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Marine Valves and Actuators Market

Marine Valves and Actuators Market

Marine Valves and Actuators Market Analysis by Technology Type (Actuators [Pneumatic Actuators, Hydraulic Actuators, Manual Actuators, Electric Actuators], Valves [Linear Motion Valves, Rotary Motion Valve, Specialty Valve]), by Vessel Type (Passenger Ships & Vessels, Dry Cargo Vessels, Tankers, Dry Bulk Carriers), by Region - Global Forecast 2022-2032

Marine Valves and Actuators Market
FACT7294MR

Global Marine Valves and Actuators Market Outlook

The marine valves and actuators market is predicted to grow at a moderate CAGR of 4.5%. The global market is estimated to reach a value of about US$ 5.8 Bn by 2032, growing from US$ 3.5 Bn valued in 2021.

Attributes

Details

Marine Valves and Actuators Market Size (2021)

US$ 3.5 Bn

Marine Valves and Actuators Market Value (2022)

US$ 3.7 Bn

Marine Valves and Actuators Market Value (2032)

US$ 5.8 Bn

Marine Valves and Actuators Market Growth Rate (2022-2032)

4.5%%

Market Share of Top 5 Countries

63.8%

Marine Valves and Actuators Market Key Players

  • AVK Holdings A/S
  • Bürkert Fluid Control Systems
  • Emerson Electric Co
  • Flowserve Corporation
  • Honeywell International Inc.
  • KITZ Corporation
  • Rotork Plc
  • Schlumberger Limited
  • Tyco International Ltd.
  • Watts Water Technologies, Inc.

“Recent technical advancements in the marine sector achieved through R&D activities has increased the demand for employing advanced actuators and valves, giving a broad market reach.”

Rapid globalization of the manufacturing market has significantly increased the international commerce rising demand for marine ships and vessels that can transport the raw materials and finished products. The growing use of vessels for marine mobility has aided the growth of the one-way marine valve and actuator market across the world.

What is the Covid-19 Impact on Global Marine Valves and Actuators Market?

During the global pandemic years, all the industries dealing with non-essential items, particularly the transportation sector, were hit severely by the imposed restrictions on the free movement of citizens and logistics. Sea routes and waterway transports dropped down, indirectly reducing the demand for maritime actuators and valves along with the manufacturing of ships, vessels, ferries and other water transport vehicles.

The growth of the global maritime valves and actuator market was observed to decrease from a higher rate of 5.7% recorded by the previous market report for the years 2015 to 2021.

Developed economies around the world are concentrating on compensating for the pandemic effects by accelerating operations when opportunities occur. It is expected to boost the maritime industry, further benefiting the marine fuel tank selector valve and actuators market.

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What are the Different Market Dynamics driving the Global Marine Valve Actuators Market?

“The need for sea transportation is increasing as a result of increased worldwide trade that have shifted the scales in favour of developments in the marine actuators and valves market.”

What are the Driving Factors for the Global Marine Valves and Actuators Market in the Forecast Years?

In the present world, shipping has overtaken other means of transportation as the highly preferred method of transportation due to its low cost a minimal carbon footprint.

Consequently, the overall volume of traffic over sea routes and waterways has expanded substantially by seaborne tankers, vessels, ships and other cargo boats. Air vent head that governs ship operations by using valves and actuators is turning out to be a remunerative business for market players.

The defence or naval branch contributes a significant marine valves and actuators market share since flow management in the battleships is critical for the sector. Advancement in maritime warfare techniques deploying military-grade maritime vessels such as corvettes, frigates and destroyers is expected to boost the demand for marine electric actuators and marine gas valves in the defence sector.

The global expansion of the oil & gas sector as a result of enlarging production and consumption levels throughout the economies has resulted in the development of seaborne trade among supplier and consumer economies. According to the market survey report by United Nations Conference on Trade & Development (UNCTAD) in 2021, more than 80% of international trade in goods is carried out by sea routes in terms of volume.

The shipping industry is expanding at a significant rate after the receding of the pandemic crisis carrying immense opportunities for the associated industries, including the global valves and actuators market.

What are the Major Challenges Experienced by the Marine Valves and Actuators Market Players?

The use of pneumatic actuator systems typically wastes more energy by delivering more pressure than the requirement of the actuator. Moreover, the amount of fluid lost in the

pneumatic actuators decreases the efficiency resulting in a cost of US$ 0.1 per kilowatt-hour of electricity. Such a higher cost associated with the marine valves and actuators has rendered it a less feasible option for many end-users.

The provision of compulsory regulatory policies for testing and release of the marine inline check valve and actuators is the most limiting factor for the global market located within any national boundary. As a result, many emerging players in the marine valve and actuators market can’t afford the expenses associated with the intensive testing procedures and get side-lined in the global market.

These are some of the factors that are projected to impede the growth of the worldwide marine valves and actuators market during the forecast years.

Comparative View of Adjacent Global Marine Valve Actuators Market

Attributes

Marine Valves and Actuators Market

Marine Scrubber Systems Market

Marine Sealants Market

CAGR

(2022-2032)

4.5%

10.8%

2%

Market Value

(2027)

US$ 4.9 Bn

US$ 7 Bn

US$ 45 Bn

Growth Factor

Rise in demand for sea borne trade and waterway transport systems.

Directives focused at curbing the marine pollution has increased the use of scrubbers.

Expansion of global cargo trade has enhanced the shipbuilding industry.

Opportunity

Diversification of crude oil suppliers in view of present geopolitical situations.

Rising concerns for the amount of Sulphur oxides from the maritime industry calls for more R&D.

Strengthening of naval power by inducting more number of warships in the coming days.

Key Trends

Adoption of high performance ferry and boat engines for urban transportation.

