What is Global Electric Valve Actuators Market?
The Global Electric Valve Actuators Market is a comprehensive study of the various aspects of the electric valve actuators industry on a global scale. Electric valve actuators are devices that are used to control the movement of valves, which are used to control the flow of liquids or gases. These devices are powered by electricity and can be operated remotely, making them ideal for use in a variety of industrial applications. The market for these devices is vast and varied, with numerous manufacturers and suppliers competing for a share of the market. The market is driven by a variety of factors, including the increasing demand for automation in various industries, the need for more efficient and reliable valve operation, and the growing emphasis on safety and environmental protection. However, the market also faces several challenges, such as the high cost of electric valve actuators and the need for regular maintenance and replacement. Despite these challenges, the market is expected to grow steadily over the forecast period, driven by the ongoing technological advancements and the increasing adoption of electric valve actuators in various industries.
Linear Electric Actuator, Multi-turn Electric Actuator, Quarter-turn Electric Actuator in the Global Electric Valve Actuators Market:
The Global Electric Valve Actuators Market is segmented into three main types: Linear Electric Actuator, Multi-turn Electric Actuator, and Quarter-turn Electric Actuator. The Linear Electric Actuator is designed to create motion in a straight line, and is commonly used in machine tools and industrial machinery. The Multi-turn Electric Actuator, on the other hand, is designed to rotate an object multiple times, and is commonly used in applications such as gate valves and globe valves. The Quarter-turn Electric Actuator is designed to rotate an object by a quarter of a turn, and is commonly used in applications such as ball valves and butterfly valves. Each of these types has its own unique features and advantages, and their usage varies depending on the specific requirements of the application. The market for these types of electric valve actuators is influenced by a variety of factors, including the type of application, the size and complexity of the system, and the specific requirements of the end-user.
Oil & Gas, General Industries, Power, Water, Other in the Global Electric Valve Actuators Market:
The Global Electric Valve Actuators Market finds usage in a variety of areas, including Oil & Gas, General Industries, Power, Water, and Other. In the Oil & Gas industry, electric valve actuators are used to control the flow of oil and gas in pipelines, refineries, and other facilities. In General Industries, these devices are used in a variety of applications, ranging from manufacturing processes to material handling. In the Power industry, electric valve actuators are used in power plants to control the flow of steam, water, and other fluids. In the Water industry, these devices are used in water treatment plants and distribution systems to control the flow of water. In Other industries, electric valve actuators are used in a variety of applications, depending on the specific requirements of the industry. The market for these devices in these areas is driven by a variety of factors, including the increasing demand for automation, the need for more efficient and reliable valve operation, and the growing emphasis on safety and environmental protection.
Global Electric Valve Actuators Market Outlook:
The Global Electric Valve Actuators Market outlook is quite promising. In 2022, the market was valued at US$ 2316.9 million. This figure is expected to rise to US$ 3122.4 million by 2029, representing a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period from 2023 to 2029. This growth is driven by a variety of factors, including the increasing demand for automation in various industries, the need for more efficient and reliable valve operation, and the growing emphasis on safety and environmental protection. However, the market also faces several challenges, such as the high cost of electric valve actuators and the need for regular maintenance and replacement. Despite these challenges, the market is expected to grow steadily over the forecast period, driven by the ongoing technological advancements and the increasing adoption of electric valve actuators in various industries.
| Report Metric | Details |
| Report Name | Electric Valve Actuators Market |
| Accounted market size in 2023 | US$ 2453.5 million |
| Forecasted market size in 2029 | US$ 3122.4 million |
| CAGR | 4.1 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Sales by Region |
|
| By Company | Rotork, Auma, Emerson, Flowserve, ABB, BERNARD, Chuanyi Automation, CDF, Schiebel, SAIC, Nihon Koso, Raga, Soupaishi Automation Technology, Koei Industry, Tomoe, Hengchun, PS Automation, Tefulong, Aotuo Ke |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
