Marine Actuators and Valves Market Report Scope & Overview:

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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.

KEY MARKET SEGMENTATION

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

• Actuators

• 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

KEY PLAYERS

The Major Players are Rotork, Emerson, Rockwell  Automation, Woodward, Burkert Fluid Control Systems, Flowserve Corporation, Wartsila, Moog, Honeywell, Curtiss-Wright Corporation, and other players.