Dublin, April 19, 2023 (GLOBE NEWSWIRE) -- The "Marine Actuators and Valves Market by Platform (Commercial, Defense, Unmanned), Sales Channel (OEM, Aftermarket), Product (Actuator and Valve type), Design Characteristics, Material, Application, Component and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Marine Actuators and Valves market size is projected to grow from USD 2.8 Billion in 2022 to USD 3.6 Billion by 2027, at a CAGR of 5.3% from 2022 to 2027.
The increase in global commercial trade operations and the surge in fleet modernization in marine vessels are the primary factors driving the growth of the Marine Actuators and Valves market. Furthermore, the demand for advanced motion control systems onboard marine vessels is boosting the adoption of Marine Actuators and Valves.
The Rotary Actuators segment is expected to account for the largest share in 2022.
Based on Product type, for Actuators, the rotary actuators segment is projected to lead the Marine Actuators market during the forecast period. These actuators are highly popular for use on ships and other vessels owing to their compact size, ability to generate larger torques and little maintenance requirements. A rise in the number of vessel deliveries during the forecast period is set to drive the market for these actuators.
The Stainless-Steel segment is projected to dominate the market share in the By Material segment during the forecast period.
Based on Material, the stainless-steel segment is projected to dominate the market share during the forecast period. Stainless steel is highly resistant to corrosion and rusting, making it excellent for use in marine conditions where seawater and other corrosive elements are frequently present. It is also nonmagnetic, hence perfect for use in naval situations where magnetic interference could cause electrical equipment difficulties. Because of its strength and durability, it can survive the extreme circumstances of maritime settings, such as high pressures and temperatures, and hence is a popular choice for marine applications.
Based on Sales Channel, the OEM segment is projected to lead the Marine Actuators and Valves market during the forecast period.
The OEM section of the market is driven by the continuous fleet expansion projects of numerous end users, including commercial passenger vessels, as well as cargoes, oil tankers, and military operators. Manufacturers in the marine actuators and valves market have extensive R&D resources, allowing them to stay at the forefront of technological breakthroughs in the industry. This provides them with a competitive advantage in terms of providing ship owners with the most up-to-date and inventive options. OEMs have built relationships with shipyards and other industry major players, which helps them get contracts and maintain their market leadership.
The market for the electric segment is estimated to grow from USD 776 million in 2022 to USD 1012 million by 2027, at a CAGR of 5.45%. Technological advancements in electric mechanism-based products have led to an increased demand for electric actuators as these products offer advantages such as lower maintenance and more leak-free operations. Electric actuators are used in boats, yachts, and other sea vessels either externally or internally. Electric actuators provide a reliable lift on an engine hatch and allow easy access to the heart of the marine vessel.
Asia Pacific is expected to account for the largest market share in 2022.
The Asia Pacific region includes some of the busiest shipping routes in the world, including significant ports in China, Japan, and South Korea. This increasing demand for shipping generates a sizable market for marine components. The Asia Pacific region is also home to some of the world's largest shipbuilding nations, including China, Japan, and South Korea. As these countries' shipbuilding industries expand, so does the demand for marine components. These factors have contributed to the Asia Pacific area becoming a major participant in the marine component industry, with many key manufacturers and suppliers situated in countries such as Japan, South Korea, and China.
Market Dynamics
Drivers
- Requirement for High-Performance Motion Control Devices
- Increased Global Seaborne Trade
- Booming Maritime Tourism Industry
Restraints
- Stringent Regulatory Norms for Valve and Actuator Manufacturers
Opportunities
- Increased Demand for Technologically-Advanced Actuators in Marine Vessels
- Growing Use of Inland Waterways
Challenges
- Power Consumption, Noise, and Leakage Issues in Actuators and Valves
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 268 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $2.8 Billion |
| Forecasted Market Value (USD) by 2027 | $3.6 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
