The global marine actuators & valves market is experiencing a significant growth due to increase in marine trade activities.
PORTLAND, OR, UNITED STATES, November 18, 2021 /EINPresswire.com/ — The global marine actuators & valves market is experiencing a significant growth due to increase in marine trade activities. Marine actuators & valves enable the valve control mechanism that operates the flow through a valve. Marine valves are used in ships to control the liquid flow through ship’s piping and machinery system. Marine actuators are valve control system designed to convert different forms of energy into mechanical motion to open or close valve and capable of being operational in a marine vessel. Marine actuators & valves are used in various marine systems such as safety system, auxiliary system, and navigation system.
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Major Market Players:
Rotork Plc., Tyco International Ltd., VK Holding A/S, Curtiss-Wright Corporation, Burket Fluid Control Systems, Emerson Electric Co., Schlumberger Limited, KITZ Corporation, Watts Water Technologies Inc., and Flowserve Corporation.
COVID-19 scenario analysis:
Marine actuators & valves manufacturers are forced to shut down their manufacturing process due to supply chain disruption caused by the lockdown imposed by government in order to slow the spread of COVID-19.
Installation & upgradation of marine actuators & valves are hindered due to lockdown imposed by nations globally in the wake of COVID-19 pandemic.
Ship builders are facing short term operational issues due to lack of marine actuator & valve supply caused by the transport restrictions imposed by authorities to control the COVID-19 outbreak.
Marine tourism & trade is witnessing a standstill due to worldwide travel bans.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in marine trade, increase in demand for advanced naval vessels, and rise in adoption of low-maintenance actuators & valves are some of the factors that drive the global marine actuators & valves market. However, low energy efficiency of pneumatic actuators hinders the market growth. On the contrary, growth in number of ship manufacturers, rise in demand for command & control systems, and maintenance repair & overhaul (MRO) of existing ship fleet present new pathways in the industry.
The global marine actuators & valves market trends are as follows:
Demand for advanced naval vessels
Naval vessels use vale & actuator extensively to efficiently operate various systems on-board a navy ship such as weapon release system, navigation system, and hydraulics system. Recently, US Navy awarded 982 million USD on 5-year contract to 40 companies for providing advanced systems for its underdevelopment unmanned surface vehicle (USV). Draper Laboratory (a not-for-profit research organization based in Massachusetts, US) is among 40 companies short listed by US Navy to develop actuator technology among other advanced technologies. Such R&D for marine actuators & valves for naval vessels is expected to boost the global marine actuators & valves market.
Rise in adoption of low-maintenance actuators & valves
Smooth actuator & valve operation is essential for maintenance of vessel piping system. Actuators and remote-controlled valves have internal diagnostics that enable planned maintenance. Such actuator & valve system require a low level of maintenance and are power efficient. Moreover, reduced maintenance provides cost benefits through reliable & efficient operation as well as reducing downtime. Such actuators & valves with low-maintenance requirement are expected to drive the global marine actuators & valves market.
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Questions answered in the marine actuators & valves market research report:
• Which are the leading market players active in the marine actuators & valves market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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Source: EIN Presswire