Asia Pacific region holds the largest market share in terms of consumption and export in the global market.

R&D initiatives undertaken by numerous manufacturing companies has stimulated the industry demand.

The need for new types of technologies is being fuelled by higher demand for innovative goods that can provide improved performance and dependability while minimizing environmental impacts.

A marine linear actuator is a very important component for the maritime industry as it helps to regulate the valves that govern the operation of ship engines. As the environment in which they operate gets harsh with high temperatures and salt spray, quality products are always sought by manufacturers.

Actuators and valves that can survive such harsh conditions need to undergo stringent regulatory rules before entering the market. Furthermore, robust, energy-efficient products requiring low maintenance costs are particularly in great demand in the global marine valves and actuators market.

Growth of oceanic interchange and rising sea route tourist traffic have pushed the speedboat segment, bringing up higher opportunities for marine pressure relief valves and actuators in the tourism sector as well.

There has also been an increasing trend of deploying robotic frameworks in yachts that has increased the focus on producing advanced digitized boat hatch linear actuators and valves by some of the leading marine valves manufacturers.

Expansion of urban waterway transportation system is predicted to create several economic prospects for the manufacturing and supply of anti-siphon valves for the boat fuel tank and other accessories in the developed economies. As rivers can provide a quick and cost-effective commodities transit system, it is being developed rapidly in many cities across the world.

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What is the Growth Outlook for the Global Marine Valve Actuators Market According to Different Segments?

“While the global market for ship valves and actuator is predicted to grow at a CAGR of 5.8 percent the greatest possibilities is expected to be found in emerging countries of Asia Pacific.”

What are the Different Segments of Marine Valves and Actuators Market According to the Type?

Valves hold the dominant market share occupying almost 77.5% of the total revenue generated by the whole market. This segment is growing as the most popular choice among the shipbuilding industries by virtue of its low cost and higher reliability. Among the various sub-segments, marine linear motion valves have proved to be the most profitable category in the global market.

On the other hand, actuators are observed to be experiencing a milder growth in comparison to valves. Marine linear actuators are predicted to drive the market with a significant contribution in the coming days.

What are the Different Vessel Types for the Application of the Marine Actuators and Valves?

Passenger ships and ferries are predicted to be the most lucrative sector for the marine valves and actuators market, with an estimated growth rate of 5% in the coming days. The other vessel types, such as dry cargo vessels and tankers, are also expected to experience positive growth rates close to it as shipbuilding in several maritime countries expands. Different vessel types make use of various fuel and propulsion systems requiring different types of the marine fuel check valve and actuators.

Besides product type and vessel type, the global marine actuators and valves market is also categorized on the basis of material used for its making. Over the projection period, the alloy-based segment is expected to increase at the fastest CAGR as these are exceedingly adaptable and have great corrosion resistance in marine conditions.

The introduction of the alloy-based marine non-return valve and actuators has widened its application which is anticipated to increase demand in the global market.

What is the Performance of Global Marine Valve Actuators Market in Different Geographical Regions?

Region

CAGR (2022 to 2032)

United States (US)

4%

United Kingdom (UK)

5.3%

China

7%

Japan

7.2%

India

8.2%

According to the region, Asia Pacific countries are expected to develop at a substantial rate throughout the projection period owing to an increase in marine vessel supplies. The Asian shipbuilding sector is getting popular for its highly efficient marine valves and actuators, gaining a strong International market position.

India is the top-performing nation for the manufacturing of marine one-way valves and actuators at affordable prices. This market is predicted to register the highest CAGR of 8.2% during the years forecasted years, followed by Japan at 7.2%. At the same time, China dominates the global marine valves and actuators market contributing almost one-quarter of the total revenue generated.

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How Strong is the Competitive Landscape for the Global Marine Valve Actuators Market?

The worldwide marine actuators and valves market is shared by both major and small businesses. Most of the notable firms have a significant global presence and are more focussed on developing more modern solutions to meet the needs of the maritime sector.

What are the Major Developments in the Field of Marine Valves and Actuators Market?

  • For US$ 64 Mn, the Moong Company bought the complete ownership stake in VUES Brno s.r.o. of Czech Republic, having a 74 percent ownership interest in a subsidiary located in Germany.
  • Honeywell International Inc. Conducted 2 technology-related purchases in 2018 with Ortloff Engineers, Ltd and Transnorm of US and Germany respectively. The purchase is aimed at improving automation technologies and gaining market presence in European region.

Key Segments

  • By Technology Type :

    • Actuators
      • Pneumatic Actuators
      • Hydraulic Actuators
      • Manual Actuators
      • Electric Actuators
      • Mechanical Actuators
      • Hybrid Actuators
    • Valves
      • Linear Motion Valves
        • Globe Valve
        • Gate Valve
        • Diaphragm Valve
        • Pinch Valve
      • Rotary Motion Valves
        • Ball Valve
        • Butterfly Valve
        • Eccentric Plug Valve
      • Specialty Valve
      • Self-actuated Valve
  • By Vessel Type :

    • Passenger Ships & Vessels
    • Dry Cargo Vessels
    • Tankers
    • Dry Bulk Carriers
    • Special Purpose Vessels
    • Service Vessels
    • Fishing Vessels
    • Off-Shore Vessels
    • Yachts
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The global marine valves and actuators market is estimated to grow at a rate of 4.5% during the forecast period.
The global marine valves and actuators market is predicted to be valued at US$ 5.8 Bn by 2032.
The global marine valves and actuators market was valued at US$ 3.7 Bn in 2022.
Asia Pacific occupies the major share of the global marine valves and actuators market with China contributing for almost 25% of the total revenue.
Asia Pacific region is predicted to witness the highest CAGR in the marine valves and actuators market majorly driven by India and Japan.

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