MARINE ACTUATORS AND VALVES MARKET ANALYSIS

1. Coherent Market InsightsMarket Research and Business Consulting Serviceshttps://www.coherentmarketinsights.comMARINE ACTUATORS AND VALVES MARKET ANALYSIS

2. 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.

3. Market Dynamics- Drivers 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. 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.

4. 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.

5. Market Dynamics- Restraint 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. 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.

6. Market Opportunities 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. 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.

7. 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.

8. Market Trends 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. 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.

9. 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.

10. Key Developments 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. 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.

11. Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/3724 Request Customization: https://www.coherentmarketinsights.com/insight/request-customization/3724 Download PDF Brochure: https://www.coherentmarketinsights.com/insight/request-pdf/3724 Talk to Analyst: https://www.coherentmarketinsights.com/insight/talk-to-analyst/3724 Reference: https://www.coherentmarketinsights.com/market-insight/marine-actuators-and-valves-market-3724

12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Customized Market Research Services Industry Analysis Services Business Consulting Services Market Intelligence Services Long term Engagement Model Country Specific Analysis

13. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

14. Thank You ! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/