Valve Actuator Market Forecast and Growth 2031

The valve actuator market size was valued at 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 the market growth. The miniaturization of electronic components and systems plays an important role in the electronics industry. It helps reduce the size of the electronic components used in several applications, such as consumer electronics, healthcare, and automotive. In addition, it helps save space for the incorporation of more technologies or reduce the overall size of the electronic device. For example, the reduced size of batteries helps in powering computer miniaturizations. Moreover, miniaturization helps save the cost of the overall material used in the products or components, which can reduce the overall cost of components and devices. Thus, the miniaturization of the actuators will play a crucial role in integration with the miniatured electronic systems

Valve Actuator Market Analysis

Market players are engaged in innovating valve actuators. For example, in February 2021, Siemens 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 they utilize feedback signals to the controlling device to create a closed-loop design.

According to Bennett University's blog in May 2022, micro-electromechanical systems (MEMS) will use actuators to combine mechanical and electrical components in micrometer or millimeter-sized integrated devices or systems. These devices or systems can sense physical stimulus, control a process or system and actuate or drive micro or mega-scale devices. In addition, with the integration of IoT, many sensors and actuators are required for constant monitoring of these devices. Hence, there will be a large requirement for small, low-powered, wireless sensors and smart actuators in the upcoming years, which will drive the Valve Actuator Market during the forecast period.

Valve Actuator Market Overview

An actuator is a component of a device or system that converts energy (generally electrical, air, or hydraulic) into mechanical force. A valve actuator is a component that actuates or moves a valve open or closed. Valve actuators are used in various process plants for the automation of flow control processes. In process control applications, valves regulate fluid flow by opening, shutting, or partially obstructing the fluid flow while managing the pressure. Chemical, mining, oil & gas, power generation, wastewater, and LNG are among the major end users of valve actuators, wherein they are used to control and automate processes. The Valve Actuator Market growth is attributed to factors such as the automation of manufacturing processes, government investments in renewable energy, and flourishment of the oil & gas industry. In addition, the launch of water and wastewater plant construction projects would further drive the market in the coming years.

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Valve Actuator Market: Strategic Insights

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Valve Actuator Market Drivers and Opportunities

Growth of Oil & Gas Industry to Favor Market

• The oil & gas industry has played a significant role in this industrial revolution and the economic transformation of the world. The major factor driving the evolution of this industry is the growing demand for heat, mobility, and light worldwide, owing to the rapidly growing population.
• The oil & gas industry accounted for the largest share of global consumption of energy resources. Natural gas is estimated to be the fastest-growing fossil fuel used in the coming years. Globally, the new oil supplies are expected to add continually to cater to the increase in energy demand. Per the International Energy Agency (IEA), the worldwide oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, with a significant requirement from the petrochemical and aviation divisions.

Increasing Focus on Renewable Energy Sector

• There is a rise in a shift from fossil fuels to renewable energy to lower emission levels and address the climate crisis. In addition, the adoption of renewable energy results in the reduction of the overall cost needed for power generation. Government spending plays a pivotal role in the rapid progression of clean energy investment and the expansion of clean technology supply chains.
• According to the latest update of the International Energy Agency's (IEA's) Government Energy Spending Tracker, the amount of money allocated by governments to support investments in clean energy since 2020 has increased to US$ 1.34 trillion. Direct incentives for manufacturers aimed at bolstering domestic manufacturing of clean energy technologies total ~US$ 90 billion. Such a rise in investment results in the launch of new renewable energy projects that demand valve actuators for an efficient working environment.

Valve Actuator Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Valve Actuator Market analysis are deployment, end user, application, and type.

• Based on end-user, the market is divided into mining, LNG, chemical, oil & gas, water and wastewater, and others. The oil and gas segment held the largest share of the Valve Actuator Market in 2023. Processes involving valve automation make use of linear valve actuators. These actuators make sure that flow and pressure control are within predetermined bounds. To remotely open and close pipeline valves, the oil & gas industry uses electric linear actuators to regulate valve pressure.
• Based on product type, the market is categorized into electrical, manual, hydraulic, and pneumatic. The electrical segment held the largest share of the Valve Actuator Market in 2023. An electric actuator uses an electric motor to generate torque, which is used to operate a valve. It uses less energy and is nontoxic and quiet. It offers lesser chances of leaks compared to other types of actuators. Electric actuators offer the highest accurate control positioning. They can be networked and reprogrammed quickly and offer immediate feedback for diagnostics and maintenance. These actuators are widely used and are in demand in various industries, including oil & gas and food & beverages, as they increase the automation capabilities of these industries.

Valve Actuator Market Share Analysis by Geography

• The Valve Actuator Market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. North America held the largest Valve Actuator Market share in 2023. In terms of market share, Europe, Asia Pacific, and the Middle East & Africa held second, third, and fourth place, respectively, in 2023.
• The market in North America is segmented into the US, Canada, and Mexico. According to the US Environmental Protection Agency, wastewater treatment facilities in the US process ~34 billion gallons of wastewater every day. An estimated 14,748 public-owned water treatment plants in this country provide wastewater collection, treatment, and disposal services to 238.2 million people. Valve actuators play a pivotal role in wastewater treatment plants for controlling the flow of water throughout the treatment process.

Valve Actuator Market News and Recent Developments

The Valve Actuator Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the Valve Actuator Market:

• In 2021, Flowserve Corp launched the FlowSync Bluetooth Actuator App deployed with Limitorque electric actuators for delivering reliable valve control in a variety of applications. The cross-platform mobile application provides plant operators with a smarter way to commission, monitor, control, and update actuators safely and conveniently. (Source: Flowserve, Press Release, 2021)
• In 2024, Emerson Electric Co launched a new eco-friendly electric valve actuator used for ensuring accurate process control in adverse conditions. This eco-friendly electric valve actuator performs accurately and reliably under the extreme conditions found in many heavy industries, particularly oil and gas installations in cold, remote locations. These actuator/valve assemblies increase uptime, improve performance, and reduce the risk of emissions posed by gas-operated systems locations. (Source: Emerson Electric Co, Press Release, 2024)
• In 2023, KSB SE & Co. KGaA launched a new generation of pneumatic 90° quarter-turn actuators. The double-acting and single-acting pneumatic actuators of the ACTAIR EVO and DYNACTAIR EVO type series are designed for actuating all types of part-turn valves, such as butterfly valves, ball valves, and plug valves. (Source: KSB SE & Co. KGaA, Press Release)

Valve Actuator Market Regional Insights

The regional trends and factors influencing the Valve Actuator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Valve Actuator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Valve Actuator Market Report Scope

Valve Actuator Market Players Density: Understanding Its Impact on Business Dynamics

The Valve Actuator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Valve Actuator Market are:

1. Cegedim SA
2. Emerson Electric Co
3. Schlumberger NV
4. Alfa Laval AB
5. Flowserve Corp

Disclaimer: The companies listed above are not ranked in any particular order.

Valve Actuator Market Report Coverage and Deliverables

The "Valve Actuator Market Size and Forecast (2021-2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles