The marine valves and actuators market is expected to achieve a steady growth rate with a moderate CAGR of 4.5%. The global market is anticipated to reach approximately $5.8 billion by 2032, marking a significant increase from its 2021 valuation of $3.5 billion.
The rapid globalization of the manufacturing sector has led to a substantial surge in international trade, resulting in heightened demand for marine ships and vessels for the transportation of raw materials and finished goods. This increased reliance on vessels for marine mobility has contributed to the global expansion of the one-way marine valve and actuator market.
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Key Takeaways
- By type, the valves segment is projected to dominate the marine valves and actuators market with a CAGR of 4.5% through 2032.
- On the basis of vessel type, the passenger ships and ferries segment is anticipated to lead the marine valves and actuators market with a CAGR of 5.0% through 2032.
- During the forecast period, Asia Pacific is predicted to lead the global market for marine valves and actuators.
- The Asia Pacific (APAC) region has experienced tremendous economic growth as well as the expansion of the shipbuilding industries in recent years, resulting in increased maritime traffic. The development in seaborne trade has resulted in a surge in demand for ships that convey produced items to various parts of the world.
- As a result, the growing sales of marine valves and actuators in the Asia Pacific region has been aided by an increase in the number of ships. Due to the obvious ongoing territorial battles in the region, the marine valves and actuators in the military sector, particularly the navy, is expected to grow.
- China and India are projected to be the most profitable marine valves and actuators market during the forecast period.
Competitive Landscape
Players in the market take various initiatives to offer better services and produce innovative products to secure the forefront position in the global LED video walls market. Some of the recent key developments in the market are:
- In January 2020, LG Business Solutions USA rolled out two new 55-inch LCD video wall panels that comprise a 0.44 mm bezel for virtually seamless video wall installations and a new embedded Smart Calibration tool that lessens the maintenance and installation time by 97%.
- In April 2022, the Oregon-based Planar, a known visualization technology provider, announced its plans to prepare a diverse portfolio of emerging broadcast technologies at NAB 2022. The enterprise will demonstrate the modern developments for broadcast production needs. It will range from cutting-edge fine pitch LED display solutions for in-camera virtual production to state-of-the-art motion capture (Mocap) solutions for fine camera tracking. NAB 2022 also marks the first NAB show since the launch of Planar Studios in 2021.
Key Segments
- By Technology Type :
- Actuators
- Pneumatic Actuators
- Hydraulic Actuators
- Manual Actuators
- Electric Actuators
- Mechanical Actuators
- Hybrid Actuators
- Valves
- Linear Motion Valves
- Globe Valve
- Gate Valve
- Diaphragm Valve
- Pinch Valve
- Rotary Motion Valves
- Ball Valve
- Butterfly Valve
- Eccentric Plug Valve
- Specialty Valve
- Self-actuated Valve
- Linear Motion Valves
- Actuators
- By Vessel Type :
- Passenger Ships & Vessels
- Dry Cargo Vessels
- Tankers
- Dry Bulk Carriers
- Special Purpose Vessels
- Service Vessels
- Fishing Vessels
- Off-Shore Vessels
- Yachts
- Others
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Key Question answered in the survey of Marine Valves and Actuators market report:
- Sales and Demand of Marine Valves and Actuators
- Growth of Marine Valves and Actuators Market
- Market Analysis of Marine Valves and Actuators
- Market Insights of Marine Valves and Actuators
- Key Drivers Impacting the Marine Valves and Actuators market
- Which are the Key drivers impacted by Marine Valves and Actuators market
- Marine Valves and Actuators Market Growth
- Market Survey of Marine Valves and Actuators
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