Actuator is a piece of equipment which is responsible for the movement and controlling a system. It is usually referred to as a mover, as it regulates the movement of other components. It operates through a mechanism by a control system which acts on outer environment. The control system incorporated with the actuators can be a simple (an electronic or fixed mechanical), or it might be software-based, manual system, or any input.

A valve is a component which regulates, the flow of fluid by obstructing fluid passages. Technically, the valves are referred to as fittings which find applications in all kinds of fluid passages.

ACTUATORS AND VALVES MARKET DYNAMICS

Valves and Actuators are used in a wide range of industrial applications that require fluid flow control. The need for actuators and valves has increased as industrial automation operations have grown in many developing and industrialized economies. Oil and gas, pharmaceutical, and chemical industries are just a few of the major end-use industries that rely heavily on actuators and valves. The growing industrial sector will aid the expansion of the actuators and valves market, particularly in Asia Pacific and Europe's developing economies, such as China, India, Spain, Italy, and France. Furthermore, increased oil and gas exploration and refining operations in North America will propel the worldwide actuators and valves market forward throughout the forecast period.

Water treatment applications use a lot of actuators and valves. Over the last few years, the rapidly expanding demand for wastewater treatment has resulted in an increase in the need for actuators and valves. The global population explosion has increased the need for water. Despite the fact that many industrialized countries have well-established water treatment infrastructure, a lack of suitable infrastructure in developing economies will produce additional product demand in these countries throughout the anticipated years.

Due to the lack of common certifications and standards, valve manufacturers do not adhere to a single standard during the production process. Furthermore, the lack of product differentiation among producers constrains this market.

BY TYPE

The actuators market is divided into four types: manual, hydraulic, pneumatic, electric, and others. Throughout the projection period, the pneumatic actuators category is expected to have the largest market share. This is mostly owing to pneumatic actuators' ability to withstand overload pressure circumstances, as well as the product's excellent efficiency in fluid power applications. Ball valves, butterfly valves, diaphragm valves, globe valves, gate valves, and others make up the valves market. Due to their applications in fluid flows at high temperature and pressure, globe and ball valves are expected to have the greatest market share until the end of the projection period. These valves are mostly used in end-use sectors such as chemical, oil and gas, and pharmaceutical because of their advantages.

BY END-USE INDUSTRY

The actuators and valves market has been divided into oil & gas, chemical, mining, pharmaceutical, paper & pulp, and other end-use industries. Throughout the forecast period, the oil & gas and chemical end-use sectors are expected to have the largest share of the actuators and valves market. The expansion of the actuators and valves market will be accelerated by increased production of chemical compounds and materials, as well as increased refinery activities.

BY REGION

In 2017, the Asia Pacific actuators and valves market accounted for the biggest proportion of the global market. The increased demand from the oil and gas, as well as the chemical industries, can be linked to this. China, India, Indonesia, Malaysia, and Thailand are the countries involved. Rising refining activities in these countries are having a beneficial impact on the region's market growth.

COMPETITIVE LANDSCAPE

Rotork plc., Honeywell International Inc., AVK Holdings A/S, Flowserve Corporation, Schlumberger Limited, Kitz Corporation, Emerson Electric Co., and Tyco International Ltd. are among the leading competitors in the global actuators and valves market.