Portable Valve Actuator Market Size

Portable Valve Actuator Market size is expected to cross USD 241 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of portable valve actuators was over USD 100 Billion. The market is expecting a shift towards energy-efficient solutions. Manufacturers are developing energy-efficient valve actuators in an effort to lower the plant's overall energy usage. In the upcoming years, there will likely be a rise in demand for portable valve actuators that are energy-efficient because of the increased attention being paid to sustainability and environmental preservation.

Additionally, the employment of wireless technology enhances the precision and effectiveness of valve management, resulting in improved performance and less downtime. Around 740 million mobile subscriptions were available globally in the year 2000. This number is predicted to reach 8.65 billion subscriptions by the end of 2021. Therefore, a significant market development is the incorporation of wireless communication technology in portable valve actuators.