among various countries or regions, known as seaborne trade, evaluates the goods dispatched and loaded. Marine actuators and valves are fundamental in ensuring the security and effective operation of ships, as they control the fluid pressure flow in diverse systems on board and transform energy into control motion to halt or secure any object on the vessel. For instance, Eurostat, the government agency based in Luxembourg, recorded the gross weight of seaborne goods in the European Union to be 893.97 million tonnes in Q2 2022, a rise from 851.28 million tonnes in Q2 2021. Hence, the surge in global seaborne trade is prompting the growth of the marine actuators and valves market.
What Key Areas Define The Segmentation Of The Global Marine Actuators And Valves Market?
The marine actuators and valves market covered in this report is segmented –
1) By Product: Valves, Actuators
2) By Material: Stainless Steel, Aluminum, Alloy-Based, Other Materials
3) By Mechanism: Pneumatic, Hydraulic, Electric, Hybrid, Mechanical, Manual
4) By Application: Defense, Commercial
5) By End User: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Valves: Ball Valves, Gate Valves, Globe Valves, Butterfly Valves, Check Valves
2) By Actuators: Electric Actuators, Hydraulic Actuators, Pneumatic Actuators, Manual Actuators
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How Are Emerging Trends Reshaping The Dynamics Of The Marine Actuators And Valves Market?
The accelerated adoption of novel technologies in the marine actuators and valves sector is gaining traction as a significant trend. Firms in this market are employing these innovations to maintain their market standing. For example, W&O Supply, a maritime fittings supplier based in the US, introduced a digital marine valve management service with radio frequency identification technology (RFID) integration in June 2022. This technology facilitates operators in identifying details regarding the range of valves onboard, thus preventing potential operation delays.
Who Are the Key Players in the Marine Actuators And Valves Market?
Major companies operating in the marine actuators and valves market include:
• Honeywell International Inc.
• Rotork plc
• Emerson Electric Co.
• Curtiss-Wright Corporation
• Flowserve Corporation
• KITZ Corporation
• Watts Water Technologies Inc.
• Bürkert Fluid Control Systems
• Schlumberger Limited
• AVK Holding A/S
• IMI plc
• Rockwell Automation
• Wärtsilä Oyj Abp
• Bray International Inc.
• AUMA Industry & Marine GmbH
• Moog Inc.
• KSB SE & Co. KGaA
• Bosch Rexroth AG
• Danfoss A/S
• Parker Hannifin Corporation
• Alfa Laval AB
• Weir Group plc
• Eaton Corporation plc
• Spirax-Sarco Engineering plc
• Velan Inc.
• Hitachi Ltd.
• CIRCOR International Inc.
• Samson AG
• ITT Inc.
What Is The Most Dominant Region In The Marine Actuators And Valves Market?
Asia-Pacific was the largest region in the marine actuators and valves market in 2024. The regions covered in the marine actuators and valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
