The maritime valves and actuators market is expected to grow at a compound annual growth rate (CAGR) of 4.5% over the forecast period, from US$ 3.7 billion in 2022 to US$ 5.8 billion by 2032.

The market share of marine valves and actuators has expanded globally due to factors such as rapid globalization, increased demand from the marine industry for these products, and a notable rise in foreign commerce.

Additionally, as a result of growing international trade, maritime valve and actuator sales are rising. Because of this, there is a sharp increase in the need for maritime valves and actuators.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=7294

Due to recent technical improvements, the marine sector is expected to use more advanced valves and actuators, which will increase demand for marine valves and actuators and create a huge market opportunity.

Globalization gone wild in the last half-century has led to an explosion in international trade and cross-cultural interaction. This element greatly increased the sales of maritime actuators and valves.

Moreover, it is expected that the need for marine valves and actuators would increase since shipping has emerged as the most popular means of transportation because of its low cost and low carbon impact. As a result, the market for marine valves and actuators has grown significantly due to the significant increase in the total number of dry cargo, tanker, bulk carrier, and service vessels. When using pneumatic actuator systems, more energy is usually wasted because the pressure is delivered higher than what the actuator can handle. Additionally, the volume of fluid lost in the

Moreover, the quantity of valves and actuators that control ship operations has increased along with the number of ships. Therefore, during the forecast period, these factors are anticipated to drive sales of marine valves and actuators and enhance the marine valves and actuators market as a whole.

The growing need for cutting-edge products that offer enhanced performance and dependability while minimizing environmental effect is driving the market for marine valves and actuators.

Since marine valves and actuators control every aspect of ship operations, their sales are increasing. These valves and actuators operate in a hostile environment that includes vibrations, high temperatures, salt spray, and chemical pollution.

Marine valves and actuators are expected to have a sharp increase in demand since they are resilient to extreme conditions, abide by strict regulations, and use less energy and require little maintenance. These considerations suggest that during the course of the projection period, the global market share for marine valves and actuators will likely rise.

 

Additionally, because marine valves and actuators are essential for maintaining a vessel's piping system, their sales are increasing. Planned maintenance is made possible by internal diagnostics in actuators and remote-controlled valves.

Due to their minimal maintenance requirements and energy efficiency, maritime valves and actuators are in high demand. Furthermore, by guaranteeing a dependable and effective functioning and decreasing downtime, less maintenance results in financial savings. Low-maintenance valves and actuators are probably going to be the key drivers of the marine valve and actuator market worldwide.

Key Takeaways

  • With a compound annual growth rate (CAGR) of 5.2% through 2032, the maritime valves and actuators market is expected to be dominated by the valves segment.
  • With a CAGR of 5.0% through 2032, the passenger ships and ferries segment is expected to lead the marine valves and actuators market based on vessel type.
  • Asia Pacific is expected to lead the world market for marine valves and actuators during the forecast period.
  • Increased maritime traffic is a result of the Asia Pacific (APAC) region's recent remarkable economic growth and the growth of the shipbuilding industries. The growth of maritime commerce has led to an increase in the need for ships that transport manufactured goods throughout the globe.
  • Thus, a growth in ships has contributed to the increased sales of marine valves and actuators in the Asia Pacific area. The military, especially the navy, is projected to use more marine valves and actuators because to the region's clear continuous territorial disputes.
  • Throughout the projection period, China and India are anticipated to have the most lucrative maritime valve and actuator markets.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: https://www.factmr.com/connectus/sample?flag=RC&rep_id=7294

Competitive Landscape

The major companies in the maritime valves and actuators market are Emerson Electric Co., Flowserve Corporation, Honeywell International Inc., KITZ Corporation, and Rotork Plc.

These firms have employed a range of growth strategies, such as partnerships and collaborations, acquisitions, expansions, and the launching of new products, to further establish their market share in the maritime valves and actuators industry.

Recent Developments

In August 2018, Shearwater GeoServices Holding AS purchased Schlumberger Limited, a U.S.-based provider of global oilfield services.

In April 2017, Emerson Electric Co. paid US$ 3.15 billion for the Valves and Control arm of Pentair plc.

In 2018, Honeywell announced two technology-focused acquisitions with Transnorm (Germany) and Ortloff Engineers, Ltd. (US) valued at over $500 million. The acquisition of Transnorm aimed to enhance warehouse automation systems and establish a presence in the European market.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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