At 6.2% CAGR, Asia Pacific Valve Actuator Market is Projected to be Worth US$ 11,539.96 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific valve actuator market was valued at US$ 7,110.63 million in 2023 and is expected to reach US$ 11,539.96 million by 2031, registering a CAGR of 6.2% from 2023 to 2031. Advent of industry 4.0 and miniature actuators are among the critical factors attributed to drive the Asia Pacific valve actuator market growth.

With respect to automation and intelligent manufacturing, Industry 4.0 is crucial to the broad expansion of various sectors. Over the years, Industry 4.0 has developed, leading to smarter manufacturing and better final products in terms of efficiency and quality. By introducing the Internet of Things (IoT) and information and communication technologies (ICT), Industry 4.0 brings more industrial axes of motion. Using intelligent sensors and actuators, the digital and physical worlds interact. Industry 4.0 is characterized by bringing automation into the industrial sector and incorporating smart technologies. It is transforming how companies manufacture, process, and distribute their products. It is focused on improving product quality by minimizing the risk of human error and posing a safe environment. Due to the rise of Industry 4.0, the governments of various countries are investing to boost automation in the manufacturing industry. Therefore, the advent of Industry 4.0 boosted the adoption of various robotics solutions in the manufacturing and industrial sectors where the actuators play a very crucial role for the linear or rotary movements in automated solutions. Actuators generate the forces that robots employ to move themselves and other objects. Valve actuators are widely used in a multitude of manufacturing process control systems. They help in the opening and closing of a valve where the flow of materials (liquid, gases, or solid) is required. Thus, the rise in automation in various industries, such as food & beverages, oil & gas, and automotive, fosters the demand for valve actuators and fuels the valve actuator market growth worldwide.

On the contrary, economic slowdown hampers the growth of Asia Pacific valve actuator market.

Based on end user, the Asia Pacific valve actuator market is segmented into mining, LNG, chemical, oil & gas, water & wastewater, and others. The oil & gas segment held 26.9% market share in 2023, amassing US$ 1,913.45 million. It is projected to garner US$ 3,451.21 million by 2031 to register 7.7% CAGR during 2023-2031.

In terms of product type, the Asia Pacific valve actuator market is categorized into electrical, manual, hydraulic, and pneumatic. The electrical segment held 55.4% share of Asia Pacific valve actuator market in 2023, amassing US$ 3,941.30 million. It is anticipated to garner US$ 6,459.49 million by 2031 to expand at 6.4% CAGR during 2023-2031.

Based on country, the Asia Pacific valve actuator market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.7% share of Asia Pacific valve actuator market in 2023. It was assessed at US$ 3,107.63 million in 2023 and is likely to hit US$ 5,443.79 million by 2031, registering a CAGR of 7.3% during 2023-2031.

Key players operating in the Asia Pacific valve actuator market are Emerson Electric Co; Schlumberger NV; Alfa Laval AB; Flowserve Corp; Crane Company; Rotork Plc; Valmet Oyj; KITZ Corp; IMI Plc; and Tolomatic, Inc. among others.

• In January 2024, Emerson Electric Co launched a new eco-friendly electric valve actuator used for ensuring accurate process control in adverse conditions. This eco-friendly electric valve actuator performs accurately and reliably under the extreme conditions found in many heavy industries, particularly oil & gas installations in cold remote locations. These actuator/valve assemblies increase uptime, improve performance, and reduce the risk of emissions posed by gas-operated systems locations.
• In March 2023, Flowserve Corp launched FlowSync Bluetooth Actuator App deployed with Limitorque electric actuators for delivering reliable valve control in a variety of applications. The cross-platform mobile application provides plant operators with a smarter way to commission, monitor, control, and update actuators safely and conveniently.

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