Portable Valve Actuator Market Outlook (2023 to 2033)
As per Future Market Insights, the portable valve actuator market is anticipated to attain a value pool of US$ 107 billion by 2023-end. Global demand for portable valve actuatorsis expected to rise at a CAGR of 6.5% to US$ 200 billion in 2033.
Data Points
Key Statistics
Expected Market Value of Portable Valve Actuators in 2023
US$ 107 billion
Projected Market Value of Portable Valve Actuators in 2033
US$ 200 billion
Growth Rate (2023 to 2033)
6.5% CAGR
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Key Market Drivers
Focus on Energy Efficiency: The global portable valve actuator market is witnessing a shift towards energy-efficient solutions. Manufacturers are focusing on developing energy-efficient valve actuators that consume less power and reduce the overall energy consumption of the plant. The demand for energy-efficient portable valve actuators is expected to grow in the coming years due to the increasing focus on sustainability and environmental conservation.
Advancements in Wireless Communication Technologies: The integration of wireless communication technologies in portable valve actuators is a major trend in the market. Wireless communication technologies enable remote monitoring and control of valve actuators, which is useful in industries where valves are located in hard-to-reach areas or hazardous environments. The use of wireless communication technologies also improves the efficiency and accuracy of valve control, leading to better performance and reduced downtime.
Growth Opportunities
Increasing Demand for Industrial IoT: The increasing adoption of Industrial Internet of Things (IIoT) is expected to create opportunities for the portable valve actuator market. The integration of portable valve actuators with IIoT technologies enables real-time monitoring and control of valves, leading to improved efficiency and reduced downtime. The increasing adoption of IIoT technologies in industries such as oil and gas, chemical, and water and wastewater treatment is expected to drive the demand for portable valve actuators.
Growth in Renewable Energy Sector: The growth in the renewable energy sector is expected to create opportunities for the portable valve actuator market. Portable valve actuators are widely used in wind turbines, solar power plants, and hydroelectric power plants for valve control. As the demand for renewable energy sources continues to grow, the demand for portable valve actuators in the renewable energy sector is also expected to increase. The increasing focus on energy efficiency and reduced carbon emissions is expected to drive the demand for portable valve actuators in the renewable energy sector.
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Prevailing Trends
Integration of Artificial Intelligence (AI): The integration of AI in portable valve actuators is a growing trend in the market. AI can be used for predictive maintenance, fault detection, and energy optimization of valve actuators. With the help of AI, portable valve actuators can analyze real-time data and predict potential failures, reducing downtime and improving efficiency.
Adoption of Remote Monitoring and Control: The adoption of remote monitoring and control in portable valve actuators is a trend that is gaining traction in the market. Remote monitoring and control enable the operator to monitor and control the valve actuator from a remote location, leading to improved efficiency and reduced downtime. The remote monitoring and control also enhance safety by reducing the need for human intervention in hazardous environments.
Development of Smart Valve Actuators: The development of smart valve actuators is a prominent trend that is driving the market. Smart valve actuators are equipped with sensors and communication technologies that enable real-time monitoring and control of valves. Smart valve actuators can also detect potential failures and send alerts to the operator, leading to improved efficiency and reduced downtime. The integration of smart valve actuators with IIoT technologies enables predictive maintenance and energy optimization, leading to further efficiency gains.
The market for Portable Valve Actuator is expected to grow due to a focus on increasing productivity, versatility, safety with precision and better efficiency for actuating manual industrial valves.
Which Aspects are Shaping the Market Growth?
There more benefits of using a portable actuator in a plant or factory such as saves time and money, mobility, safety and others. Manual valves which are operated by hand wheel are difficult to open and requires more effort from the labour.
Since advancement technologies allows us to open the valve easily through portable valve actuator. In restricted space areas where a person couldn’t actuate a valve manually, in this case direct or offset type of the device plays a vital role.
Use of the device is compulsory in large diameter hand wheel valves where a person can’t open or close the valve manually. Thus estimated to drive the portable valve actuator sales. Surging demand of manually actuated industrial valves expected to push the consumption of portable valve actuator in the forecast period 2021-2031.
Growth in end use industries such as oil&gas, water & wastewater, power plants and others projected to upsurge the potential of global portable valve actuator market. Regular maintenance of industrial valves to ensure proper functioning of it requires regular actuation repetitively bring out augmented sales of portable valve actuators.
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Growing Onshore & Offshore Pipeline Projects Creates more Opportunities for Market Growth Across New Geographies
At present, several countries are concentrated developing its onshore and offshore infrastructure. Also these countries have been identified to possess a significant quota of natural gas hubs in concern with limiting the dependency on fossil fuels.
This factor is anticipated to augment the demand of portable valve actuator market. For large diameter gas transmission pipelines portable valve actuator are ideal for controlling the flow rate of gases.
Sales of the device is also associated with demand of pipeline integrity management which ensures safe and reliable operations for oil&gas transmissions.
Increasing population from urban to rural areas requires high demand of new energy projects enhances the production and related supply of the device by the manufacturers. This will eventually propel the market growth in terms of volume and value.
North America Market Outlook
Adoption of new technologies in North America region is likely to drive the obligatory sales of the device. Increased shale oil production by North America region is expected to demand more no. of units for actuating manual valves. Along with this propelling demand of portable valve actuator from end use industries such as Chemical, Pharmaceutical, Food industries, etc., is estimated to push the potential of North American regional market.
Consequently, a number of new mid-stream, upstream and downstream exploration contracts in North America region anticipated to intensify the new sales.
Middle East & Africa Demand Potential
In Middle East & Africa region where industrial valves market is mature, expected to have a substantial growth in the regional market. The countries of Northern and Western Coast of Africa are expected to offer abundant opportunities in upstream and midstream processes. Furthermore, the rising demand of liquefied natural gas (LNG), may propel the demand of the device in the Middle East & Africa region.
Energy transition surges new plea of the device demand in this region. Disruption in oil&gas sector of Middle East & Africa region might drift down the sales of new units. Drastically increase in shale oil production from other countries disturbing the regional end use sector demand.
Who are the Key Manufacturers and Suppliers of Portable Valve Actuator?
Some of the leading manufacturers and supplier includes
Sofis valve operation
Gebuwin and MODEC SAS
Mapptools Srl
E.H. Wachs
DEPRAG CZ a. s.
Others.
Many leading manufacturers and supplier have longstanding contracts with end-users to supply Fu el Dispensers. Further, manufacturers are focused on establishing their manufacturing facilities in the countries such as United Kingdom, USA, and China to cater increasing demand in the region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