6.1 Introduction
6.2 Technological Advancements in Marine Actuators and Valves
6.2.1 Adoption of Electric Actuators in Marine Vessels and Surface Ships
6.2.2 Development of Actuation Systems for Autonomous Underwater Vehicles
6.2.3 Implementation of Explosion-Proof Actuators
6.2.4 Use of Advanced Materials in Marine Actuators and Valves
6.3 Emerging Trends in Full Body Scanner Manufacturing
6.3.1 3D Simulation Software
6.3.2 Big Data
6.3.3 Artificial Intelligence
7 Marine Actuators and Valves Market, by Product
7.1 Introduction
7.2 Valves
7.2.1 Quarter-Turn Valves
7.2.1.1 Ball Valves
7.2.1.1.1 Increasing Use in Water Treatment Plants as Well as Ballast and Bilge Systems to Drive Market
7.2.1.2 Butterfly Valves
7.2.1.2.1 Growing Adoption of Butterfly Valves in Marine Applications to Boost Market
7.2.1.3 Plug Valves
7.2.1.3.1 Increasing Concerns for Operational Safety of Ships to Fuel Segment
7.2.1.4 Other Quarter-Turn Valves
7.2.2 Multi-Turn Valves
7.2.2.1 Globe Valves
7.2.2.1.1 Adoption of Advanced Materials for Marine Applications to Propel Segment
7.2.2.2 Gate Valves
7.2.2.2.1 Use of Advanced Materials for Regulating Flow of Liquid to Augment Segment
7.2.2.3 Diaphragm Valves
7.2.2.3.1 Deployment of Lightweight, Compact, and Corrosion-Resistant Materials to Aid Segment
7.2.2.4 Other Multi-Turn Valves
7.3 Actuators
7.3.1 Linear Actuators
7.3.1.1 Rod-Type Linear Actuators
7.3.1.1.1 Increasing Use in Ship Structures to Facilitate Carriage of Loads
7.3.1.2 Screw-Type Linear Actuators
7.3.1.2.1 Growing Deployment of Linear Actuators in Motorboats to Boost Market
7.3.1.3 Belt-Type Linear Actuators
7.3.1.3.1 Adoption of Belt-Type Linear Actuators to Increase Operational Efficiency of Marine Vessels
7.3.2 Rotary Actuators
7.3.2.1 Quarter-Turn Actuators
7.3.2.1.1 Increasing Use of Butterfly and Ball Valves to Accelerate Demand
7.3.2.2 Multi-Turn Actuators
7.3.2.2.1 Rising Adoption of Multi-Turn Bilges and Crossover Valves to Augment Demand
8 Marine Actuators and Valves Market, by Mechanism
8.1 Introduction
8.2 Pneumatic
8.2.1 Compact Pneumatic Linear Actuators to be Used in Commercial Shipbuilding Industry
8.3 Hydraulic
8.3.1 Hydraulic Actuators to be Adopted in Steering Mechanism of Marine Vessels
8.4 Electric
8.4.1 Low-Maintenance Marine Actuators and Valves to Increase Demand in Shipbuilding Industry
8.5 Mechanical
8.5.1 Mechanical Actuators to Find Applications in Ship Components
8.6 Manual
8.6.1 Manual Valves to be Deployed in Cargo Vessels for Flow Control Applications
8.7 Hybrid
8.7.1 Technological Advancements to Enable Higher Adoption of Electro-Hydraulic Actuators in Marine Applications
9 Marine Actuators and Valves Market, by Component
9.1 Introduction
9.2 Valve Components
9.2.1 Valve Bodies
9.2.1.1 Increased Demand for Maintenance and Repair Services for Commercial and Defense Ships to Drive Segment
9.2.2 Valve Bonnets
9.2.2.1 High Adoption of Casted and Forged Valve Bonnets in Marine Vessels to Propel Segment
9.2.3 Valve Trims
9.2.3.1 Regular Maintenance and Repair Activities to Increase Demand
9.3 Actuator Components
9.3.1 Cylinders
9.3.1.1 Increased Use of Advanced Materials while Manufacturing Cylinders to Fuel Market
9.3.2 Drives
9.3.2.1 High Penetration Rate of Drives to Control Motor Speed
9.3.3 Manifolds
9.3.3.1 Technological Advancements in Manifolds to Add Extra Protection
10 Marine Actuators and Valves Market, by Design Characteristics
10.1 Introduction
10.2 Valve Size
10.3 Actuators, by Thrust
10.4 Actuators, by Torque
11 Marine Actuators and Valves Market, by Application
11.1 Introduction
11.2 Ballast and Bilge Systems
11.3 Fuel and Propulsion Systems
11.4 Liquid Cargo Systems
11.5 Refrigeration Systems
11.6 HVAC Systems
11.7 Firefighting Systems
11.8 Portable Water Systems
11.9 Other Applications
12 Marine Actuators and Valves Market, by Platform
12.1 Introduction
12.2 Commercial Vessels
12.3 Defense Vessels
12.4 Unmanned Underwater Vehicles
13 Marine Actuators and Valves Market, by Material
13.1 Introduction
13.2 Aluminum
13.3 Stainless Steel
13.4 Alloy-Based
13.5 Other Materials
14 Marine Actuators and Valves Market, by Sales Channel
14.1 Introduction
14.2 OEM
14.3 Aftermarket
15 Marine Actuators and Valves Market, by Region
16 Competitive Landscape
17 Company Profiles
18 Appendix
Companies Mentioned
- Atlas Marine Valves
- Auma Riester GmbH & Co.
- AVK Group
- Burkert Fluid Control Systems
- Curtiss-Wright Corporation
- Diakont
- Emerson
- Flowserve Corporation
- Hawa Valves
- Honeywell International Inc.
- Hunt Valve
- IMI plc
- Johnson Valves
- Kitz Corporation
- Meson Ab
- Moog Inc.
- Rockwell Automation
- Rotork plc
- Samson Group
- Schlumberger Nv
- Ultra Motion
- Wartsila Corporation
- Woodward Inc.
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