Impact Analysis of Covid-19

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Market Insight- Global Marine Actuators and Valves Market

Market Overview

Marine valves are used to control, guide, direct, and regulate the flow of different types of liquids, steam, gases, any flowing agent such as mill and grain. Different types of valves are used depending on the customized application. Some of the commonly used valves are gate, globe, angle, butterfly, ball plug valves, etc. These valves are made from bronze, iron, steel, or PVC have the capabilities to high-end pressure and temperature. Furthermore, actuators are attached to valves for monitoring of pressure and flows, where two values are required to match. There are different types of actuators including pneumatic, hydraulic, electrical, mechanical, hybrid, manual actuator, etc.

The global marine actuators and valves market is estimated to account for US$ 3.13 Bn in terms of value in 2019 and is expected to grow at a CAGR of 5.9% during the forecasted period 2019-27.

Market Dynamics- Drivers

  1. Rapid globalization due to increasing international trade is expected to drive growth of the global marine actuators and valves market during the forecast period

Rampant globalization in the last 50 years has led to increase in international trade and culture exchange. Shipping has now become the most favored mode of transportation, owing to low-cost and carbon-efficiency as compared to other modes of transportations. As a result of this, total number of dry cargo vessels, tankers, bulk carriers, and service vessels has increased significantly, which has played a crucial role in seaborne trade. Moreover, rise in total vessels has increased the total number of valves and actuators that control the operation of the ships. Thus, these factors are expected to drive growth of the market during the forecast period. According to the United Nations Conference on Trade and Development (UNCTAD), around 80% of global trade by volume and 70% by value is carried by sea. According to the same source, global commercial fleet comprised of around 90,000 vessels in 2015.

  1. High demand for technologically advanced valves in the marine sector is expected to propel the global marine actuators and valves market growth over the forecast period

Increasing demand for innovative products that offer enhanced performance and reliability along with minimized environmental impact is boosting the demand for new technologies. In marine sector, actuators control valves that control everything that happens in ship. These actuators and valves are subjected to severe operating environment including salt spray, temperature, vibrations, and chemical pollution. There is a high demand for actuators and valves that can withstand these conditions, comply with strict regulatory policies, and are durable, low-maintenance, and power-efficient. Thus, these factors are expected to support growth of the global marine actuators and valves market growth over the forecast period.

Asia Pacific region dominated the global marine actuators and valves market in 2019, accounting for 42.1% share in terms of value, followed by North America and Europe respectively.

Marine Actuators and Valves  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraint

  1. Low energy efficiency of pneumatic actuators is expected to hamper the global marine actuators and valves market growth over the forecast period

Pneumatic actuator systems frequently waste energy by supplying higher pressure than actuator needs. Furthermore, the loss of fluid in pneumatic actuators leads to loss of efficiency. The cost of electricity for pneumatic actuators is US$ 0.10 kilowatt-hour. Moreover, pressure losses and compressibility make pneumatic actuators less efficient than other linear-motion methods. As a result of this, pneumatic actuators consume a vast amount of electricity, making users reluctant to adopt these types of actuators. Hence, these factors are expected to hamper the global marine actuator and valves market growth over the forecast period.

  1. Presence of stringent regulatory policies are expected to restrain growth of the global marine actuators and valves market during the forecast period

Since marine actuators and valves are always subjected to harsh environments such as vibration, temperature, and salt spray, it is crucial for these components to comply with regulatory policies. Many vendors are focused on meeting these norms, however, it becomes challenging for small and middle-sized organizations to comply with these policies due to low profit-margin. Thus, these factors are expected to restrain growth of the market in the near future.

