Marine Actuators and Valves Market Sales Size Forecast 2027
Marine valves are used to control, guide, direct, and regulate the flow of different types of liquids, steam, gases, any flowing agent such as mill and grain. Different types of valves are used depending on the customized application. Some of the commonly used valves are gate, globe, angle, butterfly, ball plug valves, etc. These valves are made from bronze, iron, steel, or PVC have the capabilities to high-end pressure and temperature. Furthermore, actuators are attached to valves for monitoring of pressure and flows, where two values are required to match. There are different types of actuators including pneumatic, hydraulic, electrical, mechanical, hybrid, manual actuator, etc.
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Market Trends
1. Growing preference for electric actuators over hydraulic actuators
Hydraulic actuator is being used for a long time in the marine sector owing to its low cost and high power density. However, these actuators are complex in terms of design that include oil tanks and filters. Moreover, there is a high risk of fluid leakage through it and consumes higher energy and requires timely maintenance. As a result of this, end users are gradually shifting towards an electric actuator system, which consists only of an actuator control and power connection. These actuators are increasingly used in marine sector both for indoor and outdoor purposes.
2. Rising adoption of dry bulk carriers in marine transportation
Dry bulk carriers carry around 100,000 dead-weight tons (dwt) plus of material goods. Such bulk carriage leads to lower transportation costs, making international trade convenient and affordable. Growing global investments and an increase in the transportation of materials such as ore, coal, unpackaged cargo and cement are leading to increased use of dry bulk carriers which in turn, are increasing the total number of valves and actuators that are required for the efficient functioning of carriers. According to UNCTAD, in 2015 bulk carriers accounted for 43.5% share out of the total share for vessel types.
