This report describes and explains the marine actuators and valves market and covers 2018-2023, termed the historic period and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global marine actuators and valves market reached a value of nearly $3.48 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.4% since 2018. The market is expected to grow from $3.48 billion in 2023 to $4.44 billion in 2028 at a rate of 5%. The market is then expected to grow at a CAGR of 5.5% from 2028 and reach $5.81 billion in 2033.
Growth in the historic period resulted from the increase in seaborne trade, increasing adoption of cloud-based marine management solutions, increase in industrial manufacturing and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include volatile raw material prices.
Going forward, the increasing defense expenditure, growth in shipbuilding activities, increasing construction of new ports and rising urbanization will drive the market. Factors that could hinder the growth of the marine actuators and valves market in the future include stringent laws and regulations.
The marine actuators and valves market is segmented by product into valves and actuators. The valves market was the largest segment of the marine actuators and valves market segmented by product, accounting for 78.5% or $2.73 billion of the total in 2023. Going forward, the actuators segment is expected to be the fastest growing segment in the marine actuators and valves market segmented by product, at a CAGR of 5.2% during 2023-2028.
The marine actuators and valves market is segmented by application into defense and commercial. The commercial market was the largest segment of the marine actuators and valves market segmented by application, accounting for 75% or $2.61 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by application, at a CAGR of 5.1% during 2023-2028.
The marine actuators and valves market is segmented by end user into original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer (OEM) market was the largest segment of the marine actuators and valves market segmented by end user, accounting for 63.7% or $2.21 billion of the total in 2023. Going forward, the aftermarket segment is expected to be the fastest growing segment in the marine actuators and valves market segmented by end user, at a CAGR of 5.4% during 2023-2028.
The marine actuators and valves market is segmented by material into stainless steel, aluminum, alloy-based and other materials. The stainless steel market was the largest segment of the marine actuators and valves market segmented by material, accounting for 59.9% or $2.08 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by material, at a CAGR of 5.3% during 2023-2028.
The marine actuators and valves market is segmented by mechanism into pneumatic, hydraulic, electric, hybrid, mechanical and manual. The electric market was the largest segment of the marine actuators and valves market segmented by mechanism, accounting for 33.3% or $249.1 million of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by mechanism, at a CAGR of 6% during 2023-2028.
Asia-Pacific was the largest region in the marine actuators and valves market, accounting for 39.3% or $1.36 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the marine actuators and valves market will be Asia-Pacific and Western Europe, where growth will be at CAGRs of 5.5% and 5.1% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 4.8% and 4.5% respectively.
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. Honeywell International Inc. was the largest competitor with an 8.5% share of the market, followed by Weir Group PLC with 8.2%, Schlumberger NV with 3.5%, Emerson Electric Co. with 3.3%, Rotork plc with 1.8%, Flowserve Corporation with 1.6%, KITZ Corporation with 1.4%, Moog Inc. with 0.7%, IMI Plc. with 0.6% and Samson AG with 0.5%.
The top opportunities in the marine actuators and valves market segmented by product will arise in the valves segment, which will gain $750.6 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by application will arise in the commercial segment, which will gain $742.2 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by end user will arise in the original equipment manufacturer (OEM) segment, which will gain $585.8 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by material will arise in the stainless steel segment, which will gain $610.8 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by mechanism will arise in the electric segment, which will gain $84.8 million of global annual sales by 2028. The marine actuators and valves market size will gain the most in China at $262.1 million.
Market-trend-based strategies for the marine actuators and valves market include use of analytics technologies in marine actuators and valves, focus on advanced product development to drive performance enhancement, adoption of digitalization and mobile technology and introduction of next-generation pneumatic actuators for industrial valve automation.
Player-adopted strategies in the marine actuators and valves market include expanding business expertise through strategic acquisitions, expanding manufacturing capabilities through new product developments and enhancing business capabilities through new product launches.
To take advantage of the opportunities, the analyst recommends the marine actuators and valves companies to focus on enhancing analytics solutions for predictive maintenance, focus on product innovation for enhanced performance, focus on leveraging mobile technology for operational efficiency, focus on innovation in next-generation pneumatic actuators, focus on valves segment growth, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels, focus on strategic pricing for marine actuators and valves, participate in industry-specific trade shows, conferences and exhibitions, continue to use B2B promotions, focus on targeting aftermarket end-users and focus on commercial segment.
The global marine actuators and valves market reached a value of nearly $3.48 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.4% since 2018. The market is expected to grow from $3.48 billion in 2023 to $4.44 billion in 2028 at a rate of 5%. The market is then expected to grow at a CAGR of 5.5% from 2028 and reach $5.81 billion in 2033.
Growth in the historic period resulted from the increase in seaborne trade, increasing adoption of cloud-based marine management solutions, increase in industrial manufacturing and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include volatile raw material prices.
Going forward, the increasing defense expenditure, growth in shipbuilding activities, increasing construction of new ports and rising urbanization will drive the market. Factors that could hinder the growth of the marine actuators and valves market in the future include stringent laws and regulations.
The marine actuators and valves market is segmented by product into valves and actuators. The valves market was the largest segment of the marine actuators and valves market segmented by product, accounting for 78.5% or $2.73 billion of the total in 2023. Going forward, the actuators segment is expected to be the fastest growing segment in the marine actuators and valves market segmented by product, at a CAGR of 5.2% during 2023-2028.
