According to our latest study on "Valve Actuator Market Size and Forecast (2021-2031), Global and Regional Share, Trend, and Growth Opportunity Analysis - by End-User, Product Type, and Geography," the Valve actuator market size 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.
Advent of Industry 4.0 to Drive Valve Actuator Market Growth During Forecast Period
With respect to automation and intelligent manufacturing, Industry 4.0 is crucial to the broad expansion of various sectors. Over the years, Industry 4.0 has developed, leading to smarter manufacturing and better final products in terms of efficiency and quality. By introducing the Internet of Things (IoT) and information and communication technologies (ICT), Industry 4.0 brings more industrial axes of motion. Through the use of intelligent sensors and actuators, the digital and physical worlds interact.
Industry 4.0 is characterized by bringing automation into the industrial sector and incorporating smart technologies. It is transforming how companies manufacture, process, and distribute their products. It is focused on improving product quality by minimizing the risk of human error and posing a safe environment. Due to the rise of Industry 4.0, the governments of various countries are investing to boost automation in the manufacturing industry. For example, in January 2021, the US President announced the plan to strengthen the US manufacturing sector under the" Made in America" initiative, which focused on making technologically advanced and automated manufacturing sectors. He announced an investment of US$ 300 billion for the manufacturing sector to boost the country's production output. Moreover, in November 2022, the US Department of Energy (DoE) announced a funding of US$ 2 million, in partnership with the Clean Energy Smart Manufacturing Innovation Institute (CESMII), to help manufacturers adopt smart manufacturing technologies and processes that will increase productivity, save energy, and boost competitiveness across energy-intensive industries.
Therefore, the advent of Industry 4.0 boosted the adoption of various robotics solutions in the manufacturing and industrial sectors where the actuators play a very crucial role for the linear or rotary movements in automated solutions. Actuators generate the forces that robots employ to move themselves and other objects. Valve actuators are widely used in a multitude of manufacturing process control systems. They help in the opening and closing of a valve where the flow of materials (liquid, gases, or solid) is required. Thus, the rise in automation in various industries, such as food & beverages, oil and gas, and automotive, fosters the demand for valve actuators and fuels the valve actuator market growth worldwide.
Key Findings of Actuator Market Study:
Based on end-user the market is divided onto mining, LNG, chemical, oil & gas, water and wastewater and others.. The LNG segment held significant valve actuator market share in 2023. LNG, or liquefied natural gas, is becoming a more significant component of the world's energy mix. According to the International Energy Agency (IEA), in 2024, global gas demand is forecast to increase by 2.5%, or 100 billion cubic meters (bcm), compared to 2023. In addition, LNG supplies are expected to grow by 3.5% this year. For crucial LNG industry applications that guarantee safety, maximize plant uptime, and optimize operational efficiency, plants require appropriate products. The extraction, processing, and transport of LNG (both in pipelines and LNG carriers) safely and reliably is essential, where flow control plays a huge role. Thus, the growing LNG industry is expected to contribute to the demand for valve actuators, as they ensure effective flow control throughout the process, from liquefaction and extraction to regasification.
In the mining industry, valve actuators are used in dewatering, dust suppression, ventilation, and cooling applications, as well as pumping stations. Value actuators are used above ground in slurry pipelines, metallurgical froth flotation, and the separation, refining, and smelting of copper, zinc, and lead. They are used to control the flow of water through pipes and help ensure that the water pressure is regulated and the temperature does not get too high. These valve actuators are designed to withstand the harsh and demanding conditions typically found in mining operations, including high pressure, high temperature, corrosion, and abrasion. Thus, the wide application of valve actuators in the mining industry fuels market growth.
The report includes valve actuator market forecast by end-use, product type, regions, and countries from 2021 to 2031. The geographic scope of the valve actuator market report focuses encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Further, the valve actuator market report includes company positioning and concentration to evaluate the performance of competitors/players in the market.
The Asia Pacific valve actuator market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. As per the Gas Report published by the International Energy Agency in 2020, the worldwide trade of LNG is expected to reach 585 billion cubic meters/year by 2025, with an increase of 21% compared to 2019. The expansion of LNG imports, led by China and India, has been contributing to the growth of the gas market in Asian countries. Burgeoning investments in the oil and gas sector further propel oil and gas production. As per the Shell LNG Outlook 2021, the global LNG demand is expected to reach 700 million tons by 2040, and the demand for natural gas continues to grow strongly in Asia Pacific countries, generating the need for gas production. Valve actuators are widely used to control the flow of oil in refineries, processing plants, and other related facilities.
China held significant valve actuator market share in 2022. According to the US Energy Information Administration, in 2021, China was the world's leading energy producer and consumer, with primary energy production increasing by more than 6%, leading to a rise in overall energy production from all sources. Nuclear (11%), renewables (9%), and natural gas (8%) are the fastest rising energy sources year after year. Energy consumption increased by ~6%, with the highest growth in natural gas (12%), followed by nuclear (11%) and renewables (8%). In 2022, nonfossil fuels accounted for 49% of total installed electricity generation capacity, including hydropower (16%), solar (15%), and wind (14%). Higher crude oil and condensate output in 2022 led to total petroleum and other liquids production of 5.1 million barrels per day. Valve actuators have various applications in energy and power generation; in renewable energy production, it is used to regulate and help create motion in the solar tracking system as well as minimize energy waste in opening and closing the mechanism in wind turbines. Thus, the growing energy and power production across the country propelled the growth of the valve actuator market in the country.
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