Market Opportunities

  1. Increasing investments in the oil and gas sector can present lucrative growth opportunities

Increased growth of the oil and gas industry due to its increased production and consumption levels worldwide has developed the marine transport that carries them from and to the exported and importing countries. Marine transport, being low cost and environment friendly is globally preferred which adds to the number of tankers, special purpose vessels, off-shore vessels and service vessels that are ideal for oil and gas. According to UNCTAD, the volume of gas and oil in seaborne trade accounted for 1,444 billion ton-miles and 12, 339 billion ton-miles in 2015.

  1. High growth in inland waterways is expected to provide major business opportunities

Over the years, the number of inland waterways has increased significantly, especially in developed countries. Since waterways offer rapid and cost-effective transportation, many countries are preferring the use of waterways for goods transportation. These countries are using canals, rivers, and lakes for transportation with adequate infrastructure of docks and harbors. Moreover, inland waterways are used for public transportation as well, thereby boosting the demand for marine actuators and valves.

Marine Actuators and Valves  | Coherent Market Insights

Source: Coherent Market Insights

In global marine actuators and valves market, by actuator segment pneumatic actuators sub-segment dominated the global marine actuators and valves market in 2019, accounting for 21.9% share in terms of value, followed by electric and hydraulic actuator.

Marine Actuators and Valves  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Growing preference for electric actuators over hydraulic actuators

Hydraulic actuator is being used for a long time in the marine sector owing to its low cost and high power density. However, these actuators are complex in terms of design that include oil tanks and filters. Moreover, there is a high risk of fluid leakage through it and consumes higher energy and requires timely maintenance. As a result of this, end users are gradually shifting towards an electric actuator system, which consists only of an actuator control and power connection. These actuators are increasingly used in marine sector both for indoor and outdoor purposes.

  1. Rising adoption of dry bulk carriers in marine transportation

Dry bulk carriers carry around 100,000 dead-weight tons (dwt) plus of material goods. Such bulk carriage leads to lower transportation costs, making international trade convenient and affordable. Growing global investments and an increase in the transportation of materials such as ore, coal, unpackaged cargo and cement are leading to increased use of dry bulk carriers which in turn, are increasing the total number of valves and actuators that are required for the efficient functioning of carriers. According to UNCTAD, in 2015 bulk carriers accounted for 43.5% share out of the total share for vessel types.

Competitive Section

Key companies involved in the global marine actuators and valves market are AVK Holding A/S, KITZ Corporation, Watts Water Technologies, Inc., Bürkert Fluid Control Systems, Tyco International Ltd., Emerson Electric Co, Schlumberger Limited, Shearwater GeoServices Holding AS,  Flowserve Corporation, Rotork Plc, and Honeywell International Inc.

Key Developments

  1. Key companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in April 2017, Emerson Electric Co acquired Pentair plc’s Valves and Control business for US$ 3.15 billion.
  2. Major players in the market are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in August 2018, Shearwater GeoServices Holding AS acquired Schlumberger Limited, a U.S.-based provider of international oilfield services.

Marine valves are a mechanical component that is used to control, regulate, direct, and guide the flow of various types of liquids such as steam, gases, liquids, and any flowing agents such as grain and mill. Some of the commonly used valves are gate, globe, angle, butterfly, ball plug valves, etc. These valves are made from bronze, iron, steel, or PVC have the capabilities to high-end pressure and temperature. Moreover, the actuator is attached to valves for monitoring of pressure and flows, where two values are required to match.

Market Dynamics

Rapid globalization due to increasing international trade is expected to drive the market during the forecasted period 2019-27. This is owing to rapid globalization in the last 50 years has led to increase in international trade and culture exchange. Shipping has now become the most favored mode of transportation, owing to low-cost and carbon-efficiency as compared to other modes of transportations. As a result of this, total number of dry cargo vessels, tankers, bulk carriers, and service vessels has increased significantly, which has played a crucial role in seaborne trade. For Instance, According to the United Nations Conference on Trade and Development (UNCTAD), around 80% of global trade by volume and 70% by value is carried by sea. According to the same source, global commercial fleet comprised of around 90,000 vessels in 2015. Moreover, high demand for technologically advanced valves in the marine sector is also the major factor driving the global marine actuator and valves market.