The marine actuators and valves market is segmented by application into defense and commercial. The commercial market was the largest segment of the marine actuators and valves market segmented by application, accounting for 75% or $2.61 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by application, at a CAGR of 5.1% during 2023-2028.
The marine actuators and valves market is segmented by end user into original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer (OEM) market was the largest segment of the marine actuators and valves market segmented by end user, accounting for 63.7% or $2.21 billion of the total in 2023. Going forward, the aftermarket segment is expected to be the fastest growing segment in the marine actuators and valves market segmented by end user, at a CAGR of 5.4% during 2023-2028.
The marine actuators and valves market is segmented by material into stainless steel, aluminum, alloy-based and other materials. The stainless steel market was the largest segment of the marine actuators and valves market segmented by material, accounting for 59.9% or $2.08 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by material, at a CAGR of 5.3% during 2023-2028.
The marine actuators and valves market is segmented by mechanism into pneumatic, hydraulic, electric, hybrid, mechanical and manual. The electric market was the largest segment of the marine actuators and valves market segmented by mechanism, accounting for 33.3% or $249.1 million of the total in 2023. Going forward, it is expected to be the fastest growing segment in the marine actuators and valves market segmented by mechanism, at a CAGR of 6% during 2023-2028.
Asia-Pacific was the largest region in the marine actuators and valves market, accounting for 39.3% or $1.36 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the marine actuators and valves market will be Asia-Pacific and Western Europe, where growth will be at CAGRs of 5.5% and 5.1% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 4.8% and 4.5% respectively.
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. Honeywell International Inc. was the largest competitor with an 8.5% share of the market, followed by Weir Group PLC with 8.2%, Schlumberger NV with 3.5%, Emerson Electric Co. with 3.3%, Rotork plc with 1.8%, Flowserve Corporation with 1.6%, KITZ Corporation with 1.4%, Moog Inc. with 0.7%, IMI Plc. with 0.6% and Samson AG with 0.5%.
The top opportunities in the marine actuators and valves market segmented by product will arise in the valves segment, which will gain $750.6 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by application will arise in the commercial segment, which will gain $742.2 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by end user will arise in the original equipment manufacturer (OEM) segment, which will gain $585.8 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by material will arise in the stainless steel segment, which will gain $610.8 million of global annual sales by 2028. The top opportunities in the marine actuators and valves market segmented by mechanism will arise in the electric segment, which will gain $84.8 million of global annual sales by 2028. The marine actuators and valves market size will gain the most in China at $262.1 million.
Market-trend-based strategies for the marine actuators and valves market include use of analytics technologies in marine actuators and valves, focus on advanced product development to drive performance enhancement, adoption of digitalization and mobile technology and introduction of next-generation pneumatic actuators for industrial valve automation.
Player-adopted strategies in the marine actuators and valves market include expanding business expertise through strategic acquisitions, expanding manufacturing capabilities through new product developments and enhancing business capabilities through new product launches.
To take advantage of the opportunities, the analyst recommends the marine actuators and valves companies to focus on enhancing analytics solutions for predictive maintenance, focus on product innovation for enhanced performance, focus on leveraging mobile technology for operational efficiency, focus on innovation in next-generation pneumatic actuators, focus on valves segment growth, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels, focus on strategic pricing for marine actuators and valves, participate in industry-specific trade shows, conferences and exhibitions, continue to use B2B promotions, focus on targeting aftermarket end-users and focus on commercial segment.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Marine Actuators and Valves Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global Marine Actuators and Valves Market Segmentation
11 Marine Actuators and Valves Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Marine Actuators and Valves Market, Conclusions and Recommendations
25 Appendix
Executive Summary
Marine Actuators and Valves Global Market Opportunities and Strategies to 2033 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.
Description
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 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; Actuators2) 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
Key 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 Segmentation: 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.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Honeywell International Inc.
- Weir Group PLC
- Schlumberger NV
- Emerson Electric Co.
- Rotork plc.
- Flowserve Corporation
- KITZ Corporation
- Moog Inc.
- IMI Plc.
- Samson AG
- Astrotech Equipments Private Limited
- Kendrion
- Sumitomo Heavy Industries, Ltd.
- Hitachi Ltd.
- Kirloskar Brothers Limited
- RFS Valve
- SMC Corporation
- Cowan Dynamics Inc
- AUMA
- Domestic Marine
- Burkert Fluid Control Systems
- AVK Holding A/S
- Bosch Rexroth AG
- KSB SE & Co. KGaA
- Armatura Group
- Ares Group
- ZETKAMA S.A
- Fairbanks Morse Defense
- Hunt Valves
- Schlumberger Limited
- Emerson
- Curtiss-Wright Corporation
- Rockwell Automation
- Diakont
- Wärtsilä
- PETROLCOM
- SVT GmbH
- Vectorflow Valves
- Golden Harbour
- SAMSON
- SWBM
- AVK Southern Africa
- Egytorc
- Valtec Ind. Co. Ltd
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 285 |
Published | July 2024 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 3.48 Billion |
Forecasted Market Value ( USD | $ 5.81 Billion |
Compound Annual Growth Rate | 5.3% |
Regions Covered | Global |