Marine actuators and valves are critical components used in marine systems and machinery to control the flow of fluids such as water, fuel or air. Actuators are devices that convert energy into motion, allowing them to open or close valves or move other mechanical components. Valves, on the other hand, are devices that regulate, direct or control the flow of fluids by opening, closing or partially obstructing passageways. These components are vital for maintaining the safe and efficient operation of various marine systems, including propulsion, steering and fluid transfer systems.
The marine actuators and valves market consists of sales, by entities (organizations, sole traders and partnerships), of marine actuators and valves that include components specifically designed for use in marine applications.
The global marine actuators and valves market was valued at $2,940.0 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Increase In Seaborne Trade
The increase in global seaborne trade drove the growth of the marine actuators and valves market. Seaborne trade refers to transporting goods by sea between different countries or regions and measures the dispatched goods and loaded goods. Marine actuators and valves play a crucial role in ships' safe and efficient operation by regulating the pressure flow of fluids in different kinds of systems on ships and converting energy into control motion to stop or hold any object on the ship. According to United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based trade and development organization, the global seaborne trade increased by 3.2% in 2021, with shipments reaching a value of 11.0 billion tons, respectively. Further, according to Maritime Transport 2021 report by the United Nations Conference on Trade and Development (UNCTAD), the global commercial shipping fleet, which includes bulk carriers, oil tankers, container ships, general cargo ships and other types of ships, reached 2,134,640 (thousand dead-weight tons) in 2021, an increase of 3.04% from 2,071,638 in 2020. Therefore, increase in global seaborne trade supported the growth of the marine actuators and valves market.
Use Of Analytics Technologies In Marine Actuators And Valves
Companies in the marine actuators and valves markets are focusing on developing analytic solutions to enhance predictive maintenance and streamline operations for better efficiency and reliability of actuators and valves used in maritime applications. These advanced analytics solutions entail integrating advanced data analytics and AI-driven technologies for optimized performance in maritime systems. For instance, in January 2021, Rotork PLC, a UK-based manufacturer of electric, pneumatic and hydraulic valve actuators and gearboxes, launched Intelligent Asset Management, a cloud-based asset management system for intelligent actuators and the flow control equipment they operate. It is a system of advanced analytics to improve the reliability and availability of key assets (such as valves) across all industries that use flow control processes.
The global marine actuators and valves market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 30.2% of the total market in 2022.
Marine Actuators And Valves Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global marine actuators and valves market as it emerges from the COVID-19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for marine actuators and valves? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The marine actuators and valves market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider marine actuators and valves market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by material, by mechanism, by application and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the marine actuators and valves market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by material, by mechanism, by application and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for marine actuators and valves providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Valves; Actuators
- 2) By Application: Defense; Commercial
- 3) By End User: Original Equipment Manufacturer (OEM); Aftermarket
- 4) By Material: Stainless Steel; Aluminum; Alloy-Based; Other Materials
- 5) By Mechanism: Pneumatic; Hydraulic; Electric; Hybrid; Mechanical; Manual
- Companies Mentioned: Honeywell International Inc.; Weir Group PLC; Schlumberger NV; Emerson Electric Co.; Rotork plc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; marine actuators and valves indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.