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The Marine Actuators and Valves Market size was valued at USD 3.09 billion in 2023 and is expected to reach USD 5.05 billion by 2032 with a growing CAGR of 5.6% over the forecast period 2024-2032.
The global marine actuators and valves market is expanding rapidly as a result of increased marine trade activity. The valve control mechanism that operates the flow through a valve is enabled by marine actuators and valves. Marine valves are used in ships to control the flow of liquids through the piping and machinery systems. Marine actuators are valve control systems that can be used in a marine vessel to convert various forms of energy into mechanical motion to open or close valves. Marine actuators and valves are used in a variety of marine systems, including the safety system, the auxiliary system, and the navigation system.
MARKET DYNAMICS
KEY DRIVERS
Increase in seaborne trade necessitates a larger fleet of merchant ships.
Global Navies' Priority is to Purchase Advanced Vessels
RESTRAINTS
The development and implementation of stringent regulatory standards that must be met by valve and actuator manufacturers.
OPPORTUNITIES
Technological advancements would increase demand for actuators in a variety of marine vessel applications.
Lightweight and durable valves are being introduced, and the use of inland waterways is increasing.
CHALLENGES
Actuators and Valves Have Power Consumption, Noise, and Leakage Problems
THE IMPACT OF COVID-19
Manufacturers of marine actuators and valves have been forced to shut down their operations due to supply chain disruption caused by the government's lockdown imposed to slow the spread of COVID-19.
Installation and upgrade of marine actuators and valves are hampered as a result of the global lockdown imposed in the aftermath of the COVID-19 pandemic.
Ship builders are experiencing short-term operational issues as a result of a lack of marine actuator and valve supply caused by transportation restrictions imposed by authorities to control the COVID-19 outbreak.
Due to worldwide travel bans, marine tourism and trade have come to a halt.
Ukraine-Russia War Impact on Market.
The transportation and logistics industry has been severely impacted by the conflict between Russia and Ukraine. The disruption of trade routes caused by blockades in the Black Sea and other shipping routes has resulted in a drop in demand for shipping via seaways. With major shipping companies suspending services to and from Russia, demand for marine engines in both countries is expected to fall.
Water treatment plants, heat ex-changers, fuel tanks, water separation systems, boilers, air dampers, super-heater, turbines, condensers, generators, and steering's are examples of fuel and propulsion systems. For the various fuel and propulsion systems mentioned above, marine actuators and marine valves are required. As shipbuilding in the Asia Pacific region expands, so will demand for marine actuators and marine valves for fuel and propulsion system applications. The selection of these marine actuators and marine valves is determined by the application and function to be performed, marine actuators are key components of the steering systems installed in marine vessels.
The marine actuators and valves market is divided into stainless steel, alloy-based, aluminium, and others. During the forecast period, the alloy-based segment is expected to grow at the fastest CAGR. Manufacturers are using these alloys for marine applications because they are very versatile and have excellent corrosion resistance in marine atmospheres and seawater. Because of their corrosion resistance, durability, and thermal conductivity, they are used sub-sea and have applications such as valve actuators, propellers, piping, and heat ex-changer tubing, which will drive demand for marine actuators and valves.
By Application
Fire Fighting System
Portable Water System
Fuel & Propulsion System
Refrigeration System
Liquid Cargo System
Others
By End User
OEM
Aftermarket
By Mechanism
Pneumatic
Hydraulic
Electric
Mechanical
Hybrid
By Product
Valves
By Material
Stainless Steel
Aluminum
Alloy Based
Others
REGIONAL ANALYSIS
According to region, Europe is expected to grow at a significant rate during the forecast period due to an increase in commercial vessel deliveries such as ferries, yachts, containers, and bulk carriers, among others. The European shipbuilding industry builds complex marine vessels such as cruise ships, ferries, yachts, submarines, and dredgers and has a strong international market position.
Furthermore, the European marine equipment industry provides a diverse range of products and ship components such as propulsion systems, diesel engines, environmental safety systems, cargo handling systems, and related electronic products. The expansion of Europe's shipbuilding industry is one of the most important factors driving the region's marine actuator and marine valves market.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Rotork, Emerson, Rockwell Automation, Woodward, Burkert Fluid Control Systems, Flowserve Corporation, Wartsila, Moog, Honeywell, Curtiss-Wright Corporation, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 3.09 Billion |
| Market Size by 2032 | USD 5.05 Billion |
| CAGR | CAGR of 5.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Fire Fighting System, Portable Water System, Fuel & Propulsion System, Refrigeration System, Liquid Cargo System and Others) • By End User (OEM, Aftermarket) • By Mechanism (Pneumatic, Hydraulic, Electric, Mechanical, Hybrid) • By Product (Actuators, Valves) • By Material (Stainless Steel, Aluminum, Alloy Based and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Rotork , Emerson, Rockwell Automation, Woodward, Burkert Fluid Control Systems, Flowserve Corporation, Wartsila, Moog, Honeywell, Curtiss-Wright Corporation, and other players. |
| DRIVERS | • Increase in seaborne trade necessitates a larger fleet of merchant ships. • Global Navies' Priority is to Purchase Advanced Vessels |
| RESTRAINTS | • The development and implementation of stringent regulatory standards that must be met by valve and actuator manufacturers. |
Manufacturers/Service providers, Consultants, Association, Research institutes, private and universities libraries, Suppliers, and Distributors of the product.
The marine actuator and valves market in Europe is projected to grow at a significant CAGR from 2022 to 2028.
Lightweight and durable valves are being introduced, Technological advancements would increase demand for actuators in a variety of marine vessel applications.
The transportation and logistics industry has been severely impacted and The disruption of trade routes caused by blockades in the Black Sea and other shipping routes has resulted in a drop in demand for shipping via seaways.
The Marine Actuators and Valves Market was valued at USD 3.09 billion in 2023 and is expected to reach USD 5.05 billion by 2032 with CAGR of 5.6% over the forecast period 2024-2032.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Marine Actuators and Valves Market Segmentation, by Application
8.1 Fire Fighting System
8.2 Portable Water System
8.3 Fuel & Propulsion System
8.4 Refrigeration System
8.5 Liquid Cargo System
8.6 Others
9. Marine Actuators and Valves Market Segmentation, by End User
9.1 OEM
9.2 Aftermarket
10. Marine Actuators and Valves Market Segmentation, by Mechanism
10.1 Pneumatic
10.2 Hydraulic
10.3 Electric
10.4 Mechanical
10.5 Hybrid
11.Marine Actuators and Valves Market Segmentation, by Product
11.1 Actuators
11.2 Valves
12.Marine Actuators and Valves Market Segmentation, by Material
12.1 Stainless Steel
12.2 Aluminum
12.3 Alloy Based
12.4 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Rotork
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Emerson
14.3 Rockwell Automation
14.4 Woodward
14.5 Burkert Fluid Control Systems
14.6 Flowserve Corporation
14.7 Wartsila
14.8 Moog
14.9 Honeywell
14.10 Curtiss-Wright Corporation
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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