Rising Development of Water and Wastewater Treatment Plants to Fuel Valve Actuator Market Growth During Forecast Period
With the population growth and rise in industrialization worldwide, there is a growth in the residential, commercial, and industrial sectors. A sizable volume of untreated wastewater from commercial, residential, and agricultural sources is dumped into rivers and other bodies of water. This unchecked discharge poses serious health risks, degrades soil, and pollutes water. According to Avantor, untreated wastewater poses significant health risks, accounting for 1.7 million deaths annually. Over 90% of those deaths are in developing nations. Thus, there is a growing focus on developing wastewater treatment facilities to safeguard people, as well as local ecosystems, from toxic elements detected in wastewater. According to INVEST INDIA, there are lucrative investment prospects in water resources and waste and water projects in India. With an annual freshwater consumption of 750 billion cubic meters and an anticipated surge to 1.5 trillion cubic meters by 2030, the potential is vast for water resource projects that align with the nation’s needs.
In addition, in March 2023, the U.S. Environmental Protection Agency (EPA) announced US$ 57.3 million in funding from the 2023 Consolidated Appropriations Act for states, tribes, and territories through 2023 Clean Water State Revolving Funds (CWSRF) in the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. The funding will help communities upgrade wastewater and stormwater systems in order to protect public health and treasured water bodies across the nation. Investments and upcoming opportunities for the development of the water and wastewater sector foster the demand for infrastructure, machinery, and equipment required in the water and wastewater treatment plants. In sewage and water treatment facilities, valve actuators have several uses. Every day, they manage the flow of billions of gallons of water and wastewater, and they have to endure exposure to harsh environments, high water pressures, and fast flow rates. Valve actuators must consistently operate with accuracy, precision, and control under these demanding conditions because even the smallest malfunction can have serious financial and safety repercussions. Thus, the rising development of water and wastewater treatment plants is expected to fuel the need for valve actuators in these facilities, creating growth opportunities for the market.
Valve Actuator Market: Industry Overview
The Valve Actuator Market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. The market report emphasizes the key factors driving the market and showcases the developments of prominent players. The report includes growth prospects owing to the current Valve Actuator Market trends and their foreseeable impact during the forecast period. The market is segmented on the basis of end user, product type, and geography. Based on end-user, the market is divided into mining, LNG, chemical, oil & gas, water and wastewater, and others. Based on product type, the market is distributed into electrical, manual, hydraulic, and pneumatic. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
The Europe Valve Actuator Market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The wastewater treatment plant and processing industries are prime contributors to the growth of the Valve Actuator Market in Europe. According to the European Economic Area (EEA), wastewater collection and treatment infrastructure is improving across the region. Nearly 90% of urban wastewater generated in the European Union (EU) is collected and treated in accordance with the EU Wastewater Treatment Directive. Austria, Luxembourg, Germany, and the Netherlands are among the countries that treat 100% of their urban wastewater in adherence with the requirements specified under this Directive, whereas 10 additional countries have reached more than 90% compliance rate. Thus, the growing focus on wastewater treatment and the rising number of wastewater treatment plants create a significant demand for valves and valve actuators in the EU.
The Asia Pacific Valve Actuator Market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. According to the Institute for Energy Economics & Financial Analysis, China, India, and Indonesia are the largest oil-producing countries in this region. On the other hand, China, Australia, Malaysia, and Indonesia are the largest gas-producing countries in Asia Pacific. The region recorded a 3.1% per annum increase in gas production in 2021, and India, China, Australia, and Pakistan, in particular, exceeded the production levels recorded in 2019. As per the US Energy Information Administration, crude oil processing, or refinery runs, in China averaged 14.8 million barrels per day in 2023, an all-time high. Thus, the flourishing oil and gas production propels the growth of the valve actuators market in Asia Pacific.
Germany held a significant Valve Actuator Market share in Europe. As per the International Trade Administration, in August 2022, Germany revealed its plans to shift its energy generation source from coal, oil, and nuclear to nuclear-free renewable sources and increase the share of power generation by renewables by 60% by 2050. This will contribute to the building of renewable plants. Germany is also investing in expanding power generation from renewable and nonrenewable sources to meet the electricity demand. In March 2023, Germany’s Economy Minister announced that the country will use a tender to build 25 GW of new gas power plants by 2030 for use when renewable sources are not providing enough power. Such expansions in the energy sector demand valve actuators for flow control operations in power plants.
India accounted for the significant Valve Actuator Market share in 2022. The oil & gas sector in India plays a major role in boosting economic growth, which is closely related to its energy demand. In 2022, India held the record of being the third-largest consumer of oil in the world. The Government of India has adopted several policies to cater to the rise in the demand for oil and gas. A 100% FDI for public-sector oil refiners has been allowed in the country. According to the Oil and Gas Snapshot of States (Volume 2023–2024, Edition I) report released by the Petroleum Planning and Analysis Cell (PPAC) in January 2024, India has 23 refineries. With the rise in FDIs, the sector is expanding its facilities, which include export-oriented infrastructure—such as product pipelines and export terminals. Also, these investments help contribute to the demand for instruments required to control the flow of fluid in the oil & gas sector, which further fuels the Valve Actuator Market growth in India.
Valve Actuator Market: Competitive Landscape and Key Developments
The Valve Actuator Market analysis is carried out by identifying and evaluating key players in the market across different regions. Emerson Electric, Alfa Laval, Flowserve Corp, IMI Plc and Tolomatic are among the prominent players profiled in the Valve Actuator Market report. Several other players have also been studied and analyzed during the study to get a holistic view of the market and its ecosystem. Below are a few key developments in the market:
- In 2023, KSB SE & Co. KGaA launched a new generation of pneumatic 90° quarter-turn actuators. The double-acting and single-acting pneumatic actuators of the ACTAIR EVO and DYNACTAIR EVO type series are designed for actuating all types of part-turn valves, such as butterfly valves, ball valves, and plug valves.