Market Taxonomy

This report segments the global marine actuators and valves market on the basis type actuator and valve. On the basis of actuator, pneumatic actuators, hydraulic actuators, manual actuators, electric actuators, mechanical actuators and hybrid actuators. On the basis of valves, Linear Motion Valves, Rotary Motion Valve, Specialty Valve and Self-Actuated Valve. On the basis of vessel type, passenger ships and ferries , dry cargo vessels, tankers, dry bulk carriers, special purpose vessels , service vessels, fishing vessels , off-shore vessels, yachts and others and by Geography North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global marine actuators and valves market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global marine actuators and valves market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies involved in the global marine actuators and valves market are AVK Holding A/S, KITZ Corporation, Watts Water Technologies, Inc., Bürkert Fluid Control Systems, Tyco International Ltd., Emerson Electric Co, Schlumberger Limited, Shearwater GeoServices Holding AS,  Flowserve Corporation, Rotork Plc, and Honeywell International Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global marine actuators and valves market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global marine actuators and valves market.

Detailed Segmentation:

  • Global Marine Actuators and Valves Market, By Type
    • Actuators
    • Valves
  • Global Marine Actuators and Valves Market, By Actuator
    • Pneumatic Actuators
    • Hydraulic Actuators
    • Manual Actuators
    • Electric Actuators
    • Mechanical Actuators
    • Hybrid Actuators
  • Global Marine Actuators and Valves Market, By Valve
    • Linear Motion Valves
    • Rotary Motion Valve
    • Specialty Valve
    • Self-Actuated Valve
  • Global Marine Actuators and Valves Market, By Vessel Type
    • Passenger Ships And Ferries
    • Dry Cargo Vessels
    • Tankers
    • Dry Bulk Carriers
    • Special Purpose Vessels
    • Service Vessels
    • Fishing Vessels
    • Off-Shore Vessels
    • Yachts
    • Others
  • Global Marine Actuators and Valves Market, By Geography:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • AVK Holding A/S*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • KITZ Corporation
    • Watts Water Technologies, Inc.
    • Bürkert Fluid Control Systems
    • Tyco International Ltd.
    • Emerson Electric Co
    • Schlumberger Limited
    • Shearwater GeoServices Holding AS
    • Flowserve Corporation
    • Rotork Plc
    • Honeywell International Inc.

*Browse all the market data tables and figures on "Global Marine Actuators and Valves Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Actuator
      • Market Snippet, By Valve
      • Market Snippet, By Vessel Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Marine Actuators and Valves Market, By Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Marine Actuators and Valves Market, By Actuator, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Pneumatic Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Hydraulic Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Manual Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Electric Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Mechanical Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Hybrid Actuators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Marine Actuators and Valves Market, By Valve, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Linear Motion Valves
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Rotary Motion Valve
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Specialty Valve
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Self-Actuated Valve
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Marine Actuators and Valves Market, By Vessel Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Passenger Ships And Ferries
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)  
    • Dry Cargo Vessels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Tankers
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Dry Bulk Carriers
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Special Purpose Vessels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Service Vessels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Fishing Vessels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Off-Shore Vessels
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Yachts
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  8. Global Marine Actuators and Valves Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Actuator, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Valve, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vessel Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Actuator, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Valve, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vessel Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Actuator, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Valve, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vessel Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Actuator, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Valve, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vessel Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Actuator, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Valve, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Vessel Type, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • AVK Holding A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • KITZ Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Watts Water Technologies, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bürkert Fluid Control Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tyco International Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Emerson Electric Co
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schlumberger Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Shearwater GeoServices Holding AS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Flowserve Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Rotork Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Marine Actuators and Valves Market - Global forecast to 2027”.

Frequently Asked Questions

This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
• By Type • By Actuator • By Valve • By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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