Global Marine Valves and Actuators Market 2017-2021

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Global Marine Valves and Actuators Industry Outlook

Market research analysts at Technavio predict that the global marine valves and actuators market will grow steadily at a CAGR of close to 4% by 2021. This market research analysis identifies the increase in seaborne trade as one of the primary growth factors for this market. Owing to the adverse effects of globalization and the rise in demand and supply of commodities and manufactured goods, seaborne trade has seen a gradual increase over the past decade. Seaborne trade plays a significant role in the economic expansion and economic growth of a country and its adoption has become a necessary means for the delivery of goods from distant suppliers. The growth in seaborne trade will propel the demand for shipbuilding, which in turn, will drive the demand for marine valves and actuators.

The high demand for floating production systems (FPS) is one of the latest trends that will gain traction in the marine valves and actuators market in the coming years. The increased demand for new units of FPS is increasing with the growing global oil demand. One of the major factors that propel the demand for FPS is the rise in deepwater and ultra-deepwater exploration activities as reservoirs are being discovered to meet the demand and supply of petroleum products. The increase in demand for FPS will subsequently propel the growth of the marine valves and actuators market.

Competitive landscape and key vendors

The marine valves and actuators market is a competitive and fragmented market. It is characterized by the presence of several vendors and is dominated by small-scale players. Most of the key vendors are well diversified and are present in almost all the regions to tap the growing demand for marine valves and actuators. The established players are striving to set up the base and expand their footprint in developing countries such as India and China, owing to the rising demand for shipbuilding and seaborne trade in these regions.

The report offers a detailed analysis of several leading companies, including:

• Emerson
• Wärtsilä
• Rotork
• AVK Group

The other prominent vendors in the market include Actuation Valve and Control, Apollo Valves (CONBRACO INDUSTRIES), Atlas Marine Valves & Equipments, Brooksbank Valves, Cla-Val, Göpfert, HOERBIGER, Johnson Valves, LK Valves and Controls, NAG Marine, and Pima Valve.

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Marine valves and actuators market segmentation by product 

• Valves
• Actuators

During 2016, the valves segment accounted for the major shares of the marine valves and actuators market. There is an increase in the application of valves due to the increasing size of ships and their frequent usage. Valves play a key role in the marine industry and are used in various applications such as in treating wastewater, generating power, and controlling the HVAC system of ships.

Marine valves and actuators market segmentation by geography

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. China State Shipbuilding Corporation (CSSC) aims to provide growth and development for the Chinese cruise industry, with an increased focus to build and construct the first cruise ship in China, which is also expected to be one of the largest cruise markets. Rapid industrialization that has fueled the growth of the shipbuilding industry in countries such as South Korea will boost the growth of the marine valves and actuators market in this region.

Key highlights of the global marine valves and actuators market for the forecast years 2017-2021:

• CAGR of the market during the forecast period 2017-2021
• Detailed information on factors that will accelerate the growth of the marine valves and actuators market during the next five years
• Precise estimation of the global marine valves and actuators market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• Growth of the marine valves and actuators industry across various geographies such as the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of marine valves and actuators companies

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