May 16, 2022 09:45 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, May 16, 2022 (GLOBE NEWSWIRE) -- The marine valves and actuators market is anticipated to reach a valuation of US$ 5.8 Bn by 2032 from US$ 3.7 Bn in 2022, rising at a CAGR of 4.5% during the forecast period.
Rapid globalization, rising demand for marine valves and actuators in the marine sector, and a significant increase in foreign trade have all aided the global expansion of the marine valves and actuators market share.
Furthermore, due to increased global trade, the sales of marine valves and actuators are increasing. As a result, the demand for marine valves and actuators is also growing rapidly.
The demand for marine valves and actuators is anticipated to grow as the marine sector is increasingly using advanced valves and actuators due to recent technological advancements, creating a great market opportunity.
In the last 50 years, rampant globalization has resulted in a surge in worldwide trade and cultural exchange. Due to this factor, the sales of marine valves and actuators grew immensely.
Furthermore, the demand for marine valves and actuators is anticipated to rise as shipping has become the most preferred mode of transportation due to its low cost and minimal carbon footprint. As a result, the overall number of dry cargo vessels, tankers, bulk carriers, and service vessels has expanded dramatically, aiding in the growth of the marine valves and actuators market. The use of pneumatic actuator systems typically wastes more energy by delivering more pressure than the requirement of the actuator. Moreover, the amount of fluid lost in the
Browse in-depth TOC on “Sales of Marine Valves and Actuators"
Request Sample Report at: https://www.factmr.com/connectus/sample?flag=S&rep_id=7294
Furthermore, as the number of ships has grown, so has the number of valves and actuators that govern ship operations. As a result, these factors are projected to propel the sales of marine valves and actuators and boost the overall marine valves and actuators market during the forecast period.
The demand for marine valves and actuators is being fueled by increasing demand for innovative goods that provide improved performance and dependability while minimizing environmental impact.
The sales of marine valves and actuators are rising as they govern everything that happens on a ship in the marine industry. The operating environment for these valves and actuators is harsh, with salt spray, high temperatures, vibrations, and chemical pollution.
The demand for marine valves and actuators is anticipated to rise rapidly as they can survive these harsh circumstances, comply with stringent regulatory policies, and are robust, low-maintenance, and energy-efficient. As a result of these factors, the global marine valves and actuators market share are likely to increase over the forecast period.
To learn more about Marine Valves and Actuators Demand, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7294
Furthermore, the sales of marine valves and actuators are growing as they are critical for vessel piping system maintenance. Internal diagnostics in actuators and remote-controlled valves allow for planned maintenance.
The demand for marine valves and actuators is high as they are low-maintenance and energy-efficient. Furthermore, reduced maintenance saves money by ensuring a reliable and efficient operation and reducing downtime. The global marine valves and actuators market is likely to be driven by low-maintenance valves and actuators.
Get Customization on this Marine Valve Manufacturers Report for Specific Research Solutions at
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7294
Emerson Electric Co, Flowserve Corporation, Honeywell International Inc., KITZ Corporation, and Rotork Plc are the key players in the marine valves and actuators market.
To further increase their presence in the marine valves and actuators market, these companies have used a variety of growth methods including acquisitions, expansions, new product releases, and partnerships and collaborations.
Schlumberger Limited, a U.S.-based provider of international oilfield services, was acquired by Shearwater GeoServices Holding AS in August 2018.
Emerson Electric Co paid US$ 3.15 billion for Pentair plc's Valves and Control unit in April 2017.
Honeywell announced two technology-oriented acquisitions in 2018, totaling more than USD 500 million, with Transnorm (Germany) and Ortloff Engineers, Ltd. (US). Transnorm was purchased in order to improve warehouse automation platforms and get a foothold in the European industry.
To understand how our report can bring difference to your business strategy, Purchase a copy of this report at
https://www.factmr.com/checkout/7294
Check out more studies related to Industrial Goods, conducted by Fact.MR:
Which Industry Will Positively Impact the ESS Market? - The automotive industry has seen a paradigm shift towards electric vehicles from conventional IC engine-powered vehicles and this has substantially increased the demand for EV connectors and battery energy storage systems.
What are the Demand Growth Drivers for Crowd Control Barriers? - Managing masses of people within a relatively short time frame is critical for security, especially when crowd density is high. Inefficiency in the management of crowds can cause dangerous contingencies at stadiums and halls.
What are the Different Market Dynamics driving the Global Marine Valve Actuators Market? - The defence or naval branch contributes a significant marine valves and actuators market share since flow management in the battleships is critical for the sector.
Why Should Hazardous Area Equipment Manufacturers Focus on Europe? - The market for hazardous area equipment in Europe is projected to be one of the most lucrative ones and this will majorly be driven by growing chemical manufacturing industries in this region. Growing pharmaceutical and energy industries are also expected to favor hazardous area equipment market potential over the coming years.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.