The opportunity in the global actuators and valves market stood at US$74.37 bn in 2015 and is anticipated to be worth US$124.30 bn by 2024. If these values hold true, the market is projected to expand at a 6.0% CAGR during the forecast period.

The global actuators and valves market is immensely fragmented with the 10 leading players accounting for a mere 20% of the global market in 2015. Transparency Market Research has observed a high degree of competition in the market owing to the presence of a large number of players. This can be attributed to the fact that most leading companies have been engaged in acquiring smaller vendors in order to gain market share. For instance, in 2015, Schlumberger Limited acquired Cameron International Corporation in order to expand its product offerings.

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While the threat of substitutes in the actuators and valves market is nil, the threat of new entrants is also rather limited. “High entry barriers such as increased capital investments curbs the threat of new players,” the author of the study states.

Valves Emerge as Clear Leader in Actuators and Valves Market by Type

By type, the actuators and valves market is led by valves and the segment accounted for a massive share of just under 75% in 2016. On the other hand, the actuators segment is expected to contribute the leading CAGR of 5.89% during the forecast period. While ball valves dominate the overall valves segment, pneumatic actuators hold the leading share in the actuators segment. Based on end-use industry, water and wastewater treatment held the dominant share in 2016.

On the basis of geography, Asia Pacific held the leading share of just under 40% in 2016, followed by North America. The APAC market for actuators and valves is projected to register a 6.9% CAGR during the forecast period, emerging as one of the most attractive regional segments by 2024.

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