Actuators and valves serve a wide range of applications across multiple industries and are both essential turnkey components of industrial automation. Chemical, petrochemical, biotech, pharmaceutical, and several other industrial verticals exhibit high utility of actuators and valves. Specific process control requirements have prompted manufacturers of actuators and valves in designing their offerings across a variety of sizes, dimensions and functions.
Transparency Market Research’s has published a forecast study that has assessed the production of actuators and valves across the globe. Key findings from the report estimate that the global actuators and valves market will expand at a 5.3% CAGR during the period, 2017-2026. The report further forecasts that by the end of 2026, more than USD $ 511 billion worth of actuators and valves will be sold worldwide.
Efficiency of pneumatic actuators in fluid power applications will continue to drive their demand in the global actuators and valves market. Industrial verticals such as chemicals, wastewater treatment, and water supply are high adopters of pneumatic actuators. Key advantage of pneumatic actuators in sustaining overload pressure conditions continues to propel their adoption over other types of actuators. The report has estimated that in 2017, more than USD $53 billion worth of pneumatic actuators were sold in the global actuators and valves market. The study also observes quarter turn valves as a top-selling product in the global actuators and valves market. Over the forecast period, quarter turn valves are poised to register highest value CAGR of 6.9%. The bi-directional operability of quarter turn valves is its key advantage in closing or opening flow paths, and has driven its adoption across multiple industries.