Portable Valve Actuator Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Trend for Industrial IoT –The real-time monitoring and control of valves is made possible by the integration of portable valve actuators with IoT technologies, which increases productivity and decreases downtime. The market for portable valve actuators is anticipated to rise as IoT technologies are being adopted in sectors like water treatment, chemicals, and oil and gas. Also, in 2030, it is anticipated that there will be close to 30 billion IoT devices in use worldwide.
- Development in Renewable Energy Sector – For valve control, portable valve actuators are frequently employed in hydroelectric power plants, solar power plants, and wind turbines. The supply of renewable energy from solar, wind, hydro, geothermal, and ocean sources increased by over 8% in 2022. The demand for portable valve actuators in renewable energy is anticipated to rise as the demand for renewable energy sources rises.
- Incorporation of Artificial Intelligence – The market is expecting an increase in the incorporation of AI in portable valve actuators. Predictive maintenance, defect finding, and energy optimization of valve actuators are all possible using AI. Artificial intelligence (AI) enables portable valve actuators to analyse real-time data and anticipate future faults, minimizing downtime and increasing productivity.
Challenges
- High Initial Investment - For small and medium-sized businesses, the initial expense of purchasing portable valve actuators might be a considerable barrier. This factor may hamper the market growth.
- Lack of Awareness
- Maintenance and Service Costs
Portable Valve Actuator Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 1.74 billion |
|
Forecast Year Market Size (2037) |
USD 4.14 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of portable valve actuator is estimated at USD 1.84 billion.
Portable Valve Actuator Market size was valued at USD 1.74 billion in 2024 and is poised to cross USD 4.14 billion by the end of 2037, expanding at more than 6.9% CAGR during the forecast period i.e., between 2025-2037. Growth in renewable energy sector, growing trend for industrial IoT, and incorporation of artificial intelligence will drive the market growth.
Asia Pacific industry is anticipated to dominate majority revenue share of 30% by 2037, impelled by growing investments in new plants, power chemicals, and petrochemicals in the region.
The major players in the market are Camozzi Automation, Cowan Dynamics, Box Rexroth AG, Seimens, Justech Linear Actuator Motor, SMC Corporation, NSK Ltd., Yoshitake Inc, NIPPON GEAR CO., LTD., CKD Corporation and others.
